These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) our dependence upon the frequent introduction of new services and technologies based on the latest developments in our industry; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international global business activities; (iv) our dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risks is included in UMC's filings with the U.S. Securities and Exchange Commission, including its registration statements and reports on Form F-1, F-3, F-6 and 20-F and 6-K, in each case as amended. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
The financial statements included in this release are prepared and published in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from 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 ROC GAAP and US GAAP.
This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
- FINANCIAL TABLES TO FOLLOW -
|
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||
|
Consolidated Condensed Balance Sheet | |||||||||
|
As of June 30, 2014 | |||||||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||
|
| |||||||||
|
| |||||||||
|
|
June 30, 2014 | ||||||||
|
|
US$ |
|
NT$ |
|
% | ||||
|
Assets |
|
|
|
|
| ||||
|
Current assets |
|
|
|
|
| ||||
|
Cash and cash equivalents |
1,662 |
|
49,634 |
|
16.3% | ||||
|
Financial assets at fair value through profit or loss, current |
29 |
|
880 |
|
0.3% | ||||
|
Available-for-sale financial assets, current |
91 |
|
2,729 |
|
0.9% | ||||
|
Notes & Accounts receivable, net |
724 |
|
21,616 |
|
7.1% | ||||
|
Inventories, net |
464 |
|
13,844 |
|
4.6% | ||||
|
Other current assets |
324 |
|
9,671 |
|
3.2% | ||||
|
Total current assets |
3,294 |
|
98,374 |
|
32.4% | ||||
|
|
|
|
|
|
| ||||
|
Non-current assets |
|
|
|
|
| ||||
|
Funds and investments |
1,184 |
|
35,364 |
|
11.6% | ||||
|
Property, plant and equipment |
5,258 |
|
157,002 |
|
51.7% | ||||
|
Other non-current assets |
438 |
|
13,058 |
|
4.3% | ||||
|
Total non-current assets |
6,880 |
|
205,424 |
|
67.6% | ||||
|
Total assets |
10,174 |
|
303,798 |
|
100.0% | ||||
|
|
|
|
|
|
|
| |||
|
Liabilities |
|
|
|
|
| ||||
|
Current liabilities |
|
|
|
|
| ||||
|
Short-term loans |
266 |
|
7,954 |
|
2.6% | ||||
|
Financial liabilities at fair value through profit or loss, current |
0 |
|
4 |
|
0.0% | ||||
|
Payables |
1,100 |
|
32,852 |
|
10.8% | ||||
|
Dividends payable |
4 |
|
125 |
|
0.0% | ||||
|
Current portion of long-term liabilities |
261 |
|
7,798 |
|
2.6% | ||||
|
Other current liabilities |
33 |
|
946 |
|
0.4% | ||||
|
Total current liabilities |
1,664 |
|
49,679 |
|
16.4% | ||||
|
|
|
|
|
|
| ||||
|
Non-current liabilities |
|
|
|
|
| ||||
|
Bonds payable |
836 |
|
24,976 |
|
8.2% | ||||
|
Long-term loans |
233 |
|
6,947 |
|
2.3% | ||||
|
Other non-current liabilities |
237 |
|
7,083 |
|
2.3% | ||||
|
Total non-current liabilities |
1,306 |
|
39,006 |
|
12.8% | ||||
|
Total liabilities |
2,970 |
|
88,685 |
|
29.2% | ||||
|
|
|
|
|
|
| ||||
|
Equity |
|
|
|
|
| ||||
|
Equity attributable to the parent company |
|
|
|
|
| ||||
|
Capital |
4,255 |
|
127,063 |
|
41.8% | ||||
|
Additional paid-in capital |
1,320 |
|
39,402 |
|
13.0% | ||||
|
Retained earnings, unrealized gain or loss on available-for-sale
|
1,569 |
|
46,872 |
|
15.4% | ||||
|
Treasury stock |
(79) |
|
(2,365) |
|
(0.8%) | ||||
|
Total equity attributable to the parent company |
7,065 |
|
210,972 |
|
69.4% | ||||
|
Non-controlling interests |
139 |
|
4,141 |
|
1.4% | ||||
|
Total equity |
7,204 |
|
215,113 |
|
70.8% | ||||
|
Total liabilities and equity |
10,174 |
|
303,798 |
|
100.0% | ||||
|
|
|
|
|
|
| ||||
|
Note ： New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2014 exchange rate of NT $29.86 per U.S. Dollar. |
| ||||||||
|
All figures are prepared in accordance with TIFRSs.
