Robust 22nm pipeline to fuel growth in 2025,
strengthening company's foundry competitiveness
Fourth Quarter 2024
Overview1:
- Revenue: NT$60.39 billion (US$1.84 billion)
- Gross margin: 30.4%; Operating margin: 19.8%
- Revenue from 22/28nm: 34%
- Capacity utilization rate: 70%
- Net income attributable to shareholders of the parent:
NT$8.50 billion (US$259 million)
- Earnings per share: NT$0.68; earnings per ADS:
US$0.104
United Microelectronics Corporation (NYSE: UMC; TWSE:
2303) (“UMC” or “The Company”), a leading global semiconductor
foundry, today announced its consolidated operating results for the
fourth quarter of 2024.
Fourth quarter consolidated revenue was NT$60.39 billion,
decreasing 0.2% from NT$60.49 billion in 3Q24. Compared to a year
ago, 4Q24 revenue increased 9.9%. Consolidated gross margin for
4Q24 was 30.4%. Net income attributable to the shareholders of the
parent was NT$8.50 billion, with earnings per ordinary share of
NT$0.68.
Jason Wang, co-president of UMC, said, “Our fourth-quarter
results met guidance, with wafer shipments and utilization slightly
exceeding expectations. For full year 2024, revenue grew 4.4%
year-on-year, reflecting a steady improvement in demand across
communication, consumer, and computer segments. Our 22/28nm
portfolio remained the largest contributor, with revenue increasing
15% in 2024. Notably, customers are showing strong interest in
migrating to our 22nm specialty platforms for next-generation
networking and display driver applications, which offer significant
power savings and performance advantages over 28nm solutions.
Tape-outs for 22nm products are accelerating and we expect to see
higher revenue contribution from 2025 onwards.”
Co-president Wang commented, “Looking into 2025, the
semiconductor market is poised for another year of growth, driven
by strong demand for AI servers as well as increasing semiconductor
content in smartphones, PCs, and other electronic devices. To
capture opportunities in this fast-moving market, UMC continues to
invest in technology innovation, developing industry-leading
specialty solutions to ride the next wave of system upgrades and
stay ahead of the competition. Building on our technology
foundation, UMC is also actively expanding our advanced packaging
offering to help unleash the potential of AI in the coming years.
In conjunction with technology development, our key capacity
expansion projects are progressing as planned. Our new Singapore
Phase 3 fab will enhance customers’ supply chain resilience, while
the 12nm collaboration with our U.S. partner will offer customers a
migration path beyond 22nm.”
Co-president Wang added, “In the fourth quarter of 2024, we
signed a major offshore wind purchase agreement, which is UMC’s
largest renewable energy transaction to date. This agreement puts
UMC well on track to achieving our goal of 50% renewable energy use
by 2030 as part of our roadmap to net zero emissions and 100%
renewable energy by 2050. Our commitment to best practices in
sustainable development continued to be recognized by key ESG
benchmarks. In the 2024 Dow Jones Sustainability Indices (DJSI)
results announced in December, UMC is proud to achieve the top
ranking in the semiconductor industry, marking UMC’s 17th
consecutive year of being recognized as one of the most sustainable
companies globally.”
Summary of Operating Results
Operating Results
(Amount: NT$ million)
4Q24
3Q24
QoQ % change
4Q23
YoY % change
Operating Revenues
60,386
60,485
(0.2
)
54,958
9.9
Gross Profit
18,343
20,429
(10.2
)
17,806
3.0
Operating Expenses
(6,748
)
(6,559
)
2.9
(6,635
)
1.7
Net Other Operating Income and
Expenses
362
230
57.7
1,252
(71.1
)
Operating Income
11,957
14,100
(15.2
)
12,423
(3.8
)
Net Non-Operating Income and Expenses
(1,443
)
2,464
-
2,227
-
Net Income Attributable to Shareholders of
the Parent
8,497
14,472
(41.3
)
13,195
(35.6
)
EPS (NT$ per share)
0.68
1.16
1.06
(US$ per ADS)
0.104
0.177
0.162
Fourth quarter operating revenues declined 0.2% sequentially to
NT$60.39 billion. Revenue contribution from 40nm and below
technologies represented 50% of wafer revenue. Gross profit
decreased 10.2% QoQ to NT$18.34 billion, or 30.4% of revenue.
