UMC Reports First Quarter 2016 Results

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.

- FINANCIAL TABLES TO FOLLOW -


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of March 31, 2016
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


		March 31, 2016
		US$	NT$	%
	Assets
	Current assets
	Cash and cash equivalents	1,848	59,541	17.3%
	Financial assets at fair value through profit or loss, current	24	766	0.2%
	Notes & Accounts receivable, net	610	19,651	5.7%
	Inventories, net	491	15,836	4.6%
	Other current assets	190	6,125	1.7%
	Total current assets	3,163	101,919	29.5%

	Non-current assets
	Funds and investments	1,234	39,757	11.5%
	Property, plant and equipment	5,775	186,081	53.9%
	Other non-current assets	533	17,174	5.1%
	Total non-current assets	7,542	243,012	70.5%
	Total assets	10,705	344,931	100.0%

	Liabilities
	Current liabilities
	Short-term loans	230	7,398	2.1%
	Payables	898	28,924	8.4%
	Current portion of long-term liabilities	135	4,343	1.3%
	Other current liabilities	29	966	0.3%
	Total current liabilities	1,292	41,631	12.1%

	Non-current liabilities
	Bonds payable	1,295	41,722	12.1%
	Long-term loans	217	6,999	2.0%
	Other non-current liabilities	811	26,134	7.6%
	Total non-current liabilities	2,323	74,855	21.7%
	Total liabilities	3,615	116,486	33.8%

	Equity
	Equity attributable to the parent company
	Capital	3,960	127,581	37.0%
	Additional paid-in capital	1,294	41,695	12.1%
	Retained earnings, unrealized gain or loss on available-for-sale financial assets and exchange differences on translation of foreign operations	1,894	61,020	17.6%
	Treasury stock	(119)	(3,826)	(1.1%)
	Total equity attributable to the parent company	7,029	226,470	65.6%
	Non-controlling interests	61	1,975	0.6%
	Total equity	7,090	228,445	66.2%
	Total liabilities and equity	10,705	344,931	100.0%


Note：New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2016 exchange rate of NT $32.22 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
	March 31, 2016		March 31, 2015		Chg.	March 31, 2016		December 31, 2015		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Net operating revenues	1,068	34,404	1,169	37,650	(8.6%)	1,068	34,404	1,051	33,849	1.6%
Operating costs	(912)	(29,370)	(885)	(28,495)	3.1%	(912)	(29,370)	(834)	(26,870)	9.3%
Gross profit	156	5,034	284	9,155	(45.0%)	156	5,034	217	6,979	(27.9%)
	14.6%	14.6%	24.3%	24.3%		14.6%	14.6%	20.6%	20.6%
Operating expenses
- Sales and marketing expenses	(31)	(1,010)	(32)	(1,045)	(3.3%)	(31)	(1,010)	(33)	(1,044)	(3.3%)
- General and administrative expenses	(30)	(970)	(30)	(953)	1.8%	(30)	(970)	(29)	(916)	5.9%
- Research and development expenses	(96)	(3,085)	(91)	(2,916)	5.8%	(96)	(3,085)	(96)	(3,105)	(0.6%)
Subtotal	(157)	(5,065)	(153)	(4,914)	3.1%	(157)	(5,065)	(158)	(5,065)	0.0%
Net other operating income and expenses	1	15	(4)	(142)	-	1	15	(1)	(34)	-
Operating income (loss)	(0)	(16)	127	4,099	-	(0)	(16)	58	1,880	-
	(0.1%)	(0.1%)	10.9%	10.9%		(0.1%)	(0.1%)	5.6%	5.6%

Net non-operating income and expenses	1	46	8	255	(82.0%)	1	46	28	906	(94.9%)
Income from continuing operations before income tax	1	30	135	4,354	(99.3%)	1	30	86	2,786	(98.9%)
	0.1%	0.1%	11.6%	11.6%		0.1%	0.1%	8.2%	8.2%

Income tax benefit (expense)	1	49	(14)	(442)	-	1	49	9	285	(82.8%)
Net income	2	79	121	3,912	(98.0%)	2	79	95	3,071	(97.4%)
	0.2%	0.2%	10.4%	10.4%		0.2%	0.2%	9.1%	9.1%

Other comprehensive income (loss)	(18)	(583)	(3)	(107)	100.0%	(18)	(583)	55	1,776	-

Total comprehensive income (loss)	(16)	(504)	118	3,805	-	(16)	(504)	150	4,847	-

Net income attributable to:
Stockholders of the parent	7	210	124	3,980	(94.7%)	7	210	98	3,160	(93.4%)
Non-controlling interests	(5)	(131)	(3)	(68)	92.6%	(5)	(131)	(3)	(89)	47.2%

