AU Optronics Reports NT$8.44 Billion Net Profit Attributable to Owners of the Company for Fourth Quarter 2020
Achieved a Single-quarter profitability to a 3-year high and a Full-year turnaround
AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409) today held its investor conference and announced its consolidated financial results for the fourth quarter of 2020(1).
Consolidated revenues for the fourth quarter of 2020 were NT$80.54 billion, up by 10.0% quarter-over-quarter. AUO’s net profit attributable to owners of the Company for the fourth quarter of 2020 was NT$8.44 billion, with a basic EPS(2) of NT$0.89.
For the fiscal year of 2020, consolidated revenues totaled NT$270.96 billion, up by 0.8% year-over-year. Net profit attributable to owners of the Company was NT$3.38 billion, with a basic EPS(2) of NT$0.36.
For the full year of 2020, the total panel area shipment reached 25.55 million square meters, a slight decrease of 0.2% from the total panel area shipment of 25.60 million square meters in 2019.
|Highlights of consolidated results for the fourth quarter of 2020
|Highlights of consolidated results for the fiscal year of 2020
Looking back to 2020, since the pandemic outbreak in the beginning of the year, the panel industry had its low point in the first half of the year. Nevertheless, things started to turn around from the end of the second quarter. Driven by the booming stay-at-home economy, supply could not meet increasing demand, thus leading to a quarter on quarter improvement of the Company's operating results.
To sum up 2020, revenues increased slightly by 0.8% year over year to NT$270.96 billion. On the other hand, profitability turned to black compared to the previous year, with operating profit of NT$2.08 billion and net profit attributable to owners of the Company of NT$3.38 billion, all resulting from the Company’s efforts during the year.
Looking into 2021, industry supply and demand is expected to stay at a relatively healthy and stable status. The Company will continue to dedicate its effort at value transformation, implementing a biaxial strategy through deployment in premium products and the field economy. Going forward, by realizing its biaxial transformation strategy, the Company will enhance its competitive advantage, and ultimately improve its position as an acknowledged industry leader.
(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the fourth quarter of 2020 was calculated based on the weighted average outstanding shares of the reporting quarter (9,499 million shares) ; Basic EPS in the fiscal year of 2020 was calculated based on the weighted average outstanding shares of the reporting year (9,499 million shares).
(3) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.