Operating expenses increased 2.9% to NT$6.75 billion. Net other
operating income increased 57.7% to NT$0.36 billion. Net
non-operating expenses totaled NT$1.44 billion. Net income
attributable to shareholders of the parent amounted to NT$8.50
billion.
Earnings per ordinary share for the quarter was NT$0.68.
Earnings per ADS was US$0.104. The basic weighted average number of
shares outstanding in 4Q24 was 12,481,192,676, compared with
12,436,436,695 shares in 3Q24 and 12,414,087,724 shares in 4Q23.
The diluted weighted average number of shares outstanding was
12,610,756,874 in 4Q24, compared with 12,559,358,115 shares in 3Q24
and 12,589,138,701 shares in 4Q23. The fully diluted shares counted
on December 31, 2024 were approximately 12,614,345,000.
Detailed Financials Section
Operating revenues decreased to NT$60.39 billion. COGS grew 5.0%
to NT$42.04 billion, which included 13.3% sequential increase in
depreciation. Gross profit decreased 10.2% QoQ to NT$18.34 billion.
Operating expenses increased to NT$6.75 billion, as R&D grew
7.8% sequentially to NT$4.33 billion or 7.2% of revenue, while
Sales & Marketing decreased 13.0% to NT$0.62 billion and
G&A also declined 1.6% QoQ to NT$1.79 billion. Net other
operating income was NT$0.36 billion. In 4Q24, operating income
declined 15.2% QoQ to NT$11.96 billion.
COGS & Expenses
(Amount: NT$ million)
4Q24
3Q24
QoQ % change
4Q23
YoY % change
Operating Revenues
60,386
60,485
(0.2
)
54,958
9.9
COGS
(42,043
)
(40,056
)
5.0
(37,152
)
13.2
Depreciation
(11,841
)
(10,449
)
13.3
(9,006
)
31.5
Other Mfg. Costs
(30,202
)
(29,607
)
2.0
(28,146
)
7.3
Gross Profit
18,343
20,429
(10.2
)
17,806
3.0
Gross Margin (%)
30.4
%
33.8
%
32.4
%
Operating Expenses
(6,748
)
(6,559
)
2.9
(6,635
)
1.7
Sales & Marketing
(623
)
(717
)
(13.0
)
(823
)
(24.3
)
G&A
(1,791
)
(1,820
)
(1.6
)
(1,930
)
(7.2
)
R&D
(4,334
)
(4,022
)
7.8
(3,945
)
9.9
Expected Credit Impairment gain (loss)
0
(0
)
-
63
(99.4
)
Net Other Operating Income &
Expenses
362
230
57.7
1,252
(71.1
)
Operating Income
11,957
14,100
(15.2
)
12,423
(3.8
)
Net non-operating expenses in 4Q24 was NT$1.44 billion,
primarily reflecting the NT$2.61 billion in net investment loss,
offset by the NT$0.88 billion in exchange gain, and the NT$0.29
billion in net interest income.
Non-Operating Income and
Expenses
(Amount: NT$ million)
4Q24
3Q24
4Q23
Non-Operating Income and Expenses
(1,443
)
2,464
2,227
Net Interest Income and Expenses
290
324
880
Net Investment Gain and Loss
(2,614
)
2,791
1,750
Exchange Gain and Loss
877
(652
)
(405
)
Other Gain and Loss
4
1
2
In 4Q24, cash inflow from operating activities was NT$32.98
billion. Cash outflow from investing activities totaled NT$16.97
billion, which included NT$18.93 billion in capital expenditure,
resulting in free cash flow of NT$14.04 billion. Cash outflow from
financing was NT$14.31 billion, primarily from NT$10.50 billion in
bank loans and NT$3.40 billion in redemption of bonds. Net cash
flow in 4Q24 amounted to NT$1.59 billion. Over the next 12 months,
the company expects to repay NT$5.53 billion in bank loans.
Cash Flow Summary
(Amount: NT$ million)
For the 3-Month Period Ended Dec.
31, 2024
For the 3-Month Period Ended Sep.
