UMC Reports Second Quarter 2019 Results

The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or 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 generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.

This release 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, 2019
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	June 30, 2019
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	2,909	90,356	24.4%
Financial assets at fair value through profit or loss, current	20	614	0.2%
Notes & Accounts receivable, net	785	24,386	6.6%
Inventories, net	632	19,629	5.3%
Other current assets	500	15,522	4.2%
Total current assets	4,846	150,507	40.7%

Non-current assets
Funds and investments	1,219	37,861	10.2%
Property, plant and equipment	5,101	158,440	42.8%
Right-of-use assets	268	8,315	2.3%
Other non-current assets	476	14,812	4.0%
Total non-current assets	7,064	219,428	59.3%
Total assets	11,910	369,935	100.0%

Liabilities
Current liabilities
Short-term loans	525	16,320	4.4%
Payables	763	23,707	6.4%
Dividends payable	223	6,916	1.9%
Current portion of long-term liabilities	744	23,105	6.3%
Other current liabilities	226	7,007	1.8%
Total current liabilities	2,481	77,055	20.8%

Non-current liabilities
Bonds payable	602	18,686	5.1%
Long-term loans	860	26,708	7.2%
Lease liabilities, noncurrent	174	5,395	1.5%
Other non-current liabilities	1,287	39,997	10.8%
Total non-current liabilities	2,923	90,786	24.6%
Total liabilities	5,404	167,841	45.4%

Equity
Equity attributable to the parent company
Capital	3,775	117,243	31.7%
Additional paid-in capital	1,263	39,240	10.6%
Retained earnings, exchange differences on translation of foreign operations, unrealized gains or losses on financial assets measured at fair value through other comprehensive income and gains or losses on hedging Instruments	1,459	45,301	12.2%
Treasury stock	(4)	(120)	(0.0%)
Total equity attributable to the parent company	6,493	201,664	54.5%
Non-controlling interests	13	430	0.1%
Total equity	6,506	202,094	54.6%
Total liabilities and equity	11,910	369,935	100.0%



Note：New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 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, 2019		June 30, 2018		Chg.	June 30, 2019		March 31, 2019		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Operating revenues	1,160	36,031	1,251	38,852	(7.3%)	1,160	36,031	1,049	32,583	10.6%
Operating costs	(978)	(30,379)	(1,036)	(32,177)	(5.6%)	(978)	(30,379)	(976)	(30,321)	0.2%
Gross profit	182	5,652	215	6,675	(15.3%)	182	5,652	73	2,262	149.9%
	15.7%	15.7%	17.2%	17.2%		15.7%	15.7%	6.9%	6.9%
Operating expenses
- Sales and marketing expenses	(31)	(953)	(36)	(1,103)	(13.6%)	(31)	(953)	(29)	(889)	7.2%
- General and administrative expenses	(39)	(1,251)	(35)	(1,083)	15.5%	(39)	(1,251)	(40)	(1,236)	1.1%
- Research and development expenses	(90)	(2,787)	(97)	(3,027)	(7.9%)	(90)	(2,787)	(90)	(2,807)	(0.7%)
- Expected credit losses	(19)	(587)	-	-	100.0%	(19)	(587)	-	-	100.0%
Subtotal	(179)	(5,578)	(168)	(5,213)	7.0%	(179)	(5,578)	(159)	(4,932)	13.1%
Net other operating income and expenses	54	1,687	55	1,719	(1.9%)	54	1,687	35	1,073	57.2%
Operating income (loss)	57	1,761	102	3,181	(44.6%)	57	1,761	(51)	(1,597)	-
	4.9%	4.9%	8.2%	8.2%		4.9%	4.9%	(4.9%)	(4.9%)

Net non-operating income and expenses	(20)	(617)	(35)	(1,095)	(43.7%)	(20)	(617)	40	1,247	-
Income (loss) from continuing operations before income tax	37	1,144	67	2,086	(45.2%)	37	1,144	(11)	(350)	-
	3.2%	3.2%	5.4%	5.4%		3.2%	3.2%	(1.1%)	(1.1%)

Income tax benefit (expense)	(7)	(202)	11	331	-	(7)	(202)	14	443	-
Net income	30	942	78	2,417	(61.0%)	30	942	3	93	917.6%
	2.6%	2.6%	6.2%	6.2%		2.6%	2.6%	0.3%	0.3%

Other comprehensive income (loss)	24	743	85	2,641	(71.9%)	24	743	116	3,614	(79.5%)

Total comprehensive income (loss)	54	1,685	163	5,058	(66.7%)	54	1,685	119	3,707	(54.6%)

