6-K 1 dp81958_6k.htm FORM 6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Private Issuer

 

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

 

October 26, 2017

 

Commission File Number 001-31335
   

 

AU Optronics Corp.
(Translation of registrant’s name into English)
 
No. 1 Li-Hsin Road 2
Hsinchu Science Park
Hsinchu, Taiwan
(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F      X       Form 40-F           

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

____

 

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

____

 

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes .........   No ...X...

 

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

 

Not applicable

 

 
 

 

INDEX TO EXHIBITS

 

Item

 

1.Taiwan Stock Exchange filing entitled, “AU Optronics Corp. Reports Third Quarter 2017 Financial Results in an investor conference” dated October 26, 2017.

 

2.Taiwan Stock Exchange filing entitled, “AU Optronics Corp. Third Quarter 2017 Results” dated October 26, 2017.

 

3.AU Optronics Corp. cumulative 6 month income statement ended June 30, 2017.

 

 
 

 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  AU Optronics Corp.
   
   
Date: October 26, 2017 By: /s/ Benjamin Tseng
    Name: Benjamin Tseng
    Title: Chief Financial Officer

 

 

 

 

Item 1

 

 

News Release

 

 

AU Optronics Reports NT$8.86 Billion Net Profit Attributable to Owners of the Company for Third Quarter 2017

 

Issued by: AU Optronics Corp.
Issued on: October 26, 2017

 

Hsinchu, Taiwan, October 26, 2017–

 

AU Optronics Corp. ("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:

 

ŸRevenues of NT$87.40 billion

 

ŸOperating profit of NT$9.74 billion

 

ŸNet profit attributable to owners of the Company at NT$8.86 billion

 

ŸBasic EPS(2) of NT$0.92

 

ŸGross margin was 17.5%

 

ŸOperating margin was 11.1%

 

ŸEBITDA(4) margin was 21.1%

 

ŸOperating margin of Display Segment was 11.8%

 

ŸEBITDA(4) margin of Display Segment was 21.9%

 

 

1/3 

 

News Release

 

 

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.

 

###

 

ABOUT AU OPTRONICS

 

AU Optronics Corp. (AUO) is one of the world’s leading providers of optoelectronic solutions. AUO offers a full range of panel sizes and comprehensive applications ranging from 1.2 inches to 85 inches. Based on its profound R&D and manufacturing experience, AUO continues to develop advanced display technologies of the next generation. AUO extended its market to the green energy industry in 2008 and provides its customers with high-efficiency solar solutions. AUO currently has global operations in Taiwan, Mainland China, the U.S., Japan, South Korea, Singapore, the Netherlands, Czech and Slovakia. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO has also been named to Dow Jones Sustainability World Index from 2010 to 2017. AUO’s consolidated net revenues in 2016 were NT$329.09 billion. For more information, please visit AUO.com.

 

2/3 

 
News Release

 

 

Safe Harbour Notice

 

AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release include “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on March 30, 2017. In addition, our SEC reports, including our Annual Report on Form 20-F contains other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. We undertake no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

 

For more information, please contact:

 

Gwen Ting   Jessie Lee
Corporate Communications Division   Corporate Communications Division
AU Optronics Corp.   AU Optronics Corp.
Tel: +886-3-5008800 ext 7259   Tel: +886-3-5008800 ext 3206
Fax: +886-3-5772730   Fax: +886-3-5772730
Email: gwen.ting@auo.com   Email : jessie.jc.lee@auo.com

 

 

3/3 

 

 

Item 2

 

 

 

 

 

 

AU Optronics Corp.

 

Third Quarter 2017 Results Investor Conference

 

 

2017

 

Oct. 26, 2017

 

 

 

 

 

Safe Harbor Notice

 

•The statements included in this presentation that are not historical in nature are “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements, which may include statements regarding AU Optronics’ future results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on AU Optronics’ current expectations.

 

•Actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our ability to successfully expand our capacity; our dependence on key personnel; general economic and political conditions, including those related to the TFT-LCD industry; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates.

