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Process Industries

Formosa Plastics Corp.

  • 105.00 TWD
  • -1.50
  • -1.41%
  • Taiwan
    Mar 18, 2019
  • Ticker
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  • Market cap (TWD)
  • Market cap (USD)
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Company Background

Founded in 1954 by the late tycoon Wang Yung-ching with financial aid from the U.S. government, Formosa Plastics is the flagship company of Formosa Plastics Group, one of Taiwan's largest family-controlled conglomerates, with business interests in a wide range of sectors, including plastics, chemicals, electronics components, healthcare and education.

Formosa Plastics is Taiwan's biggest petrochemical company by market cap and a global leader in the polyvinyl chloride, or PVC, sector. The company makes and sells PVC resin, chemical and fiber products.

Since Wang passed away, his family has gradually reduced their involvement in the group's day-to-day decisions by bringing in external managers or allowing non-family executives to oversee the conglomerate's operations. The Wangs still maintain a controlling stake in the group.

The current chairman is Jason Lin, a longtime company employee who rose through the ranks. Lin joined Formosa Plastics in 1967, but left the company in 1987 and rejoined in 1999. He has a master's degree from Wageningen University in the Netherlands.

Business Summary

Formosa Plastics Corp. manufactures and sells intermediate raw materials for plastics. Its products include polyvinyl chloride, high-density polyethylene, low-density polyethylene, linear low-density polyethylene, polyethylene wax, polypropylene, polyoxymethylene, masterbatch, liquid caustic soda, liquid chlorine, acrylonitrile, acetonitrile, methyl methacrylate, methacrylic acid, epichlorohydrin, methyl tert-butyl ether, acrylic acid & esters, carbon fiber, sodium hypochlorite, chlorinated solvent, hydrogen, lithium-ion battery electrolyte, calcium carbonate, distributed control systems system, warehouse management system, and learning management system. Its products are used in packaging materials, bottle, articles of clothing, toy dolls, medical materials, sports equipment, sporting goods, auto parts, generation timber, motor parts, wire and cable, ships aerospace, paint coating, chemical building materials, waterproof insulation, furniture furnishings, tool parts, 3C parts coated, 3C shell timber, master batch pigment, additives, clean bleach, civil farm animals film with a bag, bottle box barrel, and dry water retention. The company was founded on November 5, 1954 and is headquartered in Taipei, Taiwan.

Financial Highlights

Dec 2018 TWDUSD
Gross Profit----
Operating income25,300M839.01M
Income before tax33,000M1,094.36M
Net income49,500M1,641.54M
Diluted EPS----
Dividends Per Share----
Total Assets----
Total liabilities----
Total equity----
Operating cash flow----
Currency in TWDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 216,589.04M 191,545.39M 180,173.19M 206,709.75M 230,300M
Gross Profit 16,171.47M 21,406.07M 23,910.38M 33,128.74M --
Operating income 5,478.80M 10,467M 12,994.52M 21,923.89M 25,300M
Income before tax 20,551.55M 35,094.30M 43,813.94M 54,904.34M 33,000M
Net income 17,993.43M 30,877.26M 39,392.54M 49,382.85M 49,500M
EBITDA 13,578.84M 18,856.55M 21,957.51M 30,373.99M --
Diluted EPS 2.83 4.85 6.19 7.76 --
Dividends Per Share 1.70 3.60 4.60 5.70 --
Total Assets 431,086.69M 423,501.05M 455,666.07M 476,071.03M --
Total liabilities 145,194.97M 136,066.14M 142,595.58M 131,060.87M --
Total equity 285,891.71M 287,434.90M 313,070.48M 345,010.16M --
Operating cash flow 13,438.39M 40,852.00M 36,606.27M 46,081.53M --
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 7,147.39M 6,032.15M 5,586.62M 6,794.58M 7,637.34M
Gross Profit 533.65M 674.12M 741.38M 1,088.94M --
Operating income 180.79M 329.62M 402.92M 720.64M 839.01M
Income before tax 678.19M 1,105.19M 1,358.53M 1,804.71M 1,094.36M
Net income 593.77M 972.38M 1,221.44M 1,623.22M 1,641.54M
EBITDA 448.09M 593.83M 680.83M 998.39M --
Diluted EPS 0.09 0.15 0.19 0.25 --
Dividends Per Share 0.05 0.11 0.14 0.18 --
Total Assets 13,641.12M 12,893.14M 14,138.38M 15,997.81M --
Total liabilities 4,594.48M 4,142.42M 4,424.44M 4,404.14M --
Total equity 9,046.63M 8,750.72M 9,713.93M 11,593.66M --
Operating cash flow 443.46M 1,286.51M 1,135.04M 1,514.70M --

Valuation Measures

Dec 2018
Operating margin10.98%
Profit margin21.49%

Key executives

  • Chairman & General Manager: Chien Nan Lin
  • Chief Financial Officer: Chen Hsiao Lei
  • Director: Wen Chin Hsiao
  • Deputy General Manager: Kuang Ming Chen
  • Deputy General Manager: Chien Shan Yang


  • Chang Gung Medical Foundation (9.4%)
  • Formosa Chemicals & Fibre Corp. (7.6%)
  • Credit Suisse Singapore Ltd. (Private Banking) (6.2%)
  • Nan Ya Plastics Corp. (4.6%)
  • Everred Corporate, Inc. (4.1%)
  • Landmark Capital Holdings, Inc. (3.0%)
  • The Vanguard Group, Inc. (2.6%)
  • Formosa Petrochemical Corp. (2.0%)
  • BlackRock Fund Advisors (1.8%)
  • Fubon Life Insurance Co., Ltd. (1.5%)

Contact Details

  • Website:
  • Address: 4th Floor, No. 201 Tung Hwa North Road, Taipei, 105 08, Taiwan
  • Phone: +886.2.2712.2211

Related Companies

  • Formosa PS (Ningbo) Co. Ltd.
  • Formosa Polypropylene (Ningbo) Co. Ltd.
  • Formosa Plastics (Cayman) Ltd.
  • Formosa Technologies Corp.
  • Formosa Ha Tinh Steel Corp.
  • World Pak Corp.
  • Formosa Plastics Marine Corp.
  • ITC-Formosa LLC
  • Tai Hsu Fibers Corp.
  • Formosa Plastics Corp. USA
  • Borden Chemicals & Plastics Operating LP /Plyvnyl Chlrd Ops/


  • China Petrochemical Development Corporation
  • Braskem S.A. Pfd A
  • Westlake Chemical Corporation
  • Sumitomo Chemical Co., Ltd.
  • Taiwan Fertilizer Co., Ltd.
  • Mexichem SAB de CV
  • Asia Polymer Corporation
  • Trinseo SA
  • USI Corporation
  • Superior Plus Corp
  • Ledtech Electronics Corp.
  • Shandong Ruifeng Chemical Co., Ltd. Class A
Last Updated on 18 Mar, 2019

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