UMC Reports First Quarter 2021 Results

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.

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

Consolidated Condensed Balance Sheet

As of March 31, 2021
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
 
March 31, 2021
US$ NT$ %
Assets
Current assets
Cash and cash equivalents

3,760

107,285

27.2%

Accounts receivable, net

1,025

29,237

7.4%

Inventories, net

779

22,225

5.6%

Other current assets

713

20,336

5.2%

Total current assets

6,277

179,083

45.4%

 
Non-current assets
Funds and investments

2,273

64,835

16.4%

Property, plant and equipment

4,431

126,430

32.1%

Right-of-use assets

267

7,609

1.9%

Other non-current assets

571

16,305

4.2%

Total non-current assets

7,542

215,179

54.6%

Total assets

13,819

394,262

100.0%

 
Liabilities
Current liabilities
Short-term loans

181

5,163

1.3%

Payables

1,137

32,428

8.2%

Current portion of long-term liabilities

1,126

32,121

8.2%

Other current liabilities

309

8,819

2.2%

Total current liabilities

2,753

78,531

19.9%

 
Non-current liabilities
Bonds payable

368

10,492

2.7%

Long-term loans

603

17,210

4.4%

Lease liabilities, noncurrent

173

4,925

1.3%

Other non-current liabilities

1,171

33,431

8.4%

Total non-current liabilities

2,315

66,058

16.8%

Total liabilities

5,068

144,589

36.7%

 
Equity
Equity attributable to the parent company
Capital

4,354

124,224

31.5%

Additional paid-in capital

1,509

43,057

10.9%

Retained earnings and other components of equity

2,889

82,416

20.9%

Treasury stock

(4)

(120)

(0.0%)

Total equity attributable to the parent company

8,748

249,577

63.3%

Non-controlling interests

3

96

0.0%

Total equity

8,751

249,673

63.3%

Total liabilities and equity

13,819

394,262

100.0%

 
 
 
 
 
 
 
Note:New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 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
March 31, 2021 March 31, 2020 Chg. March 31, 2021 December 31, 2020 Chg.
US$ NT$ US$ NT$ % US$ NT$ US$ NT$ %
Operating revenues

1,651

47,097

1,482

42,268

11.4%

1,651

47,097

1,588

45,296

4.0%

Operating costs

(1,213)

(34,603)

(1,197)

(34,146)

1.3%

(1,213)

(34,603)

(1,208)

(34,448)

0.4%

Gross profit

438

12,494

285

8,122

53.8%

438

12,494

380

10,848

15.2%

26.5%

26.5%

19.2%

19.2%

26.5%

26.5%

23.9%

23.9%

Operating expenses
- Sales and marketing expenses

(38)

(1,089)

(36)

(1,040)

4.8%

(38)

(1,089)

(41)

(1,175)

(7.2%)

- General and administrative expenses

(63)

(1,806)

(55)

(1,543)

17.0%

(63)

(1,806)

(69)

(1,966)

(8.2%)

- Research and development expenses

(107)

(3,049)

(112)

(3,185)

(4.3%)

(107)

(3,049)

(112)

(3,194)

(4.5%)

- Expected credit impairment gain

0

12

2

46

(73.1%)

0

12

0

0

5,409.7%

Subtotal

(208)

(5,932)

(201)

(5,722)

3.7%

(208)

(5,932)

(222)

(6,335)

(6.4%)

Net other operating income and expenses

37

1,060

36

1,014

4.5%

37

1,060

39

1,102

(3.8%)

Operating income

267

7,622

120

3,414

123.2%

267

7,622

197

5,615

35.7%

16.2%

16.2%

8.1%

8.1%

16.2%

16.2%

12.4%

12.4%

 
Net non-operating income and expenses

118

3,361

(91)

(2,592)

-

118

3,361

197

5,619

(40.2%)

Income from continuing operations
before income tax

385

10,983

29

822

1,236.3%

385

10,983

394

11,234

(2.2%)

23.3%

23.3%

1.9%

1.9%

23.3%

23.3%

24.8%

24.8%

 
Income tax benefit (expenses)

(38)

(1,094)

14

408

-

(38)

(1,094)

(12)

(344)

217.9%

Net income

347

9,889

43

1,230

703.8%

347

9,889

382

10,890

(9.2%)

21.0%

21.0%

2.9%

2.9%

21.0%

21.0%

24.0%

24.0%

 
Other comprehensive income (loss)

