AU Optronics Reports NT$19.31 Billion Net Profit Attributable to Owners of the Company for Third Quarter 2021
High-value strategy creates stable profits and achieves an operating profit exceeding 20 billion for the second consecutive quarter
AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409) today held its investor conference and announced its consolidated financial results for the third quarter of 2021(1).
Consolidated revenues for the third quarter of 2021 were NT$99.05 billion, up by 3.6% quarter-over-quarter. AUO’s net profit attributable to owners of the Company for the third quarter of 2021 was NT$19.31 billion, with a basic EPS(2) of NT$2.03.
The total panel area shipment reached around 6.44 million square meters in the third quarter of 2021, up by 0.7% quarter-over-quarter and down by 6.1% year-over-year.
Highlights of consolidated results for the third quarter of 2021
Looking back to the third quarter, the restocking demand for the high demand season was weaker than expected. Prices for small-to-mid size TV panels were down by a larger degree. However, commercial demand for notebook PCs and desktop monitors has been relatively strong, as well as demand for retail and industrial PC applications. These have led to a robust revenue increase of 3.6% quarter-over-quarter. Cumulative revenue in the first three quarters reached NT$277.65 billion, which already surpassed the full-year revenue in 2020. Operating profit for the third quarter reached NT$20.43 billion, bringing in abundant cash inflows for the Company.
Looking to the fourth quarter, the Company intends to dynamically adjust its product portfolio, with more flexibility, in response to market fluctuations. With the continuing development of the bi-axial transformation strategy, the Company expects future operations can break away from industry cyclicality, which leads to more stable cash inflows and profitability growth. With all these efforts, the Company believes that the market will eventually view the value that AUO provides from a whole new perspective.
(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the third quarter of 2021 was calculated based on the weighted average outstanding shares of the reporting quarter (9,515 million shares).
(3) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.