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    2409   TW0002409000

AU OPTRONICS CORP.

(2409)
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AU Optronics : Reports NT$19.53 Billion Net Profit Attributable to Owners of the Company for Second Quarter 2021

07/29/2021 | 01:57am EDT
AU Optronics Reports NT$19.53 Billion Net Profit Attributable to Owners of the Company for Second Quarter 2021 Single-quarter operating profit achieved another breakthrough and step into the realm of NT$20 Billion
Published date: 2021-07-29

AU Optronics Corp. ('AUO' or the 'Company') (TWSE: 2409) today held its investor conference and announced its consolidated financial results for the second quarter of 2021(1).

Consolidated revenues for the second quarter of 2021 were NT$95.66 billion, up by 15.3% quarter-over-quarter. AUO's net profit attributable to owners of the Company for the second quarter of 2021 was NT$19.53 billion, with a basic EPS(2) of NT$2.06.

The total panel area shipment reached around 6.40 million square meters in the second quarter of 2021, up by 0.8% quarter-over-quarter and up by 0.2% year-over-year.

Highlights of consolidated results for the second quarter of 2021

  • Revenues of NT$95.66 billion
  • Operating profit of NT$20.29 billion
  • Net profit attributable to owners of the Company at NT$19.53 billion
  • Basic EPS(2) was NT$2.06
  • Gross margin was 28.7%
  • Operating margin was 21.2%
  • EBITDA(3) margin was 30.1%

Looking back to the second quarter, panel demand among various applications remained robust. The persistent upward pricing trend over the past year has led to a remarkable revenue increase of 15.3% quarter-over-quarter, registering a record high since 2015. In terms of profitability, operating profit for the second quarter was NT$20.29 billion, which marked as the Company's best performance since the third quarter of 2008.

Looking into the third quarter, channel inventory is expected to stay at a healthy level. Brand customers are actively restocking for the year-end higher season, and orders from commercial applications also recovers with gradual easing of the pandemic. Given solid demand, industry supply and demand should remain at a healthy and balanced level. In addition to steady operation, the Company will gradually implement in parallel its action plans toward biaxial transformation. Our goal is to become a leader in the industry providing total solution that integrating display and AIoT technology.

(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.

(2) Basic EPS in the second quarter of 2021 was calculated based on the weighted average outstanding shares of the reporting quarter (9,503 million shares).

(3) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.

Disclaimer

AUO - AU Optronics Corporation published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:56:08 UTC.


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Financials
Sales 2021 374 B 13 380 M 13 380 M
Net income 2021 65 509 M 2 343 M 2 343 M
Net cash 2021 34 823 M 1 246 M 1 246 M
P/E ratio 2021 2,54x
Yield 2021 16,1%
Capitalization 165 B 5 888 M 5 898 M
EV / Sales 2021 0,35x
EV / Sales 2022 0,32x
Nbr of Employees 43 000
Free-Float 81,1%
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 17,35 TWD
Average target price 22,79 TWD
Spread / Average Target 31,4%
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Managers and Directors
Shuang Lang Peng Chairman & Chief Executive Officer
Fu Jen Ko President, Chief Operating Officer & Director
Yue Chih Tseng Head-Finance & Accounting, Spokesman, Deputy GM
Mei Yueh Ho Independent Director
Chin Pin Peng Independent Director
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