Commission File Number
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001-31335
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AU Optronics Corp.
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(Translation of registrant’s name into English)
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No. 1 Li-Hsin Road 2
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Hsinchu Science Park
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Hsinchu, Taiwan
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(Address of principal executive offices)
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Form 20-F X Form 40-F ___
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Yes ..... No ..X...
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1.
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Press release entitled, “AU Optronics Corp. Reports Net Profit of NT$4,253 million for Fiscal Year 2013” dated January 27, 2014.
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2.
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Investor Conference Materials entitled, “AU Optronics Corp. Fourth Quarter 2013 Results”, dated January 27, 2014.
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Ÿ
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Revenues of NT$102,703 million, down 4.1% quarter-over-quarter
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Ÿ
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Net profit of NT$1,081 million
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Ÿ
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Basic EPS of NT$0.10(3)
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Ÿ
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Gross margin was 7.5%
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Ÿ
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Operating margin was 1.0%
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Ÿ
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EBITDA(4) margin was 16.0%
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Ÿ
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Revenues of NT$416,363 million, up 10.0% year-over-year
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Ÿ
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Net profit of NT$4,253 million
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Ÿ
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Basic EPS of NT$0.45(3)
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Ÿ
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Gross margin was 8.2%
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Ÿ
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Operating margin was 2.0%
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Ÿ
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EBITDA(4) margin was 17.3%
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(1)
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All financial information was unaudited and was prepared by the Company in accordance with Taiwan IFRS.
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(2)
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Amounts converted by an exchange rate of NTD29.83:USD1 based on Federal Reserve Bank of New York, USA as of December 31, 2013.
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(3)
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AUO issued new ADSs in May 2013. Basic EPS in both the fourth quarter and the fiscal year of 2013 were calculated based on the weighted average outstanding shares of the fiscal year of 2013 (9,349 million shares).
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(4)
