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
April 28, 2015
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.
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Form 20-F x Form 40-F o
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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.
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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
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1.
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Press release entitled, “AU Optronics Corp. Reports First Quarter 2015 Financial Results” dated April 28, 2015.
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2.
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Investor Conference Materials entitled, “AU Optronics Corp. First Quarter 2015 Results”, dated April 28, 2015.
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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.
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AU Optronics Corp.
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Date: April 28, 2015
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By:
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/s/ Andy Yang
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Name:
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Andy Yang
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Title:
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Chief Financial Officer
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ITEM 1
News Release
AU Optronics Corp. Reports a 19-Quarter High Operating Margin of 9.4% for First Quarter 2015
Issued by: AU Optronics Corp.
Issued on: April 28, 2015
Hsinchu, Taiwan, April 28, 2015–
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investor conference and announced its unaudited consolidated financial results for the first quarter of 2015(1).
Consolidated revenues in the first quarter of 2015 were NT$95.30 billion, down 9.6% from the previous quarter. Gross profit was NT$14.35 billion, with a gross margin of 15.1%. Operating profit was NT$8.95 billion, with an operating margin of 9.4%. AUO’s net profit for the first quarter of 2015 was NT$5.27 billion. Net profit attributable to owners of Company was NT$5.16 billion, with a basic EPS of NT$0.54(2).
In the first quarter of 2015, large-sized panel(3) shipments totaled 26.80 million units, down by 8.9% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 42.65 million units, roughly flat compared with the fourth quarter of 2014.
AUO’s unaudited consolidated results for the first quarter of 2015 were highlighted as below:
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Revenues of NT$95.30 billion
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Operating profit of NT$8.95 billion
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Net profit of NT$5.27 billion
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Basic EPS of NT$0.54(2)
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Ÿ
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Gross margin was 15.1%
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Operating margin was 9.4%
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EBITDA(4) margin was 23.4%
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Looking back to the first quarter, affected by the seasonal factors and its annual maintenance during slow season, AUO’s revenue declined by 9.6% quarter-over-quarter. However, thanks to the significant enhancement of its cost and expense structures, along with the positive effects brought by the currency fluctuations, the Company’s operating profit was better than expected and reached NT$8.95 billion, growing by nearly 13 times year-over-year. It is also worthwhile to mention that AUO’s operating and EBITDA margins in the first quarter rose to 9.4% and 23.4%, respectively, both reaching the highest ratios over the past 19 quarters. These operating results in the first quarter were on par with the Company’s peak season performance in the second half of 2014. In addition, the Company’s financial structure also continued to improve, and its net debt to equity ratio was further lowered to 25.9%, a new low in recent years.
Over the past few years, AUO has fully executed the strategy of “Focus, Simplification and Value Added” on its technologies, products and internal management. The Company’s significant improvements in cost optimization and operating efficiency in the first quarter have demonstrated its accumulated, long-term efforts. Looking forward to the second quarter and the future, facing the macroeconomic uncertainties, AUO will continue to strengthen its product mix as well as technological competitiveness, and also improve its cost control and management, aiming to increase its capability to withstand economic fluctuations and ultimately enhance its long-term profitability and stability.
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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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Basic EPS in the first quarter of 2015 was calculated based on the weighted average outstanding shares of the reporting quarter (9,624 million shares).
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(3)
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Large size refers to panels that are 10 inches and above in diagonal measurement.
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(4)
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EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.
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News Release
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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 1.4 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. By building a vertically integrated high-efficiency solar value chain, AUO 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 2014. AUO generated consolidated revenues of NT$408.18 billion in 2014. For more information, please visit AUO.com.
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 are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were 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 Form 20-F filed with the United States Securities and Exchange Commission on March 24th, 2015.
For more information, please contact:
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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.
First Quarter 2015 Results Investor Conference
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.
