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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