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EBITDA = Operating Income + D&A, that is, operating income before depreciation and amortization.
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(5)
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Large size refers to panels that are 10 inches and above in diagonal measurement while small and medium size refers to those below 10 inches.
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(6)
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Based on the available market research information as of January 27, 2014.
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Gwen Ting
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Jessie Lee
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Corporate Communications Division
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Corporate Communications Division
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AU Optronics Corp.
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AU Optronics Corp.
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Tel: +886-3-5008800 ext 7259
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Tel: +886-3-5008800 ext 3206
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Fax: +886-3-5772730
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Fax: +886-3-5772730
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Email: gwen.ting@auo.com
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Email : jessie.jc.lee@auo.com
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AU Optronics Corp. Fourth Quarter 2013 Results Investor Conference Jan. 27, 2014 AUO Proprietary and Confidential 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 accounting principles generally accepted in the Republic of China ("ROC GAAP"), the United States of America ("US GAAP"), and IFRS including to the extent that any new or amended standards or interpretations applicable under IFRS may not be timely endorsed by the FSC. We have historically presented our consolidated financial statements in accordance with ROC GAAP, including our consolidated financial statements for the year ended December 31, 2012. Consequently, the selected comparison financial information to be included in our quarterly earning releases in 2013 may differ materially from those released historically. 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. Additional information as to these and other factors that may cause actual results to differ materially from AU Optronics' forward-looking statements or some of the major differences between ROC GAAP and US GAAP, IFRS or Taiwan IFRS can be found in AU Optronics' Annual Report on Form 20-F with respect to the year ended December, 2012 filed with the United States Securities and Exchange Commission. 2 AUO Proprietary and Confidential |
Statement of Comprehensive Income Selected Items form Statement of Comprehensive Income Amount : NT$ Million ---------- ------- ---------- ------- -------- --------- ------- 4Q'13 3Q'13 QoQ % 4Q'12 ---------- ------- ---------- ------- -------- --------- ------- Net Sales 102,703 100.0% 107,081 100.0% (4.1%) 99,400 100.0% Cost of Goods Sold (95,048) (92.5%) (96,815) (90.4%) (1.8%) (97,769) (98.4%) ========== ======= ========== ======= ======== ========= ======= Gross Profit 7,656 7.5% 10,266 9.6% (25.4%) 1,631 1.6% Operating Expenses (6,581) (6.4%) (6,892) (6.4%) (4.5%) (6,577) (6.6%) ========== ======= ========== ======= ======== ========= ======= Operating Profit (Loss) 1,075 1.0% 3,374 3.2% (68.1%) (4,945) (5.0%) Net Non-operating Income (Expenses) 471 0.5% (623) (0.6%) [] (7,967) (8.0%) ========== ======= ========== ======= ======== ========= ======= Profit (Loss) before Tax 1,546 1.5% 2,750 2.6% (43.8%) (12,912) (13.0%) ========== ======= ========== ======= ======== ========= ======= Net