UMC Reports Third Quarter 2023 Results

- FINANCIAL TABLES TO FOLLOW -

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of September 30, 2023
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	September 30, 2023
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	4,360	140,642	25.7%
Notes & Accounts receivable, net	964	31,105	5.7%
Inventories, net	1,133	36,561	6.7%
Other current assets	340	10,972	2.0%
Total current assets	6,797	219,280	40.1%

Non-current assets
Funds and investments	2,197	70,890	13.0%
Property, plant and equipment	6,583	212,367	38.8%
Right-of-use assets	226	7,279	1.3%
Other non-current assets	1,161	37,455	6.8%
Total non-current assets	10,167	327,991	59.9%
Total assets	16,964	547,271	100.0%

Liabilities
Current liabilities
Short-term loans	545	17,590	3.2%
Payables	1,646	53,108	9.7%
Current portion of long-term liabilities	387	12,484	2.3%
Other current liabilities	276	8,888	1.6%
Total current liabilities	2,854	92,070	16.8%

Non-current liabilities
Bonds payable	867	27,977	5.1%
Long-term loans	663	21,403	3.9%
Lease liabilities, noncurrent	155	5,009	0.9%
Other non-current liabilities	1,575	50,796	9.3%
Total non-current liabilities	3,260	105,185	19.2%
Total liabilities	6,114	197,255	36.0%

Equity
Equity attributable to the parent company
Capital	3,876	125,031	22.9%
Additional paid-in capital	416	13,423	2.4%
Retained earnings and other components of equity	6,547	211,223	38.6%
Total equity attributable to the parent company	10,839	349,677	63.9%
Non-controlling interests	11	339	0.1%
Total equity	10,850	350,016	64.0%
Total liabilities and equity	16,964	547,271	100.0%


Note: New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2023 exchange rate of NT $32.26 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, 2023		September 30, 2022		Chg.	September 30, 2023		June 30, 2023		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	1,769	57,069	2,337	75,392	(24.3%)	1,769	57,069	1,745	56,296	1.4%
Operating costs	(1,135)	(36,608)	(1,231)	(39,728)	(7.9%)	(1,135)	(36,608)	(1,117)	(36,044)	1.6%
Gross profit	634	20,461	1,106	35,664	(42.6%)	634	20,461	628	20,252	1.0%
	35.9%	35.9%	47.3%	47.3%		35.9%	35.9%	36.0%	36.0%
Operating expenses
- Sales and marketing expenses	(23)	(735)	(33)	(1,061)	(30.7%)	(23)	(735)	(22)	(716)	2.7%
- General and administrative expenses	(53)	(1,731)	(76)	(2,428)	(28.8%)	(53)	(1,731)	(53)	(1,715)	0.9%
- Research and development expenses	(101)	(3,255)	(102)	(3,304)	(1.5%)	(101)	(3,255)	(103)	(3,317)	(1.9%)
- Expected credit impairment gain (loss)	(0)	(1)	(0)	(1)	129.2%	(0)	(1)	1	30	-
Subtotal	(177)	(5,722)	(211)	(6,794)	(15.8%)	(177)	(5,722)	(177)	(5,718)	0.1%
Net other operating income and expenses	18	573	40	1,287	(55.5%)	18	573	35	1,141	(49.8%)
Operating income	475	15,312	935	30,157	(49.2%)	475	15,312	486	15,675	(2.3%)
	26.8%	26.8%	40.0%	40.0%		26.8%	26.8%	27.8%	27.8%

Net non-operating income and expenses	103	3,336	68	2,189	52.5%	103	3,336	87	2,810	18.7%
Income from continuing operations
before income tax	578	18,648	1,003	32,346	(42.3%)	578	18,648	573	18,485	0.9%
	32.7%	32.7%	42.9%	42.9%		32.7%	32.7%	32.8%	32.8%

Income tax expense	(83)	(2,682)	(155)	(5,004)	(46.4%)	(83)	(2,682)	(80)	(2,588)	3.6%
Net income	495	15,966	848	27,342	(41.6%)	495	15,966	493	15,897	0.4%
	28.0%	28.0%	36.3%	36.3%		28.0%	28.0%	28.2%	28.2%

Other comprehensive income (loss)	221	7,138	134	4,336	64.6%	221	7,138	(8)	(238)	-

Total comprehensive income (loss)	716	23,104	982	31,678	(27.1%)	716	23,104	485	15,659	47.5%