| |||||||||
|
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||||||||||||
|
Consolidated Condensed Statements of Comprehensive Income | |||||||||||||||||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||||||||||
|
Except Per Share and Per ADS Data | |||||||||||||||||||
|
| |||||||||||||||||||
|
| |||||||||||||||||||
|
|
Year over Year Comparison |
|
Quarter over Quarter Comparison | ||||||||||||||||
|
|
Three-Month Period Ended |
|
|
|
Three-Month Period Ended |
|
| ||||||||||||
|
|
June 30, 2014 |
|
June 30, 2013 |
|
% |
|
June 30, 2014 |
|
March 31, 2014 |
|
% | ||||||||
|
|
US$ |
|
NT$ |
|
US$ |
|
NT$ |
|
Chg. |
|
US$ |
|
NT$ |
|
US$ |
|
NT$ |
|
Chg. |
|
Net operating revenues |
1,201 |
|
35,869 |
|
1,068 |
|
31,905 |
|
12.4% |
|
1,201 |
|
35,869 |
|
1,061 |
|
31,694 |
|
13.2% |
|
Operating costs |
(926) |
|
(27,662) |
|
(861) |
|
(25,728) |
|
7.5% |
|
(926) |
|
(27,662) |
|
(863) |
|
(25,793) |
|
7.2% |
|
Gross profit |
275 |
|
8,207 |
|
207 |
|
6,177 |
|
32.9% |
|
275 |
|
8,207 |
|
198 |
|
5,901 |
|
39.1% |
|
|
22.9% |
|
22.9% |
|
19.4% |
|
19.4% |
|
|
|
22.9% |
|
22.9% |
|
18.6% |
|
18.6% |
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Sales and marketing expenses |
(37) |
|
(1,097) |
|
(27) |
|
(800) |
|
37.1% |
|
(37) |
|
(1,097) |
|
(28) |
|
(833) |
|
31.7% |
|
- General and administrative expenses |
(29) |
|
(857) |
|
(33) |
|
(966) |
|
(11.3%) |
|
(29) |
|
(857) |
|
(28) |
|
(848) |
|
1.1% |
|
- Research and development expenses |
(111) |
|
(3,326) |
|
(109) |
|
(3,251) |
|
2.3% |
|
(111) |
|
(3,326) |
|
(112) |
|
(3,335) |
|
(0.3%) |
|
Subtotal |
(177) |
|
(5,280) |
|
(169) |
|
(5,017) |
|
5.2% |
|
(177) |
|
(5,280) |
|
(168) |
|
(5,016) |
|
5.3% |
|
Net other operating income and expenses |
(0) |
|
(10) |
|
(0) |
|
(11) |
|
(9.1%) |
|
(0) |
|
(10) |
|
2 |
|
56 |
|
- |
|
Operating income |
98 |
|
2,917 |
|
38 |
|
1,149 |
|
100.0% |
|
98 |
|
2,917 |
|
32 |
|
941 |
|
100.0% |
|
|
8.1% |
|
8.1% |
|
3.6% |
|
3.6% |
|
|
|
8.1% |
|
8.1% |
|
3.0% |
|
3.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net non-operating income and expenses |
31 |
|
937 |
|
22 |
|
631 |
|
48.5% |
|
31 |
|
937 |
|
11 |
|
351 |
|
100.0% |
|
Income from continuing operations before
|
129 |
|
3,854 |
|
60 |
|
1,780 |
|
100.0% |
|
129 |
|
3,854 |
|
43 |
|
1,292 |
|
100.0% |
|
|
10.7% |
|
10.7% |
|
5.6% |
|
5.6% |
|
|
|
10.7% |
|
10.7% |
|
4.1% |
|
4.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
(18) |
|
(528) |
|
(2) |
|
(42) |
|
100.0% |
|
(18) |
|
(528) |
|
(6) |
|
(181) |
|
100.0% |
|
Net income |
111 |
|
3,326 |
|
58 |
|
1,738 |
|
91.4% |
|
111 |
|
3,326 |
|
37 |
|
1,111 |
|
100.0% |
|
|
9.3% |
|
9.3% |
|
5.4% |
|
5.4% |
|
|
|
9.3% |
|
9.3% |
|
3.5% |
|
3.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income |
4 |
|
103 |
|
12 |
|
350 |
|
(70.6%) |
|
4 |
|
103 |
|
139 |
|
4,130 |
|
(97.5%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income |
115 |
|
3,429 |
|
70 |
|
2,088 |
|
64.2% |
|
115 |
|
3,429 |
|
176 |
|
5,241 |
|
(34.6%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders of the parent |
117 |
|
3,482 |
|
61 |
|
1,812 |
|
92.2% |
|
117 |
|
3,482 |
|
40 |
|
1,180 |
|
100.0% |
|
Non-controlling interests |
(6) |
|
(156) |
|
(3) |
|
(74) |
|
100.0% |
|
(6) |
|
(156) |
|
(3) |
|
(69) |
|
