Business traction on 22nm continues to gain momentum, accounting for 14% of Q1 revenue
Expect Q2 wafer shipments to grow by high single digit
First Quarter 2026 Overview1:
- Revenue: NT$61.04 billion (US$1.93 billion)
- Gross margin: 29.2%; Operating margin: 18.5%
- Revenue from 22/28nm: 34%
- Capacity utilization rate: 79%
- Net income attributable to shareholders of the parent: NT$16.17 billion (US$511 million)
- Earnings per share: NT$1.29; earnings per ADS: US$0.204
United Microelectronics Corporation (NYSE:UMC, TWSE: 2303)) ("UMC" or "The Company"), a leading global semiconductor foundry, today announced its consolidated operating results for the first quarter of 2026.
First quarter consolidated revenue was NT$61.04 billion, decreasing 1.2% from NT$61.81 billion in 4Q25. Compared to a year ago, 1Q26 revenue increased 5.5%. Consolidated gross margin for 1Q26 was 29.2%. Net income attributable to the shareholders of the parent was NT$16.17 billion, with earnings per ordinary share of NT$1.29.
Jason Wang, CEO of UMC, said, "In the first quarter, our wafer shipments increased 2.7% quarter-on-quarter on strong growth in the consumer segment, lifting overall utilization rate to 79%. Despite a decline in blended average selling price during the quarter, which partly reflected higher 8-inch wafer shipments, gross margin held firm at 29.2%. Demand for our 22nm logic and specialty processes continues to gain momentum, with 22nm revenue reaching another record high and accounting for 14% of first-quarter revenue. By the end of this year, over 50 customers will have completed tape-outs on our 22nm platforms for a diverse range of applications, including display driver ICs, networking chips, and microcontrollers. We continue to invest in next-generation technologies – beyond 22nm, our 12nm collaboration with Intel will provide customers with technology continuity as well as a U.S.-based manufacturing option. UMC also recently announced important developments in emerging businesses, including a strategic partnership to deploy thin-film lithium niobate (TFLN) photonics for AI infrastructure."
CEO Wang added, "Going into the second quarter, we expect strong wafer shipment growth across both 8-inch and 12-inch portfolios, supported by a strong rebound in the communication segment as well as healthy demand across computer, consumer, and industrial markets. While the current memory supply shortage and the ongoing conflict in the Middle East are creating certain headwinds and market volatility, UMC continues to foresee resilient market demand. UMC will continue to monitor industry and macroeconomic developments closely while prudently managing our business to cope with market dynamics amid evolving semiconductor landscape changes."
CEO Wang said, "UMC's long-term commitment to corporate sustainability was once again recognized in S&P Global's annual Sustainability Yearbook. With only 848 out of 9,200 large corporations selected for the 2026 Yearbook, UMC was awarded the ‘Top 1%' highest ranking within the Semiconductor and Semiconductor Equipment sector. Last month, we also announced a MoU with Infineon to drive reduction of greenhouse gas emissions across our shared supply chain. With value chain (Scope 3) emissions the largest share of a company's total emissions, and also the most complex to address, collaboration with our partners is essential as we strive towards our goal of achieving net zero emissions by 2050. We are pleased to join forces with Infineon to accelerate decarbonization action among our common suppliers."
Summary of Operating Results
Operating Results |
|||||||||
(Amount: NT$ million) |
1Q26 |
|
4Q25 |
|
QoQ %
|
1Q25 |
|
YoY %
|
|
Operating Revenues |
61,038 |
|
61,810 |
|
(1.2 |
) |
57,859 |
|
5.5 |
Gross Profit |
17,818 |
|
18,958 |
|
(6.0 |
) |
15,447 |
|
15.4 |
Operating Expenses |
(7,099 |
) |
(7,384 |
) |
(3.9 |
) |
(6,123 |
) |
15.9 |
Net Other Operating Income and Expenses |
557 |
|
651 |
|
(14.5 |
) |
462 |
|
20.4 |
Operating Income |
11,276 |
|
12,225 |
|
(7.8 |
) |
9,786 |
|
15.2 |
Net Non-Operating Income and Expenses |
5,367 |
|
3,278 |
|
63.8 |
|
(439 |
) |
- |
Net Income Attributable to Shareholders of the Parent |
16,171 |
|
10,055 |
|
60.8 |
|
7,777 |
|
107.9 |
EPS (NT$ per share) |
1.29 |
|
0.81 |
|
|
0.62 |
|
|
|
(US$ per ADS) |
0.204 |
|
0.129 |
|
|
0.093 |
|
|
|
Exchange rate (USD/NTD) |
31.63 |
|
31.40 |
|
|
33.18 |
|
|
|
Note：Sums may not equal totals due to rounding. |
|
|
|
|
|
||||
First quarter operating revenues declined 1.2% sequentially to NT$61.04 billion. Revenue contribution from 40nm and below technologies represented 52% of wafer revenue. Gross profit declined 6.0% QoQ to NT$17.82 billion, or 29.2% of revenue. Operating expenses decreased 3.9% to NT$7.10 billion. Net other operating income decreased 14.5% to NT$0.56 billion. Net non-operating income totaled NT$5.37 billion. Net income attributable to shareholders of the parent amounted to NT$16.17 billion.
