UMC Reports Third Quarter 2021 Results

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of September 30, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	September 30, 2021
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	4,063	113,105	26.4%
Notes & Accounts receivable, net	1,185	32,986	7.7%
Inventories, net	832	23,150	5.4%
Other current assets	1,521	42,363	9.8%
Total current assets	7,601	211,604	49.3%

Non-current assets
Funds and investments	2,256	62,817	14.7%
Property, plant and equipment	4,515	125,702	29.3%
Right-of-use assets	260	7,239	1.7%
Other non-current assets	770	21,431	5.0%
Total non-current assets	7,801	217,189	50.7%
Total assets	15,402	428,793	100.0%

Liabilities
Current liabilities
Short-term loans	77	2,135	0.5%
Payables	1,322	36,800	8.6%
Current portion of long-term liabilities	795	22,128	5.2%
Other current liabilities	843	23,482	5.4%
Total current liabilities	3,037	84,545	19.7%

Non-current liabilities
Bonds payable	721	20,083	4.7%
Long-term loans	1,114	31,006	7.2%
Lease liabilities, noncurrent	166	4,622	1.1%
Other non-current liabilities	1,111	30,933	7.2%
Total non-current liabilities	3,112	86,644	20.2%
Total liabilities	6,149	171,189	39.9%

Equity
Equity attributable to the parent company
Capital	4,462	124,233	29.0%
Additional paid-in capital	1,555	43,293	10.0%
Retained earnings and other components of equity	3,234	90,043	21.0%
Treasury stock	(4)	(120)	(0.0%)
Total equity attributable to the parent company	9,247	257,449	60.0%
Non-controlling interests	6	155	0.1%
Total equity	9,253	257,604	60.1%
Total liabilities and equity	15,402	428,793	100.0%

Note：New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2021 exchange rate of NT $27.84 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
	September 30, 2021		September 30, 2020		Chg.	September 30, 2021		June 30, 2021		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	2,008	55,907	1,612	44,870	24.6%	2,008	55,907	1,829	50,908	9.8%
Operating costs	(1,270)	(35,363)	(1,261)	(35,101)	0.7%	(1,270)	(35,363)	(1,258)	(35,000)	1.0%
Gross profit	738	20,544	351	9,769	110.3%	738	20,544	571	15,908	29.1%
	36.8%	36.8%	21.8%	21.8%		36.8%	36.8%	31.3%	31.3%
Operating expenses
- Sales and marketing expenses	(44)	(1,212)	(36)	(1,009)	20.1%	(44)	(1,212)	(41)	(1,131)	7.2%
- General and administrative expenses	(75)	(2,119)	(58)	(1,614)	31.2%	(75)	(2,119)	(68)	(1,901)	11.5%
- Research and development expenses	(119)	(3,303)	(119)	(3,314)	(0.3%)	(119)	(3,303)	(114)	(3,168)	4.3%
- Expected credit impairment gain (loss)	(0)	(2)	15	429	-	(0)	(2)	(0)	(1)	46.7%
Subtotal	(238)	(6,636)	(198)	(5,508)	20.5%	(238)	(6,636)	(223)	(6,201)	7.0%
Net other operating income and expenses	44	1,227	103	2,872	(57.3%)	44	1,227	58	1,606	(23.6%)
Operating income	544	15,135	256	7,133	112.2%	544	15,135	406	11,313	33.8%
	27.1%	27.1%	15.9%	15.9%		27.1%	27.1%	22.2%	22.2%

Net non-operating income and expenses	155	4,317	75	2,074	108.2%	155	4,317	68	1,881	129.5%
Income from continuing operations before income tax	699	19,452	331	9,207	111.3%	699	19,452	474	13,194	47.4%
	34.8%	34.8%	20.5%	20.5%		34.8%	34.8%	25.9%	25.9%

Income tax expenses	(76)	(2,100)	(7)	(197)	966.1%	(76)	(2,100)	(48)	(1,327)	58.2%
Net income	623	17,352	324	9,010	92.6%	623	17,352	426	11,867	46.2%
	31.0%	31.0%	20.1%	20.1%		31.0%	31.0%	23.3%	23.3%

Other comprehensive income (loss)	(13)	(370)	50	1,390	-	(13)	(370)	(69)	(1,935)	(80.9%)

Total comprehensive income (loss)	610	16,982	374	10,400	63.3%	610	16,982	357	9,932	71.0%

Net income attributable to:
Shareholders of the parent	627	17,460	327	9,106	91.7%	627	17,460	429	11,943	46.2%
Non-controlling interests	(4)	(108)	(3)	(96)	12.0%	(4)	(108)	(3)	(76)	41.6%

