AUO Corporation ("AUO" or the "Company") (TWSE: 2409) today held its investor conference and announced its consolidated financial results for the third quarter of 2020(1).
Consolidated revenues for the third quarter of 2020 were NT$73.23 billion, up by 15.3% quarter-over-quarter. AUO’s net profit attributable to owners of the Company for the third quarter of 2020 was NT$2.89 billion, with a basic EPS(2) of NT$0.30.
In the third quarter of 2020, large-sized panel(3) shipments exceeded 33.83 million units, up by 10.2% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 30.06 million units, up by 3.3% quarter-over-quarter.
Highlights of consolidated results for the third quarter of 2020
Looking back to the third quarter, demand for stay-at-home related applications continued to be robust. Benefited from strong shipment momentum and increasing panel prices, the Company’s quarterly revenues rose by 15.3% comparing to the previous quarter. Operating results successfully returned to the black, with operating profit reaching NT$2.65 billion and net profit attributable to owners of the Company reaching NT$2.89 billion, and had significantly improved from the first half of 2020.
Looking into the fourth quarter, as demand for panels remains strong, the Company will continue to dynamically adjust its capacity allocation so to meet customer demand. Regarding our strategy on value transformation, the Company intends to cooperate with more industry partners. By integrating displays into diversified smart fields, the Company attempts to find the optimal solution for value enhancement, and jointly build the ecosystem of field economy with industry partners.
(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the third quarter of 2020 was calculated based on the weighted average outstanding shares of the reporting quarter (9,499 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.