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Statement of Comprehensive Income
Selected Items from Statement of Comprehensive Income Amount : NT$ Million
1Q15 4Q14 QoQ % 1Q14
======== ======= ========= ======= ========= ======== =======
Net Sales 95,302 100. 0% 105,449 100. 0% (9. 6%) 93,802 100. 0%
Cost of Goods Sold (80,954) (84.9%) (89,828) (85.2%) (9.9%) (86,907) (92.7%)
Gross Profit 14,348 15. 1% 15,621 14. 8% (8. 1%) 6,894 7. 3%
Operating Expenses (5,395) (5.7%) (6,798) (6.4%) (20.6%) (6,236) (6.6%)
Operating Profit 8,952 9. 4% 8,823 8. 4% 1. 5% 658 0. 7%
Net Non-operating Expenses (3,179) (3.3%) (890) (0.8%) 257.1% (359) (0.4%)
Profit before Tax 5,774 6. 1% 7,933 7. 5% (27. 2%) 299 0. 3%
Net Profit 5,272 5. 5% 6,575 6. 2% (19. 8%) 166 0. 2%
Attributable to:
Owners of Company 5,156 5.4% 6,004 5.7% (14.1%) 259 0.3%
Non-controlling Interests 116 0.1% 571 0.5% (79.6%) (93) (0.1%)
Net Profit 5,272 5. 5% 6,575 6. 2% (19. 8%) 166 0. 2%
Basic EPS (NT$)(a) 0. 54 0. 62 (12. 9%) 0. 03
============================ ======== ======= ========= ======= ========= ======== =======
Operating Profit + D&A 22,339 23. 4% 22,339 21. 2% 0. 0% 15,723 16. 8%
============================ ======== ======= ========= ======= ========= ======== =======
Display Segment Information:
Net Sales 88,966 100.0% 99,385 100.0% (10.5%) 87,530 100.0%
Operating Profit 9,490 10.7% 9,225 9.3% 2.9% 1,437 1.6%
Operating Profit + D&A 22,140 24.9% 21,831 22.0% 1.4% 15,550 17.8%
============================ ======== ======= ========= ======= ========= ======== =======
Unit Shipments (mn)(b)
Large Size Panels 26. 8 29. 4 (8. 9%) 29. 2
Small & Medium Size Panels 42. 6 42. 7 (0. 2%) 33. 5
============================ ======== ======= ========= ======= ========= ======== =======
-- Unaudited, prepared by AUO based on Taiwan IFRS
a) Basic EPS in 1Q15 was calculated based on the weighted average outstanding
shares of the reporting quarter (9,624m shares); Basic EPS in both 4Q14 and
1Q14 were calculated based on the weighted average outstanding shares of 2014
(9,624m shares).
b) Large size refers to panels that are 10 inches and above
Consolidated Balance Sheet Highlights
Amount : NT$ Million
1Q15 4Q14 QoQ % 1Q14
========= ========= =========== =========
Cash & ST Investment()a) 78,325 81,965 (4.4%) 73,077
Inventory 38,034 36,420 4.4% 37,422
Short Term Debt ()b) 53,036 56,998 (7.0%) 51,040
Long Term Debt 78,311 85,689 (8.6%) 126,170
Equity 204,845 200,370 2.2% 179,013
Total Assets 454,761 469,860 (3.2%) 474,525
============================== ========= ========= =========== =========
Inventory Turnover (Days)()c) 42 36 39
Net Debt to Equity ()d) 25. 9% 30. 3% 58. 2%
============================== ========= ========= =========== =========
-- Unaudited, prepared by AUO based on Taiwan IFRS
a) Excluding time deposit with maturity longer than 3 months (NT$ 2,410m in
1Q15 ,NT$2,100m in 4Q14, and NT$891m in 1Q14)
b) Short term debt refers to all interest bearing debt maturing within one
year
c) Calculated by dividing the average inventory into the annualized cost of
goods sold during such period, then multiplying by 365 days
d) Net Debt to Equity = (Short Term Debt + Long Term Debt - Cash and ST
Investment) / Equity
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Consolidated Cash Flow Highlights
Amount : NT$ Million
1Q15 4Q14 QoQ
========== ========== ==========
From Operating Activities 12,457 17,873 (5,416)
Profit before Tax 5,774 7,933 (2,159)
Depreciation & Amortization 13,387 13,516 (129)
Net Change in Working Capital (6,177) (3,787) (2,390)
From Investing Activities (5,055) (1,540) (3,515)
Capital Expenditure (5,218) (3,052) (2,166)
From Financing Activities (11,098) (10,030) (1,068)
Net Change in Debt (11,004) (9,888) (1,116)
Net Change in Cash()a) (3,641) 6,552 (10,192)
-- 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 include effect on currency exchange of
foreign subsidiaries
Display Revenue Breakdown by Application
-- Unaudited, prepared by AUO based on Taiwan IFRS
-- 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.
