AUO Corporation ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investor conference and announced its consolidated financial results for the third quarter of 2018(1).
Consolidated revenues for the third quarter of 2018 were NT$81.04 billion, up by 8.0% quarter-over-quarter. AUO’s net profit attributable to owners of the Company for the third quarter of 2018 was NT$4.32 billion, with a basic EPS(2) of NT$0.45.
For the first nine months of 2018, AUO reported consolidated revenues of NT$230.54 billion. Net profit attributable to owners of the Company was NT$9.88 billion, with a basic EPS(2) of NT$1.03.
In the third quarter of 2018, large-sized panel(3) shipments totaled 29.79 million units, up by 6.5% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 42.56 million units, down by 6.1% quarter-over-quarter.
Highlights of consolidated results for the third quarter of 2018:
- Revenues of NT$81.04 billion
- Operating profit of NT$3.07 billion
- Net profit attributable to owners of the Company at NT$4.32 billion
- Basic EPS(2) of NT$0.45
- Gross margin was 10.7%
- Operating margin was 3.8%
- EBITDA(4) 獲利率為14.6%
- EBITDA(4) margin was 14.6%
- EBITDA(4) margin of Display Segment was 15.3%
Looking back on the third quarter, as brand customers were aggressively restocking for the year-end holiday season, the Company’s shipment momentum remained quite robust. Owing to the relatively stable panel prices and New Taiwan Dollar depreciation, the quarterly revenues increased by 8.0% from the previous quarter. In addition, the operating profit reached NT$3.07 billion and net profit attributable to owners of the Company reached NT$4.32 billion, making the third quarter the best-performing quarter for the year.
Entering into the fourth quarter, the year-end holiday season restocking demand gradually came to an end. Going forward, facing potential fluctuations caused by the increasing capacity from China and international trade disputes, AUO will insist on its core strategy. Through technological innovation and flexible management capability, the Company will keep focusing on value transformation, so to create a mutually beneficial relationship with its customers and maintain its operational stability.
(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the third quarter of 2018 and the first nine months of 2018 were calculated based on the weighted average outstanding shares of the first nine months of 2018 (9,624 million shares).
(3) Large size refers to panels that are 10 inches and above.
(4) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.