The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.
This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
- FINANCIAL TABLES TO FOLLOW -
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||
| Consolidated Condensed Balance Sheet | |||||||||
| As of June 30, 2019 | |||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||
| June 30, 2019 | |||||||||
| US$ | NT$ | % | |||||||
| Assets | |||||||||
| Current assets | |||||||||
| Cash and cash equivalents | 2,909 |
90,356 |
24.4% |
||||||
| Financial assets at fair value through profit or loss, current | 20 |
614 |
0.2% |
||||||
| Notes & Accounts receivable, net | 785 |
24,386 |
6.6% |
||||||
| Inventories, net | 632 |
19,629 |
5.3% |
||||||
| Other current assets | 500 |
15,522 |
4.2% |
||||||
| Total current assets | 4,846 |
150,507 |
40.7% |
||||||
| Non-current assets | |||||||||
| Funds and investments | 1,219 |
37,861 |
10.2% |
||||||
| Property, plant and equipment | 5,101 |
158,440 |
42.8% |
||||||
| Right-of-use assets | 268 |
8,315 |
2.3% |
||||||
| Other non-current assets | 476 |
14,812 |
4.0% |
||||||
| Total non-current assets | 7,064 |
219,428 |
59.3% |
||||||
| Total assets | 11,910 |
369,935 |
100.0% |
||||||
| Liabilities | |||||||||
| Current liabilities | |||||||||
| Short-term loans | 525 |
16,320 |
4.4% |
||||||
| Payables | 763 |
23,707 |
6.4% |
||||||
| Dividends payable | 223 |
6,916 |
1.9% |
||||||
| Current portion of long-term liabilities | 744 |
23,105 |
6.3% |
||||||
| Other current liabilities | 226 |
7,007 |
1.8% |
||||||
| Total current liabilities | 2,481 |
77,055 |
20.8% |
||||||
| Non-current liabilities | |||||||||
| Bonds payable | 602 |
18,686 |
5.1% |
||||||
| Long-term loans | 860 |
26,708 |
7.2% |
||||||
| Lease liabilities, noncurrent | 174 |
5,395 |
1.5% |
||||||
| Other non-current liabilities | 1,287 |
39,997 |
10.8% |
||||||
| Total non-current liabilities | 2,923 |
90,786 |
24.6% |
||||||
| Total liabilities | 5,404 |
167,841 |
45.4% |
||||||
| Equity | |||||||||
| Equity attributable to the parent company | |||||||||
| Capital | 3,775 |
117,243 |
31.7% |
||||||
| Additional paid-in capital | 1,263 |
39,240 |
10.6% |
||||||
| Retained earnings, exchange differences on translation of
foreign operations, unrealized gains or losses on financial assets measured at fair value through other comprehensive income and gains or losses on hedging Instruments |
1,459 |
45,301 |
12.2% |
||||||
| Treasury stock | (4) |
(120) |
(0.0%) |
||||||
| Total equity attributable to the parent company | 6,493 |
201,664 |
54.5% |
||||||
| Non-controlling interests | 13 |
430 |
0.1% |
||||||
| Total equity | 6,506 |
202,094 |
54.6% |
||||||
| Total liabilities and equity | 11,910 |
369,935 |
100.0% |
||||||
| Note：New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 per U.S. Dollar. | |||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income | |||||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||||||||||
| Except Per Share and Per ADS Data | |||||||||||||||||||
| Year over Year Comparison | Quarter over Quarter Comparison | ||||||||||||||||||
| Three-Month Period Ended | Three-Month Period Ended | ||||||||||||||||||
| June 30, 2019 | June 30, 2018 | Chg. | June 30, 2019 | March 31, 2019 | Chg. | ||||||||||||||
| US$ | NT$ | US$ | NT$ | % | US$ | NT$ | US$ | NT$ | % | ||||||||||
| Operating revenues | 1,160 |
36,031 |
1,251 |
38,852 |
(7.3%) |
1,160 |
36,031 |
1,049 |
32,583 |
10.6% |
|||||||||
| Operating costs | (978) |
(30,379) |
(1,036) |
(32,177) |
(5.6%) |
(978) |
(30,379) |
(976) |
(30,321) |
0.2% |
|||||||||
| Gross profit | 182 |
5,652 |
215 |
6,675 |
(15.3%) |
182 |
5,652 |
73 |
2,262 |
149.9% |
|||||||||
| 15.7% |
15.7% |
17.2% |
17.2% |
15.7% |
15.7% |
6.9% |
6.9% |
||||||||||||
