United Microelectronics (UMC) Q4 2020 earnings summary

Executive summary

• Q4 2020 revenue rose 8.2% YoY and net income reached NT$10,890 million; FY revenue was NT$176,821 million and net income NT$27,180 million.

Financial highlights

• Q4 revenue was NT$45,296 million, up 8.2% YoY and 0.9% QoQ; gross profit was NT$10,848 million, up 55.7% YoY and 11.0% QoQ.

• Q4 net income was NT$10,890 million, up 245.1% YoY and 20.9% QoQ; net income attributable to parent shareholders was NT$11,196 million.

• FY revenue was NT$176,821 million, gross profit NT$38,997 million, operating income NT$22,007 million and net income NT$27,180 million.

• FY basic EPS was NT$2.42 and EPS per ADS was NT$12.10; Q4 basic EPS was NT$0.92 and EPS per ADS NT$4.60.

• At Dec. 31, 2020, total assets were NT$377,516 million, cash and equivalents NT$94,048 million, total liabilities NT$141,743 million and total equity NT$235,773 million.

Key financial ratios and metrics

• Q4 gross margin was 23.9%, versus 16.7% YoY and 21.8% QoQ; operating margin was 12.4%, versus 4.8% YoY and 15.9% QoQ.

• FY gross margin was 22.1%, operating margin 12.5% and net income margin 15.4%.