 

•Beginning on January 1, 2013, we have adopted the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) to the extent endorsed by the ROC Financial Supervisory Commission (“FSC”) (“Taiwan IFRS”) for reporting our annual and interim consolidated financial statements in the ROC in accordance with the requirements of the FSC. All financial information contained herewithin is presented in conformity with Taiwan IFRS. Readers should be cautioned that Taiwan IFRS differs in many material respects from IFRS including to the extent that any new or amended standards or interpretations applicable under IFRS may not be timely endorsed by the FSC.

 

•Our release of financial forecasts and forward-looking statements at any particular time does not create any duty of disclosure beyond that which is imposed by law, and we expressly disclaim any obligation to publicly update or revise any forecasts or forward-looking statements, whether as a result of new information, future events or otherwise.

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 2

 

 

 

 

Statement of Comprehensive Income

 

Selected Items from Statement of Comprehensive Income

 

Amount : NT$ Million                          
  3Q17     2Q17       QoQ %     3Q16    
                           
Net Sales 87,395 100.0% 84,412 100.0%   3.5%   86,017 100.0%  
Cost of Goods Sold (72,083) (82.5%) (67,292) (79.7%)   7.1%   (74,709) (86.9%)  
Gross Profit 15,313 17.5% 17,121 20.3%   (10.6%)   11,308 13.1%  
Operating Expenses (5,570) (6.4%) (5,445) (6.5%)   2.3%   (5,549) (6.5%)  
Operating Profit 9,743 11.1% 11,676 13.8%   (16.6%)   5,759 6.7%  
Net Non-operating Income(Expenses) 764 0.9% (32) (0.0%)     －   (340) (0.4%)  
Profit before Tax 10,507 12.0% 11,644 13.8%   (9.8%)   5,420 6.3%  
Net Profit 8,224 9.4% 8,946 10.6%   (8.1%)   4,616 5.4%  
Net Profit Attributable to Owners of Company 8,856 10.1% 9,830 11.6%   (9.9%)   4,898 5.7%  
Basic EPS (NT$)(a) 0.92   1.02     (9.8%)   0.51    
                       
                 
Operating Profit + D&A 18,455 21.1% 20,682 24.5% (10.8%) 15,400 17.9%  
                       
                           
Display Segment Information:                          
Net Sales 82,718 100.0% 79,914 100.0% 3.5% 80,614 100.0%  
Operating Profit 9,759 11.8% 11,804 14.8% (17.3%) 5,937 7.4%  
Operating Profit + D&A 18,076 21.9% 20,389 25.5% (11.3%) 15,120 18.8%  
                       
                           
Unit Shipments (mn)(b )                          
Large Size Panels 29.1   26.8   8.3% 29.3    
Small & Medium Size Panels 46.8   38.7   21.1% 38.0    
                           
a)Basic EPS in both 3Q17 and 2Q17 were calculated based on the weighted average outstanding shares of the first nine months of 2017 (9,624m shares); Basic EPS in 3Q16 was calculated based on the weighted average outstanding shares of 2016 (9,624m shares).

 

b)Large size refers to panels that are 10 inches and above

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 3

 

 

 

 

 

 

Consolidated Balance Sheet Highlights

 

Amount : NT$ Million                  
  3Q17   2Q17     QoQ %     3Q16    
Cash & ST Investment (a )                      
107,656 102,801   4.7%   74,053    
Inventory 25,021 25,540   (2.0%)   27,013    
Short Term Debt(b ) 21,073 19,032   10.7%   26,135    
Long Term Debt 101,996 105,676   (3.5%)   101,218    
Equity 220,317 211,145   4.3%   192,309    
Total Assets 449,239 441,143   1.8%   419,650    
                     
               
Inventory Turnover (Days)(c) 32 35       33    
Net Debt to Equity(d ) 7.0% 10.4%     27.7%    
a)Excluding time deposit with maturity longer than 3 months (NT$0m in 3Q17,2Q17 and 3Q16 )

 

b)Short term debt refers to all interest bearing debt maturing within one year

 

c)Calculated by dividing the average inventory into the annualized cost of goods sold during such period, then multiplying by 365 days

 

d)Net Debt to Equity = (Short Term Debt + Long Term Debt - Cash and ST Investment) / Equity

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 4

 

 

 

 

 