Earnings per ordinary share for the quarter was NT$1.29. Earnings per ADS was US$0.204. The basic weighted average number of shares outstanding in 1Q26 was 12,491,206,358, compared with 12,487,002,150 shares in 4Q25 and 12,484,780,989 shares in 1Q25. The diluted weighted average number of shares outstanding was 12,583,475,228 in 1Q26, compared with 12,594,788,681 shares in 4Q25 and 12,579,207,466 shares in 1Q25. The fully diluted shares counted on March 31, 2026 were approximately 12,583,475,000.
Detailed Financials Section
Operating revenues decreased to NT$61.04 billion. COGS increased 0.9% QoQ to NT$43.22 billion. Gross profit decreased 6.0% QoQ to NT$17.82 billion. Operating expenses decreased 3.9% QoQ to NT$7.10 billion, as R&D decreased 7.3% to NT$4.58 billion and G&A decreased 1.0% to NT$1.83 billion, while Sales & Marketing increased 15.8% to NT$0.69 billion. Net other operating income was NT$0.56 billion. In 1Q26, operating income decreased 7.8% QoQ to NT$11.28 billion.
COGS & Expenses |
||||||||||
(Amount: NT$ million) |
1Q26 |
|
4Q25 |
|
QoQ %
|
1Q25 |
|
YoY %
|
||
Operating Revenues |
61,038 |
|
61,810 |
|
(1.2 |
) |
57,859 |
|
5.5 |
|
COGS |
(43,219 |
) |
(42,851 |
) |
0.9 |
|
(42,412 |
) |
1.9 |
|
Depreciation |
(13,719 |
) |
(12,991 |
) |
5.6 |
|
(12,321 |
) |
11.3 |
|
Other Mfg. Costs |
(29,500 |
) |
(29,860 |
) |
(1.2 |
) |
(30,091 |
) |
(2.0 |
) |
Gross Profit |
17,818 |
|
18,958 |
|
(6.0 |
) |
15,447 |
|
15.4 |
|
Gross Margin (%) |
29.2 |
% |
30.7 |
% |
|
26.7 |
% |
|
||
Operating Expenses |
(7,099 |
) |
(7,384 |
) |
(3.9 |
) |
(6,123 |
) |
15.9 |
|
Sales & Marketing |
(689 |
) |
(595 |
) |
15.8 |
|
(619 |
) |
11.3 |
|
G&A |
(1,834 |
) |
(1,853 |
) |
(1.0 |
) |
(1,542 |
) |
18.9 |
|
R&D |
(4,575 |
) |
(4,937 |
) |
(7.3 |
) |
(3,964 |
) |
15.4 |
|
Expected Credit Impairment Gain |
0 |
|
0 |
|
2,150.0 |
|
2 |
|
(98.1 |
) |
Net Other Operating Income & Expenses |
557 |
|
651 |
|
(14.5 |
) |
462 |
|
20.4 |
|
Operating Income |
11,276 |
|
12,225 |
|
(7.8 |
) |
9,786 |
|
15.2 |
|
Note：Sums may not equal totals due to rounding. |
||||||||||
Net non-operating income in 1Q26 was NT$5.37 billion, primarily reflecting the NT$5.00 billion in net investment gain and the NT$0.30 billion in exchange gain.
Non-Operating Income and Expenses |
|||||
(Amount: NT$ million) |
1Q26 |
|
4Q25 |
1Q25 |
|
Non-Operating Income and Expenses |
5,367 |
|
3,278 |
(439 |
) |
Net Interest Income and Expenses |
88 |
|
134 |
219 |
|
Net Investment Gain and Loss |
4,997 |
|
2,812 |
(769 |
) |
Exchange Gain and Loss |
303 |
|
332 |
115 |
|
Other Gain and Loss |
(20 |
) |
0 |
(5 |
) |
Note：Sums may not equal totals due to rounding. |
|||||
In 1Q26, cash inflow from operating activities was NT$21.98 billion. Cash outflow from investing activities totaled NT$21.35 billion, including NT$13.16 billion in capital expenditures, resulting in free cash flow of NT$8.83 billion. Cash outflow from financing activities was NT$3.69 billion, primarily due to NT$3.04 billion in bank loans. Net cash outflow in 1Q26 amounted to NT$1.64 billion. Over the next 12 months, the company expects to repay NT$6.68 billion in bank loans.
