UMC Reports Second Quarter 2015 Results

Foundry revenue grew 1.5% to NT$36.52 billion and New Business segment recorded NT$1.83 billion, leading to a consolidated revenue of NT$38.01 billion. Depreciation increased 3.2% from 1Q15 to NT$9.40 billion, mainly from 28nm capacity deployment. Other manufacturing costs was up 2.6% QoQ to NT$19.89 billion, mostly due to higher wafer shipments in 2Q15. Operating expenses stayed almost flat at NT$4.86 billion. Net operating income was NT$3.88 billion.

Non-Operating Income and Expenses

(Amount: NT$ million)

2Q15

1Q15

2Q14

Non-Operating Income and Expenses

1,304

255

937

Net Interest Income and Expenses

(46)

(27)

(149)

Net Investment Gain and Loss

(247)

126

188

Gain and Loss on Disposal of Investment

1,319

190

792

Exchange Gain and Loss

11

(77)

(4)

Other Gain and Loss

267

43

110

Net non-operating income in 2Q15 was NT$1.30 billion, primarily from the gains recognized in the reclassification of available for sale financial assets into investments accounted for under the equity method and the merger of UMC's solar subsidiary Topcell into Motech.


Cash Flow Summary

(Amount: NT$ million)

For the 3-Month Period Ended

Jun. 30, 2015

For the 3-Month Period Ended

Mar. 31, 2015

Cash Flow from Operating Activities

11,459

16,870

  Net income before tax

5,180

4,354

  Depreciation & Amortization

Bad debt reversal

          11,194

                (173)

     10,748

                  (9)

Gain on disposal of investments

(1,319)

(190)

Impairment loss on financial assets

416

63

  Exchange gain on financial assets and liabilities

(204)

(13)

  Changes in working capital

Income tax paid

             (2,066)

             (1,305)

          2,315

             (366)

  Other

(264)

(32)

Cash Flow from Investing Activities

(14,757)

(16,498)

  Capital expenditures

(12,034)

(14,893)

  Acquisition of available-for-sale financial assets

   Disposal of subsidiaries

         (665)

             (835)

       (1,897)

                 -

     Proceeds from disposal of non-current      assets held for sale

-

642

     Changes in refundable deposits

(1,286)

(1)

  Changes in other assets-others

(54)

(517)

  Other

117

168

Cash Flow from Financing Activities

13,824

8,155

  Bank loans

(5,253)

1,716

Bonds Issued

18,425

-

     Increase in other financial liabilities

-

6,108

  Treasury stock sold to employees

   Other

                  677

                  (25)

                     -

            331

Effect of Exchange Rate

(443)

(776)

Net Cash Flow

10,083

7,751

    Beginning balance

    Changes in non-current assets held for     sale

     53,632

                                        331

             45,701

                                       180

Ending Balance

64,046

53,632


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