Formosa Plastics Reports Second Consecutive Annual Loss; Chairman Predicts Turnaround

Central News Agency, Taipei, May 28. Formosa Plastics held its annual general meeting today. Impacted by oversupply in Asia and reciprocal tariffs from the U.S., the company reported a net loss of NT$10.049 billion for 2025, its second consecutive year of losses, with a loss per share of NT$1.58. Chairman Kuo Wen-pi apologized to shareholders for the poor performance. Looking ahead to 2026, Kuo expects Q2 profits to significantly outperform Q1, leading to a full-year turnaround. Kuo noted that Q1 profits reached NT$3.268 billion, a 64-fold increase year-on-year, driven by supply disruptions in the Middle East due to the U.S.-Iran conflict. He remains optimistic for the second half, as damaged energy infrastructure in the Middle East will likely reduce supply and ease overcapacity in Asia. Additionally, infrastructure projects in India and Vietnam are expected to boost sales. Despite the loss, the company approved a cash dividend of NT$0.5 per share. Environmental groups protested at the meeting, arguing against dividend payouts while the company is in the red and demanding funds be redirected toward climate transition and environmental restoration.