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

 

January 29, 2019

 

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 Fourth Quarter 2018 Financial Results in an investor conference” dated January 29, 2019.

 

2.Taiwan Stock Exchange filing entitled, “AU Optronics Corp. Fourth Quarter 2018 Results” dated January 29, 2019

 

 

 

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: January 29, 2019 By: /s/ Benjamin Tseng
    Name: Benjamin Tseng
    Title: Chief Financial Officer

 

 

 

 

 Item 1

 

 

 

News Release

 

 

AU Optronics Reports NT$10.16 Billion Net Profit Attributable to Owners of the Company for 2018 – Six Consecutive Years of Profitability

 

Issued by: AU Optronics Corp.
Issued on: January 29, 2019

 

Hsinchu, Taiwan, January 29, 2019–

 

AU Optronics Corp. ("AUO" or the "Company") (TWSE: 2409; NYSE: AUO) today held its investor conference and announced its consolidated financial results for the fourth quarter and fiscal year of 2018(1).

 

Consolidated revenues for the fourth quarter of 2018 were NT$77.09 billion, down by 4.9% quarter-over-quarter. AUO’s net profit attributable to owners of the Company for the fourth quarter of 2018 was NT$0.28 billion, with a basic EPS(2) of NT$0.03.

 

For the fiscal year of 2018, consolidated revenues totaled NT$307.63 billion, a decrease of 9.8% year-over-year. Net profit attributable to owners of the Company was NT$10.16 billion, with a basic EPS(2) of NT$1.06.

 

In the fourth quarter of 2018, large-sized panel(3) shipments exceeded 28.45 million units, down by 4.5% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter reached around 32.15 million units, down by 24.5% quarter-over-quarter.

 

For the full year of 2018, large-sized panel(3) shipments exceeded 114.79 million units, an increase of 2.7% from the previous year. Small-and-medium-sized panel shipments totaled 166.60 million units, down by 1.3% year-over-year.

 

Highlights of consolidated results for the fourth quarter of 2018:

 

ŸRevenues of NT$77.09 billion

 

ŸOperating loss of NT$1.45 billion

 

ŸNet profit attributable to owners of the Company at NT$0.28 billion

 

ŸBasic EPS(2) of NT$0.03

 

ŸGross margin was 5.3%

 

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ŸOperating margin was -1.9%

 

ŸEBITDA(4) margin was 9.7%

 

ŸOperating margin of Display Segment was -1.7%

 

ŸEBITDA(4) margin of Display Segment was 10.1%

 

 

Highlights of consolidated results for the fiscal year of 2018:

 

ŸRevenues of NT$307.63 billion

 

ŸOperating profit of NT$6.67 billion

 

ŸNet profit attributable to owners of the Company at NT$10.16 billion

 

ŸBasic EPS(2) of NT$1.06

 

ŸGross margin was 9.1%

 

ŸOperating margin was 2.2%

 

ŸEBITDA(4) margin was 13.3%

 

ŸOperating margin of Display Segment was 2.7%

 

ŸEBITDA(4) margin of Display Segment was 14.0%

 

In the fourth quarter, as new capacity being added to the market, industry supply and demand balance became looser. As a result, panel prices were on the decline, and net profit attributable to owners of the Company amounted to only NT$0.28 billion in the fourth quarter. In terms of the full year of 2018, revenues declined by 9.8% year over year to NT$307.63 billion. However, with consistent focus on the value transformation strategy, the Company was still able to maintain a good level of profitability. For the full year of 2018, operating profit reached NT$6.67 billion, net profit attributable to owners of the Company reached NT$10.16 billion, and basic earnings per share were NT$1.06. The Company’s financial structure was also maintained at a stable and healthy status.

 

Looking into 2019, as new capacity continues to ramp up, oversupply may become a display industry normal in the next few years. Furthermore, there could be uncertainties coming from both global economy and international trade situations. Facing the challenging business environment, the Company will insist on its core strategy, focusing on sustaining financial health, value enhancement and continuous innovation. In that way, the Company will be able to strengthen its long-term competitiveness, and march forward to the goal of value creation.

 

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

 

(2) Basic EPS in the fourth quarter and the fiscal year of 2018 were calculated based on the weighted average outstanding shares of the fiscal year of 2018 (9,624 million shares).

 

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(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. Based on its profound R&D and manufacturing experience, AUO offers a full range of display applications and smart solutions integrating software and hardware, and leverages its core expertise to enter new business areas such as solar, general health and circular economy. 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 since 2010. AUO’s consolidated net revenues in 2018 were NT$307.63 billion. 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 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 29, 2018. 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:

 

Public Communication Dept.

