UMC Reports Second Quarter 2020 Results

- FINANCIAL TABLES TO FOLLOW -

                UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES  
   Consolidated Condensed Balance Sheet
As of June 30, 2020
 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
 
June 30, 2020
US$ NT$ %
Assets
Current assets
 Cash and cash equivalents

3,371

99,872

27.2%

 Notes & Accounts receivable, net

920

27,260

7.4%

 Inventories, net

788

23,342

6.4%

 Other current assets

589

17,481

4.7%

    Total current assets

5,668

167,955

45.7%

 
Non-current assets
 Funds and investments

1,415

41,939

11.4%

 Property, plant and equipment

4,449

131,817

35.9%

 Right-of-use assets

274

8,117

2.2%

 Other non-current assets

598

17,716

4.8%

    Total non-current assets

6,736

199,589

54.3%

Total assets

12,404

367,544

100.0%

 
Liabilities
Current liabilities
 Short-term loans

324

9,612

2.6%

 Payables

1,004

29,763

8.1%

 Dividends payable

330

9,765

2.7%

 Current portion of long-term liabilities

260

7,712

2.1%

 Other current liabilities

279

8,256

2.2%

    Total current liabilities

2,197

65,108

17.7%

 
Non-current liabilities
 Bonds payable

563

16,689

4.5%

 Long-term loans

1,242

36,807

10.0%

 Lease liabilities, noncurrent

182

5,382

1.5%

 Other non-current liabilities

1,160

34,355

9.4%

    Total non-current liabilities

3,147

93,233

25.4%

    Total liabilities

5,344

158,341

43.1%

 
Equity
Equity attributable to the parent company
 Capital

4,125

122,224

33.3%

 Additional paid-in capital

1,378

40,828

11.1%

 Retained earnings, exchange differences on translation of 
    foreign operations and unrealized gains or losses on financial 
    assets measured at fair value through other comprehensive
    income

1,600

47,395

12.9%

 Treasury stock

(45)

(1,320)

(0.4%)

    Total equity attributable to the parent company

7,058

209,127

56.9%

Non-controlling interests

2

76

0.0%

    Total equity

7,060

209,203

56.9%

Total liabilities and equity

12,404

367,544

100.0%

 
 
 
 
 
 
           
Note:New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) 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, 2020 June 30, 2019 Chg. June 30, 2020 March 31, 2020 Chg.
US$ NT$ US$ NT$ % US$ NT$ US$ NT$ %
Operating revenues

1,498

44,386

1,216

36,031

23.2%

1,498

44,386

1,427

42,268

5.0%

Operating costs

(1,152)

(34,129)

(1,025)

(30,379)

12.3%

(1,152)

(34,129)

(1,153)

(34,146)

             (0.0%)

Gross profit

346

10,257

191

5,652

81.5%

346

10,257

274

8,122

26.3%

23.1%

23.1%

15.7%

15.7%

23.1%

23.1%

19.2%

19.2%

Operating expenses
  - Sales and marketing expenses

(31)

(929)

(32)

(953)

(2.6%)

(31)

(929)

(35)

(1,040)

(10.7%)

  - General and administrative expenses

(53)

(1,537)

(43)

(1,251)

23.0%

(53)

(1,537)

(53)

(1,543)

(0.3%)

  - Research and development expenses

(108)

(3,203)

(94)

(2,787)

14.9%

(108)

(3,203)

(107)

(3,185)

0.6%

  - Expected credit impairment gain (loss) 

                   (0)

(8)

(20)

(587)

(98.7%)

                   (0)

(8)

2

46

                    -

      Subtotal

(192)

(5,677)

(189)

(5,578)

1.8%

(192)

(5,677)

(193)

(5,722)

(0.8%)

Net other operating income and expenses

43

1,266

57

1,687

(25.0%)

43

1,266

34

1,014

24.9%

Operating income

197

5,846

59

1,761

232.0%

197

5,846

115

3,414

71.2%

13.2%

13.2%

4.9%

4.9%

13.2%

13.2%

8.1%

8.1%

 
Net non-operating income and expenses

28

818

(20)

(617)

                    -

28

818

(87)

(2,592)

                    -

Income from continuing operations
   before income tax

225

6,664

39

1,144

482.6%

225

6,664

28

822

710.8%

15.0%

15.0%

3.2%

3.2%

  

15.0%

15.0%

1.9%

1.9%

 
Income tax benefit (expense)

