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 2017(1).
AUO’s consolidated revenues for the third quarter of 2017 were NT$87.40 billion, up by 3.5% from the previous quarter. Net profit attributable to owners of the Company for the third quarter of 2017 was NT$8.86 billion, with a basic EPS(2) of NT$0.92.
For the first nine months of 2017, AUO reported consolidated revenues of NT$260.36 billion. Net profit attributable to owners of the Company was NT$28.16 billion, with a basic EPS(2) of NT$2.93.
In the third quarter of 2017, large-sized panel(3) shipments totaled 29.09 million units, up by 8.3% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 46.81 million units, up by 21.1% quarter-over-quarter.
Highlights of consolidated results for the third quarter of 2017:
Looking back on the third quarter, benefiting from the inventory restocking demand for the year-end holiday season, the shipment momentum remained quite robust. As a result, AUO’s revenues for the third quarter still increased by 3.5% quarter-over-quarter despite the declining panel prices. Profitability improved significantly from the same period last year. The quarterly operating profit reached NT$9.74 billion, up by 69.2% year-over-year. And the net profit attributable to owners of the Company reached NT$8.86 billion, up by 80.8% year-over-year. As for the Display Segment, the Company has achieved operating profit margin of 11.8% and EBITDA margin of 21.9%, still maintaining its earning performance at relatively high levels.
Looking into the fourth quarter, the Company holds a positive view on the overall industry demand in the future on one hand, and watches closely for any change in the end demand and inventory level in order to respond promptly. Next, AUO will accelerate its development of new products for next year and continue surpassing its competitors by its advanced technologies, and moving towards a direction that jointly creates values with its customers.
(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the third quarter of 2017 and the first nine months of 2017 were calculated based on the weighted average outstanding shares of the first nine months of 2017 (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.