Revenue Growth Improvement Turnaround Operating Income
SC Materials Development Optimized Innovative Transformation
The 2018 general shareholders meeting of the company (stock code: 1710) was held today, in which the 2017 business report and financial statement were addressed. The 2017 revenue and profit of the company grew tremendously owing to the constant improvement of EG profit and the full output capacity of both Linyuan and Yangzhou plants. The consolidated revenue of cross-strait in 2017 totaled NTD28.9 billion, an increase of 48% compared to 2016, net operating income NTD3.5 billion, of operating income rate 12%, with attributable net profit after tax NTD1.75 billion, of EPS NTD2.01. The distribution proposal of cash dividend NTD1.75 per share was approved in the meeting.
On account of the prosperous demand of downstream polyester which was sustained by the equable and positive global economy, EG profit growth in Q1/2018 thus maintained. The company’s consolidated revenue of Q1/2018 achieved NTD7.9 billion, an increase of 11% compared to Q1/2017, with attributable net profit after tax NTD0.59 billion, of EPS NTD0.69, an increase of 28% compared to Q1/2017. The 2018 revenue and profit are expected to be recreated based on the slowing down ethylene supply & demand, the finite global EG new capacity, and China’s growing demand on EG import, along with the increasing demand of the reviving market of downstream polyester.
To fulfill the goal in water resources conservation, the company is to install the wastewater recovery system in Linyuan, aiming to recover 70% of the effluents for reuse. And, the energy recovery unit (ERU) will be completed to recover the remained ethylene from exhaust and the 90% of CO2, in terms of energy conservation and carbon reduction, while the boiler discharge equipment enhancement will further reduce an estimated of 120,000 tons of CO2 emissions per year. The company’s ceaseless efforts in the improvement of manufacturing processes, energy efficiency, and waste recycling equipment are to assure of the implementation of the balanced development in industrial production and environmental conservation.
Moreover, to secure the power supply sources, the company is planning on the establishment of a cogeneration system this year to ensure 80% self-sufficiency of its power demand. The company also invests in the coastal ethylene storage tanks to increase raw material sources for the sake of production cost down. Meanwhile, by way of active development in downstream EO derivatives, high-end green materials pursuing, and the strengthening in R&D technology and products’ added value, the company continues its transformation into a diversified chemical manufacturing company to accomplish its ultimate corporate perspective in sustainable development.＃