United Microelectronics Corp. Sponsored ADR (UMC.US) Q4 revenue increased by 9.9% year-on-year, and wafer shipments slightly exceeded expectations.

On January 21 (Tuesday) before the US stock market opened, United Microelectronics Corp. Sponsored ADR (UMC.US) announced its performance for the fourth quarter of 2024. The financial report shows that United Microelectronics Corp. Sponsored ADR's Q4 revenue was $1.84 billion, a year-on-year increase of 9.9%, which was $10 million lower than market expectations; net profit was $259 million, a year-on-year decrease of 35.6%; diluted earnings per ADS was $0.10, below market expectations of $0.15. United Microelectronics Corp. Sponsored ADR's wafer shipments in the fourth quarter increased by 1.5% to 909,000 pieces, with a quarterly capacity of 1.28 million, and the overall utilization rate in the fourth quarter slightly decreased to 70%. The average selling price (ASP) remained unchanged in the fourth quarter. Revenue contribution from 22/28nm slightly decreased to 34% of wafer revenue, while revenue contribution from 40nm increased to 16%. Jason Wang, Co-President of United Microelectronics Corp. Sponsored ADR, said: "Our performance in the fourth quarter met expectations, with wafer shipments and utilization rate slightly exceeding expectations. For the full year of 2024, revenue increased by 4.4% year-on-year, reflecting steady improvement in demand in the communication, consumer, and computer sectors. Our 22/28nm product portfolio remains the largest contributor, with revenue growth of 15% in 2024." In the fourth quarter, communication business revenue accounted for 39% of United Microelectronics Corp. Sponsored ADR's revenue, computer application business revenue remained at 13%, consumer application business revenue accounted for 29%, and revenue from other businesses increased to 19%. As of the end of the quarter, United Microelectronics Corp. Sponsored ADR's cash and cash equivalents increased to NT$105 billion, and inventory turnover days decreased by 5 days to 80 days. Performance Guidance United Microelectronics Corp. Sponsored ADR expects wafer shipments to remain stable in the first quarter of 2025; the average selling price in US dollars will decline by a mid-single-digit percentage.