Jessie Lee Tel: +886-3-5008800 ext 3206 Email : jessie.jc.lee@auo.com
Katie Chen Tel: +886-3-5008800 ext 3615 Email : katie.chen@auo.com

 

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 Item 2

 

 

 

 

 

 

 

 

 

 

AU Optronics Corp.

Fourth Quarter 2018 Results Investor Conference

友達光電

2018年第四季法人說明會

 

Jan. 29, 2019

 

 

 

 

 

 

 

 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.

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Statement of Comprehensive Income

 

 

Selected Items from Statement of Comprehensive Income

 

Amount : NT$ Million                          
  4Q18     3Q18       QoQ %     4Q17    
                           
Net Sales 77,093 100.0% 81,043 100.0%   (4.9%)   80,664 100.0%  
Cost of Goods Sold (73,010) (94.7%) (72,402) (89.3%)   0.8%   (69,488) (86.1%)  
Gross Profit 4,084 5.3% 8,641 10.7%   (52.7%)   11,176 13.9%  
Operating Expenses (5,537) (7.2%) (5,572) (6.9%)   (0.6%)   (5,473) (6.8%)  
Operating Profit(Loss) (1,454) (1.9%) 3,069 3.8%     －   5,703 7.1%  
Net Non-operating Income(Expenses) 1,104 1.4% 2,109 2.6%   (47.7%)   (440) (0.5%)  
Profit(Loss) before Tax (350) (0.5%) 5,177 6.4%     －   5,263 6.5%  
Net Profit(Loss) (426) (0.6%) 4,319 5.3%     －   3,654 4.5%  
Net Profit Attributable to Owners of Company 281 0.4% 4,318 5.3%   (93.5%)   4,195 5.2%  
Basic EPS (NT$)(a ) 0.03   0.45     (93.3%)   0.44    
                       
                 
Operating Profit + D&A 7,510 9.7% 11,808 14.6% (36.4%) 14,403 17.9%  
                       
                           
Display Segment Information:                          
Net Sales 73,554 100.0% 77,183 100.0% (4.7%) 76,255 100.0%  
Operating Profit(Loss) (1,260) (1.7%) 3,350 4.3%   － 6,022 7.9%  
Operating Profit + D&A 7,417 10.1% 11,782 15.3% (37.0%) 14,348 18.8%  
                       
                           
Unit Shipments (mn)(b )                          
Large Size Panels 28.5   29.8   (4.5%) 28.6    
Small & Medium Size Panels 32.1   42.6   (24.5%) 47.0    
   
a)Basic EPS in 4Q18 and 3Q18 were calculated based on the weighted average outstanding shares of 2018 (9,624m shares); Basic EPS in 4Q17 was calculated based on the weighted average outstanding shares of 2017 (9,624m shares).

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

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Statement of Comprehensive Income

 

Selected Items from Statement of Comprehensive Income

 

Amount : NT$ Million

 

  FY 2018     FY 2017       YoY %
                   
Net Sales 307,634 100.0% 341,028 100.0%   (9.8%)  
Cost of Goods Sold (279,495) (90.9%) (279,987) (82.1%)   (0.2%)  
Gross Profit 28,140 9.1% 61,042 17.9%   (53.9%)  
Operating Expenses (21,472) (7.0%) (21,903) (6.4%)   (2.0%)  
Operating Profit 6,668 2.2% 39,139 11.5%   (83.0%)  
Net Non-operating Income 4,548 1.5% 224 0.1%   1926.1%  
Profit before Tax 11,216 3.6% 39,364 11.5%   (71.5%)  
Net Profit 7,960 2.6% 30,258 8.9%   (73.7%)  
Net Profit Attributable to Owners of Company 10,161 3.3% 32,359 9.5%   (68.6%)  
Basic EPS (NT$)(a ) 1.06   3.36     (68.5%)  
                 
             
Operating Profit + D&A 40,895 13.3% 75,569 22.2% (45.9%)  
ROE(b) 4.9%   16.6%   (70.3%)  
                   
Display Segment Information:                  
Net Sales 290,785 100.0% 322,335 100.0% (9.8%)  
Operating Profit 7,793 2.7% 39,971 12.4% (80.5%)  
Operating Profit + D&A 40,774 14.0% 74,788 23.2% (45.5%)  
                 
                   
Unit Shipments (mn)(c)                  
Large Size Panels 114.8   111.8   2.7%  
Small & Medium Size Panels 166.6   168.9   (1.3%)  
   
a)Basic EPS in both 2018 and 2017 were calculated based on the weighted average outstanding shares of 9,624m shares.