Cash Flow Summary |
||||
(Amount: NT$ million) |
For the 3-Month Period Ended Mar. 31, 2026 |
For the 3-Month Period Ended Dec. 31, 2025 |
||
Cash Flow from Operating Activities |
21,981 |
|
33,003 |
|
Net income before tax |
16,644 |
|
15,503 |
|
Depreciation & Amortization |
15,987 |
|
15,630 |
|
Share of profit of associates and joint ventures |
(2,815 |
) |
(929 |
) |
Income tax paid |
(464 |
) |
(301 |
) |
Changes in working capital & others |
(7,370 |
) |
3,100 |
|
Cash Flow from Investing Activities |
(21,348 |
) |
(17,059 |
) |
Increase in financial assets measured at amortized cost |
(7,101 |
) |
(3,074 |
) |
Acquisition of PP&E |
(12,526 |
) |
(14,826 |
) |
Acquisition of investments accounted for under the equity method |
(643 |
) |
- |
|
Acquisition of intangible assets |
(681 |
) |
(667 |
) |
Others |
(397 |
) |
1,508 |
|
Cash Flow from Financing Activities |
(3,686 |
) |
(11,416 |
) |
Bank loans |
(3,039 |
) |
(20,885 |
) |
Bonds issued |
- |
|
9,800 |
|
Others |
(647 |
) |
(331 |
) |
Effect of Exchange Rate |
1,411 |
|
1,915 |
|
Net Cash Flow |
(1,641 |
) |
6,443 |
|
Beginning balance |
110,660 |
|
104,217 |
|
Ending balance |
109,019 |
|
110,660 |
|
Note：Sums may not equal totals due to rounding. |
||||
Cash and cash equivalents decreased to NT$109.02 billion. Days sales outstanding increased 3 days to 50 days, while days of inventory increased 3 day to 80 days.
Current Assets |
|||
(Amount: NT$ billion) |
1Q26 |
4Q25 |
1Q25 |
Cash and Cash Equivalents |
109.02 |
110.66 |
106.35 |
Accounts Receivable |
35.60 |
31.27 |
34.80 |
Days Sales Outstanding |
50 |
47 |
54 |
Inventories, net |
38.65 |
37.23 |
35.43 |
Days of Inventory |
80 |
77 |
77 |
Total Current Assets |
216.44 |
204.78 |
192.32 |
Current liabilities decreased to NT$79.61 billion. Long-term credit / bonds increased to NT$47.17 billion. Total liabilities decreased to NT$193.20 billion, while debt to equity ratio decreased to 47%.
Liabilities |
|||
(Amount: NT$ billion) |
1Q26 |
4Q25 |
1Q25 |
Total Current Liabilities |
79.61 |
87.60 |
72.87 |
Accounts Payable |
9.07 |
9.17 |
9.27 |
Short-Term Credit / Bonds |
22.89 |
27.60 |
17.63 |
Payables on Equipment |
7.98 |
11.68 |
8.46 |
Other |
39.67 |
39.15 |
37.51 |
Long-Term Credit / Bonds |
47.17 |
45.37 |
44.63 |
Total Liabilities |
193.20 |
199.14 |
182.13 |
Debt to Equity |
47% |
52% |
47% |
Analysis of Revenue2
Revenue from Asia Pacific increased to 65%, while business from North America remained at 21% of sales. Business from Europe decreased to 9%, while contribution from Japan increased to 5%.
Revenue Breakdown by Region |
|||||
Region |
1Q26 |
4Q25 |
3Q25 |
2Q25 |
1Q25 |
North America |
21% |
21% |
25% |
20% |
22% |
Asia Pacific |
65% |
64% |
63% |
67% |
66% |
Europe |
9% |
11% |
8% |
8% |
7% |
Japan |
5% |
4% |
4% |
5% |
5% |
Revenue contribution from 22/28nm decreased to 34% of wafer revenue, while 40nm contribution increased to 18% of sales.
Revenue Breakdown by Geometry |
|||||
Geometry |
1Q26 |
4Q25 |
3Q25 |
2Q25 |
1Q25 |
14nm and below |
0% |
0% |
0% |
0% |
0% |
14nm<x<=28nm |
34% |
36% |
35% |
40% |
37% |
28nm<x<=40nm |
18% |
17% |
17% |
15% |
16% |
40nm<x<=65nm |
18% |
17% |
18% |
17% |
16% |
65nm<x<=90nm |
8% |
8% |
8% |
7% |
8% |
90nm<x<=0.13um |
7% |
7% |
8% |
7% |
7% |
0.13um<x<=0.18um |
10% |
10% |
9% |
9% |
10% |
0.18um<x<=0.35um |
4% |
4% |
4% |
4% |
5% |
0.5um and above |
1% |
1% |
1% |
1% |
1% |
Revenue from fabless customers accounted for 86% of revenue.
Revenue Breakdown by Customer Type |
|||||
Customer Type |
1Q26 |
4Q25 |
3Q25 |
2Q25 |
1Q25 |
Fabless |
86% |
80% |
81% |
81% |
82% |
IDM |
14% |
20% |
19% |
19% |
18% |
Revenue from the communication segment accounted for 39%, while business from computer applications was 12% of sales. Business from consumer applications accounted for 32%, while other segments was 17% of revenue.