Profit (Loss) 1,081 1.1% 2,510 2.3% (56.9%) (12,954) (13.0%) ========== ======= ========== ======= ======== ========= ======= Attributable to: Owners of Company 940 0.9% 2,490 2.3% (62.2%) (12,258) (12.3%) Non-controlling Interests 141 0.1% 20 0.0% 604.2% (697) (0.7%) ========== ======= ========== ======= ======== ========= ======= Net Profit (Loss) 1,081 1.1% 2,510 2.3% (56.9%) (12,954) (13.0%) ========== ======= ========== ======= ======== ========= ======= Basic EPS (NT$)(a) 0.10 0.27 (62.2%) (1.39) Operating Income + DandA 16,383 16.0% 18,862 17.6% (13.1%) 12,325 12.4% Display Segment Information: Net Sales 97,162 100.0% 102,748 100.0% (5.4%) 97,185 100.0% Operating Income (Loss) 1,878 1.9% 4,218 4.1% (55.5%) (3,276) (3.4%) Operating Income + DandA 16,175 16.6% 18,710 18.2% (13.5%) 12,822 13.2% Unit Shipments (mn)(b) Large Size Panels 30.2 29.3 2.8% 31.0 Small and Medium Size Panels 41.2 44.1 (6.6%) 37.6 -- Unaudited, prepared by AUO based on Taiwan IFRS (a) AUO issued new ADSs in May 2013. Basic EPS in both 4Q'13 and 3Q'13 were calculated based on the weighted average outstanding shares of 2013 (9,349 m shares); Basic EPS in 4Q'12 was calculated based on the weighted average outstanding shares of the reporting quarter (8,827m shares). (b) Large size refers to panels that are 10 inches and above 3 AUO Proprietary and Confidential Statement of Comprehensive Income Selected Items form Statement of Comprehensive Income Amount : NT$ Million Except Per Share Data FY 2013 FY 2012 YoY % ----------- ------- ----------- -------- -------- Net Sales 416,363 100.0% 378,471 100.0% 10.0% Cost of Goods Sold (382,379) (91.8%) (391,594) (103.5%) (2.4%) =========== ======= =========== ======== ======== Gross Profit (Loss) 33,984 8.2% (13,123) (3.5%) [] Operating Expenses (25,692) (6.2%) (25,485) (6.7%) 0.8% =========== ======= =========== ======== ======== Operating Profit (Loss) 8,293 2.0% (38,608) (10.2%) [] Net Non-operating Expenses (3,056) (0.7%) (16,834) (4.4%) (81.8%) =========== ======= =========== ======== ======== Profit (Loss) before Tax 5,236 1.3% (55,443) (14.6%) [] =========== ======= =========== ======== ======== Net Profit (Loss) 4,253 1.0% (56,039) (14.8%) [] =========== ======= =========== ======== ======== Attributable to: Equity holders of the parent company 4,180 1.0% (54,748) (14.5%) [] Minority interest 73 0.0% (1,291) (0.3%) [] =========== ======= =========== ======== ======== Net Profit (Loss) 4,253 1.0% (56,039) (14.8%) [] =========== ======= =========== ======== ======== Basic EPS (NT$)(a) 0.45 (6.20) [] Operating Income + DandA 71,930 17.3% 36,668 9.7% 96.2% ROE(b) 2.7% (31.1%) [] Display Segment Information: Net Sales 398,836 100.0% 367,120 100.0% 8.6% Operating Income (Loss) 12,018 3.0% (30,331) (8.3%) [] Operating Income + DandA 71,668 18.0% 40,322 11.0% 77.7% Unit Shipments (mn)(c) Large Size Panels 117.0 123.2 (5.1%) Small and Medium Size Panels 152.5 154.5 (1.3%) -- Unaudited, prepared by AUO based on Taiwan IFRS (a) AUO issued new ADSs in May 2013. Basic EPS was calculated based on the weighted average outstanding shares of 9,349 m shares in 2013 and 8,827 m shares in 2012. (b) Large size refers to panels that are 10 inches and above 4 AUO Proprietary and Confidential |
