UMC Reports Second Quarter 2019 Results

Net non-operating expense in 2Q19 was NT$617 million, primarily resulting from NT$497 million in net interest expense and NT$182 million in exchange loss, partly offset by NT$69 million in net investment gain.

Cash Flow Summary

(Amount: NT$ million)

For the 3-Month Period Ended

Jun. 30, 2019

For the 3-Month Period Ended

Mar. 31, 2019

Cash Flow from Operating Activities

12,268

8,183

Net income (loss) before tax

1,144

(350)

Depreciation & Amortization

12,185

12,380

Expected credit losses

587

-

Net loss (gain) of financial assets

and liabilities at FVTPL

274

(1,032)

Share of profit or loss of associates and

joint ventures

(201)

(196)

Exchange loss (gain) on financial assets and liabilities

583

(554)

Changes in working capital

(1,047)

(1,339)

Interest paid

(994)

(215)

Other

(263)

(511)

Cash Flow from Investing Activities

(4,188)

(5,683)

Acquisition of PP&E

(3,904)

(5,563)

Acquisition of intangible assets

(247)

(530)

Other

(37)

410

Cash Flow from Financing Activities

(6,467)

2,180

Bank loans

(1,197)

2,463

Redemption of bonds

(2,500)

-

Treasury stock acquired

(2,641)

(331)

Other

(129)

48

Effect of Exchange Rate

10

396

Net Cash Flow

1,623

5,076

Beginning balance

88,738

83,662

Changes in non-current assets held for sale

(5)

-

Ending balance

90,356

88,738

Cash inflow from operating activities was NT$12.27 billion while foundry CAPEX was NT$4.09 billion, leading to free cash flow of NT$8.17 billion. Cash outflow from financing activities totaled NT$6.47 billion, including NT$2.64 billion in payment for treasury share buyback, NT$2.50 billion in redemption of bonds and NT$1.20 billion in bank loans. Net cash inflow in 2Q19 was NT$1.62 billion. Over the next 12 months, the company expects to repay NT$2.73 billion in bank loans.

Current Assets

(Amount: NT$ billion)

2Q19

1Q19

2Q18

Cash and Cash Equivalents

90.36

88.74

75.19

Notes & Accounts Receivable

24.39

22.99

27.01

Days Sales Outstanding

60

66

61

Inventories, net

19.63

18.87

17.66

Days of Inventory

58

56

49

Total Current Assets

150.51

146.80

137.08


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