Revenue Breakdown by Application (1) |
|||||
Application |
1Q26 |
4Q25 |
3Q25 |
2Q25 |
1Q25 |
Computer |
12% |
12% |
12% |
11% |
11% |
Communication |
39% |
42% |
42% |
41% |
40% |
Consumer |
32% |
28% |
29% |
33% |
34% |
Others |
17% |
18% |
17% |
15% |
15% |
(1) Computer consists of ICs such as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset, audio codec, keyboard controller, monitor scaler, USB, I/O chipset, WLAN. Communication consists of handset components, broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash controller, game consoles, DSC, smart cards, toys, etc.
|
Blended ASP Trend
(To view blended ASP trend, please click here for 1Q26 ASP)
Shipment and Utilization Rate3
Wafer shipments increased 2.7% QoQ to 1,021K during the first quarter, while quarterly capacity was 1,283K. Overall utilization rate in 1Q26 was 79%.
|
Wafer Shipments |
|||||
1Q26 |
4Q25 |
3Q25 |
2Q25 |
1Q25 |
|
Wafer Shipments
|
1,021 |
994 |
1,000 |
967 |
910 |
|
Quarterly Capacity Utilization Rate |
|||||
|
1Q26 |
4Q25 |
3Q25 |
2Q25 |
1Q25 |
Utilization Rate |
79% |
78% |
78% |
76% |
69% |
Total Capacity
|
1,283 |
1,305 |
1,305 |
1,290 |
1,264 |
Capacity4
Total capacity in the first quarter was 1,283K 12-inch equivalent wafers. Capacity will increase to 1,305K 12-inch equivalent wafers in the second quarter of 2026.
Annual Capacity in thousands of wafers |
|
Quarterly Capacity in thousands of wafers |
|||||||||||
FAB |
Geometry
|
2025 |
2024 |
2023 |
2022 |
|
FAB |
2Q26E |
1Q26 |
4Q25 |
3Q25 |
||
WTK |
6" |
5 – 0.15 |
317 |
331 |
328 |
335 |
|
WTK |
6" |
80 |
78 |
80 |
80 |
8A |
8" |
3 – 0.11 |
857 |
829 |
811 |
765 |
|
8A |
8" |
215 |
212 |
215 |
215 |
8C |
8" |
0.35 – 0.11 |
500 |
477 |
473 |
459 |
|
8C |
8" |
125 |
123 |
125 |
125 |
8D |
8" |
0.18 – 0.11 |
471 |
473 |
440 |
410 |
|
8D |
8" |
118 |
116 |
118 |
118 |
8E |
8" |
0.6 – 0.11 |
522 |
524 |
490 |
469 |
|
8E |
8" |
131 |
129 |
131 |
131 |
8F |
8" |
0.18 – 0.11 |
583 |
578 |
570 |
550 |
|
8F |
8" |
146 |
144 |
146 |
146 |
8S |
8" |
0.18 – 0.11 |
466 |
455 |
447 |
443 |
|
8S |
8" |
117 |
115 |
117 |
117 |
8N |
8" |
0.5 – 0.11 |
996 |
1,013 |
996 |
952 |
|
8N |
8" |
250 |
246 |
250 |
250 |
12A |
12" |
0.13 – 0.014 |
1,629 |
1,556 |
1,305 |
1,170 |
|
12A |
12" |
409 |
402 |
409 |
409 |
12i |
12" |
0.13 – 0.040 |
684 |
678 |
655 |
655 |
|
12i |
12" |
172 |
169 |
172 |
172 |
12X |
12" |
0.080 – 0.022 |
347 |
318 |
317 |
314 |
|
12X |
12" |
95 |
93 |
95 |
95 |
12M |
12" |
0.13 – 0.040 |
471 |
455 |
438 |
436 |
|
12M |
12" |
119 |
117 |
119 |
119 |
Total(1) |
5,163 |
5,022 |
4,674 |
4,458 |
|
Total |
1,305 |
1,283 |
1,305 |
1,305 |
|||
YoY Growth Rate |
3% |
7% |
5% |
6% |
|
|
|
|
|
|
|||
(1) One 6-inch wafer is converted into 0.25 (62/122) 12-inch equivalent wafer; one 8-inch wafer is converted into 0.44 (82/122) 12-inch equivalent wafers. Total capacity figures are expressed in 12-inch equivalent wafers.
CAPEX
CAPEX spending in 1Q26 totaled US$416 million. 2026 cash-based CAPEX budget will be US$1.5 billion.