| Operating expenses | |||||||||||||||||||
| - Sales and marketing expenses | (31) |
(953) |
(36) |
(1,103) |
(13.6%) |
(31) |
(953) |
(29) |
(889) |
7.2% |
|||||||||
| - General and administrative expenses | (39) |
(1,251) |
(35) |
(1,083) |
15.5% |
(39) |
(1,251) |
(40) |
(1,236) |
1.1% |
|||||||||
| - Research and development expenses | (90) |
(2,787) |
(97) |
(3,027) |
(7.9%) |
(90) |
(2,787) |
(90) |
(2,807) |
(0.7%) |
|||||||||
| - Expected credit losses | (19) |
(587) |
- |
- |
100.0% |
(19) |
(587) |
- |
- |
100.0% |
|||||||||
| Subtotal | (179) |
(5,578) |
(168) |
(5,213) |
7.0% |
(179) |
(5,578) |
(159) |
(4,932) |
13.1% |
|||||||||
| Net other operating income and expenses | 54 |
1,687 |
55 |
1,719 |
(1.9%) |
54 |
1,687 |
35 |
1,073 |
57.2% |
|||||||||
| Operating income (loss) | 57 |
1,761 |
102 |
3,181 |
(44.6%) |
57 |
1,761 |
(51) |
(1,597) |
- |
|||||||||
| 4.9% |
4.9% |
8.2% |
8.2% |
4.9% |
4.9% |
(4.9%) |
(4.9%) |
||||||||||||
| Net non-operating income and expenses | (20) |
(617) |
(35) |
(1,095) |
(43.7%) |
(20) |
(617) |
40 |
1,247 |
- |
|||||||||
| Income (loss) from continuing operations
before income tax |
37 |
1,144 |
67 |
2,086 |
(45.2%) |
37 |
1,144 |
(11) |
(350) |
- |
|||||||||
| 3.2% |
3.2% |
5.4% |
5.4% |
3.2% |
3.2% |
(1.1%) |
(1.1%) |
||||||||||||
| Income tax benefit (expense) | (7) |
(202) |
11 |
331 |
- |
(7) |
(202) |
14 |
443 |
- |
|||||||||
| Net income | 30 |
942 |
78 |
2,417 |
(61.0%) |
30 |
942 |
3 |
93 |
917.6% |
|||||||||
| 2.6% |
2.6% |
6.2% |
6.2% |
2.6% |
2.6% |
0.3% |
0.3% |
||||||||||||
| Other comprehensive income (loss) | 24 |
743 |
85 |
2,641 |
(71.9%) |
24 |
743 |
116 |
3,614 |
(79.5%) |
|||||||||
| Total comprehensive income (loss) | 54 |
1,685 |
163 |
5,058 |
(66.7%) |
54 |
1,685 |
119 |
3,707 |
(54.6%) |
|||||||||
| Net income attributable to: | |||||||||||||||||||
| Stockholders of the parent | 56 |
1,740 |
118 |
3,659 |
(52.4%) |
56 |
1,740 |
39 |
1,201 |
44.9% |
|||||||||
| Non-controlling interests | (26) |
(798) |
(40) |
(1,242) |
(35.7%) |
(26) |
(798) |
(36) |
(1,108) |
(28.0%) |
|||||||||
| Comprehensive income (loss) attributable to: | |||||||||||||||||||
| Stockholders of the parent | 80 |
2,488 |
203 |
6,297 |
(60.5%) |
80 |
2,488 |
155 |
4,813 |
(48.3%) |
|||||||||
| Non-controlling interests | (26) |
(803) |
(40) |
(1,239) |
(35.2%) |
(26) |
(803) |
(36) |
(1,106) |
(27.4%) |
|||||||||
| Earnings per share-basic | 0.005 |
0.15 |
0.010 |
0.30 |
0.005 |
0.15 |
0.003 |
0.10 |
|||||||||||
| Earnings per ADS (2) | 0.024 |
0.75 |
0.048 |
1.50 |
0.024 |
0.75 |
0.016 |
0.50 |
|||||||||||
| Weighted average number of shares | |||||||||||||||||||
| outstanding (in millions) | 11,818 |
12,049 |
11,818 |
11,909 |
|||||||||||||||
| Notes: | |||||||||||||||||||
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 per U.S. Dollar. | |||||||||||||||||||
| (2) 1 ADS equals 5 common shares. | |||||||||||||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||||
| Consolidated Condensed Statements of Comprehensive Income | |||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||
| Except Per Share and Per ADS Data | |||||||||||
| For the Three-Month Period Ended | For the Six-Month Period Ended | ||||||||||
| June 30, 2019 | June 30, 2019 | ||||||||||
| US$ | NT$ | % | US$ | NT$ | % | ||||||
| Operating revenues | 1,160 |
36,031 |
100.0% |
2,209 |
68,614 |
100.0% |
|||||
| Operating costs | (978) |
(30,379) |
(84.3%) |
(1,954) |
(60,700) |
(88.5%) |
|||||
| Gross profit | 182 |
5,652 |
15.7% |
255 |
7,914 |
11.5% |
|||||
| Operating expenses | |||||||||||
| - Sales and marketing expenses | (31) |
(953) |
(2.6%) |
(59) |
(1,841) |
(2.7%) |
|||||
| - General and administrative expenses | (39) |
(1,251) |
(3.6%) |
(81) |
(2,488) |
(3.5%) |
|||||
| - Research and development expenses | (90) |