30, 2024
Cash Flow from Operating Activities
32,977
17,347
Net income before tax
10,514
16,564
Depreciation & Amortization
13,463
12,702
Share of loss (profit) of associates
and
joint ventures
1,800
(843
)
Income tax paid
(137
)
(3,755
)
Changes in working capital &
others
7,337
(7,321
)
Cash Flow from Investing Activities
(16,968
)
(23,927
)
Decrease (increase) in financial assets
measured at amortized cost
564
(1,988
)
Acquisition of PP&E
(18,275
)
(21,729
)
Acquisition of intangible assets
(877
)
(499
)
Others
1,620
289
Cash Flow from Financing Activities
(14,305
)
(12,750
)
Bank loans
(10,495
)
25,050
Redemption of bonds
(3,400
)
-
Cash dividends
-
(37,585
)
Others
(410
)
(215
)
Effect of Exchange Rate
(111
)
1,073
Net Cash Flow
1,593
(18,257
)
Beginning balance
103,407
121,234
Changes in non-current assets held for
sale
-
430
Ending balance
105,000
103,407
Cash and cash equivalents increased to NT$105.00 billion. Days
of inventory decreased 5 days to 80 days.
Current Assets
(Amount: NT$ billion)
4Q24
3Q24
4Q23
Cash and Cash Equivalents
105.00
103.41
132.55
Accounts Receivable
33.34
33.74
29.59
Days Sales Outstanding
51
50
50
Inventories, net
35.78
38.09
35.71
Days of Inventory
80
85
89
Total Current Assets
189.68
193.61
216.80
Current liabilities decreased to NT$75.26 billion. Long-term
credit/bonds decreased to NT$55.53 billion. Total liabilities
decreased to NT$192.02 billion, leading to a debt to equity ratio
of 51%.
Liabilities
(Amount: NT$ billion)
4Q24
3Q24
4Q23
Total Current Liabilities
75.26
88.27
99.02
Accounts Payable
7.63
9.01
7.53
Short-Term Credit / Bonds
19.51
30.86
29.54
Payables on Equipment
10.52
14.89
19.20
Other
37.60
33.51
42.75
Long-Term Credit / Bonds
55.53
58.13
45.24
Total Liabilities
192.02
205.80
199.61
Debt to Equity
51
%
56
%
56
%
Analysis of Revenue2
Revenue from Asia Pacific decreased to 61%, while business from
North America was 25% of sales. Business from Europe increased to
11%, while contribution from Japan was 3%.
Revenue Breakdown by
Region
Region
4Q24
3Q24
2Q24
1Q24
4Q23
North America
25
%
26
%
25
%
25
%
23
%
Asia Pacific
61
%
65
%
64
%
63
%
62
%
Europe
11
%
5
%
7
%
8
%
11
%
Japan
3
%
4
%
4
%
4
%
4
%
Revenue contribution from 22/28nm slightly decreased to 34% of
the wafer revenue, while 40nm contribution grew to 16% of
sales.
Revenue Breakdown by
Geometry
Geometry
4Q24
3Q24
2Q24
1Q24
4Q23
14nm and below
0
%
0
%
0
%
0
%
0
%
14nm<x<=28nm
34
%
35
%
33
%
33
%
36
%
28nm<x<=40nm
16
%
13
%
12
%
14
%
14
%
40nm<x<=65nm
16
%
15
%
15
%
18
%
16
%
65nm<x<=90nm
11
%
10
%
12
%
10
%
9
%
90nm<x<=0.13um
10
%
10
%
11
%
9
%
9
%
0.13um<x<=0.18um
9
%
11
%
10
%
11
%
9
%
0.18um<x<=0.35um
4
%
5
%
5
%
4
%
5
%
0.5um and above
0
%
1
%
2
%
1
%
2
%
Revenue from fabless customers accounted for 84% of revenue.
Revenue Breakdown by Customer
Type
Customer Type
4Q24
3Q23
2Q23
1Q23
4Q22
Fabless
84
%
85
%
87
%
82
%
78
%
IDM
16
%
15
%
13
%
18
%
22
%
Revenue from the communication segment accounted for 39%, while
business from computer applications remained at 13%. Business from
consumer applications was 29%, while other segments increased to
19% of revenue.
Revenue Breakdown by
Application (1)
Application
4Q24
3Q24
2Q24
1Q24
4Q23
Computer
13
%
13
%
15
%
13
%
13
%
Communication
39
%
42
%
39
%
48
%
47
%
Consumer
29
%
31
%
31
%
23
%
23
%
Others
19
%
14
%
15
%
16
%
17
%
(1) Computer consists of ICs such
as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset,
audio codec, keyboard controller, monitor scaler, USB, I/O chipset,
WLAN. Communication consists of handset components,
broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer
consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash
controller, game consoles, DSC, smart cards, toys, etc.
