UMC Reports Second Quarter 2018 Results

- FINANCIAL TABLES TO FOLLOW -


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of June 30, 2018
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	June 30, 2018
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	2,467	75,193	19.7%
Financial assets at fair value through profit or loss, current	15	470	0.1%
Contract assets, current	5	152	0.0%
Notes & Accounts receivable, net	886	27,012	7.1%
Inventories, net	579	17,656	4.6%
Other current assets	545	16,600	4.5%
Total current assets	4,497	137,083	36.0%

Non-current assets
Funds and investments	1,225	37,334	9.8%
Property, plant and equipment	6,195	188,825	49.6%
Other non-current assets	579	17,648	4.6%
Total non-current assets	7,999	243,807	64.0%
Total assets	12,496	380,890	100.0%

Liabilities
Current liabilities
Short-term loans	381	11,620	3.0%
Financial liabilities at fair value through profit or loss, current	1	39	0.0%
Contract liabilities, current	69	2,115	0.6%
Payables	859	26,187	6.8%
Dividends payable	281	8,557	2.3%
Current portion of long-term liabilities	184	5,612	1.5%
Other current liabilities	166	5,041	1.3%
Total current liabilities	1,941	59,171	15.5%

Non-current liabilities
Bonds payable	1,270	38,699	10.2%
Long-term loans	954	29,065	7.6%
Other non-current liabilities	1,416	43,173	11.4%
Total non-current liabilities	3,640	110,937	29.2%
Total liabilities	5,581	170,108	44.7%

Equity
Equity attributable to the parent company
Capital	4,142	126,243	33.2%
Additional paid-in capital	1,344	40,968	10.8%
Retained earnings, unrealized gains or losses on financial assets measured at fair value through other comprehensive income and exchange differences on translation of foreign operations	1,667	50,809	13.3%
Treasury stock	(258)	(7,848)	(2.1%)
Total equity attributable to the parent company	6,895	210,172	55.2%
Non-controlling interests	20	610	0.1%
Total equity	6,915	210,782	55.3%
Total liabilities and equity	12,496	380,890	100.0%

Note：New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2018 exchange rate of NT $30.48 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, 2018		June 30, 2017		Chg.	June 30, 2018		March 31, 2018		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Net operating revenues	1,275	38,852	1,232	37,538	3.5%	1,275	38,852	1,230	37,497	3.6%
Operating costs	(1,056)	(32,177)	(1,011)	(30,799)	4.5%	(1,056)	(32,177)	(1,078)	(32,855)	(2.1%)
Gross profit	219	6,675	221	6,739	(0.9%)	219	6,675	152	4,642	43.8%
	17.2%	17.2%	18.0%	18.0%		17.2%	17.2%	12.4%	12.4%
Operating expenses
- Sales and marketing expenses	(36)	(1,103)	(34)	(1,049)	5.1%	(36)	(1,103)	(30)	(909)	21.3%
- General and administrative expenses	(36)	(1,083)	(34)	(1,035)	4.6%	(36)	(1,083)	(33)	(1,017)	6.5%
- Research and development expenses	(99)	(3,027)	(107)	(3,246)	(6.7%)	(99)	(3,027)	(96)	(2,924)	3.5%
Subtotal	(171)	(5,213)	(175)	(5,330)	(2.2%)	(171)	(5,213)	(159)	(4,850)	7.5%
Net other operating income and expenses	56	1,719	9	259	563.7%	56	1,719	32	977	75.9%
Operating income	104	3,181	55	1,668	90.7%	104	3,181	25	769	313.7%
	8.2%	8.2%	4.4%	4.4%		8.2%	8.2%	2.1%	2.1%

Net non-operating income and expenses	(36)	(1,095)	14	448	-	(36)	(1,095)	36	1,088	-
Income from continuing operations before income tax	68	2,086	69	2,116	(1.4%)	68	2,086	61	1,857	12.3%
	5.4%	5.4%	5.6%	5.6%		5.4%	5.4%	5.0%	5.0%

Income tax benefit (expense)	11	331	(21)	(638)	-	11	331	38	1,173	(71.8%)
Net income	79	2,417	48	1,478	63.5%	79	2,417	99	3,030	(20.2%)
	6.2%	6.2%	3.9%	3.9%		6.2%	6.2%	8.1%	8.1%

