UMC Reports Second 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 June 30, 2021
 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
 
June 30, 2021
US$ NT$ %
Assets
Current assets
 Cash and cash equivalents

4,451

124,000

29.4%

 Accounts receivable, net

1,081

30,113

7.2%

 Inventories, net

805

22,439

5.3%

 Other current assets

1,123

31,281

7.4%

    Total current assets

7,460

207,833

49.3%

 
Non-current assets
 Funds and investments

2,389

66,570

15.8%

 Property, plant and equipment

4,450

123,983

29.4%

 Right-of-use assets

266

7,413

1.8%

 Other non-current assets

571

15,878

3.7%

    Total non-current assets

7,676

213,844

50.7%

Total assets

15,136

421,677

100.0%

 
Liabilities
Current liabilities
 Short-term loans

193

5,386

1.3%

 Payables

1,319

36,753

8.7%

 Dividends payable

713

19,876

4.7%

 Current portion of long-term liabilities

512

14,263

3.4%

 Other current liabilities

314

8,726

2.0%

    Total current liabilities

3,051

85,004

20.1%

 
Non-current liabilities
 Bonds payable

721

20,082

4.8%

 Long-term loans

1,109

30,885

7.3%

 Lease liabilities, noncurrent

171

4,771

1.1%

 Other non-current liabilities

1,462

40,743

9.7%

    Total non-current liabilities

3,463

96,481

22.9%

        Total liabilities

6,514

181,485

43.0%

 
Equity
Equity attributable to the parent company
 Capital

4,459

124,233

29.5%

 Additional paid-in capital

1,550

43,182

10.2%

 Retained earnings and other components of equity

2,613

72,791

17.3%

 Treasury stock

(4)

(120)

(0.0%)

    Total equity attributable to the parent company

8,618

240,086

57.0%

Non-controlling interests

4

106

0.0%

    Total equity

8,622

240,192

57.0%

Total liabilities and equity

15,136

421,677

100.0%

 
 
 
 
 
 
           
Note:New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 per U.S. Dollar.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) 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, 2021 June 30, 2020 Chg. June 30, 2021 March 31, 2021 Chg.
US$ NT$ US$ NT$ % US$ NT$ US$ NT$ %
Operating revenues

1,827

50,908

1,593

44,386

14.7%

1,827

50,908

1,690

47,097

8.1%

Operating costs

(1,256)

(35,000)

(1,225)

(34,129)

2.6%

(1,256)

(35,000)

(1,242)

(34,603)

1.1%

Gross profit

571

15,908

368

10,257

55.1%

571

15,908

448

12,494

27.3%

31.3%

31.3%

23.1%

23.1%

31.3%

31.3%

26.5%

26.5%

Operating expenses
  - Sales and marketing expenses

(41)

(1,131)

(33)

(929)

21.8%

(41)

(1,131)

(39)

(1,089)

3.8%

  - General and administrative expenses

(68)

(1,901)

(56)

(1,537)

23.5%

(68)

(1,901)

(64)

(1,806)

5.2%

  - Research and development expenses

(114)

(3,168)

(115)

(3,203)

(1.1%)

(114)

(3,168)

(109)

(3,049)

3.9%

  - Expected credit impairment gain (loss)

(0)

(1)

            (0)

(8)

(81.3%)

(0)

(1)

0

12

                 -

      Subtotal

(223)

(6,201)

(204)

(5,677)

9.2%

(223)

(6,201)

(212)

(5,932)

4.5%

Net other operating income and expenses

58

1,606

46

1,266

26.9%

58

1,606

38

1,060

51.6%

Operating income

406

11,313

210

5,846

93.5%

406

11,313

274

7,622

48.4%

22.2%

22.2%

13.2%

13.2%

22.2%

22.2%

16.2%

16.2%

 
Net non-operating income and expenses

68

1,881

29

818

129.9%

68

1,881

120

3,361

(44.0%)

Income from continuing operations
   before income tax

474

13,194

239

6,664

98.0%

474

13,194

394

10,983

20.1%

25.9%

25.9%

15.0%

15.0%

  

25.9%

25.9%

23.3%

23.3%

 
Income tax expenses

(48)

(1,327)

(22)

(613)

116.6%

(48)

(1,327)

(39)

(1,094)

21.3%

Net income

426

11,867

217

6,051

96.1%

426

11,867

355

9,889

20.0%

23.3%

23.3%

13.6%

13.6%

23.3%

23.3%

21.0%

21.0%

 
Other comprehensive income (loss)

(70)

(1,935)

114

3,178

                 -

(70)