Blended ASP Trend
Blended average selling price (ASP) remained flat in 4Q24.
(To view blended ASP trend, please click here for 4Q24 ASP)
Shipment and Utilization Rate3
Wafer shipments increased 1.5% QoQ to 909K in the fourth
quarter, while quarterly capacity was 1,280K. Overall utilization
rate in 4Q24 slightly declined to 70%.
Wafer Shipments
4Q24
3Q24
2Q24
1Q24
4Q23
Wafer Shipments (12” K equivalents)
909
896
831
810
775
Quarterly Capacity Utilization
Rate
4Q24
3Q24
2Q24
1Q24
4Q23
Utilization Rate
70
%
71
%
68
%
65
%
66
%
Total Capacity (12” K equivalents)
1,280
1,274
1,257
1,212
1,204
Capacity4
Total capacity in the fourth quarter increased to 1,280K 12-inch
equivalent wafers. Capacity will decline in the first quarter of
2025 to 1,264K 12-inch equivalent wafers, reflecting the annual
production maintenance across 8” and 12” facilities.
Annual Capacity in thousands of
wafers
Quarterly Capacity in thousands
of wafers
FAB
Geometry (um)
2024
2023
2022
2021
FAB
1Q25E
4Q24
3Q24
2Q24
WTK
6"
5 – 0.15
331
328
335
329
WTK
6"
78
83
83
83
8A
8"
3 – 0.11
829
811
765
755
8A
8"
212
207
207
207
8C
8"
0.35 – 0.11
477
473
459
459
8C
8"
123
119
119
119
8D
8"
0.18 – 0.09
473
440
410
380
8D
8"
116
118
118
118
8E
8"
0.6 – 0.14
524
490
469
457
8E
8"
129
131
131
131
8F
8"
0.18 – 0.11
578
570
550
514
8F
8"
144
145
145
145
8S
8"
0.18 – 0.11
455
447
443
408
8S
8"
115
114
114
114
8N
8"
0.5 – 0.11
1,013
996
952
917
8N
8"
246
254
254
254
12A
12"
0.13 – 0.014
1,556
1,305
1,170
1,070
12A
12"
402
409
403
386
12i
12"
0.13 – 0.040
678
655
655
641
12i
12"
169
172
172
172
12X
12"
0.080 – 0.022
318
317
314
284
12X
12"
78
80
80
80
12M
12"
0.13 – 0.040
455
438
436
395
12M
12"
113
115
115
115
Total(1)
5,022
4,674
4,458
4,201
Total
1,264
1,280
1,274
1,257
YoY Growth Rate
7
%
5
%
6
%
3
%
(1) One 6-inch wafer is converted into 0.25 (62/122) 12-inch
equivalent wafer; one 8-inch wafer is converted into 0.44 (82/122)
12-inch equivalent wafers. Total capacity figures are expressed in
12-inch equivalent wafers.
CAPEX
CAPEX spending in 4Q24 totaled US$602 million as 2024 CAPEX
amounted to US$2.9 billion. 2025 cash-based CAPEX budget will be
US$1.8 billion.
Capital Expenditure by Year - in
US$ billion
Year
2024
2023
2022
2021
2020
CAPEX
$
2.9
$
3.0
$
2.7
$
1.8
$
1.0
2025 CAPEX Plan
8"
12"
Total
10%
90%
US$1.8 billion
Brief Summary of Full Year 2024 Consolidated Results
- Consolidated revenue in NTD increased 4.4% YoY to NT$232.30
billion, from NT$222.53 billion in 2023.
- Gross profit decreased 2.7%, compared to a year ago,
representing 32.6% of 2024 revenue.
- Operating income decreased 10.8% year-on-year, accounting for
22.2% of 2024 revenue.
- Net income attributable to shareholders of the parent decreased
22.6% to NT$47.21 billion in 2024.
- EPS was NT$3.80, or EPADS of US$0.580 for 2024.
- 22/28nm revenue contribution accounted for 34% in 2024.