100.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders of the parent |
122 |
|
3,636 |
|
72 |
|
2,160 |
|
68.3% |
|
122 |
|
3,636 |
|
176 |
|
5,261 |
|
(30.9%) |
|
Non-controlling interests |
(7) |
|
(207) |
|
(2) |
|
(72) |
|
100.0% |
|
(7) |
|
(207) |
|
(0) |
|
(20) |
|
100.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share-basic |
0.009 |
|
0.28 |
|
0.005 |
|
0.15 |
|
|
|
0.009 |
|
0.28 |
|
0.003 |
|
0.09 |
|
|
|
Earnings per ADS (2) |
0.047 |
|
1.40 |
|
0.025 |
|
0.75 |
|
|
|
0.047 |
|
1.40 |
|
0.015 |
|
0.45 |
|
|
|
Weighted average number of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
outstanding (in millions) |
|
|
12,489 |
|
|
|
12,465 |
|
|
|
|
|
12,489 |
|
|
|
12,480 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: | |||||||||||||||||||
|
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2014 exchange rate of NT $29.86 per U.S. Dollar. |
|
|
|
|
|
|
|
| |||||||||||
|
All figures are prepared in accordance with TIFRSs. | |||||||||||||||||||
|
(2) 1 ADS equals 5 common shares. |
|
|
|
|
|
| |||||||||||||
|
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||||
|
Consolidated Condensed Statements of Comprehensive Income | |||||||||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||
|
Except Per Share and Per ADS Data | |||||||||||
|
|
| ||||||||||
|
|
For the Three-Month Period Ended |
|
For the Six-Month Period Ended | ||||||||
|
|
June 30, 2014 |
|
June 30, 2014 | ||||||||
|
|
US$ |
|
NT$ |
|
% |
|
US$ |
|
NT$ |
|
% |
|
Net operating revenues |
1,201 |
|
35,869 |
|
100.0% |
|
2,263 |
|
67,563 |
|
100.0% |
|
Operating costs |
(926) |
|
(27,662) |
|
(77.1%) |
|
(1,791) |
|
(53,455) |
|
(79.1%) |
|
Gross profit |
275 |
|
8,207 |
|
22.9% |
|
472 |
|
14,108 |
|
20.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
- Sales and marketing expenses |
(37) |
|
(1,097) |
|
(3.0%) |
|
(65) |
|
(1,931) |
|
(2.9%) |
|
- General and administrative expenses |
(29) |
|
(857) |
|
(2.4%) |
|
(57) |
|
(1,705) |
|
(2.5%) |
|
- Research and development expenses |
(111) |
|
(3,326) |
|
(9.3%) |
|
(223) |
|
(6,660) |
|
(9.8%) |
|
Subtotal |
(177) |
|
(5,280) |
|
(14.7%) |
|
(345) |
|
(10,296) |
|
(15.2%) |
|
Net other operating income and expenses |
(0) |
|
(10) |
|
(0.1%) |
|
2 |
|
45 |
|
0.0% |
|
Operating income |
98 |
|
2,917 |
|
8.1% |
|
129 |
|
3,857 |
|
5.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net non-operating income and expenses |
31 |
|
937 |
|
2.6% |
|
43 |
|
1,289 |
|
1.9% |
|
Income from continuing operations before
|
129 |
|
3,854 |
|
10.7% |
|
172 |
|
5,146 |
|
7.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
(18) |
|
(528) |
|
(1.4%) |
|
(23) |
|
(709) |
|
(1.0%) |
|
Net income |
111 |
|
3,326 |
|
9.3% |
|
149 |
|
4,437 |
|
6.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income |
4 |
|
103 |
|
0.3% |
|
141 |
|
4,233 |
|
6.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income |
115 |
|
3,429 |
|
9.6% |
|
290 |
|
8,670 |
|
12.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders of the parent |
117 |
|
3,482 |
|
9.7% |
|
156 |
|
4,662 |
|
6.9% |
|
Non-controlling interests |
(6) |
|
(156) |
|
(0.4%) |
|
(7) |
|
(225) |
|
(0.3%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders of the parent |
122 |
|
3,636 |
|
10.1% |
|
298 |
|
8,897 |
|
13.2% |
|
Non-controlling interests |
(7) |
|
(207) |
|
