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UMC(UMC) - 2021 Q3 - Earnings Call Transcript
2021-10-27 14:05
Financial Data and Key Metrics Changes - In Q3 2021, consolidated revenue was NT$ 55.91 billion with a gross margin of 36.8% and net income attributable to shareholders of NT$ 17.46 billion, resulting in an earnings per share (EPS) of NT$ 1.43 [7][8] - Revenue grew by 9.8% quarter-over-quarter, while gross margin increased to 36.8% from the previous quarter [7][8] - For the first three quarters of 2021, revenue increased by 17% to NT$ 153.9 billion, driven by higher wafer shipments and improved average selling prices (ASP) [8][9] Business Line Data and Key Metrics Changes - Overall wafer shipments grew by 2.6% quarter-over-quarter to 2.5 million 8-inch equivalent wafers [12] - Revenue from 28-nanometer technologies continued to rise, with 28-nanometer contributing significantly to revenue growth [12][14] - The company reported that communication accounted for approximately 46% of total revenue, while consumer and computer segments contributed 27% and 17%, respectively [10] Market Data and Key Metrics Changes - Asia represented about 55% of total revenue, with Japan, Europe, and the U.S. remaining relatively stable compared to the previous quarter [9][10] - The company noted that it is operating at nearly full capacity across its facilities, indicating strong demand across all markets [10][12] Company Strategy and Development Direction - The company aims to strengthen customer relationships and enhance technology competitiveness, focusing on expanding its logic and specialty technology portfolio [14] - UMC is committed to achieving net-zero carbon emissions by 2050 and is actively working with suppliers to build a low-carbon supply chain [15] - The company plans to maintain a disciplined capital expenditure approach, with a budget of US$ 2.3 billion for 2021, primarily for capacity expansion [11][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued robust demand for chips across computing, consumer, and communication segments, with expectations for wafer shipments and ASP trends to remain firm [12][14] - The company anticipates that gross margins will continue to exhibit upward momentum due to optimized capacity and product mix [13][14] - Management acknowledged some mild corrections in specific market segments but emphasized that overall demand remains strong [48] Other Important Information - The company received the Green Chemistry Application and Innovation Award from Taiwan's Environmental Protection Agency, recognizing its efforts in environmental sustainability [14] - UMC's current cash on hand is approximately NT$ 113 billion after cash dividend payouts, with total equity around NT$ 257 billion [9] Q&A Session Summary Question: Capacity expansion timing for Phase 5 and Phase 6 - Phase 5, 10K expansion for 28-nanometer will be online in Q2 2022, while Phase 6 will come online later in 2023 [18] Question: Sustainability of operating above 100% capacity - The company expects to maintain productivity improvements and operate at above 100% capacity if demand persists [20][21] Question: Pricing outlook for 2022 - ASP momentum is expected to continue into 2022, with a focus on long-term partnerships rather than short-term profits [26] Question: Gross margin expectations - Management anticipates continued gross margin expansion, with a balance between profit and long-term growth [30][32] Question: Demand trends and inventory levels - Despite some mild corrections in specific segments, overall demand remains strong, and inventory levels are not a significant concern [48] Question: Legal issues and provisions - The company cannot comment on ongoing litigation but is monitoring the situation closely [56] Question: Competitive positioning against peers - UMC is confident in its ability to outpace foundry industry growth, driven by structural demand from 5G, IoT, and other megatrends [58][59]
UMC(UMC) - 2021 Q2 - Earnings Call Transcript
2021-07-28 18:37
United Microelectronics Corporation (NYSE:UMC) Q2 2021 Results Conference Call July 28, 2021 5:00 AM ET Company Participants Michael Lin - Head, IR Jason Wang - President Chi-Tung Liu - CFO Conference Call Participants Randy Abrams - Credit Suisse Charlie Chan - Morgan Stanley Roland Shu - Citigroup Szeho Ng - China Renaissance Nicolas Baratte - Macquarie Gokul Hariharan - JP Morgan Bruce Lu - Goldman Sachs Operator Welcome, everyone, to UMC’s 2021 Second Quarter Earnings Conference Call. [Operator Instruct ...
