UMC Reports Fourth Quarter 2017 Results

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.

- FINANCIAL TABLES TO FOLLOW -


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of December 31, 2017
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	December 31, 2017
	US$	NT$	%
Assets
Current assets
Cash and cash equivalents	2,743	81,675	20.7%
Financial assets at fair value through profit or loss, current	24	717	0.2%
Notes & Accounts receivable, net	704	20,974	5.3%
Inventories, net	613	18,258	4.6%
Other current assets	589	17,536	4.5%
Total current assets	4,673	139,160	35.3%

Non-current assets
Funds and investments	1,143	34,040	8.6%
Property, plant and equipment	6,909	205,742	52.2%
Other non-current assets	509	15,157	3.9%
Total non-current assets	8,561	254,939	64.7%
Total assets	13,234	394,099	100.0%

Liabilities
Current liabilities
Short-term loans	854	25,446	6.5%
Payables	949	28,267	7.2%
Current portion of long-term liabilities	919	27,364	6.9%
Other current liabilities	235	6,984	1.8%
Total current liabilities	2,957	88,061	22.4%

Non-current liabilities
Bonds payable	795	23,676	6.0%
Long-term loans	995	29,643	7.5%
Other non-current liabilities	1,300	38,681	9.8%
Total non-current liabilities	3,090	92,000	23.3%
Total liabilities	6,047	180,061	45.7%

Equity
Equity attributable to the parent company
Capital	4,239	126,243	32.0%
Additional paid-in capital	1,372	40,859	10.4%
Retained earnings, unrealized gain or loss on available-for-sale financial assets and exchange differences on translation of foreign operations	1,702	50,698	12.9%
Treasury stock	(158)	(4,719)	(1.2%)
Total equity attributable to the parent company	7,155	213,081	54.1%
Non-controlling interests	32	957	0.2%
Total equity	7,187	214,038	54.3%
Total liabilities and equity	13,234	394,099	100.0%







Note：New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 per U.S. Dollar.

UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data


	Year over Year Comparison					Quarter over Quarter Comparison
	Three-Month Period Ended					Three-Month Period Ended
	December 31, 2017		December 31, 2016		Chg.	December 31, 2017		September 30, 2017		Chg.
	US$	NT$	US$	NT$	%	US$	NT$	US$	NT$	%
Net operating revenues	1,230	36,631	1,286	38,306	(4.4%)	1,230	36,631	1,266	37,698	(2.8%)
Operating costs	(1,019)	(30,333)	(992)	(29,547)	2.7%	(1,019)	(30,333)	(1,045)	(31,106)	(2.5%)
Gross profit	211	6,298	294	8,759	(28.1%)	211	6,298	221	6,592	(4.5%)
	17.2%	17.2%	22.9%	22.9%		17.2%	17.2%	17.5%	17.5%
Operating expenses
- Sales and marketing expenses	(31)	(944)	(43)	(1,282)	(26.4%)	(31)	(944)	(36)	(1,070)	(11.8%)
- General and administrative expenses	(39)	(1,164)	(51)	(1,521)	(23.5%)	(39)	(1,164)	(33)	(991)	17.5%
- Research and development expenses	(104)	(3,090)	(129)	(3,824)	(19.2%)	(104)	(3,090)	(112)	(3,343)	(7.6%)
Subtotal	(174)	(5,198)	(223)	(6,627)	(21.6%)	(174)	(5,198)	(181)	(5,404)	(3.8%)
Net other operating income and expenses	27	801	5	144	456.3%	27	801	15	441	81.6%
Operating income	64	1,901	76	2,276	(16.5%)	64	1,901	55	1,629	16.7%
	5.2%	5.2%	5.9%	5.9%		5.2%	5.2%	4.3%	4.3%

Net non-operating income and expenses	(5)	(152)	(40)	(1,210)	(87.4%)	(5)	(152)	41	1,236	-
Income from continuing operations before income tax	59	1,749	36	1,066	64.1%	59	1,749	96	2,865	(39.0%)
	4.8%	4.8%	2.8%	2.8%		4.8%	4.8%	7.6%	7.6%

Income tax expense	(19)	(556)	(21)	(617)	(9.9%)	(19)	(556)	(13)	(401)	38.7%
Net income	40	1,193	15	449	165.7%	40	1,193	83	2,464	(51.6%)
	3.3%	3.3%	1.2%	1.2%		3.3%	3.3%	6.5%	6.5%

Other comprehensive income (loss)	(46)	(1,366)	(20)	(591)	131.1%	(46)	(1,366)	(36)	(1,068)	27.9%