Other comprehensive income (loss)	87	2,641	46	1,396	89.2%	87	2,641	(7)	(234)	-

Total comprehensive income (loss)	166	5,058	94	2,874	76.0%	166	5,058	92	2,796	80.9%

Net income attributable to:
Stockholders of the parent	120	3,659	69	2,099	74.3%	120	3,659	112	3,400	7.6%
Non-controlling interests	(41)	(1,242)	(21)	(621)	100.0%	(41)	(1,242)	(13)	(370)	235.7%

Comprehensive income (loss) attributable to:
Stockholders of the parent	207	6,297	114	3,488	80.5%	207	6,297	104	3,158	99.4%
Non-controlling interests	(41)	(1,239)	(20)	(614)	101.8%	(41)	(1,239)	(12)	(362)	242.3%

Earnings per share-basic	0.010	0.30	0.006	0.17		0.010	0.30	0.009	0.28
Earnings per ADS ⁽²⁾	0.049	1.50	0.028	0.85		0.049	1.50	0.046	1.40

Weighted average number of shares outstanding (in millions)		12,049		12,208			12,049		12,203

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2018 exchange rate of NT $30.48 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, 2018			June 30, 2018
	US$	NT$	%	US$	NT$	%
Net operating revenues	1,275	38,852	100.0%	2,505	76,349	100.0%
Operating costs	(1,056)	(32,177)	(82.8%)	(2,134)	(65,032)	(85.2%)
Gross profit	219	6,675	17.2%	371	11,317	14.8%

Operating expenses
- Sales and marketing expenses	(36)	(1,103)	(2.8%)	(66)	(2,012)	(2.6%)
- General and administrative expenses	(36)	(1,083)	(2.8%)	(69)	(2,099)	(2.8%)
- Research and development expenses	(99)	(3,027)	(7.8%)	(195)	(5,951)	(7.8%)
Subtotal	(171)	(5,213)	(13.4%)	(330)	(10,062)	(13.2%)
Net other operating income and expenses	56	1,719	4.4%	89	2,696	3.6%
Operating income	104	3,181	8.2%	130	3,951	5.2%

Net non-operating income and expenses	(36)	(1,095)	(2.8%)	(1)	(8)	(0.0%)
Income from continuing operations before income tax	68	2,086	5.4%	129	3,943	5.2%

Income tax benefit	11	331	0.8%	50	1,503	1.9%
Net income	79	2,417	6.2%	179	5,446	7.1%

Other comprehensive income (loss)	87	2,641	6.8%	79	2,408	3.2%

Total comprehensive income (loss)	166	5,058	13.0%	258	7,854	10.3%

Net income attributable to:
Stockholders of the parent	120	3,659	9.4%	232	7,059	9.2%
Non-controlling interests	(41)	(1,242)	(3.2%)	(53)	(1,613)	(2.1%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	207	6,297	16.2%	310	9,456	12.4%
Non-controlling interests	(41)	(1,239)	(3.2%)	(52)	(1,602)	(2.1%)

Earnings per share-basic	0.010	0.30		0.019	0.58
Earnings per ADS ⁽²⁾	0.049	1.50		0.095	2.90

Weighted average number of shares outstanding (in millions)		12,049			12,125

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2018 exchange rate of NT $30.48 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, 2018
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	129	3,943
Depreciation & Amortization	875	26,662
Changes in notes & accounts receivable	(157)	(4,774)
Changes in other current assets	37	1,136
Changes in contract liabilities	(61)	(1,846)
Changes in assets, liabilities and others	(67)	(2,080)
Net cash provided by operating activities	756	23,041

Cash flows from investing activities :
Acquisition of financial assets at fair value through profit or loss	(14)	(418)
Acquisition of investments accounted for under the equity method	(28)	(840)
Acquisition of property, plant and equipment	(316)	(9,617)
Increase in refundable deposits	(30)	(920)
Others	210	6,384
Net cash used in investing activities	(178)	(5,411)

Cash flows from financing activities :
Decrease in short-term loans	(458)	(13,965)
Redemption of bonds	(246)	(7,500)
Treasury stock acquired	(103)	(3,129)
Others	3	85
Net cash used in financing activities	(804)	(24,509)

Effect of exchange rate changes on cash and cash equivalents	13	397
Net decrease in cash and cash equivalents	(213)	(6,482)

Cash and cash equivalents at beginning of period	2,680	81,675

Cash and cash equivalents at end of period	2,467	75,193


Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2018 exchange rate of NT $30.48 per U.S. Dollar.

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