Consolidated Balance Sheet Highlights Amount : NT$ Million 4Q'13 3Q'13 QoQ % 4Q'12 ------- ------- -------- -------- Cash and S T Investment(a)) 76,312 69,975 9.1% 76,656 Inv entory 37,598 41,511 (9.4%) 42,586 Short Term Debt(b)) 66,220 56,828 16.5% 54,111 Long Term Debt 118,488 137,193 (13.6%) 169,016 Equity 178,346 176,478 1.1% 161,517 Total Assets 492,243 504,372 (2.4%) 542,416 Inventory Turnover (Days)(c) 38 39 42 Net Debt to Equity(d)) 60.8% 70.3% 90.7% -- Unaudited, prepared by AUO based on Taiwan IFRS (a) Excluding time deposit with maturity longer than 3 months (NT$ 2,121m in 4Q'13 , NT$ 2,708m in 3Q'13 , and NT$770m in 4Q'12) (b) Short term debt refers to all interest bearing debt maturing within one year (c) Calculated by dividing the average inventory into the annualized cost of goods sold during such period, then multiplying by 365 days (d) Calculated by adding S-T debt and L-T debt, subtracting cash and S-T investment, then dividing total equity 5 AUO Proprietary and Confidential Consolidated Cash Flow Highlights Am ount : NT$ Million 4Q'13 3Q'13 QoQ --------- --------- -------- From Operating Activities 19,364 12,787 6,577 Gain before Tax 1,546 2,750 (1,205) Depreciation and Amortization 15,308 15,488 (180) Net Change in Working Capital 2,997 (4,799) 7,796 =================================== ========= ========= ======== From Investing Activities (4,265) (7,114) 2,849 Capital Expenditure (5,352) (6,594) 1,242 =================================== ========= ========= ======== From Financing Activities (8,885) (13,325) 4,440 Net Cha ng e in Debt (9,005) (13,185) 4,180 =================================== ========= ========= ======== Net Change in Cash(a) 6,338 (7,678) 14,016 -- Unaudited, prepared by AUO based on Taiwan IFRS (a) In addition to cash generated from operating, investing and financing activities, net change in cash also included effect on currency exchange of foreign subsidiaries |
Consolidated Revenues by Application [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS -- CP: Consumer products -- Mobile PC : Include Notebook/Tablet 7 Sales Breakdown by Size [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS 8 AUO Proprietary and Confidential |
Consolidated Shipments and ASP by Area [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS -- ASP per square meter in US$ was translated from NT$ based on average exchange rates announced by Directorate General of Customs, ROC Ministry of Finance of each respective quarter 9 AUO Proprietary Consolidated Small and Medium Panel Shipments by Area and Revenues [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS -- Small and Medium size refers to panels that are under 10 inches 10 AUO Proprietary and Confidential |
Quarterly Capacity by Area [GRAPHIC OMITTED] Appendix |
Statement of Comprehensive Income on Taiwan IFRS Selected Items form Statement of Comprehensive Income Amount : NT$ Million -------- -------- -------- -------- -------- ------- ------- ------- ------- ------- Q1'12 Q2'12 Q3'12 Q4'12 2012 Q1'13 Q2'13 Q3'13 Q4'13 2013 -------- -------- -------- -------- -------- ------- ------- ------- ------- ------- Net Sales 81,102 95,189 102,781 99,400 378,471 94,244 112,335 107,081 102,703 416,363 Cost of Goods Sold 88,471 99,301 106,053 97,769 391,594 89,696 100,820 96,815 95,048 382,379 Gross Profit (Loss) (7,370) (4,113) (3,272) 1,631 (13,123) 4,548 11,515 10,266 7,656 33,984 Operating Profit (Loss) (13,690) (10,620) (9,353) (4,945) (38,608) (1,361) 5,205 3,374 1,075 8,293 EBITDA 6,266 8,748 9,329 12,325 36,668 15,358 21,327 18,862 16,383 71,930 Income before tax (14,030) (12,092) (16,408) (12,912) (55,443) (3,205) 4,145 2,750 1,546 5,236 Net Profit (Loss) (13,782) (12,708) (16,595) (12,954) (56,039) (3,320) 3,982 2,510 1,081 4,253 Basic EPS (NT$) (1.54) (1.42) (1.86) (1.39) (6.20) (0.34) 0.42 0.27 0.10 0.45 Gross Margin -9.1% -4.3% -3.2% 1.6% -3.5% 4.8% 10.3% 9.6% 7.5% 8.2% Operating Margin -16.9% -11.2% -9.1% -5.0% -10.2% -1.4% 4.6% 3.2% 1.0% 2.0% EBITDA Margin 7.7% 9.2% 9.1% 12.4% 9.7% 16.3% 19.0% 17.6% 16.0% 17.3% -- Unaudited, prepared by AUO based on Taiwan IFRS 13 AUO Proprietary and Confidential www.auo.com ir@auo.com |
December 31, 2013 |
