UMC Reports Fourth Quarter 2017 Results

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.

- FINANCIAL TABLES TO FOLLOW -

 
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of December 31, 2017
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
   
 
December 31, 2017
US$ NT$ %
Assets
Current assets
Cash and cash equivalents 2,743 81,675 20.7%
Financial assets at fair value through profit or loss, current 24 717 0.2%
Notes & Accounts receivable, net 704 20,974 5.3%
Inventories, net 613 18,258 4.6%
Other current assets 589 17,536 4.5%
Total current assets 4,673 139,160 35.3%
 
Non-current assets
Funds and investments 1,143 34,040 8.6%
Property, plant and equipment 6,909 205,742 52.2%
Other non-current assets 509 15,157 3.9%
Total non-current assets 8,561 254,939 64.7%
Total assets 13,234 394,099 100.0%
 
Liabilities
Current liabilities
Short-term loans 854 25,446 6.5%
Payables 949 28,267 7.2%
Current portion of long-term liabilities 919 27,364 6.9%
Other current liabilities 235 6,984 1.8%
Total current liabilities 2,957 88,061 22.4%
 
Non-current liabilities
Bonds payable 795 23,676 6.0%
Long-term loans 995 29,643 7.5%
Other non-current liabilities 1,300 38,681 9.8%
Total non-current liabilities 3,090 92,000 23.3%
Total liabilities 6,047 180,061 45.7%
 
Equity
Equity attributable to the parent company
Capital 4,239 126,243 32.0%
Additional paid-in capital 1,372 40,859 10.4%
Retained earnings, unrealized gain or loss on available-for-sale

financial assets and exchange differences on translation of

foreign operations

1,702 50,698 12.9%
Treasury stock (158) (4,719) (1.2%)
Total equity attributable to the parent company 7,155 213,081 54.1%
Non-controlling interests 32 957 0.2%
Total equity 7,187 214,038 54.3%
Total liabilities and equity 13,234 394,099 100.0%
 
 
 
 
 
 
           
Note:New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 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
December 31, 2017 December 31, 2016 Chg. December 31, 2017 September 30, 2017 Chg.
US$ NT$ US$ NT$ % US$ NT$ US$ NT$ %
Net operating revenues 1,230 36,631 1,286 38,306 (4.4%) 1,230 36,631 1,266 37,698 (2.8%)
Operating costs (1,019) (30,333) (992) (29,547) 2.7% (1,019) (30,333) (1,045) (31,106) (2.5%)
Gross profit 211 6,298 294 8,759 (28.1%) 211 6,298 221 6,592 (4.5%)
17.2% 17.2% 22.9% 22.9% 17.2% 17.2% 17.5% 17.5%
Operating expenses
- Sales and marketing expenses (31) (944) (43) (1,282) (26.4%) (31) (944) (36) (1,070) (11.8%)
- General and administrative expenses (39) (1,164) (51) (1,521) (23.5%) (39) (1,164) (33) (991) 17.5%
- Research and development expenses (104) (3,090) (129) (3,824) (19.2%) (104) (3,090) (112) (3,343) (7.6%)
Subtotal (174) (5,198) (223) (6,627) (21.6%) (174) (5,198) (181) (5,404) (3.8%)
Net other operating income and expenses 27 801 5 144 456.3% 27 801 15 441 81.6%
Operating income 64 1,901 76 2,276 (16.5%) 64 1,901 55 1,629 16.7%
5.2% 5.2% 5.9% 5.9% 5.2% 5.2% 4.3% 4.3%
 
Net non-operating income and expenses (5) (152) (40) (1,210) (87.4%) (5) (152) 41 1,236 -
Income from continuing operations before

income tax

59 1,749 36 1,066 64.1% 59 1,749 96 2,865 (39.0%)
4.8% 4.8% 2.8% 2.8% 4.8% 4.8% 7.6% 7.6%
 
Income tax expense (19) (556) (21) (617) (9.9%) (19) (556) (13) (401) 38.7%
Net income 40 1,193 15 449 165.7% 40 1,193 83 2,464 (51.6%)
3.3% 3.3% 1.2% 1.2% 3.3% 3.3% 6.5% 6.5%
 
Other comprehensive income (loss) (46) (1,366) (20) (591) 131.1% (46) (1,366) (36) (1,068) 27.9%
 