(21)

(613)

(7)

(202)

204.2%

(21)

(613)

14

408

                    -

Net income

204

6,051

32

942

542.1%

204

6,051

42

1,230

391.8%

13.6%

13.6%

2.6%

2.6%

13.6%

13.6%

2.9%

2.9%

 
Other comprehensive income (loss)

107

3,178

25

743

328.2%

107

3,178

(126)

(3,714)

                    -

 
Total comprehensive income (loss)

311

9,229

57

1,685

447.9%

311

9,229

(84)

(2,484)

                    -

 
    Net income attributable to:
  Stockholders of the parent

225

6,681

59

1,740

283.8%

225

6,681

74

2,207

202.7%

  Non-controlling interests

(21)

(630)

(27)

(798)

(21.1%)

(21)

(630)

(32)

(977)

(35.5%)

 
    Comprehensive income (loss) attributable to:
  Stockholders of the parent

333

9,859

84

2,488

296.3%

333

9,859

(55)

(1,634)

                    -

  Non-controlling interests

(22)

(630)

(27)

(803)

(21.6%)

(22)

(630)

(29)

(850)

(25.9%)

 
Earnings per share-basic

0.019

0.55

0.005

0.15

0.019

0.55

0.006

0.19

Earnings per ADS (2)

0.093

2.75

0.025

0.75

0.093

2.75

0.032

0.95

Weighted average number of shares
outstanding (in millions)   

12,193

  

11,818

  

12,193

  

11,783

 
                                       
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data
 
 
Year over Year Comparison Quarter over Quarter Comparison
Three-Month Period Ended Three-Month Period Ended
June 30, 2020 June 30, 2019 Chg. June 30, 2020 March 31, 2020 Chg.
US$ NT$ US$ NT$ % US$ NT$ US$ NT$ %
Operating revenues

1,498

44,386

1,216

36,031

23.2%

1,498

44,386

1,427

42,268

5.0%

Operating costs

(1,152)

(34,129)

(1,025)

(30,379)

12.3%

(1,152)

(34,129)

(1,153)

(34,146)

             (0.0%)

Gross profit

346

10,257

191

5,652

81.5%

346

10,257

274

8,122

26.3%

23.1%

23.1%

15.7%

15.7%

23.1%

23.1%

19.2%

19.2%

Operating expenses
  - Sales and marketing expenses

(31)

(929)

(32)

(953)

(2.6%)

(31)

(929)

(35)

(1,040)

(10.7%)

  - General and administrative expenses

(53)

(1,537)

(43)

(1,251)

23.0%

(53)

(1,537)

(53)

(1,543)

(0.3%)

  - Research and development expenses

(108)

(3,203)

(94)

(2,787)

14.9%

(108)

(3,203)

(107)

(3,185)

0.6%

  - Expected credit impairment gain (loss) 

                   (0)

(8)

(20)

(587)

(98.7%)

                   (0)

(8)

2

46

                    -

      Subtotal

(192)

(5,677)

(189)

(5,578)

1.8%

(192)

(5,677)

(193)

(5,722)

(0.8%)

Net other operating income and expenses

43

1,266

57

1,687

(25.0%)

43

1,266

34

1,014

24.9%

Operating income

197

5,846

59

1,761

232.0%

197

5,846

115

3,414

71.2%

13.2%

13.2%

4.9%

4.9%

13.2%

13.2%

8.1%

8.1%

 
Net non-operating income and expenses

28

818

(20)

(617)

                    -

28

818

(87)

(2,592)

                    -

Income from continuing operations
   before income tax

225

6,664

39

1,144

482.6%

225

6,664

28

822

710.8%

15.0%

15.0%

3.2%

3.2%

  

15.0%

15.0%

1.9%

1.9%

 
Income tax benefit (expense)

(21)

(613)

(7)

(202)

204.2%

(21)

(613)

14

408

                    -

Net income

204

6,051

32

942

542.1%

204

6,051

42

1,230

391.8%

13.6%

13.6%

2.6%

2.6%

13.6%

13.6%

2.9%

2.9%

 
Other comprehensive income (loss)

107

3,178

25

743

328.2%

107

3,178

(126)

(3,714)

                    -

 
Total comprehensive income (loss)

311

9,229

57

1,685

447.9%

311

9,229

(84)

(2,484)

                    -

 
    Net income attributable to:
  Stockholders of the parent

225

6,681

59

1,740

283.8%

225

6,681

74

2,207

202.7%

  Non-controlling interests

(21)