Consolidated Cash Flow Highlights

 

Amount : NT$ Million            
  3Q17   2Q17     QoQ
               
From Operating Activities 19,754 24,627   (4,873)  
Profit before Tax 10,507 11,644   (1,137)  
Depreciation & Amortization 8,712 9,006   (294)  
Net Change in Working Capital 569 3,955   (3,386)  
From Investing Activities (7,584) (8,750)   1,166  
Capital Expenditure (8,072) (8,264)   191  
From Financing Activities (7,421) 1,077   (8,498)  
Net Change in Debt (1,926) 1,088   (3,014)  
Net Change in Cash(a ) 4,855 17,317   (12,462)  
               
a)In addition to cash generated from operating, investing and financing activities, net change in cash also include effect on currency exchange of foreign subsidiaries

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 5  

 

 

 

 

 

Display Revenue Breakdown by Application

 

100%

 

80%

 

60%

 

40%

 

20%

 

0%

 

46% 48% 48% 49% 47%

 

15% 15% 16% 14% 13%  
     
17% 17% 17% 17% 18%  
     
5% 5% 5% 4% 4%  
     
17% 15% 14% 16% 18%  
           
3Q16 4Q16 1Q17 2Q17 3Q17  

TV

 

Monitor

 

Mobile PC

 

Mobile Device

 

Commercial

 

and Others

 

– Mobile PC : including Notebook and Tablet displays

 

– Mobile Device : including displays for mobile phones and other related products

 

– Commercial and Others: including displays for automobile, industrial PC, ATM, point of sale (POS), pachinko, and etc.

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 6

 

 

 

 

 

Display Revenue Breakdown by Size

 

100%

 

28% 27% 29% 31% 30%  
80%            
15% 17% 16% 15% 14%  
60%      
         
           
15% 16% 16 16% 15%  
     
         
40%            
26% 25% 24% 24% 26%  
     
20%            
16% 15% 15% 14% 15%  
0%            
           

IMAGE OMITTED >=50"

 

IMAGE OMITTED 39"<=size<50"

 

IMAGE OMITTED 20"<=size<39"

 

IMAGE OMITTED 10"<=size<20"

 

IMAGE OMITTED size<10"

 

3Q16 4Q16 1Q17 2Q17 3Q17
© 2017 AU Optronics Corporation – Proprietary and Confidential   7  

 

 

 

 

Consolidated Shipments & ASP by Area

 

Shipments in square meter

 

(K m2) 7,000

 

3,500 6,617 6,458     6,689  
  6,196 6,187  
         

0

 

3Q16 4Q16 1Q17 2Q17 3Q17

 

ASP per square meter

 

(US$)            
500            
    $413 $421 $415    
         
          $395  
400 $372          
300            
200            
  3Q16 4Q16 1Q17 2Q17 3Q17  

– ASP per square meter in US$ was translated from NT$ based on average exchange rates announced by Customs Administration, Ministry of Finance of each respective quarter

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 8

 

 

 

 

Consolidated Small & Medium Panel

 

Shipments by Area & Revenues

 

(K m2) Shipments in square meter  
   
450    

300

 

400.2

 

150 334.4 307.1 324.0 332.5  
       

0

 

3Q16 4Q16 1Q17 2Q17 3Q17

 

(NT$ bn)   Revenues      
         
20          
16          
12.6 12.6 12.2   12.0  
      11.1  
12        
         
8          
4          
0          
3Q16 4Q16 1Q17 2Q17 3Q17  

– Small & Medium size refers to panels that are under 10 inches

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 9

 

 

 

 

 

 

 

 

www.auo.com

 

ir@auo.com

 

 

 

 

 

© 2017 AU Optronics Corporation – Proprietary and Confidential 10  

 

 

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

 

Consolidated Condensed Statements of Comprehensive Income

 

For the Three Months Ended September 30, 2017 and 2016 and June 30, 2017

 

(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)

  

 