Operating Results
(Amount: NT$ million)
2024
2023
YoY % change
Operating Revenues
232,303
222,533
4.4
Gross Profit
75,654
77,744
(2.7
)
Operating Expenses
(25,365
)
(23,855
)
6.3
Net Other Operating Income and
Expenses
1,324
4,002
(66.9
)
Operating Income
51,613
57,891
(10.8
)
Net Non-Operating Income and Expenses
4,607
13,021
(64.6
)
Income Tax Expense
(9,114
)
(9,472
)
(3.8
)
Net Income Attributable to Shareholders of
the Parent
47,211
60,990
(22.6
)
EPS (NT$ per share)
3.80
4.93
(US$ per ADS)
0.580
0.752
Annual Sales Breakdown in Revenue for Foundry Segment
Region
2024
2023
North America
25
%
27
%
Asia Pacific
63
%
57
%
Europe
8
%
11
%
Japan
4
%
5
%
Technology
2024
2023
14nm and below
0
%
0
%
14nm<x<=28nm
34
%
31
%
28nm<x<=40nm
14
%
14
%
40nm<x<=65nm
16
%
19
%
65nm<x<=90nm
11
%
10
%
90nm<x<=0.13um
10
%
10
%
0.13um<x<=0.18um
10
%
9
%
0.18um<x<=0.35um
4
%
5
%
0.5um and above
1
%
2
%
Customer Type
2024
2023
Fabless
84
%
78
%
IDM
16
%
22
%
Application
2024
2023
Computer
14
%
11
%
Communication
42
%
45
%
Consumer
28
%
24
%
Others
16
%
20
%
First Quarter 2025 Outlook & Guidance
Quarter-over-Quarter Guidance:
- Wafer Shipments: Will remain flat
- ASP in USD: Will decrease by mid-single digit %
- Gross Profit Margin: Will be higher than 25% with 0121
earthquake impact
- Capacity Utilization: approximately 70%
- 2025 CAPEX: US$1.8 billion
Recent Developments / Announcements
Oct. 30, 2024
UMC Ranks Top 10 in the CRIF Asia Top
1000
Dec. 10, 2024
UMC’s Collaboration with Suppliers to
Build a Sustainable Supply Chain Contributes to 2.64 Million Tons
of Carbon Reduction
Dec. 17, 2024
UMC Recognized as a Sustainability Leader
in the Dow Jones Sustainability Indices (DJSI) and MSCI ESG
Ratings
Dec. 18, 2024
UMC Signs 30-Year, 30 Billion kWh Offshore
Wind Power Agreement with CIP’s Fengmiao I Offshore Wind Farm
Jan. 14, 2025
UMC’s Flagship Fab Designated One of 189
Smart Manufacturing Lighthouses by the World Economic Forum
Please visit UMC’s website for further details
regarding the above announcements
Conference Call / Webcast Announcement
Tuesday, January 21, 2025
Time: 5:00 PM (Taipei) / 4:00 AM (New York) / 9:00 AM
(London)
Dial-in numbers and Access Codes:
Taiwan Number:
02 3396 1191
Taiwan Toll Free:
0080 119 6666
US Toll Free:
+1 866 212 5567
Other Areas:
+886 2 3396 1191
Access Code:
3026521#
A live webcast and replay of the 4Q24 results
announcement will be available at www.umc.com under the “Investors
/ Events” section.
About UMC
UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor
foundry company. The company provides high-quality IC fabrication
services, focusing on logic and various specialty technologies to
serve all major sectors of the electronics industry. UMC’s
comprehensive IC processing technologies and manufacturing
solutions include Logic/Mixed-Signal, embedded High-Voltage,
embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC’s 12-in
and 8-in fabs with its core R&D are in Taiwan, with additional
ones throughout Asia. UMC has a total of 12 fabs in production with
a combined capacity of more than 400,000 wafers per month (12-in
equivalent), and all of them are certified with IATF 16949
automotive quality standards. UMC is headquartered in Hsinchu,
Taiwan, plus local offices in the United States, Europe, China,
Japan, Korea, and Singapore, with a worldwide total of 20,000
employees. For more information, please visit:
http://www.umc.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended, and as defined in the United
States Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to,
statements regarding anticipated financial results for the fourth
quarter of 2024; the expected wafer shipment and ASP; the
anticipated annual budget; capex strategies; environmental
protection goals and water management strategies; impact of foreign
currency exchange rates; expected foundry capacities; the ability
to obtain new business opportunities; and information under the
heading “First Quarter 2025 Outlook and Guidance.”
These forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual
performance, financial condition or results of operations of UMC to
be materially different from what is stated or may be implied in
such forward-looking statements. Investors are cautioned that
actual events and results could differ materially from those
statements as a result of a number of factors including, but not
limited to: (i) dependence upon the frequent introduction of new
services and technologies based on the latest developments in the
industry in which UMC operates; (ii) the intensely competitive
semiconductor, communications, consumer electronics and computer
industries and markets; (iii) the risks associated with
international business activities; (iv) dependence upon key
personnel; (v) general economic and political conditions; (vi)
possible disruptions in commercial activities caused by natural and
human-induced events and disasters, including natural disasters,
terrorist activity, armed conflict and highly contagious diseases;
(vii) reduced end-user purchases relative to expectations and
orders; and (viii) fluctuations in foreign currency exchange rates.
Further information regarding these and other risk factors is
included in UMC’s filings with the United States Securities and
Exchange Commission, including its Annual Report on Form 20-F. All
information provided in this release is as of the date of this
release and are based on assumptions that UMC believes to be
reasonable as of this date, and UMC does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
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.
- FINANCIAL TABLES TO FOLLOW -
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet As of December 31, 2024
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars
(US$) December 31,
2024 US$ NT$ % Assets
Current assets Cash and cash equivalents
3,203
105,000
18.4
%
Accounts receivable, net
1,017
33,343
5.9
%
Inventories, net
1,092
35,782
6.3
%
Other current assets
474
15,553
2.7
%
Total current assets
5,786
189,678
33.3
%
Non-current assets Funds
and investments
2,212
72,495
12.7
%
Property, plant and equipment
8,513
279,059
48.9
%
Right-of-use assets
245
8,039
1.4
%
Other non-current assets
639
20,930
3.7
%
Total non-current assets
11,609
380,523
66.7
%
Total assets
17,395
570,201
100.0
%
Liabilities Current
liabilities Short-term loans
260
8,515
1.5
%
Payables
1,392
45,625
8.0
%
Current portion of long-term liabilities
335
10,995
1.9
%
Other current liabilities
309
10,125
1.8
%
Total current liabilities
2,296
75,260
13.2
%
Non-current liabilities
Bonds payable
750
24,585
4.3
%
Long-term loans
944
30,949
5.4
%
Lease liabilities, noncurrent
176
5,783
1.0
%
Other non-current liabilities
1,692
55,439
9.8
%
Total non-current liabilities
3,562
116,756
20.5
%
Total liabilities
5,858
192,016
33.7
%
Equity Equity
attributable to the parent company Capital
3,832
125,607
22.0
%
Additional paid-in capital
451
14,782
2.6
%
Retained earnings and other components of equity
7,246
237,539
41.7
%
Total equity attributable to the parent company
11,529
377,928
66.3
%
Non-controlling interests
8
257
0.0
%
Total equity
11,537
378,185
66.3
%
Total liabilities and equity
17,395
570,201
100.0
%
Note：New Taiwan Dollars have been translated
into U.S. Dollars at the December 31, 2024 exchange rate of NT
$32.78 per U.S. Dollar.