(1,935)

128

3,556

                 -

 
Total comprehensive income (loss)

356

9,932

331

9,229

7.6%

356

9,932

483

13,445

(26.1%)

 
    Net income attributable to:
  Shareholders of the parent

429

11,943

240

6,681

78.8%

429

11,943

374

10,428

14.5%

  Non-controlling interests

(3)

(76)

(23)

(630)

(87.9%)

(3)

(76)

(19)

(539)

(85.8%)

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

359

10,008

354

9,859

1.5%

359

10,008

502

13,984

(28.4%)

  Non-controlling interests

(3)

(76)

(23)

(630)

(87.9%)

(3)

(76)

(19)

(539)

(85.8%)

 
Earnings per share-basic

0.035

0.98

0.020

0.55

0.035

0.98

0.031

0.85

Earnings per ADS (2)

0.176

4.90

0.099

2.75

0.176

4.90

0.153

4.25

Weighted average number of shares
outstanding (in millions)   

12,206

  

12,193

  

12,206

  

12,206

 
                                       
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) 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, 2021 June 30, 2021
US$ NT$ % US$  NT$  %
Operating revenues

1,827

50,908

100.0%

3,518

98,005

100.0%

Operating costs

(1,256)

(35,000)

(68.7%)

(2,499)

(69,603)

(71.0%)

Gross profit

571

15,908

31.3%

1,019

28,402

29.0%

 
 
Operating expenses
  - Sales and marketing expenses

(41)

(1,131)

(2.2%)

(80)

(2,220)

(2.3%)

  - General and administrative expenses

(68)

(1,901)

(3.8%)

(132)

(3,707)

(3.8%)

  - Research and development expenses

(114)

(3,168)

(6.2%)

(223)

(6,217)

(6.3%)

  - Expected credit impairment gain (loss)

(0)

(1)

(0.0%)

0

11

0.0%

      Subtotal

(223)

(6,201)

(12.2%)

(435)

(12,133)

(12.4%)

Net other operating income and expenses

58

1,606

3.1%

96

2,666

2.7%

Operating income

406

11,313

22.2%

680

18,935

19.3%

 
Net non-operating income and expenses

68

1,881

3.7%

188

5,242

5.4%

Income from continuing operations 
   before income tax

474

13,194

25.9%

868

24,177

24.7%

 
 
Income tax expense

(48)

(1,327)

(2.6%)

(87)

(2,422)

(2.5%)

Net income

426

11,867

23.3%

781

21,755

22.2%

 
Other comprehensive income (loss)

(70)

(1,935)

(3.8%)

58

1,622

1.7%

 
Total comprehensive income (loss)

356

9,932

19.5%

839

23,377

23.9%

 
    Net income attributable to:
  Shareholders of the parent

429

11,943

23.5%

803

22,371

22.8%

  Non-controlling interests

(3)

(76)

(0.2%)

(22)

(616)

(0.6%)

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

359

10,008

19.7%

861

23,992

24.5%

  Non-controlling interests

(3)

(76)

(0.2%)

(22)

(615)

(0.6%)

 
Earnings per share-basic

0.035

0.98

0.066

1.83

Earnings per ADS (2)

0.176

4.90

0.328

9.15

 
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 June 30, 2021 exchange rate of NT $27.86 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Six-Month Period Ended June 30, 2021
 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
US$ NT$
Cash flows from operating activities :
    Net income before tax

868

24,177

    Depreciation & Amortization

844

23,504

    Share of profit of associates and joint ventures

(95)

(2,648)

    Changes in working capital & others

(131)

(3,629)

Net cash provided by operating activities

1,486

41,404

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

(570)

(15,872)

    Acquisition of intangible assets

(52)

(1,454)

    Increase in other financial assets

(391)

(10,901)

    Others

94

2,625

Net cash used in investing activities

(919)

(25,602)

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

(198)

(5,509)

    Proceeds from bonds issued

345

9,600

    Redemption of bonds

(72)

(2,000)

    Proceeds from long-term loans

500

13,943

    Repayments of long-term loans

(267)

(7,450)

    Increase in guarantee deposits

272

7,587

    Others

(12)

(353)

Net cash provided by financing activities

568

15,818

 
Effect of exchange rate changes on cash and cash equivalents

(60)

(1,668)

Net increase in cash and cash equivalents

1,075

29,952

 
Cash and cash equivalents at beginning of period

3,376

94,048

 
Cash and cash equivalents at end of period

4,451

124,000

 
 
       
Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2021 exchange rate of NT $27.86 per U.S. Dollar.

 

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