    Year over Year Comparison   Sequential Comparison
        3Q17       3Q16           3Q17       2Q17    
    USD   NTD   %   NTD   YoY%   USD   NTD   %   NTD   QoQ%
Net Sales   2,881   87,395   100.0   86,017   1.6   2,881   87,395   100.0   84,412   3.5
Cost of Goods Sold   2,377   72,083   82.5   74,709   (3.5)   2,377   72,083   82.5   67,292   7.1
Gross Profit   505   15,313   17.5   11,308   35.4   505   15,313   17.5   17,121   (10.6)
Operating Expenses   184   5,570   6.4   5,549   0.4   184   5,570   6.4   5,445   2.3
Operating Profit(Loss)   321   9,743   11.1   5,759   69.2   321   9,743   11.1   11,676   (16.6)
Net Non-operating Income(Expenses)   25   764   0.9   (340)   －   25   764   0.9   (32)   －
Profit(Loss) before Income Tax   346   10,507   12.0   5,420   93.9   346   10,507   12.0   11,644   (9.8)
Income Tax Expense   (75)   (2,283)   (2.6)   (804)   183.9   (75)   (2,283)   (2.6)   (2,698)   (15.4)
Net Profit(Loss)   271   8,224   9.4   4,616   78.2   271   8,224   9.4   8,946   (8.1)
Other Comprehensive Income(Loss)   31   946   1.1   (2,251)   －   31   946   1.1   2,023   (53.2)
Total Comprehensive Income(Loss)   302   9,170   10.5   2,365   287.8   302   9,170   10.5   10,969   (16.4)
Net Profit(Loss) Attributable to:                                        
Owners of Company   292   8,856   10.1   4,898   80.8   292   8,856   10.1   9,830   (9.9)
Non-Controlling Interests   (21)   (632)   (0.7)   (282)   123.8   (21)   (632)   (0.7)   (883)   (28.5)
Net Profit(Loss)   271   8,224   9.4   4,616   78.2   271   8,224   9.4   8,946   (8.1)
Total Comprehensive Income(Loss) Attributable to:                                        
Owners of Company   312   9,468   10.8   3,207   195.3   312   9,468   10.8   11,596   (18.4)
Non-Controlling Interests   (10)   (298)   (0.3)   (842)   (64.6)   (10)   (298)   (0.3)   (627)   (52.4)
Total Comprehensive Income(Loss)   302   9,170   10.5   2,365   287.8   302   9,170   10.5   10,969   (16.4)
Basic Earnings Per Share   0.03   0.92       0.51       0.03   0.92       1.02    
Basic Earnings Per ADS(2)   0.30   9.20       5.09       0.30   9.20       10.21    
Weighted-Average Shares Outstanding ('M)       9,624       9,624           9,624       9,624    

 

 

Note:(1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.33 per USD as of September 30, 2017

 

(2) 1 ADS equals 10 common shares

 

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

 

Consolidated Condensed Statements of Comprehensive Income

 

For the Period Ended September 30, 2017 and 2016

 

(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)

  

 

 

    Year over Year Comparison
    Nine Months 2017     Nine Months 2016
    USD   NTD   %   NTD   YoY%
Net Sales   8,584   260,365   100.0   237,243   9.7
Cost of Goods Sold   6,940   210,499   80.8   219,982   (4.3)
Gross Profit   1,644   49,866   19.2   17,262   188.9
Operating Expenses   542   16,430   6.3   16,484   (0.3)
Operating Profit(Loss)   1,102   33,436   12.8   778   4,197.5
Net Non-operating Income(Expenses)   22   664   0.3   (884)   －
Profit(Loss) before Income Tax   1,124   34,100   13.1   (106)   －
Income Tax Expense   (247)   (7,496)   (2.9)   (1,663)   350.8
Net Profit(Loss)   877   26,605   10.2   (1,768)   －
Other Comprehensive Income(Loss)   (16)   (485)   (0.2)   (5,294)   (90.8)
Total Comprehensive Income(Loss)   861   26,120   10.0   (7,062)   －
Net Profit(Loss) Attributable to:                    
Owners of Company   929   28,165   10.8   (1,152)   －
Non-Controlling Interests   (51)   (1,560)   (0.6)   (617)   152.9
Net Profit(Loss)   877   26,605   10.2   (1,768)   －
Total Comprehensive Income(Loss) Attributable to:                    
Owners of Company   923   27,980   10.7   (4,814)   －
Non-Controlling Interests   (61)   (1,861)   (0.7)   (2,248)   (17.2)
Total Comprehensive Income(Loss)   861   26,120   10.0   (7,062)   －
Basic Earnings Per Share   0.10   2.93       (0.12)    
Basic Earnings Per ADS(2)   0.96   29.26       (1.20)    
Weighted-Average Shares Outstanding ('M)       9,624       9,624    

