Page 48 - 2025 CPC Corporation,Taiwan

2024 In Summary: 1) The Exploration & Production Business Division incurred a loss before tax in 2024, mainly due to the exploration costs of the B15 mining area in Mexico. The Natural Gas Business Division 's purchasing costs experienced a decline due to a slight decline in international natural gas prices and an appreciation of the US dollar exchange rate, as well as a slight increase in the selling price according to the gas price formula, resulting in a significant reduction in losses compared to the same period of the previous year. Gross profit of the refining and marketing department dropped sharply due to the restricted market prices of refining and petrochemical products, as well as raw material costs. 2) The capital expenditure incurred in 2024 was NT$57.422 million, a 4.039% decrease from 2023. The breakdown of the capital expenditure by division was as follows: Production & manufacturing 44.47% Marketing & transportation 7.89% Others 47.64% 3) The exchange rate between the NT dollar and the US dollar was 32.755:1 on December 31, 2024. STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 (In Thousands of New Taiwan Dollars) Operating Revenues Sales Other operating revenues Total operating revenues Operating Costs and Expenses Cost of sales Oil and gas transmission and storage expense Exploration expenses Other operating cost Total operating costs Gross Profit (Loss) From Operations 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 2024 $ 1,087,936,580 9,405,079 1,097,341,659 1,072,421,986 14,833,587 4,068,164 6,067,486 1,097,391,223 (49,564) 25,634,461 9,708,070 19,474,740 (35,450,695) (2,424,149) $ (33,026,546) 2023 (certification) $ 1,094,717,422 8,765,180 1,103,482,602 1,071,963,846 13,789,544 5,423,110 2,027,904 1,093,204,404 10,278,198 24,057,828 9,037,208 17,669,006 (22,411,428) (1,048,848) $ (21,362,580) 46