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Founder
Lin, Y. C.
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Chairman
Lin, P F |
Mng. Dir. & President
Lin, P S |
Managing Dir.
Lin, P C |
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| Chairman's message to shareholders |
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TG Group 2008 Consolidated Performance Report |
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Since establishment in 1964 by founder Lin Yu-Chia,
TGI has been concentrating on the development in the glass industry
and has become the largest general glass company in the three regions of China across the Taiwan Strait.
The 2008 financial crisis caused a global recession and slowed business growth.
Although TGI”¦s sales volume and revenue increased mildly, income before tax was less than that of previous year.
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| Sales
Volume: |
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2,611,000 MT (+7.4%) |
| Operating Revenue: |
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U$987 mil (+2.5%) |
| Operating Income: |
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U$ 41 mil (-65.8%) |
| Non-Operating Income:
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U$ 12 mil (-45.0%) |
| Income before Tax: |
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U$ 53 mil (-62.5%) |
| Income after Tax: |
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U$ 41 mil (-61.4%), EPS U$0.021 |
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| Production |
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| Flat
Glass |
Taiwan |
4 float plants & 1 rolled glass plant,
annual production 537,000 MT (-6.8%) |
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China |
10 float plants & 6 rolled glass plants,
annual production 1,848,000 MT (+19.2%) |
| Fabric
& Fiber |
Taiwan |
9 fabric glass plants & 6 fiber glass plants,
annual production 97,000 MT (+1.4%) |
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China |
4 fabric glass plants,
annual production 38,000 MT (+72.2%) |
| Glassware
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Taiwan |
6 plants, annual production 131,000 MT (+8.0%) |
| Auto-Glass
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Taiwan |
TAG plant, annual production 8,000 MT (-20.6%) |
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| Group
Total |
2,659,000 MT (+11.9%) |
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| Sale |
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| Flat
Glass |
Taiwan |
Volume 518,000 MT (-2.7%),
sales revenue U$209 mil (+7.0%) |
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China |
Volume 1,857,000 MT (+12.9%),
sales revenue U$497 mil (+14.3%) |
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Total |
2,375,000 MT, U$706 mil
(+12.0%)
67.2% of group sales |
| Fabric
& Fiber |
Taiwan |
Volume 72,000 MT (-23.4%)
sales revenue U$167 mil (-24.9%) |
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China |
Volume 28,000 MT (+30.3%)
sales revenue U$76 mil (+13.9%) |
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Total |
100,000 MT, U$244 mil (-15.9%)
23.2% of group sales |
| Glassware
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Taiwan |
Volume 128,000 MT
sales revenue U$82 mil (+10.0%)
7.8% of group sales |
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| Auto-Glass
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Taiwan |
Volume 8,000 MT
sales revenue U$19 mil (-11.7%)
1.8% of group sales |
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| Group
Total |
2,611,000 MT
revenue U$1,050 mil (+3.4%)
domestic market 66% and export 34% |
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Expansion Projects |
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Completed in 2008: |
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TG Chengdu Glass Co., Ltd.
(CDG2) |
280,000 MT float glass line
ground breaking in 2006 Feb
production in 2008 Feb |
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TG Chengdu Glass Co., Ltd.
(Low-E) |
44,000MT/year glass coating line
ground breaking in 2008 Apr
production in 2008 Sep |
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TG Huanan Glass Co., Ltd.
(HNG2) |
280,000 MT float glass line
ground breaking in 2007 Jan
production in 2008 Jun |
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TG Taichia Glass Fiber Co., Ltd.
(TGF4) |
10,000 MT float glass line
ground breaking in 2006 Mar
production in 2008 Mar |
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Under Construction In 2009: |
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Taiwan Hsinchu Factory.
(TS-7) |
42,000MT container glass line
ground breaking in 2008 May
production in 2009 1Q |
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Taiwan Taoyuan Factory
(TT-1) |
60K MT FRP line
ground breaking in 2009 Nov
production in 2010 4Q |
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Taiwan Lukang Factory
(TF-4) |
36K MT TCO coating line
installation to be completed in 2010 Jan
production in 2010 2Q |
TG Fujian Photovoltaic Glass Co., Ltd
(FPG) |
50K MT/year of Super Clear Rolled PV Glass
ground breaking in 2009 Jun
production in 2010 2Q |
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| Operation
Perspectives |
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| The operating result of 2009 1st quarter, having been affected by 2008 financial crisis, was an after tax loss of U$14 million, the first loss since establishment.
2009 2nd quarter projects an even keel, while 2009 2nd half will see a rise in operating income, with the projection of economic improvement.
TGI credits its successful development to each shareholder, and expresses its appreciation to customers, architects, wholesalers, and suppliers for their long-term support in market promotions and creations. Again they deserve our highest thanks.
To follow TGI”¦s operation concepts, all of TGI”¦s directors and members will spare no efforts with the goal of becoming a long lasting glass business.
Taiwan Markets: The development of high quality building materials and photovoltaic glass substrate, and the expansion of our glass fiber furnace to an annual capacity 60,000 m.t.
for lower production cost.
China Markets: The
development of high-end
energy-saving Low-E glass
and full utilization of the
group and each business
unit”¦s competitive advantage
to expand market share, to
increase profit and to
enhance operational
capability.
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I beseech
each shareholder's continuous
support.
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Lin, Por-Fong June 10, 2009 |
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