UNITED MICROELECTRONICS CORPORATION AND
SUBSIDIARIES Consolidated Condensed Statements of
Comprehensive Income Figures in Millions of New Taiwan Dollars
(NT$) and U.S. Dollars (US$) Except Per Share and Per ADS Data
Year over Year Comparison
Quarter over Quarter Comparison Three-Month Period
Ended Three-Month Period Ended December
31, 2024 December 31, 2023 Chg. December 31,
2024 September 30, 2024 Chg. US$ NT$
US$ NT$ % US$ NT$ US$
NT$ % Operating revenues
1,842
60,386
1,677
54,958
9.9
%
1,842
60,386
1,845
60,485
(0.2
%)
Operating costs
(1,282
)
(42,043
)
(1,134
)
(37,152
)
13.2
%
(1,282
)
(42,043
)
(1,222
)
(40,056
)
5.0
%
Gross profit
560
18,343
543
17,806
3.0
%
560
18,343
623
20,429
(10.2
%)
30.4
%
30.4
%
32.4
%
32.4
%
30.4
%
30.4
%
33.8
%
33.8
%
Operating expenses
- Sales and marketing expenses
(19
)
(623
)
(25
)
(823
)
(24.3
%)
(19
)
(623
)
(22
)
(717
)
(13.0
%)
- General and administrative expenses
(55
)
(1,791
)
(59
)
(1,930
)
(7.2
%)
(55
)
(1,791
)
(55
)
(1,820
)
(1.6
%)
- Research and development expenses
(132
)
(4,334
)
(120
)
(3,945
)
9.9
%
(132
)
(4,334
)
(123
)
(4,022
)
7.8
%
- Expected credit impairment gain (loss)
0
0
2
63
(99.4
%)
0
0
(0
)
(0
)
-
Subtotal
(206
)
(6,748
)
(202
)
(6,635
)
1.7
%
(206
)
(6,748
)
(200
)
(6,559
)
2.9
%
Net other operating income and expenses
11
362
38
1,252
(71.1
%)
11
362
7
230
57.7
%
Operating income
365
11,957
379
12,423
(3.8
%)
365
11,957
430
14,100
(15.2
%)
19.8
%
19.8
%
22.6
%
22.6
%
19.8
%
19.8
%
23.3
%
23.3
%
Net non-operating income and expenses
(44
)
(1,443
)
68
2,227
-
(44
)
(1,443
)
75
2,464
-
Income from continuing operations before income tax
321
10,514
447
14,650
(28.2
%)
321
10,514
505
16,564
(36.5
%)
17.4
%
17.4
%
26.7
%
26.7
%
17.4
%
17.4
%
27.4
%
27.4
%
Income tax expense
(63
)
(2,054
)
(45
)
(1,457
)
41.0
%
(63
)
(2,054
)
(64
)
(2,122
)
(3.2
%)
Net income
258
8,460
402
13,193
(35.9
%)
258
8,460
441
14,442
(41.4
%)
14.0
%
14.0
%
24.0
%
24.0
%
14.0
%
14.0
%
23.9
%
23.9
%
Other comprehensive income (loss)
39
1,270
(116
)
(3,808
)
-
39
1,270
(71
)
(2,299
)
-
Total comprehensive income (loss)
297
9,730
286
9,385
3.7
%
297
9,730
370
12,143
(19.9
%)
Net income attributable to:
Shareholders of
the parent
259
8,497
403
13,195
(35.6
%)
259
8,497
441
14,472
(41.3
%)
Non-controlling interests
(1
)
(37
)
(1
)
(2
)
1,752.1
%
(1
)
(37
)
(0
)
(30
)
21.8
%
Comprehensive income (loss) attributable to:
Shareholders of the parent
298
9,767
286
9,387
4.0
%
298
9,767
371
12,173
(19.8
%)
Non-controlling interests
(1
)
(37
)
(0
)
(2
)
1,712.8
%
(1
)
(37
)
(1
)
(30
)
21.9
%
Earnings per share-basic
0.021
0.68
0.032
1.06
0.021
0.68
0.035
1.16
Earnings per ADS (2)
0.104
3.40
0.162
5.30
0.104
3.40
0.177
5.80
Weighted average number of shares outstanding (in millions)
12,481
12,414
12,481
12,436
Notes:
(1) New Taiwan Dollars have been
translated into U.S. Dollars at the December 31, 2024 exchange rate
of NT $32.78 per U.S. Dollar. (2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars
(US$) Except Per Share and Per ADS Data For
the Three-Month Period Ended For the Twelve-Month Period
Ended December 31, 2024 December 31, 2024 US$
NT$ % US$ NT$ % Operating
revenues
1,842
60,386
100.0
%
7,087
232,303
100.0
%
Operating costs
(1,282
)
(42,043
)
(69.6
%)
(4,779
)
(156,649
)
(67.4
%)
Gross profit
560
18,343
30.4
%
2,308
75,654
32.6
%
Operating expenses
- Sales and marketing expenses
(19
)
(623
)
(1.0
%)
(82
)
(2,701
)
(1.2
%)
- General and administrative expenses
(55
)
(1,791
)
(3.0
%)
(218
)
(7,118
)
(3.0
%)
- Research and development expenses
(132
)
(4,334
)
(7.2
%)
(476
)
(15,616
)
(6.7
%)
- Expected credit impairment gain
0
0
0.0
%
2
70
0.0
%
Subtotal
(206
)
(6,748
)
(11.2
%)
(774
