AUO Corporation ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investor conference and announced its consolidated financial results for the fourth quarter and fiscal year of 2017(1).
Consolidated revenues in the fourth quarter of 2017 were NT$80.66 billion, down by 7.7% from the previous quarter. AUO’s net profit attributable to owners of the Company was NT$4.20 billion, with a basic EPS(2) of NT$0.44.
For the fiscal year of 2017, consolidated revenues totaled NT$341.03 billion, an increase of 3.6% year-over-year. Net profit attributable to owners of the Company was NT$32.36 billion, with a basic EPS(2) of NT$3.36.
In the fourth quarter of 2017, large-sized panel shipments reached around 28.65 million units, down by 1.5% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter exceeded 46.96 million units, up by 0.3% quarter-over-quarter.
For the full year of 2017, large-sized panel shipments exceeded 111.80 million units, an increase of 1.2% from the previous year. Small and medium-sized panel shipments totaled 168.85 million units, up by 9.7% year-over-year.
Highlights of consolidated results for the fourth quarter of 2017:
Highlights of consolidated results for the fiscal year of 2017:
Looking back on the fourth quarter, although AUO’s revenues were down by 7.7% from the previous quarter due to continued panel prices decline, the Company’s profitability was still at a good level. Operating profit for the fourth quarter reached NT$ 5.70 billion. Net profit attributable to owners of the Company reached NT$4.20 billion. For the full year of 2017, revenues grew by 3.6% year over year. Operating profit for 2017 more than tripled over the previous year to NT$39.14 billion. Net profit attributable to owners of the Company reached NT$32.36 billion, more than quadrupled year over year. Both the profitability indexes marked the highest in a decade.
In 2017, AUO continued to implement the value-added and product differentiation strategies, and have achieved the astonishing results of five consecutive years of profitability. Looking ahead, on the basis of solid financial performances, the Company will continue to make optimal investment in high-quality capacity, to accelerate value-transformation, and to reinforce the ability of technology innovation. These strategies will help the Company maintain stable profitability in the long-term, and become the lead player in the industry.
(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the fourth quarter and the fiscal year of 2017 were calculated based on the weighted average outstanding shares of the fiscal year 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.