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UMC Reports First Quarter 2025 Results<\/b><\/p>\n
22nm revenue surges 46% QoQ on display driver and networking chip demand<\/i><\/b><\/p>\n
Inauguration of new Singapore fab to support future 22nm growth<\/i><\/b><\/p>\n
First Quarter 2025 Overview1<\/sup>:<\/b><\/p>\n TAIPEI, Taiwan–(BUSINESS WIRE<\/a>)–United Microelectronics Corporation (NYSE: UMC; TWSE: 2303)<\/b> (\u201cUMC\u201d or \u201cThe Company\u201d), a leading global semiconductor foundry, today announced its consolidated operating results for the first quarter of 2025.\n<\/p>\n \nFirst quarter consolidated revenue was NT$57.86 billion, decreasing 4.2% from NT$60.39 billion in 4Q24. Compared to a year ago, 1Q25 revenue increased 5.9%. Consolidated gross margin for 1Q25 was 26.7%. Net income attributable to the shareholders of the parent was NT$7.78 billion, with earnings per ordinary share of NT$0.62.\n<\/p>\n \nJason Wang, co-president of UMC, said, \u201cOur results in the first quarter were in line with previous guidance, with flattish wafer shipments and the one-time pricing adjustment at the beginning of the year to reflect market conditions. First-quarter highlights include 22\/28nm revenue hitting a record high, representing 37% of total sales. That was driven by a 46% quarter-over-quarter increase in 22nm revenue from products such as OLED display driver ICs, image signal processors as well as digital TV, WiFi and audio codec chips. We expect customers to tape-out additional 22nm products in the coming quarters as customers increasingly migrate to our 22nm logic and specialty platforms for next-generation applications. Earlier this month, we also officially inaugurated our new Singapore Phase 3 fab, which will provide additional 22nm capacity to support future growth. Pilot runs are underway and is on schedule to ramp up to volume production early 2026. The expansion in Singapore also further broadens our geographic diversification, enabling customers to strengthen their supply chain resilience. In February, our Board of Directors proposed a cash dividend of NT$2.85 per share, which is subject to approval from shareholders in the upcoming annual general meeting.\u201d\n<\/p>\n \nCo-president Wang added, \u201cLooking ahead to the second quarter, we are expecting a moderate rebound in demand across all segments according to near-term alignment with customers. Beyond that, we are cautious about wafer demand projections as policies and markets are still adjusting to the recent tariff announcements. To navigate this challenging environment, we are working closely with customers to monitor trends in end market demand. We are also strengthening our competitive advantages by focusing on execution of key technology projects, such as the 12nm collaboration with U.S. partner, and ensuring our customers have access to geographically diverse manufacturing options. In addition, we are implementing cost reduction plans and accelerating AI and intelligent manufacturing systems to enhance operational efficiency. Through these key focuses, we are confident that UMC can maintain our financial and business resilience.\u201d\n<\/p>\n \nCo-president Wang said, \u201cIn the first quarter, UMC was honored to receive high ratings in two key sustainability benchmarks. In the Sustainability Yearbook 2025 published by S&P Global, UMC is the only semiconductor company globally to earn the \u2018Top 1%\u2019 ranking based on the company\u2019s Corporate Sustainability Assessment (CSA) score. UMC also stood out in the CDP\u2019s annual assessment as the sole semiconductor company to be awarded the highest \u2018A\u2019 rating in both Climate Change and Water Security categories.\u201d\n<\/p>\n Summary of Operating Results<\/b><\/p>\n Operating Results<\/b><\/p>\n<\/td>\n<\/tr>\n \n(Amount: NT$ million)\n<\/p>\n<\/td>\n 1Q25<\/b><\/p>\n<\/td>\n 4Q24<\/b><\/p>\n<\/td>\n QoQ % 1Q24<\/b><\/p>\n<\/td>\n YoY % \nOperating Revenues\n<\/p>\n<\/td>\n \n57,859\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n60,386\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4.2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n54,632\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5.9\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nGross Profit\n<\/p>\n<\/td>\n \n15,447\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18,343\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(15.8\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n16,899\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(8.6\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nOperating Expenses\n<\/p>\n<\/td>\n \n(6,123\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(6,748\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(9.3\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(5,747\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n6.5\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet Other Operating Income and Expenses\n<\/p>\n<\/td>\n \n462\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n362\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n27.6\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n513\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(9.9\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nOperating Income\n<\/p>\n<\/td>\n \n9,786\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,957\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(18.2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n11,665\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(16.1\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nNet Non-Operating Income and Expenses\n<\/p>\n<\/td>\n \n(439\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(1,443\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(69.5\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n1,056\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNet Income Attributable to Shareholders of the Parent\n<\/p>\n<\/td>\n \n7,777\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,497\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(8.5\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n10,456\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(25.6\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \nEPS (NT$ per share)\n<\/p>\n<\/td>\n \n0.62\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.68\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u3000\n<\/p>\n<\/td>\n \n0.84\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nEPS (US$ per ADS)\n<\/p>\n<\/td>\n \n0.093\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n0.104\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u3000\n<\/p>\n<\/td>\n \n0.131\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nExchange rate (USD\/NTD)\n<\/p>\n<\/td>\n \n33.18\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n32.78\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n31.99\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nNote\uff1aSums may not equal totals due to rounding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nFirst quarter operating revenues declined 4.2% sequentially to NT$57.86 billion. Revenue contribution from 40nm and below technologies represented 53% of wafer revenue. Gross profit decreased 15.8% QoQ to NT$15.45 billion, or 26.7% of revenue. Operating expenses decreased 9.3% to NT$6.12 billion. Net other operating income increased 27.6% to NT$0.46 billion. Net non-operating expenses totaled NT$0.44 billion. Net income attributable to shareholders of the parent amounted to NT$7.78 billion.\n<\/p>\n \nEarnings per ordinary share for the quarter was NT$0.62. Earnings per ADS was US$0.093. The basic weighted average number of shares outstanding in 1Q25 was 12,484,780,989, compared with 12,481,192,676 shares in 4Q24 and 12,414,087,724 shares in 1Q24. The diluted weighted average number of shares outstanding was 12,579,207,466 in 1Q25, compared with 12,610,756,874 shares in 4Q24 and 12,577,525,057 shares in 1Q24. The fully diluted shares counted on March 31, 2025 were approximately 12,579,207,000.\n<\/p>\n Detailed Financials Section<\/b><\/p>\n \nOperating revenues decreased to NT$57.86 billion. COGS grew 0.9% to NT$42.41 billion, which included a 4.1% sequential increase in depreciation. Gross profit decreased 15.8% QoQ to NT$15.45 billion. Operating expenses decreased to NT$6.12 billion, as G&A declined 13.9% QoQ to NT$1.54 billion, R&D declined 8.5% to NT$3.96 billion, and Sales & Marketing also declined 0.7% to NT$0.62 billion. Net other operating income was NT$0.46 billion. In 1Q25, operating income declined 18.2% QoQ to NT$9.79 billion.\n<\/p>\n\n
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