Capital Expenditure by Year - in US$ billion |
|||||
Year |
2025 |
2024 |
2023 |
2022 |
2021 |
CAPEX |
$ 1.6 |
$ 2.9 |
$ 3.0 |
$ 2.7 |
$ 1.8 |
| 2026 CAPEX Plan | ||
8" |
12" |
Total |
10% |
90% |
US$1.5 billion |
Second Quarter 2026 Outlook & Guidance
Quarter-over-Quarter Guidance:
- Wafer Shipments: Will increase by high-single digit
- ASP in USD: Will increase by low-single digit
- Gross Profit Margin: Approximately 30%
- Capacity Utilization: low-80% range
- 2026 CAPEX: US$1.5 billion
Recent Developments / Announcements
Feb. 23, 2026 |
UMC Again Ranks Top 1% in the Semiconductor Industry in S&P Global Sustainability Yearbook 2026 |
Feb. 25, 2026 |
|
Feb. 25, 2026 |
UMC Board of Directors Announces Proposals for its Annual Shareholders Meeting |
Mar. 04, 2026 |
Infineon and UMC Partner in Driving Decarbonization Across the Supply Chain |
Mar. 11, 2026 |
Adeia and UMC Expand Long-Term Collaboration in Hybrid Bonding Technologies |
Mar. 12, 2026 |
|
Mar. 13, 2026 |
HyperLight and UMC Collaborate with Jabil to Bring TFLN Photonics to Data-Center Scale Deployment |
Mar. 20, 2026 |
|
Apr. 21, 2026 |
Please visit UMC's website for further details regarding the above announcements
Conference Call / Webcast Announcement
Wednesday, April 29, 2026
Time: 5:00 PM (Taipei) / 5:00 AM (New York) / 10:00 AM (London)
Dial-in numbers and Access Codes: |
|
Taiwan Number: |
02 3396 1191 |
Taiwan Toll Free: |
0080 119 6666 |
US Toll Free: |
+1 866 212 5567 |
Other Areas: |
+886 2 3396 1191 |
|
|
Access Code: |
1243029# |
A live webcast and replay of the 1Q26 results announcement will be available at www.umc.com under the "Investors / Events" section.
About UMC
UMC (NYSE:UMC, TWSE: 2303)) is a leading global semiconductor foundry company. The company provides high-quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC's comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC's 12-in and 8-in fabs with its core R&D are in Taiwan, with additional ones throughout Asia. UMC has a total of 12 fabs in production with a combined capacity of more than 400,000 wafers per month (12-in equivalent), and all of them are certified with IATF 16949 automotive quality standards. UMC is headquartered in Hsinchu, Taiwan, plus local offices in the United States, Europe, China, Japan, Korea, and Singapore, with a worldwide total of 20,000 employees. For more information, please visit: http://www.umc.com.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding anticipated financial results for the first quarter of 2026; the expected wafer shipment and ASP; the anticipated annual budget; capex strategies; environmental protection goals and water management strategies; impact of foreign currency exchange rates; expected foundry capacities; the ability to obtain new business opportunities; and information under the heading "Second Quarter 2026 Outlook and Guidance."
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) dependence upon the frequent introduction of new services and technologies based on the latest developments in the industry in which UMC operates; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international business activities; (iv) dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including natural disasters, terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risk factors is included in UMC's filings with the United States Securities and Exchange Commission, including its Annual Report on Form 20-F. All information provided in this release is as of the date of this release and are based on assumptions that UMC believes to be reasonable as of this date, and UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.
- FINANCIAL TABLES TO FOLLOW -
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||
| Consolidated Condensed Balance Sheet | |||||||
| As of March 31, 2026 | |||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||
| March 31, 2026 | |||||||
| US$ | NT$ | % | |||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | 3,407 |
109,019 |