December 31, 2012
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YoY
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||||||||||||||||||||||||||
ASSETS
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USD
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NTD
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%
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NTD
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%
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Change
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%
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|||||||||||||||||||||
Cash and Cash Equivalents
|
2,558 | 76,312 | 15.5 | 76,656 | 14.1 | (343 | ) | (0.4 | ) | |||||||||||||||||||
Notes & Accounts Receivables
|
1,466 | 43,727 | 8.9 | 42,640 | 7.9 | 1,087 | 2.6 | |||||||||||||||||||||
Other Current Financial Assets
|
230 | 6,849 | 1.4 | 2,409 | 0.4 | 4,440 | 184.3 | |||||||||||||||||||||
Inventories
|
1,260 | 37,598 | 7.6 | 42,586 | 7.9 | (4,988 | ) | (11.7 | ) | |||||||||||||||||||
Other Current Assets
|
172 | 5,118 | 1.0 | 9,782 | 1.8 | (4,664 | ) | (47.7 | ) | |||||||||||||||||||
Total Current Assets
|
5,686 | 169,604 | 34.5 | 174,072 | 32.1 | (4,468 | ) | (2.6 | ) | |||||||||||||||||||
Long-term Investments
|
471 | 14,055 | 2.9 | 15,396 | 2.8 | (1,342 | ) | (8.7 | ) | |||||||||||||||||||
Net Fixed Assets
|
9,060 | 270,269 | 54.9 | 315,518 | 58.2 | (45,249 | ) | (14.3 | ) | |||||||||||||||||||
Other Assets
|
1,284 | 38,315 | 7.8 | 37,430 | 6.9 | 886 | 2.4 | |||||||||||||||||||||
Total Assets
|
16,502 | 492,243 | 100.0 | 542,416 | 100.0 | (50,174 | ) | (9.3 | ) | |||||||||||||||||||
LIABILITIES
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||||||||||||||||||||||||||||
Short-term Borrowings
|
116 | 3,457 | 0.7 | 8,620 | 1.6 | (5,163 | ) | (59.9 | ) | |||||||||||||||||||
Accounts Payable
|
2,629 | 78,434 | 15.9 | 81,587 | 15.0 | (3,153 | ) | (3.9 | ) | |||||||||||||||||||
Current Installments of Long-term Borrowings
|
2,104 | 62,763 | 12.8 | 45,491 | 8.4 | 17,272 | 38.0 | |||||||||||||||||||||
Current Financial Liabilities
|
14 | 421 | 0.1 | 804 | 0.1 | (383 | ) | (47.7 | ) | |||||||||||||||||||
Accrued Expense & Other Current Liabilities
|
953 | 28,420 | 5.8 | 41,123 | 7.6 | (12,703 | ) | (30.9 | ) | |||||||||||||||||||
Machinery and Equipment Payable
|
250 | 7,468 | 1.5 | 14,598 | 2.7 | (7,129 | ) | (48.8 | ) | |||||||||||||||||||
Total Current Liabilities
|
6,066 | 180,962 | 36.8 | 192,222 | 35.4 | (11,259 | ) | (5.9 | ) | |||||||||||||||||||
Long-term Borrowings
|
3,318 | 98,974 | 20.1 | 147,418 | 27.2 | (48,444 | ) | (32.9 | ) | |||||||||||||||||||
Bonds Payable
|
654 | 19,514 | 4.0 | 21,598 | 4.0 | (2,084 | ) | (9.7 | ) | |||||||||||||||||||
Non Current Financial Liabilities
|
1 | 17 | 0.0 | 113 | 0.0 | (95 | ) | (84.8 | ) | |||||||||||||||||||
Other Long-term Liabilities
|
484 | 14,430 | 2.9 | 19,549 | 3.6 | (5,120 | ) | (26.2 | ) | |||||||||||||||||||
Total Long-term Liabilities
|
4,456 | 132,935 | 27.0 | 188,678 | 34.8 | (55,743 | ) | (29.5 | ) | |||||||||||||||||||
Total Liabilities
|
10,523 | 313,897 | 63.8 | 380,900 | 70.2 | (67,003 | ) | (17.6 | ) | |||||||||||||||||||
EQUITY
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Common Stock
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3,226 | 96,242 | 19.6 | 88,270 | 16.3 | 7,972 | 9.0 | |||||||||||||||||||||
Capital Surplus
|
2,028 | 60,503 | 12.3 | 112,516 | 20.7 | (52,013 | ) | (46.2 | ) | |||||||||||||||||||
Retained Earnings
|
135 | 4,017 | 0.8 | (54,671 | ) | (10.1 | ) | 58,689 | ||||||||||||||||||||
Other Equity
|
119 | 3,546 | 0.7 | 1,339 | 0.2 | 2,208 | 164.9 | |||||||||||||||||||||
Non-Controlling Interests
|