(0.5%) |
|
(8) |
|
(227) |
|
(0.4%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share-basic |
0.009 |
|
0.28 |
|
|
|
0.012 |
|
0.37 |
|
|
|
Earnings per ADS (2) |
0.047 |
|
1.40 |
|
|
|
0.062 |
|
1.85 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares
|
|
|
12,489 |
|
|
|
|
|
12,485 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes: | |||||||||||
|
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2014 exchange rate of NT $29.86 per U.S. Dollar. | |||||||||||
|
All figures are prepared in accordance with TIFRSs. | |||||||||||
|
(2) 1 ADS equals 5 common shares. | |||||||||||
|
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||
|
Consolidated Condensed Statement of Cash Flows | ||||
|
For The Six-Month Period Ended June 30, 2014 | ||||
|
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||
|
|
|
|
| |
|
|
USD |
|
NTD | |
|
Cash flows from operating activities : |
|
|
| |
|
Net income before tax |
172 |
|
5,146 | |
|
Depreciation & Amortization |
663 |
|
19,799 | |
|
Impairment loss on financial assets |
5 |
|
163 | |
|
Gain on disposal of investments |
(39) |
|
(1,159) | |
|
Changes in notes & accounts receivable |
(165) |
|
(4,916) | |
|
Changes in other current assets |
(155) |
|
(4,642) | |
|
Changes in assets, liabilities and others |
(15) |
|
(478) | |
|
Net cash provided by operating activities |
466 |
|
13,913 | |
|
|
|
|
| |
|
Cash flows from investing activities : |
|
|
| |
|
Acquisition of available-for-sales financial assets |
(4) |
|
(115) | |
|
Proceeds from disposal of available-for-sale financial assets |
55 |
|
1,631 | |
|
Acquisition of financial assets measured at cost |
(16) |
|
(464) | |
|
Proceed from sale of financial assets measured at cost |
16 |
|
478 | |
|
Acquisition ofinvestments accounted for under the equity method |
(4) |
|
(121) | |
|
Acquisition of property, plant and equipment |
(474) |
|
(14,162) | |
|
Proceeds from disposal of property, plant and equipment |
8 |
|
252 | |
|
Acquisition of intangible assets |
(20) |
|
(603) | |
|
Others |
(1) |
|
(28) | |
|
Net cash used in investing activities |
(440) |
|
(13,132) | |
|
|
|
|
| |
|
Cash flows from financing activities : |
|
|
| |
|
Increase in short-term loans |
112 |
|
3,335 | |
|
Proceeds from bonds issued |
167 |
|
5,000 | |
|
Redemption of bonds |
(345) |
|
(10,306) | |
|
Proceeds from long-term loans |
33 |
|
1,000 | |
|
Repayments of long-term loans |
(42) |
|
(1,256) | |
|
Others |
7 |
|
199 | |
|
Net cash used in financing activities |
(68) |
|
(2,028) | |
|
|
|
|
| |
|
Effect of exchange rate changes on cash and cash equivalents |
2 |
|
50 | |
|
Net decrease in cash and cash equivalents |
(40) |
|
(1,197) | |
|
|
|
|
| |
|
Cash and cash equivalents at beginning of period |
1,702 |
|
50,831 | |
|
|
|
|
| |
|
Cash and cash equivalents at end of period |
1,662 |
|
49,634 | |
|
| ||||
|
| ||||
|
Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2014 exchange rate of NT $29.86 per U.S. Dollar. | ||||
|
All figures are prepared in accordance with TIFRSs. | ||||
Contacts:
Bowen Huang / David Wong
UMC, Investor Relations
+886-2-2658-9168, ext. 16957
Email Contact
Email Contact
SOURCE United Microelectronics Corporation
| Contact: |
| United Microelectronics Corporation
Web: http://www.umc.com/english/investors/2Q14_ASP_trend.asp |
