UMC Reports Fourth Quarter 2015 Results

Cash inflow from operating activities reached NT$15.43 billion. Cash outflow from investing activities totaled NT$17.07 billion, including NT$13.34 billion CAPEX spending for the foundry segment. Acquisition of available for sale financial assets totaled NT$2.00 billion, including NT$1.35 billion to acquire an increasing stake of Mie Fujitsu Semiconductor Limited through its new share issuance. Cash inflow from financing activities was NT$2.89 billion, mainly due to bank loans. Net cash inflow for 4Q15 was NT$1.15 billion. Over the next 12 months, the company expects to repay NT$6.60 billion in bank loans.

Current Assets
(Amount: NT$ billion)	4Q15	3Q15	4Q14
Cash and Cash Equivalents	53.29	52.14	45.70
Notes & Accounts Receivable	19.33	19.76	22.37
Days Sales Outstanding	53	53	54
Inventories, net	17.64	16.56	15.24
Days of Inventory	58	52	50
Total Current Assets	94.82	95.03	96.86

Cash and cash equivalents increased to NT$53.29 billion, mainly due to bank loans. The days of inventory increased 6 days to 58 days, mainly due to an increase in WIP for 1Q16 wafer shipments.

Liabilities
(Amount: NT$ billion)	4Q15	3Q15	4Q14
Total Current Liabilities	48.25	44.47	48.11
Notes & Accounts Payable	5.95	6.34	6.17
Short-Term Credit / Bonds	12.11	8.84	10.03
Payable on Equipment	14.66	14.08	10.48
Liabilities directly associated with non-current assets held for sale	-	-	5.59
Other	15.53	15.21	15.84
Long-Term Credit / Bonds	47.52	47.79	33.40
Long-Term Investment Liabilities	6.06	6.24	-
Total Liabilities	108.55	105.21	88.24
Debt to Equity	47%	47%	39%

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