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Display Revenue Breakdown by Size -- Unaudited, prepared by AUO based on Taiwan IFRS Consolidated Shipments & ASP by Area Shipments in square meter ASP per square meter -- 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 Customs Administration, Ministry of Finance of each respective quarter |
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Consolidated Small & Medium Panel Shipments by Area & Revenues -- Unaudited, prepared by AUO based on Taiwan IFRS -- Small & Medium size refers to panels that are under 10 inches www.auo.com ir@auo.com |
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AU OPTRONICS CORP. CONSOLIDATED COMPREHENSIVE INCOME STATEMENT
For the Three Months Ended March 31, 2015 and 2014 and December 31,
2014 (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
------- -------------------------- -------- ------- ----------------------------
--------
1Q 2015 % of 1Q 2014 YoY 1Q 2015 % of 4Q 2014 QoQ
USD NTD Sales NTD Chg % USD NTD Sales NTD Chg %
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Net Sales 3,051 95,302 100.0 93,802 1.6 3,051 95,302 100.0 105,449
(9.6)
Cost of Goods Sold 2,591 80,954 84.9 86,907 (6.8) 2,591 80,954 84.9 89,828
(9.9)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Gross Profit 459 14,348 15.1 6,894 108.1 459 14,348 15.1 15,621
(8.1)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Operating Expenses 173 5,395 5.7 6,236 (13.5) 173 5,395 5.7 6,798
(20.6)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Operating Profit 287 8,952 9.4 658 1,260.7 287 8,952 9.4 8,823 1.5
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Net Non-Operating Expense (102) (3,179) (3.3) (359) 786.5 (102) (3,179) (3.3) (890) 257.1
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Profit before Income Tax 185 5,774 6.1 299 1,828.7 185 5,774 6.1 7,933
(27.2)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Income Tax Expense (16) (502) (0.5) (133) 276.1 (16) (502) (0.5) (1,358)
(63.1)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Net Profit 169 5,272 5.5 166 3,076.5 169 5,272 5.5 6,575
(19.8)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Other Comprehensive Income (Loss) (27) (854) (0.9) (65) 1,210.4 (27) (854) (0.9) 1,854 []
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Total Comprehensive Income 141 4,418 4.6 101 4,282.5 141 4,418 4.6 8,429
(47.6)
======= ========= ======= ======== ======== ======= ========= ======= ==========
========
Net Profit Attributable to:
Owners of Company 165 5,156 5.4 259 1,887.1 165 5,156 5.4 6,004
(14.1)
Non-controlling Interests 4 116 0.1 (93) [] 4 116 0.1 571
(79.6)
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Net Profit 169 5,272 5.5 166 3,076.5 169 5,272 5.5 6,575
(19.8)
======= ========= ======= ======== ======== ======= ========= ======= ==========
========
Total Comprehensive Income Attributable to:
Owners of Company 143 4,466 4.7 254 1,655.6 143 4,466 4.7 7,462
(40.1)
Non-controlling Interests (2) (48) (0.1) (154) (68.8) (2) (48) (0.1) 967 []
------- --------- ------- -------- -------- ------- --------- ------- ----------
--------
Total Comprehensive Income 141 4,418 4.6 101 4,282.5 141 4,418 4.6 8,429
(47.6)