UMC(UMC) - 2021 Q1 - Earnings Call Transcript
2021-04-28 20:13
United Microelectronics Corporation (NYSE:UMC) Q1 2021 Earnings Conference Call April 28, 2021 5:00 AM ET Company Participants Michael Lin - Head, Investor Relations Chi-Tung Liu - Chief Financial Officer Jason Wang - President Conference Call Participants Randy Abrams - Credit Suisse Bruce Lu - Goldman Sachs Gokul Hariharan - JPMorgan Roland Shu - Citigroup Szeho Ng - China Renaissance Charlie Chan - Morgan Stanley Sunny Lin - UBS Operator Welcome, everyone, to UMC's 2021 First Quarter Earnings Conference ...
UMC(UMC) - 2020 Q4 - Annual Report
2021-04-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...
UMC(UMC) - 2020 Q4 - Earnings Call Transcript
2021-01-27 16:44
United Microelectronics Corporation (NYSE:UMC) Q4 2020 Earnings Conference Call January 27, 2021 4:00 AM ET Company Participants Michael Lin - Head of Investor Relations Chi-Tung Liu - Chief Financial Officer Jason Wang - President Conference Call Participants Randy Abrams - Credit Suisse Sunny Lin - UBS Roland Shu - Citigroup Bruce Lu - Goldman Sachs Szeho Ng - China Renaissance Sebastian Hou - CLSA Rick Hsu - Daiwa Securities Charlie Chan - Morgan Stanley Operator Welcome everyone to UMC's 2020 Fourth Qua ...
UMC(UMC) - 2020 Q4 - Earnings Call Presentation
2021-01-27 16:33
Financial Performance (Q4 2020) - Operating Revenues reached NT$45,296 million [8], a 0.9% increase QoQ [11]. - Net Income Attributable to Stockholders of the Parent was NT$11,196 million [8], with EPS (NTD) at 0.92 [8]. - Gross Profit was NT$10,848 million [11], representing 23.9% of Operating Revenues [11]. - Operating Income was NT$5,615 million [11], which is 12.4% of Operating Revenues [11]. Financial Performance (Year 2020) - Operating Revenues reached NT$176,821 million [14], a 19.3% increase YoY [14]. - Net Income Attributable to Stockholders of the Parent was NT$29,189 million [14], with EPS (NTD) at 2.42 [13]. - Gross Profit was NT$38,997 million [14], representing 22.1% of Operating Revenues [14]. - Operating Income was NT$22,007 million [14], which is 12.5% of Operating Revenues [14]. Balance Sheet (Dec 31, 2020) - Cash and Cash Equivalents stood at NT$94,048 million [9, 15]. - Total Assets amounted to NT$377,516 million [9, 15]. - Total Equity was NT$235,773 million [9, 15]. Foundry Segment - Wafer Shipments were 2,293 thousand (8" wafer eq) [7]. - The foundry's capacity utilization rate was 99% [8]. - In 2020, Asia accounted for 57% of Foundry Segment Sales, while North America contributed 30% [22]. Capital Expenditure - The company plans a capital expenditure of $1.5 billion USD for its foundry business in 2021 [37]. - 85% of the capital expenditure will be allocated to 12" production [37].
UMC(UMC) - 2020 Q3 - Earnings Call Transcript
2020-10-30 15:18
United Microelectronics Corporation (NYSE:UMC) Q3 2020 Earnings Conference Call October 29, 2020 5:00 AM ET CompanyParticipants Michael Lin - IR Chitung Liu - CFO Jason Wang - President Conference Call Participants Randy Abrams - Credit Suisse Gokul Hariharan - J.P. Morgan Bruce Lu - Goldman Sachs Szeho Ng - China Renaissance Charlie Chan - Morgan Stanley Roland Shu - Citigroup Nicolas Baratte - Macquarie Sunny Lin - UBS Sebastian Hou - CLSA Operator Welcome everyone to UMC's 2020 third quarter earnings co ...