18.2% |
||||
| Accounts receivable, net | 1,113 |
35,603 |
5.9% |
||||
| Inventories, net | 1,208 |
38,645 |
6.4% |
||||
| Other current assets | 1,037 |
33,173 |
5.5% |
||||
| Total current assets | 6,764 |
216,440 |
36.1% |
||||
| Non-current assets | |||||||
| Funds and investments | 2,720 |
87,052 |
14.5% |
||||
| Property, plant and equipment | 8,372 |
267,898 |
44.7% |
||||
| Right-of-use assets | 234 |
7,500 |
1.3% |
||||
| Other non-current assets | 658 |
21,042 |
3.5% |
||||
| Total non-current assets | 11,984 |
383,492 |
63.9% |
||||
| Total assets | 18,748 |
599,932 |
100.0% |
||||
| Liabilities | |||||||
| Current liabilities | |||||||
| Short-term loans | 112 |
3,590 |
0.6% |
||||
| Payables | 1,408 |
45,061 |
7.5% |
||||
| Current portion of long-term liabilities | 603 |
19,299 |
3.2% |
||||
| Other current liabilities | 364 |
11,662 |
1.9% |
||||
| Total current liabilities | 2,488 |
79,611 |
13.3% |
||||
| Non-current liabilities | |||||||
| Bonds payable | 1,065 |
34,073 |
5.7% |
||||
| Long-term loans | 409 |
13,092 |
2.2% |
||||
| Lease liabilities, noncurrent | 167 |
5,354 |
0.9% |
||||
| Other non-current liabilities | 1,908 |
61,065 |
10.2% |
||||
| Total non-current liabilities | 3,550 |
113,584 |
18.9% |
||||
| Total liabilities | 6,037 |
193,196 |
32.2% |
||||
| Equity | |||||||
| Equity attributable to the parent company | |||||||
| Capital | 3,931 |
125,785 |
21.0% |
||||
| Additional paid-in capital | 494 |
15,812 |
2.6% |
||||
| Retained earnings and other components of equity | 8,284 |
265,103 |
44.2% |
||||
| Total equity attributable to the parent company | 12,709 |
406,701 |
67.8% |
||||
| Non-controlling interests | 1 |
36 |
0.0% |
||||
| Total equity | 12,711 |
406,736 |
67.8% |
||||
| Total liabilities and equity | 18,748 |
599,932 |
100.0% |
||||
| Notes: | |||||||
| (1) The U.S. dollar amounts have been translated at an exchange rate of NT $32.00 per U.S. dollar as of March 31, 2026. | |||||||
| (2) Sums may not equal totals due to rounding. | |||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income | |||||||||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||||||||||||||
| Except Per Share and Per ADS Data | |||||||||||||||||||||||
| Year over Year Comparison | Quarter over Quarter Comparison | ||||||||||||||||||||||
| Three-Month Period Ended | Three-Month Period Ended | ||||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | Chg. | March 31, 2026 | December 31, 2025 | Chg. | ||||||||||||||||||
| US$ | NT$ | NT$ | % | US$ | NT$ | NT$ | % | ||||||||||||||||
| Operating revenues | 1,930 |
|
61,038 |
|
57,859 |
|
5.5 |
% |
1,930 |
|
61,038 |
|
61,810 |
|
(1.2 |
%) |
|||||||
| Operating costs | (1,367 |
) |
(43,219 |
) |
(42,412 |
) |
1.9 |
% |
(1,367 |
) |
(43,219 |
) |
(42,851 |
) |
0.9 |
% |
|||||||
| Gross profit | 563 |
|
17,818 |
|
15,447 |
|
15.4 |
% |
563 |
|
17,818 |
|
18,958 |
|
(6.0 |
%) |
|||||||
29.2 |
% |
29.2 |
% |
26.7 |
% |
29.2 |
% |
29.2 |
% |
30.7 |
% |
||||||||||||
| Operating expenses | |||||||||||||||||||||||
| - Sales and marketing expenses | (22 |
) |
(689 |
) |
(619 |
) |
11.3 |
% |
(22 |
) |
(689 |
) |
(595 |
) |
15.8 |
% |
|||||||
| - General and administrative expenses | (58 |
) |
(1,834 |
) |
(1,542 |
) |
18.9 |
% |
(58 |
) |
(1,834 |
) |
(1,853 |
) |
(1.0 |
%) |
|||||||
| - Research and development expenses | (145 |
) |
(4,575 |
) |
(3,964 |
) |
15.4 |
% |
(145 |
) |
(4,575 |
) |
(4,937 |
) |
(7.3 |
%) |
|||||||
| - Expected credit impairment gain | 0 |
|
0 |
|
2 |
|
(98.1 |
%) |
0 |
|
0 |
|
0 |
|
2,150 |
% |
|||||||
| Subtotal | (224 |
) |
(7,099 |
) |
(6,123 |
) |
15.9 |
% |
(224 |
) |
(7,099 |
) |
(7,384 |
) |
(3.9 |
%) |
|||||||
| Net other operating income and expenses | 18 |
|
557 |
|
462 |
|
20.4 |
% |
18 |
|
557 |
|
651 |
|
(14.5 |
%) |
|||||||
| Operating income | 357 |
|
11,276 |
|
9,786 |
|
15.2 |
% |
357 |
|
11,276 |
|
12,225 |
|
(7.8 |
%) |
|||||||
18.5 |
% |
18.5 |
% |
16.9 |
% |
18.5 |
% |
18.5 |
% |
19.8 |
% |
||||||||||||