======= ========= ======= ======== ======== ======= ========= ======= ==========
========
Basic Earnings Per Share 0.02 0.54 0.03 0.02 0.54 0.62
------- --------- -------- ------- --------- ----------
Basic Earnings Per ADS(3) 0.17 5.36 0.27 0.17 5.36 6.24
------- --------- -------- ------- --------- ----------
Weighted-Average Shares Outstanding ('M) 9,624 9,624 9,624 9,624
--------- -------- --------- ----------
Note: (1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the
exchange rate of NTD 31.24 per USD as of March 31, 2015 (3) 1 ADS equals 10
common shares
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AU OPTRONICS CORP. CONSOLIDATED BALANCE SHEET
March 31, 2015 and 2014
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) ) A
March 31, 2015 March 31, 2014 YoY
------ ---------------- ----- -------------- ----- ---------- -------
ASSETS USD NTD % NTD % Change %
-------------------------------------------- ------ ---------------- ----- -------------- ----- ---------- -------
Cash and Cash Equivalents 2,507 78,325 17.2 73,077 15.4 5,247 7.2
Notes & Accounts Receivables 1,768 55,222 12.1 44,746 9.4 10,476 23.4
Other Current Financial Assets 135 4,217 0.9 2,620 0.6 1,597 60.9
Inventories 1,217 38,034 8.4 37,422 7.9 611 1.6
Other Current Assets 143 4,481 1.0 4,262 0.9 219 5.1
------ ---------------- ----- -------------- ----- ---------- -------
Total Current Assets 5,771 180,278 39.6 162,128 34.2 18,150 11.2
------ ---------------- ----- -------------- ----- ---------- -------
Long-term Investments 481 15,011 3.3 14,587 3.1 425 2.9
------ ---------------- ----- -------------- ----- ---------- -------
Net Fixed Assets 7,126 222,606 49.0 259,472 54.7 (36,866) (14.2)
------ ---------------- ----- -------------- ----- ---------- -------
Other Assets 1,180 36,866 8.1 38,339 8.1 (1,473) (3.8)
------ ---------------- ----- -------------- ----- ---------- -------
Total Assets 14,557 454,761 100.0 474,525 100.0 (19,764) (4.2)
====== ================ ===== ============== ===== ========== =======
LIABILITIES
--------------------------------------------
Short-term Borrowings 0 0 0.0 1,248 0.3 (1,248) (100.0)
Accounts Payable 2,143 66,959 14.7 72,946 15.4 (5,987) (8.2)
Current Installments of Long-term Borrowings 1,276 39,864 8.8 49,792 10.5 (9,928) (19.9)
Current Installments of Bonds Payable 422 13,172 2.9 0 0.0 13,172 []
Current Financial Liabilities 2 48 0.0 178 0.0 (130) (72.9)
Accrued Expense & Other Current Liabilities 1,177 36,773 8.1 25,469 5.4 11,304 44.4
Machinery and Equipment Payable 138 4,301 0.9 5,444 1.1 (1,144) (21.0)
------ ---------------- ----- -------------- ----- ---------- -------
Total Current Liabilities 5,157 161,117 35.4 155,078 32.7 6,039 3.9
------ ---------------- ----- -------------- ----- ---------- -------
Long-term Borrowings 2,507 78,311 17.2 106,864 22.5 (28,553) (26.7)
Bonds Payable 0 0 0.0 19,306 4.1 (19,306) (100.0)
Non Current Financial Liabilities 0 8 0.0 9 0.0 (1) (9.2)
Other Long-term Liabilities 335 10,480 2.3 14,255 3.0 (3,775) (26.5)
------ ---------------- ----- -------------- ----- ---------- -------
Total Long-term Liabilities 2,842 88,799 19.5 140,434 29.6 (51,635) (36.8)
------ ---------------- ----- -------------- ----- ---------- -------