Comprehensive income (loss) attributable to:
Shareholders of the parent	614	17,090	377	10,497	62.8%	614	17,090	359	10,008	70.8%
Non-controlling interests	(4)	(108)	(3)	(97)	12.0%	(4)	(108)	(2)	(76)	41.6%

Earnings per share-basic	0.051	1.43	0.027	0.75		0.051	1.43	0.035	0.98
Earnings per ADS ⁽²⁾	0.257	7.15	0.135	3.75		0.257	7.15	0.176	4.90
Weighted average number of shares
outstanding (in millions)		12,206		12,108			12,206		12,206

Notes:

(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2021 exchange rate of NT $27.84 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 Nine-Month Period Ended
	September 30, 2021			September 30, 2021
	US$	NT$	%	US$	NT$	%
Operating revenues	2,008	55,907	100.0%	5,528	153,911	100.0%
Operating costs	(1,270)	(35,363)	(63.2%)	(3,770)	(104,965)	(68.2%)
Gross profit	738	20,544	36.8%	1,758	48,946	31.8%


Operating expenses
- Sales and marketing expenses	(44)	(1,212)	(2.2%)	(123)	(3,432)	(2.2%)
- General and administrative expenses	(75)	(2,119)	(3.8%)	(209)	(5,825)	(3.8%)
- Research and development expenses	(119)	(3,303)	(5.9%)	(342)	(9,521)	(6.2%)
- Expected credit impairment gain (loss)	(0)	(2)	(0.0%)	0	9	0.0%
Subtotal	(238)	(6,636)	(11.9%)	(674)	(18,769)	(12.2%)
Net other operating income and expenses	44	1,227	2.2%	140	3,893	2.5%
Operating income	544	15,135	27.1%	1,224	34,070	22.1%

Net non-operating income and expenses	155	4,317	7.7%	343	9,559	6.3%
Income from continuing operations before income tax	699	19,452	34.8%	1,567	43,629	28.4%


Income tax expense	(76)	(2,100)	(3.8%)	(162)	(4,522)	(3.0%)
Net income	623	17,352	31.0%	1,405	39,107	25.4%

Other comprehensive income (loss)	(13)	(370)	(0.6%)	45	1,251	0.8%

Total comprehensive income (loss)	610	16,982	30.4%	1,450	40,358	26.2%

Net income attributable to:
Shareholders of the parent	627	17,460	31.2%	1,431	39,831	25.9%
Non-controlling interests	(4)	(108)	(0.2%)	(26)	(724)	(0.5%)

Comprehensive income (loss) attributable to:
Shareholders of the parent	614	17,090	30.6%	1,476	41,082	26.7%
Non-controlling interests	(4)	(108)	(0.2%)	(26)	(724)	(0.5%)

Earnings per share-basic	0.051	1.43		0.117	3.26
Earnings per ADS ⁽²⁾	0.257	7.15		0.585	16.30

Weighted average number of shares outstanding (in millions)		12,206			12,206

Notes:

(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2021 exchange rate of NT $27.84 per U.S. Dollar.

(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Nine-Month Period Ended September 30, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	1,567	43,629
Depreciation & Amortization	1,266	35,258
Share of profit of associates and joint ventures	(216)	(6,004)
Income tax paid	(62)	(1,715)
Changes in working capital & others	(273)	(7,638)
Net cash provided by operating activities	2,282	63,530

Cash flows from investing activities :
Acquisition of property, plant and equipment	(1,197)	(33,328)
Acquisition of intangible assets	(66)	(1,825)
Increase in other financial assets	(595)	(16,578)
Others	104	2,906
Net cash used in investing activities	(1,754)	(48,825)

Cash flows from financing activities :
Decrease in short-term loans	(314)	(8,750)
Proceeds from bonds issued	746	20,761
Redemption of bonds	(72)	(2,000)
Proceeds from long-term loans	524	14,591
Repayments of long-term loans	(336)	(9,367)
Increase in guarantee deposits	407	11,324
Cash dividends	(714)	(19,870)
Others	(21)	(565)
Net cash provided by financing activities	220	6,124

Effect of exchange rate changes on cash and cash equivalents	(63)	(1,772)
Net increase in cash and cash equivalents	685	19,057

Cash and cash equivalents at beginning of period	3,378	94,048

Cash and cash equivalents at end of period	4,063	113,105

Note: New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2021 exchange rate of NT $27.84 per U.S. Dollar.

________________________

¹ Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending September 30, 2021, the three-month period ending June 30, 2021, and the equivalent three-month period that ended September 30, 2020. For all 3Q21 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the September 30, 2021 exchange rate of NT$ 27.84 per U.S. Dollar.

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity . The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.

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