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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