UMC Reports Third Quarter 2020 Results

3Q20 operating income grew 22% QoQ

Company posts 3Q20 net income of NT$9.11 billion or NT$0.75 EPS 

Third Quarter 2020 Overview1:

  • Revenue: NT$44.87 billion (US$1.54 billion)
  • Gross margin: 21.8%; Operating margin: 15.9%
  • Revenue from 28nm: 14%
  • Capacity utilization rate: 97%
  • Net income attributable to stockholders of the parent: NT$9.11 billion (US$313 million)
  • Earnings per share: NT$0.75; earnings per ADS: US$0.129

TAIPEI, Taiwan — (BUSINESS WIRE) — October 29, 2020United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) (“UMC” or “The Company”), a leading global semiconductor foundry, today announced its consolidated operating results for the third quarter of 2020.

Third quarter consolidated revenue was NT$44.87 billion, compared to NT$44.39 billion in 2Q20 and up 18.9% YoY from NT$37.74 billion in 3Q19. Consolidated gross margin for 3Q20 was 21.8%. Net income attributable to the stockholders of the parent was NT$9.11 billion, with earnings per ordinary share of NT$0.75.

Jason Wang, co-president of UMC, said, “During the third quarter, consolidated operating margin reached 15.9%, while utilization rate remained firm at 97%. Wafer shipments reached 2.25 million 8-inch equivalent wafers. During Q3, work-from-home and home schooling trends continued to contribute to stable end market demand for applications in wireless connectivity, power management ICs used in smartphones as well as high speed interface I/O controllers found in computing devices. In addition to demand stability across various end markets, our 28nm revenue grew QoQ as customer product tape outs continued throughout the quarter. Moving forward, we expect to see a sustained increase in the number of 28nm tape outs, which will further diversify our 28nm exposure to end markets and customers.”

Co-president Wang continued, “Looking into the fourth quarter, demand from consumer and computer related applications will lead to a minor increase in wafer shipments, propelled by ongoing work-from-home initiatives and home schooling. Furthermore, we have seen an uptick in semiconductor demand due to more silicon content in particular applications such as newly deployed 5G smartphones, IoT devices and other consumer products. Therefore, the current industry landscape appears to show favorable supply and demand dynamics towards foundry; hence, UMC will pursue a delicate balance in strengthening our customer relationships while securing interests for our shareholders to ensure our long term growth.”

Summary of Operating Results

Operating Results

(Amount: NT$ million)

3Q20

 

2Q20

 

QoQ %
change

3Q19

 

YoY %
change

Operating Revenues

44,870

 

44,386

 

1.1

 

37,738

 

18.9

Gross Profit

9,769

 

10,257

 

(4.8

)

6,433

 

51.9

Operating Expenses

(5,508

)

(5,677

)

(3.0

)

(5,131

)

7.4

Net Other Operating Income and Expenses

2,872

 

1,266

 

126.9

 

1,207

 

137.9

Operating Income

7,133

 

5,846

 

22.0

 

2,509

 

184.3

Net Non-Operating Income and Expenses

2,074

 

818

 

153.4

 

(532

)

-

Net Income Attributable to Stockholders of the Parent

9,106

 

6,681

 

36.3

 

2,929

 

210.9

EPS (NT$ per share)

0.75

 

0.55

 

 

0.25

 

 

(US$ per ADS)

0.129

 

0.095

 

 

0.043

 

 


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