(630)

(27)

(798)

(21.1%)

(21)

(630)

(32)

(977)

(35.5%)

 
    Comprehensive income (loss) attributable to:
  Stockholders of the parent

333

9,859

84

2,488

296.3%

333

9,859

(55)

(1,634)

                    -

  Non-controlling interests

(22)

(630)

(27)

(803)

(21.6%)

(22)

(630)

(29)

(850)

(25.9%)

 
Earnings per share-basic

0.019

0.55

0.005

0.15

0.019

0.55

0.006

0.19

Earnings per ADS (2)

0.093

2.75

0.025

0.75

0.093

2.75

0.032

0.95

Weighted average number of shares
outstanding (in millions)   

12,193

  

11,818

  

12,193

  

11,783

 
                                       
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) 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, 2020 June 30, 2020
US$ NT$ % US$  NT$  %
Operating revenues

1,498

44,386

100.0%

2,925

86,654

100.0%

Operating costs

(1,152)

(34,129)

(76.9%)

(2,305)

(68,274)

(78.8%)

Gross profit

346

10,257

23.1%

620

18,380

21.2%

 
 
Operating expenses
  - Sales and marketing expenses

(31)

(929)

(2.1%)

(66)

(1,968)

(2.3%)

  - General and administrative expenses

(53)

(1,537)

(3.5%)

(103)

(3,083)

(3.5%)

  - Research and development expenses

(108)

(3,203)

(7.2%)

(216)

(6,388)

(7.4%)

  - Expected credit impairment gain (loss)

                   (0)

(8)

(0.0%)

1

39

0.1%

      Subtotal

(192)

(5,677)

(12.8%)

(384)

(11,400)

(13.1%)

Net other operating income and expenses

43

1,266

2.9%

77

2,280

2.6%

Operating income

197

5,846

13.2%

313

9,260

10.7%

 
Net non-operating income and expenses

28

818

1.8%

(60)

(1,774)

(2.1%)

Income from continuing operations 
   before income tax

225

6,664

15.0%

253

7,486

8.6%

 
 
Income tax expense

(21)

(613)

(1.4%)

(7)

(205)

(0.2%)

Net income

204

6,051

13.6%

246

7,281

8.4%

 
Other comprehensive income (loss)

107

3,178

7.2%

(18)

(536)

(0.6%)

 
Total comprehensive income (loss)

311

9,229

20.8%

228

6,745

7.8%

 
    Net income attributable to:
  Stockholders of the parent

225

6,681

15.1%

300

8,888

10.3%

  Non-controlling interests

(21)

(630)

(1.5%)

(54)

(1,607)

(1.9%)

 
    Comprehensive income (loss) attributable to:
  Stockholders of the parent

333

9,859

22.2%

278

8,225

9.5%

  Non-controlling interests

(22)

(630)

(1.4%)

(50)

(1,480)

(1.7%)

 
Earnings per share-basic

0.019

0.55

0.025

0.74

Earnings per ADS (2)

0.093

2.75

0.125

3.70

 
Weighted average number of shares
     outstanding (in millions)

12,193

11,988

                       
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2020 exchange rate of NT $29.63 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Six-Month Period Ended June 30, 2020
 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
US$ NT$
Cash flows from operating activities :
    Net income before tax

253

7,486

    Depreciation & Amortization

835

24,745

    Changes in working capital & others

(37)

(1,096)

Net cash provided by operating activities

1,051

31,135

 
Cash flows from investing activities :
    Acquisition of property, plant and equipment

(267)

(7,901)

    Acquisition of intangible assets

(30)

(901)

    Increase in other financial assets

(273)

(8,093)

    Others

(3)

(93)

Net cash used in investing activities

(573)

(16,988)

 
Cash flows from financing activities :
    Decrease in short-term loans

(74)

(2,202)

    Redemption of bonds

(462)

(13,703)

    Proceeds from long-term loans

405

12,000

    Repayments of long-term loans

(97)

(2,878)

    Treasury stock acquired

(41)

(1,201)

    Others

(28)

(812)

Net cash used in financing activities

(297)

(8,796)

 
Effect of exchange rate changes on cash and cash equivalents

(33)

(971)

Net increase in cash and cash equivalents

148

4,380

 
Cash and cash equivalents at beginning of period

3,223

95,492

 
Cash and cash equivalents at end of period

3,371

99,872

 

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