Net income attributable to:
Stockholders of the parent	56	1,740	118	3,659	(52.4%)	56	1,740	39	1,201	44.9%
Non-controlling interests	(26)	(798)	(40)	(1,242)	(35.7%)	(26)	(798)	(36)	(1,108)	(28.0%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	80	2,488	203	6,297	(60.5%)	80	2,488	155	4,813	(48.3%)
Non-controlling interests	(26)	(803)	(40)	(1,239)	(35.2%)	(26)	(803)	(36)	(1,106)	(27.4%)

Earnings per share-basic	0.005	0.15	0.010	0.30		0.005	0.15	0.003	0.10
Earnings per ADS ⁽²⁾	0.024	0.75	0.048	1.50		0.024	0.75	0.016	0.50
Weighted average number of shares
outstanding (in millions)		11,818		12,049			11,818		11,909


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 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, 2019			June 30, 2019
	US$	NT$	%	US$	NT$	%
Operating revenues	1,160	36,031	100.0%	2,209	68,614	100.0%
Operating costs	(978)	(30,379)	(84.3%)	(1,954)	(60,700)	(88.5%)
Gross profit	182	5,652	15.7%	255	7,914	11.5%


Operating expenses
- Sales and marketing expenses	(31)	(953)	(2.6%)	(59)	(1,841)	(2.7%)
- General and administrative expenses	(39)	(1,251)	(3.6%)	(81)	(2,488)	(3.5%)
- Research and development expenses	(90)	(2,787)	(7.7%)	(180)	(5,594)	(8.2%)
- Expected credit losses	(19)	(587)	(1.6%)	(19)	(587)	(0.9%)
Subtotal	(179)	(5,578)	(15.5%)	(339)	(10,510)	(15.3%)
Net other operating income and expenses	54	1,687	4.7%	89	2,760	4.0%
Operating income	57	1,761	4.9%	5	164	0.2%

Net non-operating income and expenses	(20)	(617)	(1.7%)	21	630	1.0%
Income from continuing operations before income tax	37	1,144	3.2%	26	794	1.2%


Income tax benefit (expense)	(7)	(202)	(0.6%)	7	241	0.3%
Net income	30	942	2.6%	33	1,035	1.5%

Other comprehensive income (loss)	24	743	2.1%	141	4,357	6.4%

Total comprehensive income (loss)	54	1,685	4.7%	174	5,392	7.9%

Net income attributable to:
Stockholders of the parent	56	1,740	4.8%	95	2,942	4.3%
Non-controlling interests	(26)	(798)	(2.2%)	(62)	(1,907)	(2.8%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	80	2,488	6.9%	235	7,301	10.6%
Non-controlling interests	(26)	(803)	(2.2%)	(61)	(1,909)	(2.7%)

Earnings per share-basic	0.005	0.15		0.008	0.25
Earnings per ADS ⁽²⁾	0.024	0.75		0.040	1.25

Weighted average number of shares outstanding (in millions)		11,818			11,863

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 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, 2019
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	26	794
Depreciation & Amortization	791	24,565
Expected credit losses	19	587
Net gain of financial assets and liabilities at fair value through profit or loss	(24)	(758)
Changes in notes & accounts receivable	(38)	(1,184)
Changes in inventories	(44)	(1,363)
Changes in assets, liabilities and others	(72)	(2,190)
Net cash provided by operating activities	658	20,451

Cash flows from investing activities :
Acquisition of property, plant and equipment	(305)	(9,467)
Acquisition of intangible assets	(25)	(777)
Others	12	374
Net cash used in investing activities	(318)	(9,870)

Cash flows from financing activities :
Increase in short-term loans	97	3,001
Redemption of bonds	(80)	(2,500)
Proceeds from long-term loans	25	783
Repayments of long-term loans	(81)	(2,518)
Treasury stock acquired	(96)	(2,972)
Others	(3)	(82)
Net cash used in financing activities	(138)	(4,288)

Effect of exchange rate changes on cash and cash equivalents	13	406
Net increase in cash and cash equivalents	215	6,699

Cash and cash equivalents at beginning of period	2,694	83,662

Cash and cash equivalents at end of period	2,909	90,361

Reconciliation of the balances of cash and cash equivalents at end of period :
Cash and cash equivalents balances on the consolidated balance sheets	2,909	90,356
Cash and cash equivalents included in non-current assets held for sale	0	5
Cash and cash equivalents at end of period	2,909	90,361


Note: New Taiwan Dollars have been translated into U.S. Dollars at the June 30, 2019 exchange rate of NT $31.06 per U.S. Dollar.

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 Next Page »