Net income attributable to:
Shareholders of the parent	495	15,971	837	26,996	(40.8%)	495	15,971	485	15,641	2.1%
Non-controlling interests	(0)	(5)	11	346	-	(0)	(5)	8	256	-

Comprehensive income (loss) attributable to:
Shareholders of the parent	716	23,109	971	31,332	(26.2%)	716	23,109	477	15,403	50.0%
Non-controlling interests	(0)	(5)	11	346	-	(0)	(5)	8	256	-

Earnings per share-basic	0.040	1.29	0.068	2.19		0.040	1.29	0.039	1.27
Earnings per ADS ⁽²⁾	0.200	6.45	0.339	10.95		0.200	6.45	0.197	6.35
Weighted average number of shares
outstanding (in millions)		12,371		12,306			12,371		12,349

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2023 exchange rate of NT $32.26 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
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, 2023			September 30, 2023
	US$	NT$	%	US$	NT$	%
Operating revenues	1,769	57,069	100.0%	5,195	167,575	100.0%
Operating costs	(1,135)	(36,608)	(64.1%)	(3,337)	(107,637)	(64.2%)
Gross profit	634	20,461	35.9%	1,858	59,938	35.8%


Operating expenses
- Sales and marketing expenses	(23)	(735)	(1.3%)	(74)	(2,402)	(1.4%)
- General and administrative expenses	(53)	(1,731)	(3.1%)	(173)	(5,547)	(3.3%)
- Research and development expenses	(101)	(3,255)	(5.7%)	(289)	(9,339)	(5.6%)
- Expected credit impairment gain (loss)	(0)	(1)	(0.0%)	2	67	0.0%
Subtotal	(177)	(5,722)	(10.1%)	(534)	(17,221)	(10.3%)
Net other operating income and expenses	18	573	1.0%	85	2,750	1.6%
Operating income	475	15,312	26.8%	1,409	45,467	27.1%

Net non-operating income and expenses	103	3,336	5.9%	335	10,795	6.5%
Income from continuing operations	578	18,648	32.7%	1,744	56,262	33.6%
before income tax

Income tax expense	(83)	(2,682)	(4.7%)	(248)	(8,015)	(4.8%)
Net income	495	15,966	28.0%	1,496	48,247	28.8%

Other comprehensive income (loss)	221	7,138	12.5%	317	10,225	6.1%

Total comprehensive income (loss)	716	23,104	40.5%	1,813	58,472	34.9%

Net income attributable to:
Shareholders of the parent	495	15,971	28.0%	1,482	47,795	28.5%
Non-controlling interests	(0)	(5)	(0.0%)	14	452	0.3%

Comprehensive income (loss) attributable to:
Shareholders of the parent	716	23,109	40.5%	1,799	58,020	34.6%
Non-controlling interests	(0)	(5)	(0.0%)	14	452	0.3%

Earnings per share-basic	0.040	1.29		0.120	3.87
Earnings per ADS ⁽²⁾	0.200	6.45		0.600	19.35

Weighted average number of shares
outstanding (in millions)		12,371			12,356

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2023 exchange rate of NT $32.26 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, 2023
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	1,744	56,262
Depreciation & Amortization	923	29,763
Share of profit of associates and joint ventures	(155)	(4,996)
Income tax paid	(496)	(15,997)
Changes in working capital & others	(163)	(5,249)
Net cash provided by operating activities	1,853	59,783

Cash flows from investing activities :
Acquisition of property, plant and equipment	(2,205)	(71,140)
Acquisition of intangible assets	(55)	(1,772)
Others	60	1,939
Net cash used in investing activities	(2,200)	(70,973)

Cash flows from financing activities :
Increase in short-term loans	545	17,590
Proceeds from bonds issued	310	10,000
Proceeds from long-term loans	477	15,382
Repayments of long-term loans	(346)	(11,149)
Increase in guarantee deposits	301	9,703
Decrease in other financial liabilities	(657)	(21,209)
Cash dividends	(1,395)	(45,018)
Others	(16)	(493)
Net cash used in financing activities	(781)	(25,194)

Effect of exchange rate changes on cash and cash equivalents	100	3,207
Net decrease in cash and cash equivalents	(1,028)	(33,177)

Cash and cash equivalents at beginning of period	5,388	173,819

Cash and cash equivalents at end of period	4,360	140,642



Note: New Taiwan Dollars have been translated into U.S. Dollars at the September 30, 2023 exchange rate of NT $32.26 per U.S. Dollar.

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