United Microelectronics Corp. · TWSE:2303
United Microelectronics — UMC — Q4 2004 Earnings Presentation
20 slides from United Microelectronics's earnings presentation, Feb 2, 2005
Slide 1: UMC 2004 Q4 Financial Review
UMC 2004 Q4 Financial Review February 2, 2005 P. 1
Slide 2: Note Concerning Forward-Looking Statements
NOTE CONCERNING FORWARD-LOOKING STATEMENTS Except for statements in respect of historical matters, the statements in this release contain "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. The
Slide 3: Operating Results Summary
Operating Results Summary Unit: NT M 2004 2004 2003 Q4 / Dec Q3 / Sep Q4 / Dec Net Operating Revenues 28,229 34,580 23,719 Net Income 1,333 10,914 6,727 EPS (NTD) 0.07 0.65 0.41 Cash and Cash Equivalents 83,347 85,270 92,866 Total Assets 329,563 338,672 320,114 Total Liabilities 63,180 72,267 87,872
Slide 4: Income Statement - QoQ
Income Statement - QoQ Unit: NT M Change Q4-04 % Q3-04 % % Net Operating Revenues 28,229 100.0 34,580 100.0 (18.4) Gross Profit 6,488 23.0 11,663 33.7 (44.4) Operating Expenses (3,649) (12.9) (2,926) (8.4) 24.7 Operating Income 2,839 10.1 8,737 25.3 (67.5) Net Non-operating Income (Expense) (1,506)
Slide 5: Income Statement - YoY: 12 Months
Income Statement - YoY: 12 Months Unit: NT M 2004 % 2003 % Change % Net Operating Revenues 117,312 100.0 84,862 100.0 38.2 Gross Profit 35,821 30.5 19,442 22.9 84.2 Operating Expenses (11,366) (9.7) (9,506) (11.2) 19.6 Operating Income 24,455 20.8 9,936 11.7 146.1 Net Non-operating Income 7,422 6.3
Slide 6: Investment Income
Investment Income Unit: NT M Q4-04 Q3-04 Investment income accounted for under the equity method (1,965) 120 UMCJ (487) 124 UMCi (1,544) (264) Faraday 56 70 Novatek 139 202 SiS (133) (231) UMO (57) (22) Unimicron 129 117 Others (68) 124 Impairment loss of long-term investments 0 (85) Cash dividends
Slide 7: Balance Sheet Highlight - Dec. 31, 2004
Balance Sheet Highlight - Dec. 31, 2004 Unit: NT M Cash and Cash Equivalents 83,347 Long-term Investments 71,568 Fixed Assets 137,355 Total Assets 329,563 Current Liabilities 23,277 Long-term Debts 33,607 Stockholders' Equity 266,383 Depreciation Expense (YTD) 38,596 P. 7
Slide 8: Average Selling Price Trend - 8" Wafer Equivalent
Average Selling Price Trend- 8” Wafer Equivalent Unit: USD 1,500 1,000 500 0 Q4-03 Q1-04 Q2-04 Q3-04 Q4-04 P. 8
Slide 9: Sales Breakdown by Geography
Sales Breakdown by Geography 2004 Q4 2004 Q3 Japan Japan Europe Europe 3% 4% 16% 19% North North America America 44% Asia 49% 32% Asia 33% P. 9
Slide 10: Sales Breakdown by Geography
Sales Breakdown by Geography 2004 2003 Japan Japan Europe Europe 4% 4% 17% 16% North North America America 40% 45% Asia 34% Asia 40% P. 10
Slide 11: Sales Breakdown by Customer
Sales Breakdown by Customer 2004 Q4 2004 Q3 IDM IDM 34% 32% Fabless Fabless 66% 68% P. 11
Slide 12: Sales Breakdown by Customer
Sales Breakdown by Customer 2004 2003 IDM IDM 27% 31% Fabless 69% Fabless 73% P. 12
Slide 13: Sales Breakdown by Application
Sales Breakdown by Application 2004 Q4 2004 Q3 Other Other 3% Memory 2% Memory 1% 2% Computer Computer 24% 20% Communication 49% Communication 44% Consumer Consumer 23% 32% P. 13
Slide 14: Sales Breakdown by Application
Sales Breakdown by Application 2004 2003 Other Other 2% Memory 2% Memory 2% 3% Computer Computer 22% 27% Communication Communication 45% 38% Consumer Consumer 29% 30% P. 14
Slide 15: Sales Breakdown by Technology
Sales Breakdown by Technology 2004 Q4 2004 Q3 90nm 90nm ≥ 0.5 8% ≥ 0.5 2% 9% 9% 0.13u 18% 0.35 0.13u 0.35 17% 19% 17% 0.15u 15% 0.25u 0.25u 12% 0.15u 14% 16% 0.18u 0.18u 19% 25% P. 15
Slide 16: Sales Breakdown by Technology
Sales Breakdown by Technology 2004 2003 90nm ≤ 0.13u ≥ 0.5 3% ≥ 0.5 8% 0.13u 0.15u 10% 11% 15% 7% 0.35 19% 0.35 0.15u 24% 13% 0.18u 26% 0.25u 16% 0.18u 0.25u 24% 24% P. 16
Slide 17: Quarterly Capacity
Quarterly Capacity unit: in thousands (8" wafer eq.) FAB 2Q04 3Q04 4Q04 1Q05E Fab 6A 86 86 86 86 Fab 8AB 196 200 204 204 Fab 8C 96 99 101 101 Fab 8D 61 65 72 75 Fab 8E 101 102 102 102 Fab 8F 81 92 95 95 Fab 8S 0 60 71 72 Fab 12A 84 113 127 139 Subtotal 705 817 858 874 UMCi 9 29 60 80 Total 714 846 9
Slide 18: 2004 Capital Expenditure
2004 Capital Expenditure 8" Fab 12" Fab 12" R&D Total UMC 14% 75% 11% 1,530 million USD UMCJ 100% - - 120 million USD UMCi - 100% - 910 million USD P. 18
Slide 19: 2005 Capital Expenditure Plan
2005 Capital Expenditure Plan 8" Fab 12" Fab 12" R&D Total UMC 5% 80% 15% 1~1.5 billion USD P. 19
Slide 20: For more information regarding UMC
For more information regarding UMC www.umc.com For all inquiries, suggestions, and comments ir@umc.com P. 20