| Net non-operating income and expenses | 170 |
|
5,367 |
|
(439 |
) |
- |
|
170 |
|
5,367 |
|
3,278 |
|
63.8 |
% |
|||||||
| Income from continuing operations before income tax |
526 |
|
16,644 |
|
9,347 |
|
78.1 |
% |
526 |
|
16,644 |
|
15,503 |
|
7.4 |
% |
|||||||
27.3 |
% |
27.3 |
% |
16.2 |
% |
27.3 |
% |
27.3 |
% |
25.1 |
% |
||||||||||||
| Income tax expense | (17 |
) |
(527 |
) |
(1,603 |
) |
(67.1 |
%) |
(17 |
) |
(527 |
) |
(5,504 |
) |
(90.4 |
%) |
|||||||
| Net income | 510 |
|
16,117 |
|
7,743 |
|
108.1 |
% |
510 |
|
16,117 |
|
9,999 |
|
61.2 |
% |
|||||||
26.4 |
% |
26.4 |
% |
13.4 |
% |
26.4 |
% |
26.4 |
% |
16.2 |
% |
||||||||||||
| Other comprehensive income (loss) | 323 |
|
10,205 |
|
4,489 |
|
127.3 |
% |
323 |
|
10,205 |
|
8,721 |
|
17.0 |
% |
|||||||
| Total comprehensive income (loss) | 832 |
|
26,322 |
|
12,232 |
|
115.2 |
% |
832 |
|
26,322 |
|
18,720 |
|
40.6 |
% |
|||||||
| Net income attributable to: | |||||||||||||||||||||||
| Shareholders of the parent | 511 |
|
16,171 |
|
7,777 |
|
107.9 |
% |
511 |
|
16,171 |
|
10,055 |
|
60.8 |
% |
|||||||
| Non-controlling interests | (2 |
) |
(54 |
) |
(34 |
) |
62.6 |
% |
(2 |
) |
(54 |
) |
(56 |
) |
(2.0 |
%) |
|||||||
| Comprehensive income (loss) attributable to: | |||||||||||||||||||||||
| Shareholders of the parent | 834 |
|
26,376 |
|
12,266 |
|
115.0 |
% |
834 |
|
26,376 |
|
18,776 |
|
40.5 |
% |
|||||||
| Non-controlling interests | (2 |
) |
(54 |
) |
(33 |
) |
62.6 |
% |
(2 |
) |
(54 |
) |
(56 |
) |
(1.9 |
%) |
|||||||
| Earnings per share-basic | 0.041 |
|
1.29 |
|
0.62 |
|
0.041 |
|
1.29 |
|
0.81 |
|
|||||||||||
| Earnings per ADS (2) | 0.204 |
|
6.45 |
|
3.10 |
|
0.204 |
|
6.45 |
|
4.05 |
|
|||||||||||
| Weighted average number of shares | |||||||||||||||||||||||
| outstanding (in millions) | 12,491 |
|
12,485 |
|
12,491 |
|
12,487 |
|
|||||||||||||||
| Notes: | |||||||||||||||||||||||
| (1) The U.S. dollar amounts have been translated at the weighted-average exchange rate of NT $31.63 per U.S. dollar for the three-month period ended March 31, 2026. | |||||||||||||||||||||||
| (2) 1 ADS equals 5 common shares. | |||||||||||||||||||||||
| (3) Sums may not equal totals due to rounding. | |||||||||||||||||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | |||||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income | |||||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | |||||||||||||||||||
| Except Per Share and Per ADS Data | |||||||||||||||||||
| For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||
| March 31, 2026 | March 31, 2026 | ||||||||||||||||||
| US$ | NT$ | % | US$ | NT$ | % | ||||||||||||||
| Operating revenues | 1,930 |
|
61,038 |
|
100.0 |
% |
1,930 |
|
61,038 |
|
100.0 |
% |
|||||||
| Operating costs | (1,367 |
) |
(43,219 |
) |
(70.8 |
%) |
(1,367 |
) |
(43,219 |
) |
(70.8 |
%) |
|||||||
| Gross profit | 563 |
|
17,818 |
|
29.2 |
% |
563 |
|
17,818 |
|
29.2 |
% |
|||||||
| Operating expenses | |||||||||||||||||||
| - Sales and marketing expenses | (22 |
) |
(689 |
) |
(1.1 |
%) |
(22 |
) |
(689 |
) |
(1.1 |
%) |
|||||||
| - General and administrative expenses | (58 |
) |
(1,834 |
) |
(3.0 |
%) |
(58 |
) |
(1,834 |
) |
(3.0 |
%) |
|||||||
| - Research and development expenses | (145 |
) |
(4,575 |
) |
(7.5 |
%) |
(145 |
) |
(4,575 |
) |
(7.5 |
%) |
|||||||
| - Expected credit impairment gain | 0 |
|
0 |
|
0.0 |
% |
0 |
|
0 |
|
0.0 |
% |
|||||||
| Subtotal | (224 |
) |
(7,099 |
) |
(11.6 |
%) |
(224 |
) |
(7,099 |
) |
(11.6 |
%) |
|||||||
| Net other operating income and expenses | 18 |
|
557 |
|
0.9 |
% |
18 |
|
557 |
|
0.9 |
% |
|||||||
| Operating income | 357 |
|
11,276 |
|
18.5 |
% |
357 |
|
11,276 |
|
18.5 |
% |
|||||||
| Net non-operating income and expenses | 170 |
|
5,367 |
|
8.8 |
% |
170 |
|
5,367 |
|
8.8 |
% |
|||||||
| Income from continuing operations before income tax |
526 |
|
16,644 |
|
27.3 |
% |
526 |
|
16,644 |
|
27.3 |
% |
|||||||
| Income tax expense | (17 |
) |
(527 |
) |
(0.9 |
%) |
(17 |
) |
(527 |
) |
(0.9 |
%) |
|||||||