Comprehensive income (loss) attributable to:
Stockholders of the parent	(11)	(356)	121	3,910	-	(11)	(356)	154	4,961	-
Non-controlling interests	(5)	(148)	(3)	(105)	41.0%	(5)	(148)	(4)	(114)	29.8%

Earnings per share-basic	0.001	0.02	0.010	0.32		0.001	0.02	0.008	0.25
Earnings per ADS ⁽²⁾	0.003	0.10	0.050	1.60		0.003	0.10	0.039	1.25
Weighted average number of shares
outstanding (in millions)		12,408		12,526			12,408		12,408

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2016 exchange rate of NT $32.22 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 Three-Month Period Ended
	March 31, 2016			March 31, 2016
	US$	NT$	%	US$	NT$	%
Net operating revenues	1,068	34,404	100.0%	1,068	34,404	100.0%
Operating costs	(912)	(29,370)	(85.4%)	(912)	(29,370)	(85.4%)
Gross profit	156	5,034	14.6%	156	5,034	14.6%


Operating expenses
- Sales and marketing expenses	(31)	(1,010)	(2.9%)	(31)	(1,010)	(2.9%)
- General and administrative expenses	(30)	(970)	(2.8%)	(30)	(970)	(2.8%)
- Research and development expenses	(96)	(3,085)	(9.0%)	(96)	(3,085)	(9.0%)
Subtotal	(157)	(5,065)	(14.7%)	(157)	(5,065)	(14.7%)
Net other operating income and expenses	1	15	0.0%	1	15	0.0%
Operating Loss	(0)	(16)	(0.1%)	(0)	(16)	(0.1%)

Net non-operating income and expenses	1	46	0.2%	1	46	0.2%
Income from continuing operations before income tax	1	30	0.1%	1	30	0.1%


Income tax benefit	1	49	0.1%	1	49	0.1%
Net income	2	79	0.2%	2	79	0.2%

Other comprehensive income (loss)	(18)	(583)	(1.7%)	(18)	(583)	(1.7%)

Total comprehensive income (loss)	(16)	(504)	(1.5%)	(16)	(504)	(1.5%)

Net income attributable to:
Stockholders of the parent	7	210	0.6%	7	210	0.6%
Non-controlling interests	(5)	(131)	(0.4%)	(5)	(131)	(0.4%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	(11)	(356)	(1.0%)	(11)	(356)	(1.0%)
Non-controlling interests	(5)	(148)	(0.5%)	(5)	(148)	(0.5%)

Earnings per share-basic	0.001	0.02		0.001	0.02
Earnings per ADS ⁽²⁾	0.003	0.10		0.003	0.10

Weighted average number of shares outstanding (in millions)		12,408			12,408

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2016 exchange rate of NT $32.22 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Three-Month Period Ended March 31, 2016
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	USD	NTD
Cash flows from operating activities :
Net income before tax	1	30
Depreciation & Amortization	393	12,665
Gain on disposal of investments	(7)	(223)
Share of loss of associates and joint ventures	3	100
Impairment loss on financial assets	3	90
Changes in notes & accounts receivable	(13)	(409)
Changes in inventory	54	1,740
Changes in prepayments	(43)	(1,375)
Changes in other current assets	(22)	(703)
Changes in assets, liabilities and others	(14)	(466)
Net cash provided by operating activities	355	11,449

Cash flows from investing activities :
Acquisition of financial assets at fair value through profit or loss	(6)	(193)
Proceeds from disposal of financial assets at fair value through profit or loss	5	168
Proceeds from disposal of available-for-sale financial assets	20	642
Proceeds from disposal of financial assets measured at cost	16	519
Acquisition of property, plant and equipment	(636)	(20,487)
Decrease in refundable deposits	14	459
Acquisition of intangible assets	(14)	(452)
Others	2	41
Net cash used in investing activities	(599)	(19,303)

Cash flows from financing activities :
Increase in short-term loans	64	2,058
Proceeds from long-term loans	62	2,000
Repayments of long-term loans	(98)	(3,148)
Increase in other financial liabilities	423	13,634
Others	(0)	(6)
Net cash provided by financing activities	451	14,538

Effect of exchange rate changes on cash and cash equivalents	(13)	(433)
Net increase in cash and cash equivalents	194	6,251

Cash and cash equivalents at beginning of period	1,654	53,290

Cash and cash equivalents at end of period	1,848	59,541


Note: New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2016 exchange rate of NT $32.22 per U.S. Dollar.

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