(2,787) |
(7.7%) |
(180) |
(5,594) |
(8.2%) |
|||||
| - Expected credit losses | (19) |
(587) |
(1.6%) |
(19) |
(587) |
(0.9%) |
|||||
| Subtotal | (179) |
(5,578) |
(15.5%) |
(339) |
(10,510) |
(15.3%) |
|||||
| Net other operating income and expenses | 54 |
1,687 |
4.7% |
89 |
2,760 |
4.0% |
|||||
| Operating income | 57 |
1,761 |
4.9% |
5 |
164 |
0.2% |
|||||
| Net non-operating income and expenses | (20) |
(617) |
(1.7%) |
21 |
630 |
1.0% |
|||||
| Income from continuing operations
before income tax |
37 |
1,144 |
3.2% |
26 |
794 |
1.2% |
|||||
| Income tax benefit (expense) | (7) |
(202) |
(0.6%) |
7 |
241 |
0.3% |
|||||
| Net income | 30 |
942 |
2.6% |
33 |
1,035 |
1.5% |
|||||
| Other comprehensive income (loss) | 24 |
743 |
2.1% |
141 |
4,357 |
6.4% |
|||||
| Total comprehensive income (loss) | 54 |
1,685 |
4.7% |
174 |
5,392 |
7.9% |
|||||
| Net income attributable to: | |||||||||||
| Stockholders of the parent | 56 |
1,740 |
4.8% |
95 |
2,942 |
4.3% |
|||||
| Non-controlling interests | (26) |
(798) |
(2.2%) |
(62) |
(1,907) |
(2.8%) |
|||||
| Comprehensive income (loss) attributable to: | |||||||||||
| Stockholders of the parent | 80 |
2,488 |
6.9% |
235 |
7,301 |
10.6% |
|||||
| Non-controlling interests | (26) |
(803) |
(2.2%) |
(61) |
(1,909) |
(2.7%) |
|||||
| Earnings per share-basic | 0.005 |
0.15 |
0.008 |
0.25 |
|||||||
| Earnings per ADS (2) | 0.024 |
0.75 |
0.040 |
1.25 |
|||||||
| Weighted average number of shares
outstanding (in millions) |
11,818 |
11,863 |
|||||||||
| Notes: | |||||||||||
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 per U.S. Dollar. | |||||||||||
| (2) 1 ADS equals 5 common shares. | |||||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||
| Consolidated Condensed Statement of Cash Flows | ||||
| For The Six-Month Period Ended June 30, 2019 | ||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||
| US$ | NT$ | |||
| Cash flows from operating activities : | ||||
| Net income before tax | 26 |
794 |
||
| Depreciation & Amortization | 791 |
24,565 |
||
| Expected credit losses | 19 |
587 |
||
| Net gain of financial assets and liabilities at fair value through profit or loss | (24) |
(758) |
||
| Changes in notes & accounts receivable | (38) |
(1,184) |
||
| Changes in inventories | (44) |
(1,363) |
||
| Changes in assets, liabilities and others | (72) |
(2,190) |
||
| Net cash provided by operating activities | 658 |
20,451 |
||
| Cash flows from investing activities : | ||||
| Acquisition of property, plant and equipment | (305) |
(9,467) |
||
| Acquisition of intangible assets | (25) |
(777) |
||
| Others | 12 |
374 |
||
| Net cash used in investing activities | (318) |
(9,870) |
||
| Cash flows from financing activities : | ||||
| Increase in short-term loans | 97 |
3,001 |
||
| Redemption of bonds | (80) |
(2,500) |
||
| Proceeds from long-term loans | 25 |
783 |
||
| Repayments of long-term loans | (81) |
(2,518) |
||
| Treasury stock acquired | (96) |
(2,972) |
||
| Others | (3) |
(82) |
||
| Net cash used in financing activities | (138) |
(4,288) |
||
| Effect of exchange rate changes on cash and cash equivalents | 13 |
406 |
||
| Net increase in cash and cash equivalents | 215 |
6,699 |
||
| Cash and cash equivalents at beginning of period | 2,694 |
83,662 |
||
| Cash and cash equivalents at end of period | 2,909 |
90,361 |
||
| Reconciliation of the balances of cash and cash equivalents at end of period : | ||||
| Cash and cash equivalents balances on the consolidated balance sheets | 2,909 |
90,356 |
||
| Cash and cash equivalents included in non-current assets held for sale | 0 |
5 |
||
| Cash and cash equivalents at end of period | 2,909 |
90,361 |
||
| Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 per U.S. Dollar. | ||||