)
(25,365
)
(10.9
%)
Net other operating income and expenses
11
362
0.6
%
41
1,324
0.5
%
Operating income
365
11,957
19.8
%
1,575
51,613
22.2
%
Net non-operating income
and expenses
(44
)
(1,443
)
(2.4
%)
140
4,607
2.0
%
Income from continuing operations before income tax
321
10,514
17.4
%
1,715
56,220
24.2
%
Income tax expense
(63
)
(2,054
)
(3.4
%)
(278
)
(9,114
)
(3.9
%)
Net income
258
8,460
14.0
%
1,437
47,106
20.3
%
Other comprehensive
income (loss)
39
1,270
2.1
%
253
8,301
3.6
%
Total comprehensive
income (loss)
297
9,730
16.1
%
1,690
55,407
23.9
%
Net income attributable
to: Shareholders of the
parent
259
8,497
14.1
%
1,440
47,211
20.3
%
Non-controlling interests
(1
)
(37
)
(0.1
%)
(3
)
(105
)
(0.0
%)
Comprehensive income
(loss) attributable to:
Shareholders of the parent
298
9,767
16.2
%
1,693
55,512
23.9
%
Non-controlling interests
(1
)
(37
)
(0.1
%)
(3
)
(105
)
(0.0
%)
Earnings per share-basic
0.021
0.68
0.116
3.80
Earnings per ADS (2)
0.104
3.40
0.580
19.00
Weighted average
number of shares outstanding (in millions)
12,481
12,437
Notes:
(1) New Taiwan Dollars have been
translated into U.S. Dollars at the December 31, 2024 exchange rate
of NT $32.78 per U.S. Dollar. (2) 1 ADS equals 5 common shares.
UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows For The
Twelve-Month Period Ended December 31, 2024 Figures in Millions of
New Taiwan Dollars (NT$) and U.S. Dollars (US$)
US$ NT$
Cash flows from operating activities :
Net income before tax
1,715
56,220
Depreciation & Amortization
1,469
48,168
Share of profit of associates and joint ventures
(13
)
(411
)
Income tax paid
(304
)
(9,976
)
Changes in working capital & others
(3
)
(129
)
Net cash provided by operating activities
2,864
93,872
Cash flows from investing activities :
Acquisition of property, plant and equipment
(2,701
)
(88,544
)
Acquisition of intangible assets
(85
)
(2,799
)
Others
164
5,402
Net cash used in investing activities
(2,622
)
(85,941
)
Cash flows from financing activities :
Decrease in short-term loans
(153
)
(5,015
)
Redemption of bonds
(259
)
(8,500
)
Proceeds from long-term loans
1,107
36,286
Repayments of long-term loans
(705
)
(23,108
)
Cash dividends
(1,147
)
(37,586
)
Others
(39
)
(1,277
)
Net cash used in financing activities
(1,196
)
(39,200
)
Effect of exchange rate changes on cash and cash
equivalents
113
3,715
Net decrease in cash and cash equivalents
(841
)
(27,554
)
Cash and cash equivalents at beginning of period
4,044
132,554
Cash and cash equivalents at end of period
3,203
105,000
Note: New Taiwan Dollars have been
translated into U.S. Dollars at the December 31, 2024 exchange rate
of NT $32.78 per U.S. Dollar.
__________________________
1 Unless otherwise stated, all financial figures discussed in
this announcement are prepared in accordance with TIFRSs recognized
by Financial Supervisory Commission in the ROC, which is different
from IFRSs issued by the International Accounting Standards Board.
They represent comparisons among the three-month period ending
December 31, 2024, the three-month period ending September 30,
2024, and the equivalent three-month period that ended December 31,
2023. For all 4Q24 results, New Taiwan Dollar (NT$) amounts have
been converted into U.S. Dollars at the December 31, 2024 exchange
rate of NT$ 32.78 per U.S. Dollar. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250121293936/en/
Michael Lin / David Wong UMC, Investor Relations +
886-2-2658-9168, ext. 16900 jinhong_lin@umc.com
david_wong@umc.com
United Microelectronics (NYSE:UMC)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025
United Microelectronics (NYSE:UMC)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025
