Tsrc Corporation · TWSE:2103
Tsrc — YTD Sep 2024 Earnings Presentation
21 slides from Tsrc's earnings presentation, Nov 13, 2024
Slide 1: TSRC – Global Specialty Polymers
2024 TSRC – Global Specialty Polymers Investor Conference, November 13th, 2024
Slide 2: Disclaimer
Disclaimer The information presented and referred herein are based upon the information obtained internally and externally from our company. Forward-looking operational results, financial condition and business results might be different from those information expressly or impliedly presented herein
Slide 3: Agenda
AGENDA 1. Introduction • Thomas Lin, Deputy Spokesperson 2. 2024 Sep Year-to-date Financial • Edward Wang, CFO performance 3. 2024 Business Review and 2025 • Joseph Chai, CEO Market Outlook 4. Key Investment and ESG Updates • Joseph Chai, CEO 5. Summary • Joseph Chai, CEO 6. Q&A 2024 TSRC Confidenti
Slide 4: Introduction
[1] Introduction Thomas Lin, Deputy Spokesperson
Slide 5: 2024 Sep Year-to-date Financial Performance
[2] 2024 Sep Year-to-date Financial Performance Edward Wang, CFO
Slide 6: YTD Sep 2024 Financial Highlights
YTD Sep 2024 Financial Highlights In NT$M YTD Sep’23 YTD Sep’24 YoY Revenue 23,545 27,620 17% Gross Profit 2,340 3,168 35% Operating Profit 572 1,146 101% Non-Operating 387 563 46% Income before Tax 958 1,709 78% Net income 455 939 106% EPS (NT$) 0.55 1.14 106% 2024 TSRC Confidential and Proprietary
Slide 7: YTD Sep Revenue by Geography
YTD Sep Revenue by Geography 27,620 23,545 2,572 2,580 4,180 3,584 Others Europe Americas 20,617 16,944 Asia YTD Sep 2023 YTD Sep 2024 Amount in NT$M 2024 TSRC Confidential and Proprietary P.7
Slide 8: YTD Sep Major Equity Investment
YTD Sep Major Equity Investment ISRPL ARL-TSRC 485 232 56 (8) Amount in NT$M Note: numbers shown as TSRC’s investment income of each investee. 2024 TSRC Confidential and Proprietary P.8
Slide 9: Industry dynamics remain favorable
Industry dynamics remain favorable US$/MT NR-BD price gap (RHS) ICIS BD CFR NEA (LHS) 2,000 1,200 1,800 1,000 1,600 800 1,400 600 1,200 400 1,000 200 800 0 600 400 (200) 200 (400) 0 (600) Jul-22 Jul-18 Jul-19 Jul-20 Jul-21 Jul-23 Jul-24 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 2024 TSRC Conf
Slide 10: 2024 Business Review and 2025 Market Outlook
[3] 2024 Business Review and 2025 Market Outlook Joseph Chai, CEO
Slide 11: Delivered improved business result in 2024
Delivered improved business result in 2024 ♦ Strong performance from synthetic rubber business ➢ Capitalized on stable Asian auto market ➢ Optimized customer and product mix ➢ Increased sales volume and captured supply disruption opportunities ♦ Offset extremely challenging TPE business ➢ Industry o
Slide 12: Moderate and Uncertain Outlook for 2025
Moderate and Uncertain Outlook for 2025 ♦ Do not expect much stronger market growth versus 2024 ♦ Structural challenges ➢ Health of the Petrochemical industry continues to deteriorate ➢ Muted growth in mainland China ➢ Heighten geopolitical conflicts ♦ Operating cost is expected to increase further
Slide 13: Key Business Focus for TSRC in 2025
Key Business Focus for TSRC in 2025 ♦ Optimize profitability amidst cost increases through pricing and productivity initiatives ♦ Commercialize operation of Shenhua and ARL- TSRC new plant with safe start-up and smooth customer transition ♦ Expand market penetration of new TPE product grades in medi
Slide 14: Key Investment and ESG Updates
[4] Key Investment and ESG Updates Joseph Chai, CEO
Slide 15: Key investment project updates
Key investment project updates ♦ Shenhua relocation project: ➢ On-track mechanical completion in Oct. 2024 ➢ Production trial in 1Q 2025 ➢ Target to complete full transition to new plant by 1H 2025 2024 TSRC Confidential and Proprietary P.15
Slide 16: Key investment project updates
Key investment project updates ♦ New investment planned to build a 60 KTA SSBR new line in Nantong ➢ New-gen functionalized SSBR (F-SSBR) solutions for Green Tires ➢ F-SSBR offers strong ESG value proposition for EV and green tires ➢ First F-SSBR plant in mainland China to meet demand growth based o
Slide 17: Achieved key ESG milestones in 2024
Achieved key ESG milestones in 2024 ♦ On-track to meet the annual 2.5% carbon reduction goal since 2021 ♦ GRS certificate for recycled PP/SEBS compound. ♦ Commercialized bio-base BR & ESBR ♦ External ESG accolades ➢ EcoVadis “Silver Medal” ➢ Taiwan Corporate Governance Rating at 6-20% ➢ SGS “Sustain
Slide 18: Summary
[5] Summary Joseph Chai, CEO
Slide 19: Summary
Summary • Delivered year-on-year business results improvement amidst a tough economic climate • Expect 2025 market growth to be 01 moderate with uncertainties caused by ♦ Moderate market geopolitical ♦ Leverage business disruptions demand is ♦ Forward long-term business growth resilience and expecte
Slide 20: Q&A
Q&A 2024 TSRC Confidential and Proprietary P.20
Slide 21: Thank You
TSRC CORPORATION