471 | 14,037 | 2.9 | 14,063 | 2.6 | (26 | ) | (0.2 | ) | |||||||||||||||||||
Total Equity
|
5,979 | 178,346 | 36.2 | 161,517 | 29.8 | 16,829 | 10.4 | |||||||||||||||||||||
Total Liabilities & Equity
|
16,502 | 492,243 | 100.0 | 542,416 | 100.0 | (50,174 | ) | (9.3 | ) |
Year over Year Comparison |
Sequential Comparison
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|||||||||||||||||||||||||||||||||||||||
4Q 2013 |
% of
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4Q 2012 |
YoY
|
4Q 2013 |
% of
|
3Q 2013 |
QoQ
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|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales
|
NTD
|
Chg %
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USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
|||||||||||||||||||||||||||||||
Net Sales
|
3,443 | 102,703 | 100.0 | 99,400 | 3.3 | 3,443 | 102,703 | 100.0 | 107,081 | (4.1 | ) | |||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,186 | 95,048 | 92.5 | 97,769 | (2.8 | ) | 3,186 | 95,048 | 92.5 | 96,815 | (1.8 | ) | ||||||||||||||||||||||||||||
Gross Profit
|
257 | 7,656 | 7.5 | 1,631 | 369.3 | 257 | 7,656 | 7.5 | 10,266 | (25.4 | ) | |||||||||||||||||||||||||||||
Operating Expenses
|
221 | 6,581 | 6.4 | 6,577 | 0.1 | 221 | 6,581 | 6.4 | 6,892 | (4.5 | ) | |||||||||||||||||||||||||||||
Operating Profit (Loss)
|
36 | 1,075 | 1.0 | (4,945 | ) | 36 | 1,075 | 1.0 | 3,374 | (68.1 | ) | |||||||||||||||||||||||||||||
Net Non-Operating Income (Expense)
|
16 | 471 | 0.5 | (7,967 | ) | 16 | 471 | 0.5 | (623 | ) | ||||||||||||||||||||||||||||||
Profit (Loss) before Income Tax
|
52 | 1,546 | 1.5 | (12,912 | ) | 52 | 1,546 | 1.5 | 2,750 | (43.8 | ) | |||||||||||||||||||||||||||||
Income Tax Expense
|
(16 | ) | (464 | ) | (0.5 | ) | (42 | ) | 1,000.7 | (16 | ) | (464 | ) | (0.5 | ) | (240 | ) | 93.1 | ||||||||||||||||||||||
Net Profit (Loss)
|
36 | 1,081 | 1.1 | (12,954 | ) | 36 | 1,081 | 1.1 | 2,510 | (56.9 | ) | |||||||||||||||||||||||||||||
Other Comprehensive Income (Loss)
|
26 | 781 | 0.8 | (53 | ) | 26 | 781 | 0.8 | (567 | ) | ||||||||||||||||||||||||||||||
Total Comprehensive Income (Loss)
|
62 | 1,862 | 1.8 | (13,008 | ) | 62 | 1,862 | 1.8 | 1,943 | (4.1 | ) | |||||||||||||||||||||||||||||
Net Profit (Loss) Attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Owners of Company
|
32 | 940 | 0.9 | (12,258 | ) | 32 | 940 | 0.9 | 2,490 | (62.2 | ) | |||||||||||||||||||||||||||||
Non-controlling Interests
|
5 | 141 | 0.1 | (697 | ) | 5 | 141 | 0.1 | 20 | 604.2 | ||||||||||||||||||||||||||||||
Net Profit (Loss)
|
36 | 1,081 | 1.1 | (12,954 | ) | 36 | 1,081 | 1.1 | 2,510 | (56.9 | ) | |||||||||||||||||||||||||||||
Total Comprehensive Income (Loss) Attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Owners of Company
|
53 | 1,582 | 1.5 | (12,308 | ) | 53 | 1,582 | 1.5 | 2,015 | (21.5 | ) | |||||||||||||||||||||||||||||
Non-controlling Interests
|
9 | 281 | 0.3 | (700 | ) | 9 | 281 | 0.3 | (73 | ) | ||||||||||||||||||||||||||||||
Total Comprehensive Income (Loss)
|
62 | 1,862 | 1.8 | (13,008 | ) | 62 | 1,862 | 1.8 | 1,943 | (4.1 | ) | |||||||||||||||||||||||||||||
Basic Earnings Per Share
|
0.00 | 0.10 | (1.39 | ) | 0.00 | 0.10 | 0.27 | |||||||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
0.03 | 1.01 | (13.89 | ) | 0.03 | 1.01 | 2.66 | |||||||||||||||||||||||||||||||||
Weighted-Average Shares Outstanding ('M)
|
9,349 | 8,827 | 9,349 | 9,349 |
Year over Year Comparison | ||||||||||||||||||||
2013
|
% of
|
2012
|
YoY
|
|||||||||||||||||
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
||||||||||||||||
Net Sales
|
13,958 | 416,363 | 100.0 | 378,471 | 10.0 | |||||||||||||||
Cost of Goods Sold
|
12,819 | 382,379 | 91.8 | 391,594 | (2.4 | ) | ||||||||||||||
Gross Profit (Loss)
|
1,139 | 33,984 | 8.2 | (13,123 | ) | |||||||||||||||
