United Microelectronics (UMC) Q2 2021 earnings summary

Executive summary

• Q2 2021 revenue rose 14.7% YoY and 8.1% QoQ to NT$50,908m; net income increased 96.1% YoY and 20.0% QoQ to NT$11,867m.

• H1 revenue reached NT$98,005m, with net income of NT$21,755m and basic EPS of NT$1.83.

Financial highlights

• Q2 gross profit was NT$15,908m, up 55.1% YoY and 27.3% QoQ; gross margin was 31.3%, versus 23.1% and 26.5%, respectively.

• Q2 operating income was NT$11,313m, up 93.5% YoY and 48.4% QoQ; operating margin was 22.2%.

• Q2 parent-attributable net income was NT$11,943m, up 78.8% YoY; basic EPS was NT$0.98, versus NT$0.55 a year earlier.

• H1 operating income was NT$18,935m and parent-attributable net income was NT$22,371m; basic EPS was NT$1.83.

Key financial ratios and metrics

• Q2 gross, operating and net margins were 31.3%, 22.2% and 23.3%, respectively; H1 margins were 29.0%, 19.3% and 22.2%.

• At June 30, 2021, total assets were NT$421,677m, total liabilities NT$181,485m and total equity NT$240,192m; liabilities represented 43.0% of assets.

• Cash and cash equivalents were NT$124,000m at June 30, 2021, versus NT$94,048m at the beginning of H1.