124

3,556

(130)

(3,714)

-

124

3,556

134

3,831

(7.2%)

 
Total comprehensive income (loss)

471

13,445

(87)

(2,484)

-

471

13,445

516

14,721

(8.7%)

 
Net income attributable to:
  Stockholders of the parent

366

10,428

77

2,207

372.5%

366

10,428

393

11,196

(6.9%)

  Non-controlling interests

(19)

(539)

(34)

(977)

(44.8%)

(19)

(539)

(11)

(306)

76.1%

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

490

13,984

(57)

(1,634)

-

490

13,984

527

15,027

(6.9%)

  Non-controlling interests

(19)

(539)

(30)

(850)

(36.6%)

(19)

(539)

(11)

(306)

76.1%

 
Earnings per share-basic

0.030

0.85

0.007

0.19

0.030

0.85

0.032

0.92

Earnings per ADS (2)

0.149

4.25

0.033

0.95

0.149

4.25

0.161

4.60

Weighted average number of shares
outstanding (in millions)

12,206

11,783

12,206

12,206

 
 
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 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 Three-Month Period Ended
March 31, 2021 March 31, 2021
US$ NT$ % US$ NT$ %
Operating revenues

1,651

47,097

100.0%

1,651

47,097

100.0%

Operating costs

(1,213)

(34,603)

(73.5%)

(1,213)

(34,603)

(73.5%)

Gross profit

438

12,494

26.5%

438

12,494

26.5%

 
 
Operating expenses
- Sales and marketing expenses

(38)

(1,089)

(2.3%)

(38)

(1,089)

(2.3%)

- General and administrative expenses

(63)

(1,806)

(3.8%)

(63)

(1,806)

(3.8%)

- Research and development expenses

(107)

(3,049)

(6.5%)

(107)

(3,049)

(6.5%)

- Expected credit impairment gain

0

12

0.0%

0

12

0.0%

Subtotal

(208)

(5,932)

(12.6%)

(208)

(5,932)

(12.6%)

Net other operating income and expenses

37

1,060

2.3%

37

1,060

2.3%

Operating income

267

7,622

16.2%

267

7,622

16.2%

 
Net non-operating income and expenses

118

3,361

7.1%

118

3,361

7.1%

Income from continuing operations
before income tax

385

10,983

23.3%

385

10,983

23.3%

 
 
Income tax expense

(38)

(1,094)

(2.3%)

(38)

(1,094)

(2.3%)

Net income

347

9,889

21.0%

347

9,889

21.0%

 
Other comprehensive income (loss)

124

3,556

7.6%

124

3,556

7.6%

 
Total comprehensive income (loss)

471

13,445

28.6%

471

13,445

28.6%

 
Net income attributable to:
  Stockholders of the parent

366

10,428

22.1%

366

10,428

22.1%

  Non-controlling interests

(19)

(539)

(1.1%)

(19)

(539)

(1.1%)

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

490

13,984

29.7%

490

13,984

29.7%

  Non-controlling interests

(19)

(539)

(1.1%)

(19)

(539)

(1.1%)

 
Earnings per share-basic

0.030

0.85

0.030

0.85

Earnings per ADS (2)

0.149

4.25

0.149

4.25

 
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 March 31, 2021 exchange rate of NT $28.53 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

Consolidated Condensed Statement of Cash Flows

For The Three-Month Period Ended March 31, 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

385

10,983

Depreciation & Amortization

415

11,833

Share of profit of associates and joint ventures

(62)

(1,767)

Changes in working capital & others

(97)

(2,768)

Net cash provided by operating activities

641

18,281

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

(258)

(7,352)

Acquisition of intangible assets

(22)

(619)

Others

30

851

Net cash used in investing activities

(250)

(7,120)

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

(204)

(5,815)

Proceeds from long-term loans

440

12,560

Repayments of long-term loans

(153)

(4,377)

Others

7

212

Net cash provided by financing activities

90

2,580

 
Effect of exchange rate changes on cash and cash equivalents

(17)

(504)

Net increase in cash and cash equivalents

464

13,237

 
Cash and cash equivalents at beginning of period

3,296

94,048

 
Cash and cash equivalents at end of period

3,760

107,285

 
 
 
Note: New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2021 exchange rate of NT $28.53 per U.S. Dollar.


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