Operating Expenses
|
861 | 25,692 | 6.2 | 25,485 | 0.8 | |||||||||||||||
Operating Profit (Loss)
|
278 | 8,293 | 2.0 | (38,608 | ) | |||||||||||||||
Net Non-Operating Expenses
|
(102 | ) | (3,056 | ) | (0.7 | ) | (16,834 | ) | (81.8 | ) | ||||||||||
Profit (Loss) before Income Tax
|
176 | 5,236 | 1.3 | (55,443 | ) | |||||||||||||||
Income Tax Expense
|
(33 | ) | (983 | ) | (0.2 | ) | (596 | ) | 64.9 | |||||||||||
Net Profit (Loss)
|
143 | 4,253 | 1.0 | (56,039 | ) | |||||||||||||||
Other Comprehensive Income (Loss)
|
87 | 2,610 | 0.6 | (1,344 | ) | |||||||||||||||
Total Comprehensive Income (Loss)
|
230 | 6,863 | 1.6 | (57,383 | ) | |||||||||||||||
Net Profit (Loss) Attributable to:
|
||||||||||||||||||||
Owners of Company
|
140 | 4,180 | 1.0 | (54,748 | ) | |||||||||||||||
Non-controlling Interests
|
2 | 73 | 0.0 | (1,291 | ) | |||||||||||||||
Net Profit (Loss)
|
143 | 4,253 | 1.0 | (56,039 | ) | |||||||||||||||
Total Comprehensive Income (Loss) Attributable to:
|
||||||||||||||||||||
Owners of Company
|
213 | 6,355 | 1.5 | (55,933 | ) | |||||||||||||||
Non-controlling Interests
|
17 | 508 | 0.1 | (1,450 | ) | |||||||||||||||
Total Comprehensive Income (Loss)
|
230 | 6,863 | 1.6 | (57,383 | ) | |||||||||||||||
Basic Earnings Per Share
|
0.01 | 0.45 | (6.20 | ) | ||||||||||||||||
Basic Earnings Per ADR(3)
|
0.15 | 4.47 | (62.02 | ) | ||||||||||||||||
Weighted-Average Shares Outstanding ('M)
|
9,349 | 8,827 |
2013 |
2012
|
|||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Profit(Loss) before Income Taxes
|
176 | 5,236 | (55,443 | ) | ||||||||
Depreciation & Amortization
|
2,133 | 63,638 | 75,276 | |||||||||
Investment Loss under Equity Method
|
(15 | ) | (454 | ) | (319 | ) | ||||||
Changes in Working Capital
|
(621 | ) | (18,516 | ) | 13,998 | |||||||
Changes in Others
|
(9 | ) | (261 | ) | 2,245 | |||||||
Net Cash Provided by Operating Activities
|
1,664 | 49,642 | 35,758 | |||||||||
Cash Flow from Investing Activities:
|
||||||||||||
Proceeds from Disposal of AFS Investments
|
21 | 625 | 291 | |||||||||
Acquisition of Property, Plant and Equipment
|
(853 | ) | (25,458 | ) | (43,333 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
20 | 587 | 82 | |||||||||
Acquisition of Equity-Accounted Investees and Financial assets carried at cost
|
(7 | ) | (210 | ) | (240 | ) | ||||||
Proceeds from Disposal of Equity-Accounted Investees and Financial assets carried at cost
|
94 | 2,793 | 589 | |||||||||
Decrease(Increase) in Other Financial Assets
|
6 | 193 | (232 | ) | ||||||||
Increase in Intangible Assets
|
(55 | ) | (1,654 | ) | (445 | ) | ||||||
Decrease(Increase) in Other Assets
|
(3 | ) | (100 | ) | 106 | |||||||
Net Cash Used in Investing Activities
|
(779 | ) | (23,224 | ) | (43,182 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Decrease in Short-term Borrowings
|
(173 | ) | (5,163 | ) | (580 | ) | ||||||
Decrease in Guarantee Deposits
|
(5 | ) | (146 | ) | (24 | ) | ||||||
Decrease in Long-term Borrowings and Bonds Payable
|
(1,069 | ) | (31,896 | ) | (4,393 | ) | ||||||
Issuance of Common Stock for Cash
|
345 | 10,281 | 0 | |||||||||
Issuance of Stocks to Non-Controlling Interests and Others
|
5 | 139 | (944 | ) | ||||||||
Net Cash Used by Financing Activities
|
(898 | ) | (26,785 | ) | (5,940 | ) | ||||||
Effect of Exchange Rate Changes on Cash
|
1 | 23 | (34 | ) | ||||||||
Net Decrease in Cash and Cash Equivalents
|
(12 | ) | (343 | ) | (13,398 | ) | ||||||
Cash and Cash Equivalents at Beginning of Period
|
2,570 | 76,656 | 90,053 | |||||||||
Cash and Cash Equivalents at End of Period
|
2,558 | 76,312 | 76,656 |
AU Optronics Corp.
|
|||
Date: January 27, 2014
|
By:
|
/s/ Andy Yang
|
|
Name:
|
Andy Yang
|
||
Title:
|
Chief Financial Officer
|