| Net income | 510 |
|
16,117 |
|
26.4 |
% |
510 |
|
16,117 |
|
26.4 |
% |
|||||||
| Other comprehensive income (loss) | 323 |
|
10,205 |
|
16.7 |
% |
323 |
|
10,205 |
|
16.7 |
% |
|||||||
| Total comprehensive income (loss) | 832 |
|
26,322 |
|
43.1 |
% |
832 |
|
26,322 |
|
43.1 |
% |
|||||||
| Net income attributable to: | |||||||||||||||||||
| Shareholders of the parent | 511 |
|
16,171 |
|
26.5 |
% |
511 |
|
16,171 |
|
26.5 |
% |
|||||||
| Non-controlling interests | (2 |
) |
(54 |
) |
(0.1 |
%) |
(2 |
) |
(54 |
) |
(0.1 |
%) |
|||||||
| Comprehensive income (loss) attributable to: | |||||||||||||||||||
| Shareholders of the parent | 834 |
|
26,376 |
|
43.2 |
% |
834 |
|
26,376 |
|
43.2 |
% |
|||||||
| Non-controlling interests | (2 |
) |
(54 |
) |
(0.1 |
%) |
(2 |
) |
(54 |
) |
(0.1 |
%) |
|||||||
| Earnings per share-basic | 0.041 |
|
1.29 |
|
0.041 |
|
1.29 |
|
|||||||||||
| Earnings per ADS (2) | 0.204 |
|
6.45 |
|
0.204 |
|
6.45 |
|
|||||||||||
| Weighted average number of shares outstanding (in millions) |
12,491 |
|
12,491 |
|
|||||||||||||||
| Notes: | |||||||||||||||||||
| (1) The U.S. dollar amounts have been translated at the weighted-average exchange rate of NT $31.63 per U.S. dollar for the three-month period ended March 31, 2026. | |||||||||||||||||||
| (2) 1 ADS equals 5 common shares. | |||||||||||||||||||
| (3) Sums may not equal totals due to rounding. | |||||||||||||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||||
| Consolidated Condensed Statement of Cash Flows | ||||||
| For The Three-Month Period Ended March 31, 2026 | ||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||||
| US$ | NT$ | |||||
| Cash flows from operating activities : | ||||||
| Net income before tax | 526 |
|
16,644 |
|
||
| Depreciation & Amortization | 506 |
|
15,987 |
|
||
| Share of profit of associates and joint ventures | (89 |
) |
(2,815 |
) |
||
| Income tax paid | (15 |
) |
(464 |
) |
||
| Changes in working capital & others | (233 |
) |
(7,370 |
) |
||
| Net cash provided by operating activities | 695 |
|
21,981 |
|
||
| Cash flows from investing activities : | ||||||
| Increase in financial assets measured at amortized cost | (225 |
) |
(7,101 |
) |
||
| Acquisition of property, plant and equipment | (396 |
) |
(12,526 |
) |
||
| Acquisition of intangible assets | (22 |
) |
(681 |
) |
||
| Others | (33 |
) |
(1,040 |
) |
||
| Net cash used in investing activities | (675 |
) |
(21,348 |
) |
||
| Cash flows from financing activities : | ||||||
| Decrease in short-term loans | (152 |
) |
(4,821 |
) |
||
| Proceeds from long-term loans | 156 |
|
4,931 |
|
||
| Repayments of long-term loans | (100 |
) |
(3,149 |
) |
||
| Others | (20 |
) |
(647 |
) |
||
| Net cash used in financing activities | (117 |
) |
(3,686 |
) |
||
| Effect of exchange rate changes on cash and cash equivalents | 45 |
|
1,411 |
|
||
| Net decrease in cash and cash equivalents | (52 |
) |
(1,641 |
) |
||
| Cash and cash equivalents at beginning of period | 3,499 |
|
110,660 |
|
||
| Cash and cash equivalents at end of period | 3,447 |
|
109,019 |
|
||
| Notes: | ||||||
| (1) The U.S. dollar amounts have been translated at the weighted-average exchange rate of NT $31.63 per U.S. dollar for the three-month period ended March 31, 2026. | ||||||
| (2) Sums may not equal totals due to rounding. | ||||||
1 Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending March 31, 2026, the three-month period ending December 31, 2025, and the equivalent three-month period that ended March 31, 2025. For all 1Q26 results, the U.S. dollar amounts have been translated at the weighted-average exchange rate of NT$31.63 per U.S. dollar for the three-month period ended March 31, 2026.
2 Revenue in this section represents wafer sales.
3 Utilization Rate = Quarterly Wafer Out / Quarterly Capacity
4 Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260429074239/en/
Michael Lin / David Wong
UMC, Investor Relations
+ 886-2-2658-9168, ext. 16900
jinhong_lin@umc.com
david_wong@umc.com