 

 

Note:(1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.33 per USD as of September 30, 2017

 

(2) 1 ADS equals 10 common shares

 

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

 

Consolidated Condensed Balance Sheets

 

September 30, 2017 and 2016

 

(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)

  

 

 

    September 30, 2017   September 30, 2016   YoY
ASSETS   USD   NTD   %   NTD   %   NTD   %
Cash and Cash Equivalents   3,549   107,656   24.0   74,053   17.6   33,602   45.4
Notes & Accounts Receivables   1,593   48,327   10.8   43,339   10.3   4,989   11.5
Other Current Financial Assets   19   562   0.1   964   0.2   (403)   (41.8)
Inventories   825   25,021   5.6   27,013   6.4   (1,992)   (7.4)
Other Current Assets   242   7,353   1.6   6,568   1.6   784   11.9
Total Current Assets   6,229   188,918   42.1   151,938   36.2   36,980   24.3
Long-term Investments   314   9,511   2.1   7,902   1.9   1,609   20.4
Net Fixed Assets   7,159   217,139   48.3   213,187   50.8   3,953   1.9
Other Non-Current Assets   1,110   33,671   7.5   46,623   11.1   (12,952)   (27.8)
Total Non-Current Assets   8,583   260,321   57.9   267,712   63.8   (7,391)   (2.8)
Total Assets   14,812   449,239   100.0   419,650   100.0   29,589   7.1
LIABILITIES                            
Short-term Borrowings   97   2,947   0.7   1,393   0.3   1,555   111.6
Accounts Payable   1,860   56,419   12.6   59,187   14.1   (2,768)   (4.7)
Current Installments of Long-term Borrowings   598   18,126   4.0   24,742   5.9   (6,616)   (26.7)
Current Financial Liabilities   9   286   0.1   29   0.0   257   885.2
Accrued Expense & Other Current Liabilities   1,078   32,687   7.3   24,393   5.8   8,294   34.0
Machinery and Equipment Payable   336   10,182   2.3   9,034   2.2   1,147   12.7
Total Current Liabilities   3,978   120,648   26.9   118,779   28.3   1,869   1.6
Long-term Borrowings   3,363   101,996   22.7   101,218   24.1   778   0.8
Non-Current Financial Liabilities   0   0   0.0   5   0.0   (5)   (100.0)
Other Non-Current Liabilities   207   6,279   1.4   7,339   1.7   (1,060)   (14.4)
Total Non-Current Liabilities   3,570   108,275   24.1   108,562   25.9   (287)   (0.3)
Total Liabilities   7,548   228,923   51.0   227,340   54.2   1,582   0.7
EQUITY                            
Common Stock   3,173   96,242   21.4   96,242   22.9   0   0.0
Capital Surplus   1,979   60,024   13.4   59,976   14.3   48   0.1
Retained Earnings   1,550   47,016   10.5   15,459   3.7   31,557   204.1
Other Equity   20   594   0.1   1,423   0.3   (829)   (58.2)
Non-Controlling Interests   542   16,440   3.7   19,209   4.6   (2,769)   (14.4)
Total Equity   7,264   220,317   49.0   192,309   45.8   28,007   14.6
Total Liabilities & Equity   14,812   449,239   100.0   419,650   100.0   29,589   7.1

 

 

Note:(1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.33 per USD as of September 30, 2017

 

(2) Cash and Cash Equivalents excluding time deposit with maturity longer than 3 months

 

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

 

Consolidated Condensed Cash Flow Statements

 

For the Period Ended September 30, 2017 and 2016

 

(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD))

  

 

 

