Page 48 - 2024 CPC Corporation,Taiwan

The profit before tax for the Exploration & Production Business Division has decreased in 2023, as compared to 2022, due to the Exploration and Mining Division’s acquisition of 6 new mining areas in 2023, WA533P(Australia), WA64L(including 4 surrounding mining areas), and B15(Mexico), resulting in a significant increase in exploration costs. The natural gas department has experienced a decline due to the decline in international natural gas prices, the purchase cost decreased, and the selling price increased slightly according to the gas price formula, resulting in a significant reduction in losses compared with the same period last year. Gross profit of the refining and marketing department dropped sharply due to the restricted market prices of refining and petrochemical products and raw material costs.
The capital expenditure incurred in 2023 was NT$59,839 million, a 42.42% increase from 2022. The breakdown of the expenditure was as follows:
Production & manufacturing 40.59%
Marketing & transportation 12.44%
Others 46.97%
The exchange rate between the NT dollar and the US dollar was 30.750:1 on December 31, 2023.
STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2023AND 2022
(In Thousands of New Taiwan Dollars)
Operating Revenues
Sales
Other operating revenues
Total operating revenues Operating Costs and Expenses
Cost of goods sold
Exploration expenses
Oil and gas transmission and storage expenses Other operating costs
Total operating costs
Gross Profit(Loss)
Operating Expenses
Non-Operating Income and Gains Non-Operating Expenses and Losses NET (LOSS) BEFORE INCOME TAX Income Tax Expense (Benefit)
NET INCOME (LOSS) FOR THE YEAR
2023
$1,094,717,422
8,751,106 1,103,468,528
1,071,963,846 4,987,928 13,828,931 2,028,153 1,092,808,858 10,659,670 24,086,870 9,037,208 17,102,848 (21,492,840) (1,041,127) $(20,451,713)
2022 (restatement)
$1,210,569,860
11,286,982 1,221,856,842
1,379,828,131 1,758,418 13,544,558 7,404,850 1,402,535,957 (180,679,115) 23,268,191 30,680,235 20,452,060 (193,719,131) (24,994,667) $(168,724,464)
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