b)ROE was based on average equity attributable to shareholders of the parent company

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

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Consolidated Balance Sheet Highlights

 

 

Amount : NT$ Million                  
  4Q18   3Q18     QoQ %     4Q17  
Cash and Cash Equivalents (a )                    
69,163 63,060   9.7%   105,021  
Inventory 26,309 27,235   (3.4%)   24,854  
Short Term Debt (b ) 30,142 25,964   16.1%   11,580  
Long Term Debt 56,709 62,861   (9.8%)   102,453  
Equity 217,279 217,275   0.0%   225,245  
Total Assets 409,832 411,900   (0.5%)   441,451  
                     
Inventory Turnover (Days)(c) 33 34 33
Net Debt to Equity (d ) 8.1% 11.9% 4.0%
   
a)Excluding time deposit with maturity longer than 3 months (NT$0m in 4Q18, 3Q18 and 4Q17 )

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 Cash Equivalents) / Equity

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Consolidated Cash Flow Highlights

 

 

Amount : NT$ Million            
  4Q18   3Q18     QoQ
               
From Operating Activities 12,738 9,434   3,304  
Profit(Loss) before Tax (350) 5,177   (5,527)  
Depreciation & Amortization 8,964 8,739   224  
Net Change in Working Capital 5,429 (4,125)   9,554  
From Investing Activities (4,977) (8,211)   3,234  
Capital Expenditure (8,296) (7,563)   (733)  
From Financing Activities (2,201) (19,478)   17,276  
Net Change in Debt (2,214) (4,901)   2,686  
Net Change in Cash(a ) 6,103 (19,264)   25,368  
               
   
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

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Display Revenue Breakdown by Application

 

 

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Display Revenue Breakdown by Size

 

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Consolidated Shipments & ASP by Area

 

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 Consolidated Small & Medium Panel

Shipments by Area & Revenues

 

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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 www.auo.com

ir@auo.com

 

 

 

 

 

 

 

© 2018 AU Optronics Corporation – Proprietary and Confidential 2

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OPTRONICS CORP. AND SUBSIDIARIES 

Consolidated Condensed Statements of Comprehensive Income 

For the Three Months Ended December 31, 2018 and 2017 and September 30, 2018 

(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      
                                           
        4Q18       4Q17           4Q18       3Q18      
    USD   NTD %   NTD   YoY%   USD   NTD %   NTD   QoQ%  
                                           
Net Sales   2,519 77,093 100.0 80,664 (4.4) 2,519 77,093 100.0 81,043 (4.9)  
Cost of Goods Sold 2,385 73,010 94.7 69,488 5.1 2,385 73,010 94.7 72,402 0.8  
                                           
Gross Profit   133 4,084 5.3 11,176 (63.5) 133 4,084 5.3 8,641 (52.7)  
                                           
Operating Expenses   181 5,537 7.2 5,473 1.2 181 5,537 7.2 5,572 (0.6)  
                                           
Operating Profit(Loss)   (47) (1,454) (1.9) 5,703   － (47) (1,454) (1.9) 3,069   －  
                                           
Net Non-operating Income(Expenses)   36 1,104 1.4 (440)   － 36 1,104 1.4 2,109 (47.7)  
                                           
Profit(Loss) before Income Tax   (11) (350) (0.5) 5,263   － (11) (350) (0.5) 5,177   －  
                                           
Income Tax Expense   (2) (76) (0.1) (1,610) (95.3) (2) (76) (0.1) (858) (91.1)  
                                           
Net Profit(Loss)   (14) (426) (0.6) 3,654   － (14) (426) (0.6) 4,319   －  
                                           
Other Comprehensive Income(Loss)   13 407 0.5 (475)   － 13 407 0.5 (1,971)   －  
                                           
Total Comprehensive Income(Loss)   (1)   (19)   (0.0)   3,179   －   (1)   (19)   (0.0)   2,348   －  
Net Profit(Loss) Attributable to:                                          
                                         
Owners of Company 9 281 0.4 4,195 (93.3) 9 281 0.4 4,318 (93.5)  
Non-Controlling Interests (23) (707) (0.9) (541) 30.7 (23) (707) (0.9) 1   －  
                                           
Net Profit(Loss)   (14)   (426)   (0.6)   3,654   －   (14)   (426)   (0.6)   4,319   －  
Total Comprehensive Income(Loss) Attributable to:                                          
                                         
Owners of Company 19 576 0.7 3,774 (84.7) 19 576 0.7 2,909 (80.2)  
Non-Controlling Interests (19) (596) (0.8) (596) (0.0) (19) (596) (0.8) (561) 6.2  
                                           