Total Liabilities 8,000 249,916 55.0 295,512 62.3 (45,596) (15.4)
------ ---------------- ----- -------------- ----- ---------- -------
EQUITY
--------------------------------------------
Common Stock 3,081 96,242 21.2 96,242 20.3 0 0.0
Capital Surplus 1,905 59,501 13.1 60,719 12.8 (1,218) (2.0)
Retained Earnings 822 25,675 5.6 4,280 0.9 21,395 499.9
Other Equity 136 4,259 0.9 3,539 0.7 720 20.4
Non-Controlling Interests 614 19,167 4.2 14,234 3.0 4,934 34.7
------ ---------------- ----- -------------- ----- ---------- -------
Total Equity 6,557 204,845 45.0 179,013 37.7 25,832 14.4
------ ---------------- ----- -------------- ----- ---------- -------
Total Liabilities & Equity 14,557 454,761 100.0 474,525 100.0 (19,764) (4.2)
====== ================ ===== ============== ===== ========== =======
Note: (1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the
exchange rate of NTD 31.24 per USD as of March 31, 2015 (3) Cash and Cash
Equivalents excluding time deposit with maturity longer than 3 months
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AU OPTRONICS CORP. CONSOLIDATED STATEMENT OF CASH FLOW
For the Period Ended March 31, 2015 and 2014 (Expressed in Millions of New
Taiwan Dollars (NTD) and US Dollars (USD))
1Q 2015 1Q 2014
--------------- ------------
-------------
USD NTD NTD
--------------- ------------
-------------
Cash Flow from Operating Activities:
Profit before Income Taxes 185 5,774 299
Depreciation & Amortization 429 13,387 15,065
Investment Loss under Equity Method (6) (177)
(83)
Changes in Working Capital (198) (6,177)
(5,884)
Changes in Others (11) (350) 1,052
--------------- ------------
-------------
Net Cash Provided by Operating Activities 399 12,457 10,449
Cash Flow from Investing Activities:
Proceeds from Disposal of AFS Investments 0 0 2
Acquisition of Property, Plant and Equipment (167) (5,218)
(5,594)
Proceeds from Disposal of Property, Plant and Equipment 1 29 826
Acquisition of Financial Assets Carried at Cost 0 0
(2)
Proceeds from Disposal of Equity-Accounted Investees and Financial Assets Carried at Cost 0 0 81
Decrease(Increase) in Other Financial Assets 4 129
(301)
Increase in Intangible Assets 0 0
(18)
Decrease(Increase) in Other Assets 0 5
(3)
--------------- ------------
-------------
Net Cash Used in Investing Activities (162) (5,055)
(5,008)
Cash Flow from Financing Activities:
Decrease in Short-term Borrowings (12) (381)
(2,209)
Decrease in Long-term Borrowings and Bonds Payable (340) (10,623)
(6,358)
Increase(Decrease) in Guarantee Deposits 1 35
(107)
Changes in Non-Controlling Interests and Others (4) (129) 286
--------------- ------------
-------------
Net Cash Used by Financing Activities (355) (11,098)
(8,387)
Effect of Exchange Rate Changes on Cash 2 56
(288)
--------------- ------------
-------------
Net Decrease in Cash and Cash Equivalents (117) (3,641)
(3,235)
Cash and Cash Equivalents at Beginning of Period 2,624 81,965 76,312
--------------- ------------
-------------
Cash and Cash Equivalents at End of Period 2,507 78,325 73,077
=============== ============
=============
Note: (1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the
exchange rate of NTD 31.24 per USD as of March 31, 2015
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