UMC Reports Third Quarter 2022 Results

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of September 30, 2022
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
 

September 30, 2022

US$

NT$

%

Assets
Current assets
Cash and cash equivalents

5,692

180,649

34.8

%

Accounts receivable, net

1,413

44,842

8.6

%

Inventories, net

948

30,102

5.8

%

Other current assets

357

11,352

2.2

%

Total current assets

8,410

266,945

51.4

%

 
Non-current assets
Funds and investments

1,951

61,938

11.9

%

Property, plant and equipment

4,698

149,119

28.7

%

Right-of-use assets

249

7,903

1.5

%

Other non-current assets

1,056

33,489

6.5

%

Total non-current assets

7,954

252,449

48.6

%

Total assets

16,364

519,394

100.0

%

 
Liabilities
Current liabilities
Short-term loans

7

217

0.0

%

Payables

2,155

68,415

13.2

%

Current portion of long-term liabilities

377

11,975

2.3

%

Other current liabilities

864

27,402

5.3

%

Total current liabilities

3,403

108,009

20.8

%

 
Non-current liabilities
Bonds payable

727

23,082

4.4

%

Long-term loans

727

23,063

4.4

%

Lease liabilities, noncurrent

166

5,284

1.0

%

Other non-current liabilities

1,411

44,767

8.7

%

Total non-current liabilities

3,031

96,196

18.5

%

Total liabilities

6,434

204,205

39.3

%

 
Equity
Equity attributable to the parent company
Capital

3,933

124,821

24.0

%

Additional paid-in capital

336

10,668

2.1

%

Retained earnings and other components of equity

5,649

179,321

34.5

%

Total equity attributable to the parent company

9,918

314,810

60.6

%

Non-controlling interests

12

379

0.1

%

Total equity

9,930

315,189

60.7

%

Total liabilities and equity

16,364

519,394

100.0

%

 
Note:New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2022 exchange rate of NT $31.74 per U.S. Dollar.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) 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, 2022

September 30, 2021

Chg.

September 30, 2022

June 30, 2022

Chg.

US$

NT$

US$

NT$

%

US$

NT$

US$

NT$

%

Operating revenues

2,375

 

75,392

 

1,761

 

55,907

 

34.9

%

2,375

 

75,392

 

2,270

 

72,055

 

4.6

%

Operating costs

(1,251

)

(39,728

)

(1,114

)

(35,363

)

12.3

%

(1,251

)

(39,728

)

(1,215

)

(38,583

)

3.0

%

Gross profit

1,124

 

35,664

 

647

 

20,544

 

73.6

%

1,124

 

35,664

 

1,055

 

33,472

 

6.5

%

47.3

%

47.3

%

36.8

%

36.8

%

47.3

%

47.3

%

46.5

%

46.5

%

Operating expenses
- Sales and marketing expenses

(33

)

(1,061

)

(38

)

(1,212

)

(12.5

%)

(33

)

(1,061

)

(29

)

(915

)

15.9

%

- General and administrative expenses

(77

)

(2,428

)

(67

)

(2,119

)

14.6

%

(77

)

(2,428

)

(82

)

(2,579

)

(5.9

%)

- Research and development expenses

(104

)

(3,304

)

(104

)

(3,303

)

0.0

%

(104

)

(3,304

)

(101

)

(3,209

)

3.0

%

- Expected credit impairment loss

(0

)

(1

)

(0

)

(2

)

(68.6

%)

(0

)

(1

)

(0

)

(3

)

(75.8

%)

Subtotal

(214

)

(6,794

)

(209

)

(6,636

)

2.4

%

(214

)

(6,794

)

(212

)

(6,706

)

1.3

%

Net other operating income and expenses

40

 

1,287

 

39

 

1,227

 

4.9

%

40

 

1,287

 

44

 

1,398

 

(8.0

%)

Operating income

950

 

30,157

 

477

 

15,135

 

99.3

%

950

 

30,157

 

887

 

28,164

 

7.1

%

40.0

%

40.0

%

27.1

%

27.1

%

40.0

%

40.0

%

39.1

%

39.1

%

 
Net non-operating income and expenses

69

 

2,189

 

136

 

4,317

 

(49.3

%)

69

 

2,189

 

(81

)

(2,586

)

-

 

Income from continuing operations
   before income tax

1,019

 

32,346

 

613

 

19,452

 

66.3

%

1,019

 

32,346

 

806

 

25,578

 

26.5

%

42.9

%

42.9

%

34.8

%

34.8

%

42.9

%

42.9

%

35.5

%

35.5

%

 
Income tax expense

(158

)

(5,004

)

(66

)

(2,100

)

138.3

%

(158

)

(5,004

)

(129

)

(4,088

)

22.4

%

Net income

861

 

27,342

 

547

 

17,352

 

57.6

%

861

 

27,342

 

677

 

21,490

 

27.2

%

36.3

%

36.3

%

31.0

%

31.0

%

36.3

%

36.3

%

29.8

%

29.8

%

 
Other comprehensive income (loss)

137

 

4,336

 

(12

)

(370

)

-

 

137

 

4,336

 

(118

)

(3,749

)

-

 

 
Total comprehensive income (loss)

998

 

31,678

 

535

 

16,982

 

86.5

%

998

 

31,678

 

559

 

17,741

 

78.6

%

 
Net income attributable to:
  Shareholders of the parent

851

 