Total comprehensive income (loss)	(6)	(173)	(5)	(142)	21.8%	(6)	(173)	47	1,396	-

Net income attributable to:
Stockholders of the parent	59	1,771	86	2,548	(30.5%)	59	1,771	117	3,473	(49.0%)
Non-controlling interests	(19)	(578)	(71)	(2,099)	(72.5%)	(19)	(578)	(34)	(1,009)	(42.7%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	14	416	64	1,902	(78.1%)	14	416	81	2,402	(82.7%)
Non-controlling interests	(20)	(589)	(69)	(2,044)	(71.2%)	(20)	(589)	(34)	(1,006)	(41.5%)

Earnings per share-basic	0.005	0.15	0.007	0.21		0.005	0.15	0.009	0.28
Earnings per ADS ⁽²⁾	0.025	0.75	0.035	1.05		0.025	0.75	0.047	1.40
Weighted average number of shares
outstanding (in millions)		12,208		12,208			12,208		12,208


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	For the Three-Month Period Ended			For the Twelve-Month Period Ended
	December 31, 2017			December 31, 2017
	US$	NT$	%	US$	NT$	%
Net operating revenues	1,230	36,631	100.0%	5,013	149,285	100.0%
Operating costs	(1,019)	(30,333)	(82.8%)	(4,104)	(122,227)	(81.9%)
Gross profit	211	6,298	17.2%	909	27,058	18.1%


Operating expenses
- Sales and marketing expenses	(31)	(944)	(2.6%)	(142)	(4,234)	(2.8%)
- General and administrative expenses	(39)	(1,164)	(3.2%)	(143)	(4,240)	(2.8%)
- Research and development expenses	(104)	(3,090)	(8.4%)	(459)	(13,669)	(9.2%)
Subtotal	(174)	(5,198)	(14.2%)	(744)	(22,143)	(14.8%)
Net other operating income and expenses	27	801	2.2%	56	1,653	1.1%
Operating income	64	1,901	5.2%	221	6,568	4.4%

Net non-operating income and expenses	(5)	(152)	(0.4%)	41	1,230	0.8%
Income from continuing operations before income tax	59	1,749	4.8%	262	7,798	5.2%


Income tax expense	(19)	(556)	(1.5%)	(39)	(1,167)	(0.8%)
Net income	40	1,193	3.3%	223	6,631	4.4%

Other comprehensive income (loss)	(46)	(1,366)	(3.8%)	(136)	(4,034)	(2.7%)

Total comprehensive income (loss)	(6)	(173)	(0.5%)	87	2,597	1.7%

Net income attributable to:
Stockholders of the parent	59	1,771	4.8%	323	9,629	6.5%
Non-controlling interests	(19)	(578)	(1.5%)	(100)	(2,998)	(2.1%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	14	416	1.1%	192	5,706	3.8%
Non-controlling interests	(20)	(589)	(1.6%)	(105)	(3,109)	(2.1%)

Earnings per share-basic	0.005	0.15		0.027	0.79
Earnings per ADS ⁽²⁾	0.025	0.75		0.133	3.95

Weighted average number of shares outstanding (in millions)		12,208			12,208

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Twelve-Month Period Ended December 31, 2017
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$	NT$
Cash flows from operating activities :
Net income before tax	262	7,798
Depreciation & Amortization	1,783	53,099
Exchange gain on financial assets and liabilities	(82)	(2,432)
Changes in prepayments	(68)	(2,014)
Changes in other current assets	(80)	(2,384)
Changes in assets, liabilities and others	6	174
Income tax paid	(59)	(1,767)
Net cash provided by operating activities	1,762	52,474

Cash flows from investing activities :
Proceeds from disposal of available-for-sale financial assets	73	2,160
Proceeds from capital reduction and liquidation of investments	71	2,102
Acquisition of property, plant and equipment	(1,485)	(44,236)
Acquisition of intangible assets	(43)	(1,284)
Others	195	5,842
Net cash used in investing activities	(1,189)	(35,416)

Cash flows from financing activities :
Increase in short-term loans	197	5,879
Proceeds from bonds issued	460	13,700
Redemption of bonds	(252)	(7,500)
Proceeds from long-term loans	403	12,001
Repayments of long-term loans	(255)	(7,603)
Cash dividends	(205)	(6,103)
Acquisition of subsidiaries	(44)	(1,309)
Others	4	97
Net cash provided by financing activities	308	9,162

Effect of exchange rate changes on cash and cash equivalents	(71)	(2,124)
Net Increase in cash and cash equivalents	810	24,096

Cash and cash equivalents at beginning of period	1,933	57,579

Cash and cash equivalents at end of period	2,743	81,675


Note: New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2017 exchange rate of NT $29.78 per U.S. Dollar.

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