    Nine Months 2017   Nine Months 2016
    USD   NTD   NTD
Cash Flow from Operating Activities:            
Profit(Loss) before Income Taxes   1,124   34,100   (106)
Depreciation & Amortization   914   27,729   29,415
Share of Profit of Equity-Accounted Investees   (6)   (178)   (222)
Changes in Working Capital   14   414   (8,758)
Changes in Others   (13)   (400)   (1,543)
Net Cash Provided(Used) by Operating Activities   2,033   61,666   18,786
Cash Flow from Investing Activities:            
Proceeds from Disposal of AFS Investments   0   0   10
Acquisition of Property, Plant and Equipment   (867)   (26,289)   (37,883)
Proceeds from Disposal of Property, Plant and Equipment   35   1,067   741
Acquisition of Equity-Accounted Investees and Financial Assets Carried at Cost   (1)   (41)   (307)
Proceeds from Disposal of Equity-Accounted Investees and Financial Assets Carried at Cost   0   0   3,577
Decrease(Increase) in Other Financial Assets   (0)   (10)   (19)
Decrease(Increase) in Intangible Assets   (6)   (197)   (187)
Decrease(Increase) in Other Assets   (13)   (406)   (22)
Net Cash Provided(Used) in Investing Activities   (853)   (25,875)   (34,089)
Cash Flow from Financing Activities:            
Increase(Decrease) in Short-term Borrowings   80   2,421   (201)
Increase(Decrease) in Long-term Borrowings   (109)   (3,312)   18,391
Increase(Decrease) in Guarantee Deposits   (1)   (42)   (28)
Cash Dividends   (178)   (5,390)   (3,368)
Changes in Non-Controlling Interests and Others   (3)   (96)   (2,689)
Net Cash Provided(Used) by Financing Activities   (212)   (6,419)   12,105
Effect of Exchange Rate Changes on Cash   (63)   (1,908)   (1,629)
Net Increase(Decrease) in Cash and Cash Equivalents   906   27,465   (4,827)
Cash and Cash Equivalents at Beginning of Period   2,644   80,191   78,881
Cash and Cash Equivalents at End of Period   3,549   107,656   74,053

 

 

Note: (1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.33 per USD as of September 30, 2017

 

 

 

 

 

Item 3

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

 

Consolidated Condensed Statements of Comprehensive Income

 

For the Period Ended June 30, 2017 and 2016

 

(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)

  

 

     Year over Year Comparison  
         1H 2017         1H 2016      
    USD    NTD    %    NTD    YoY% 
Net Sales   5,694    172,969    100.0    151,226    14.4 
Cost of Goods Sold   4,556    138,416    80.0    145,272    (4.7)
Gross Profit   1,137    34,554    20.0    5,954    480.4 
Operating Expenses   357    10,860    6.3    10,935    (0.7)
Operating Profit(Loss)   780    23,693    13.7    (4,981)   － 
Net Non-operating Income(Expenses)   (3)   (100)   (0.1)   (544)   (81.7)
Profit(Loss) before Income Tax   777    23,594    13.6    (5,525)   － 
Income Tax Expense   (172)   (5,213)   (3.0)   (859)   507.0 
Net Profit(Loss)   605    18,381    10.6    (6,384)   － 
Other Comprehensive Income(Loss)   (47)   (1,431)   (0.8)   (3,043)   (53.0)
Total Comprehensive Income(Loss)   558    16,950    9.8    (9,427)   － 
Net Profit(Loss) Attributable to:                         
Owners of Company   636    19,309    11.2    (6,050)   － 
Non-Controlling Interests   (31)   (928)   (0.5)   (334)   177.6 
Net Profit(Loss)   605    18,381    10.6    (6,384)   － 
Total Comprehensive Income(Loss) Attributable to:                         
Owners of Company   609    18,513    10.7    (8,021)   － 
Non-Controlling Interests   (51)   (1,563)   (0.9)   (1,407)   11.1 
Total Comprehensive Income(Loss)   558    16,950    9.8    (9,427)   － 
Basic Earnings Per Share   0.07    2.01         (0.63)     
Basic Earnings Per ADS(2)   0.66    20.06         (6.29)     
Weighted-Average Shares Outstanding ('M)        9,624         9,624      

 

Note:(1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.38 per USD as of June 30, 2017

 

(2) 1 ADS equals 10 common shares