26,996

 

550

 

17,460

 

54.6

%

851

 

26,996

 

672

 

21,327

 

26.6

%

  Non-controlling interests

10

 

346

 

(3

)

(108

)

-

 

10

 

346

 

5

 

163

 

111.6

%

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

987

 

31,332

 

538

 

17,090

 

83.3

%

987

 

31,332

 

554

 

17,578

 

78.2

%

  Non-controlling interests

11

 

346

 

(3

)

(108

)

-

 

11

 

346

 

5

 

163

 

111.6

%

 
Earnings per share-basic

0.069

 

2.19

 

0.045

 

1.43

 

0.069

 

2.19

 

0.055

 

1.74

 

Earnings per ADS (2)

0.345

 

10.95

 

0.225

 

7.15

 

0.345

 

10.95

 

0.274

 

8.70

 

Weighted average number of shares
outstanding (in millions)

12,306

 

12,206

 

12,306

 

12,283

 

 
 
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2022 exchange rate of NT $31.74 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) 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, 2022

September 30, 2022

US$

NT$

%

US$

NT$

%

Operating revenues

2,375

 

75,392

 

100.0

%

6,644

 

210,870

 

100.0

%

Operating costs

(1,251

)

(39,728

)

(52.7

%)

(3,599

)

(114,230

)

(54.2

%)

Gross profit

1,124

 

35,664

 

47.3

%

3,045

 

96,640

 

45.8

%

 
 
Operating expenses
- Sales and marketing expenses

(33

)

(1,061

)

(1.4

%)

(102

)

(3,230

)

(1.5

%)

- General and administrative expenses

(77

)

(2,428

)

(3.2

%)

(228

)

(7,235

)

(3.4

%)

- Research and development expenses

(104

)

(3,304

)

(4.4

%)

(301

)

(9,547

)

(4.5

%)

- Expected credit impairment loss

(0

)

(1

)

(0.0

%)

(0

)

(2

)

(0.0

%)

Subtotal

(214

)

(6,794

)

(9.0

%)

(631

)

(20,014

)

(9.4

%)

Net other operating income and expenses

40

 

1,287

 

1.7

%

127

 

4,029

 

1.9

%

Operating income

950

 

30,157

 

40.0

%

2,541

 

80,655

 

38.3

%

 
Net non-operating income and expenses

69

 

2,189

 

2.9

%

29

 

916

 

0.4

%

Income from continuing operations
   before income tax

1,019

 

32,346

 

42.9

%

2,570

 

81,571

 

38.7

%

 
 
Income tax expense

(158

)

(5,004

)

(6.6

%)

(399

)

(12,673

)

(6.0

%)

Net income

861

 

27,342

 

36.3

%

2,171

 

68,898

 

32.7

%

 
Other comprehensive income (loss)

137

 

4,336

 

5.7

%

63

 

2,009

 

0.9

%

 
Total comprehensive income (loss)

998

 

31,678

 

42.0

%

2,234

 

70,907

 

33.6

%

 
Net income attributable to:
  Shareholders of the parent

851

 

26,996

 

35.8

%

2,147

 

68,131

 

32.3

%

  Non-controlling interests

10

 

346

 

0.5

%

24

 

767

 

0.4

%

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

987

 

31,332

 

41.6

%

2,210

 

70,139

 

33.3

%

  Non-controlling interests

11

 

346

 

0.4

%

24

 

768

 

0.3

%

 
Earnings per share-basic

0.069

 

2.19

 

0.175

 

5.54

 

Earnings per ADS (2)

0.345

 

10.95

 

0.873

 

27.70

 

 
Weighted average number of shares
   outstanding (in millions)

12,306

 

12,291

 

 
Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2022 exchange rate of NT $31.74 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Nine-Month Period Ended September 30, 2022
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
 
US$ NT$
Cash flows from operating activities :
Net income before tax

2,570

 

81,571

 

Depreciation & Amortization

1,061

 

33,692

 

Share of loss of associates and joint ventures

112

 

3,557

 

Income tax paid

(137

)

(4,333

)

Changes in working capital & others

(301

)

(9,582

)

Net cash provided by operating activities

3,305

 

104,905

 

 
Cash flows from investing activities :
Decrease in financial assets measured at amortized cost

898

 

28,488

 

Acquisition of property, plant and equipment

(1,392

)

(44,176

)

Acquisition of intangible assets

(73

)

(2,316

)

Others

(12

)

(379

)

Net cash used in investing activities

(579

)

(18,383

)

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

(55

)

(1,759

)

Redemption of bonds

(339

)

(10,763

)

Proceeds from long-term loans

22

 

710

 

Repayments of long-term loans

(367

)

(11,650

)

Increase in guarantee deposits

484

 

15,374

 

Cash distributed from additional paid-in capital

(1,180

)

(37,446

)

Others

(79

)

(2,535

)

Net cash used in financing activities

(1,514

)

(48,069

)

 
Effect of exchange rate changes on cash and cash equivalents

302

 

9,574

 

Net increase in cash and cash equivalents

1,514

 

48,027

 

 
Cash and cash equivalents at beginning of period

4,178

 

132,622

 

 
Cash and cash equivalents at end of period

5,692

 

180,649

 

 
 
 
Note: New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2022 exchange rate of NT $31.74 per U.S. Dollar.

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