Total comprehensive income (loss) (6) (173) (5) (142) 21.8% (6) (173) 47 1,396 -
 
Net income attributable to:
  Stockholders of the parent 59 1,771 86 2,548 (30.5%) 59 1,771 117 3,473 (49.0%)
  Non-controlling interests (19) (578) (71) (2,099) (72.5%) (19) (578) (34) (1,009) (42.7%)
 
Comprehensive income (loss) attributable to:
  Stockholders of the parent 14 416 64 1,902 (78.1%) 14 416 81 2,402 (82.7%)
  Non-controlling interests (20) (589) (69) (2,044) (71.2%) (20) (589) (34) (1,006) (41.5%)
 
Earnings per share-basic 0.005 0.15 0.007 0.21 0.005 0.15 0.009 0.28
Earnings per ADS (2) 0.025 0.75 0.035 1.05 0.025 0.75 0.047 1.40
Weighted average number of shares
outstanding (in millions) 12,208 12,208 12,208 12,208
 
                                                           
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 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 Twelve-Month Period Ended
December 31, 2017 December 31, 2017
US$ NT$ % US$ NT$ %
Net operating revenues 1,230 36,631 100.0% 5,013 149,285 100.0%
Operating costs (1,019) (30,333) (82.8%) (4,104) (122,227) (81.9%)
Gross profit 211 6,298 17.2% 909 27,058 18.1%
 
 
Operating expenses
- Sales and marketing expenses (31) (944) (2.6%) (142) (4,234) (2.8%)
- General and administrative expenses (39) (1,164) (3.2%) (143) (4,240) (2.8%)
- Research and development expenses (104) (3,090) (8.4%) (459) (13,669) (9.2%)
Subtotal (174) (5,198) (14.2%) (744) (22,143) (14.8%)
Net other operating income and expenses 27 801 2.2% 56 1,653 1.1%
Operating income 64 1,901 5.2% 221 6,568 4.4%
 
Net non-operating income and expenses (5) (152) (0.4%) 41 1,230 0.8%
Income from continuing operations before

income tax

59 1,749 4.8% 262 7,798 5.2%
 
 
Income tax expense (19) (556) (1.5%) (39) (1,167) (0.8%)
Net income 40 1,193 3.3% 223 6,631 4.4%
 
Other comprehensive income (loss) (46) (1,366) (3.8%) (136) (4,034) (2.7%)
 
Total comprehensive income (loss) (6) (173) (0.5%) 87 2,597 1.7%
 
Net income attributable to:
  Stockholders of the parent 59 1,771 4.8% 323 9,629 6.5%
  Non-controlling interests (19) (578) (1.5%) (100) (2,998) (2.1%)
 
Comprehensive income (loss) attributable to:
  Stockholders of the parent 14 416 1.1% 192 5,706 3.8%
  Non-controlling interests (20) (589) (1.6%) (105) (3,109) (2.1%)
 
Earnings per share-basic 0.005 0.15 0.027 0.79
Earnings per ADS (2) 0.025 0.75 0.133 3.95
 
Weighted average number of shares

outstanding (in millions)

12,208 12,208
                                   
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
 
 
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Twelve-Month Period Ended December 31, 2017
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
US$ NT$
Cash flows from operating activities :
Net income before tax 262 7,798
Depreciation & Amortization 1,783 53,099
Exchange gain on financial assets and liabilities (82) (2,432)
Changes in prepayments (68) (2,014)
Changes in other current assets (80) (2,384)
Changes in assets, liabilities and others 6 174
Income tax paid (59) (1,767)
Net cash provided by operating activities 1,762 52,474
 
Cash flows from investing activities :
Proceeds from disposal of available-for-sale financial assets 73 2,160
Proceeds from capital reduction and liquidation of investments 71 2,102
Acquisition of property, plant and equipment (1,485) (44,236)
Acquisition of intangible assets (43) (1,284)
Others 195 5,842
Net cash used in investing activities (1,189) (35,416)
 
Cash flows from financing activities :
Increase in short-term loans 197 5,879
Proceeds from bonds issued 460 13,700
Redemption of bonds (252) (7,500)
Proceeds from long-term loans 403 12,001
Repayments of long-term loans (255) (7,603)
Cash dividends (205) (6,103)
Acquisition of subsidiaries (44) (1,309)
Others 4 97
Net cash provided by financing activities 308 9,162
 
Effect of exchange rate changes on cash and cash equivalents (71) (2,124)
Net Increase in cash and cash equivalents 810 24,096
 
Cash and cash equivalents at beginning of period 1,933 57,579
 
Cash and cash equivalents at end of period 2,743 81,675
 
       
Note: New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 per U.S. Dollar.
 

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