Total Comprehensive Income(Loss)   (1)     (19)   (0.0)   3,179   －   (1)   (19)   (0.0)   2,348   －  
                                           
Basic Earnings Per Share   0.001 0.03     0.44     0.001 0.03     0.45      
Basic Earnings Per ADS(2)                                          
  0.010 0.29     4.36     0.010 0.29     4.49      
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 30.61 per USD as of December 31, 2018

 

   (2) 1 ADS equals 10 common shares

 

 

 

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

Consolidated Condensed Statements of Comprehensive Income

For the Period Ended December 31, 2018 and 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      
                     
      FY 2018       FY 2017      
  USD   NTD %   NTD   YoY%  
                     
Net Sales 10,050 307,634 100.0 341,028 (9.8)  
Cost of Goods Sold 9,131 279,495 90.9 279,987 (0.2)  
                     
Gross Profit 919 28,140 9.1 61,042 (53.9)  
                     
Operating Expenses 701 21,472 7.0 21,903 (2.0)  
                     
Operating Profit(Loss) 218 6,668 2.2 39,139 (83.0)  
                     
Net Non-operating Income(Expenses) 149 4,548 1.5 224 1,926.1  
                     
Profit(Loss) before Income Tax 366 11,216 3.6 39,364 (71.5)  
                     
Income Tax Expense (106) (3,256) (1.1) (9,105) (64.2)  
                     
Net Profit(Loss) 260 7,960 2.6 30,258 (73.7)  
                     
Other Comprehensive Income(Loss) (45) (1,384) (0.4) (960) 44.1  
                     
Total Comprehensive Income(Loss) 215   6,576   2.1   29,298   (77.6)  
Net Profit(Loss) Attributable to:                    
                   
Owners of Company 332 10,161 3.3 32,359 (68.6)  
Non-Controlling Interests (72) (2,201) (0.7) (2,101) 4.7  
                     
Net Profit(Loss) 260   7,960   2.6   30,258   (73.7)  
Total Comprehensive Income(Loss) Attributable to:                    
                   
Owners of Company 297 9,085 3.0 31,755 (71.4)  
Non-Controlling Interests (82) (2,509) (0.8) (2,456) 2.1  
                     
Total Comprehensive Income(Loss) 215   6,576   2.1   29,298   (77.6)  
                     
Basic Earnings Per Share 0.03 1.06     3.36      
Basic Earnings Per ADS(2)                    
0.34 10.56     33.62      
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 30.61 per USD as of December 31, 2018

 

   (2) 1 ADS equals 10 common shares

 

 

 

 

 

 

AU OPTRONICS CORP. AND SUBSIDIARIES

Consolidated Condensed Balance Sheets

December 31, 2018 and 2017

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

  

 

 

    December 31, 2018     December 31, 2017   YoY  
ASSETS USD   NTD %   NTD %   NTD %
Cash and Cash Equivalents   2,260 69,163 16.9 105,021 23.8 (35,857) (34.1)
Notes & Accounts Receivables 1,549 47,415 11.6 40,645 9.2 6,770 16.7
Other Current Financial Assets 104 3,169 0.8 589 0.1 2,581 438.4
Inventories 859 26,309 6.4 24,854 5.6 1,455 5.9
Other Current Assets 98   3,011 0.7   9,067 2.1   (6,056) (66.8)
Total Current Assets 4,870   149,068 36.4   180,176 40.8   (31,108) (17.3)
Long-term Investments 433 13,266 3.2 9,945 2.3 3,320 33.4
Net Fixed Assets 7,239 221,586 54.1 224,933 51.0 (3,347) (1.5)
Other Non-Current Assets 847   25,912 6.3   26,397 6.0   (485) (1.8)
Total Non-Current Assets 8,519   260,764 63.6   261,276 59.2   (512) (0.2)
Total Assets 13,389   409,832 100.0   441,451 100.0   (31,620) (7.2)
LIABILITIES                    
Short-term Borrowings   18 546 0.1 3,424 0.8 (2,878) (84.0)
Accounts Payable 1,916 58,649 14.3 54,575 12.4 4,074 7.5
Current Installments of Long-term Borrowings 967 29,596 7.2 8,155 1.8 21,441 262.9
Current Financial Liabilities 1 22 0.0 107 0.0 (84) (79.3)
Accrued Expense & Other Current Liabilities 944 28,893 7.1 28,845 6.5 49 0.2
Machinery and Equipment Payable 367   11,231 2.7   12,131 2.7   (900) (7.4)
Total Current Liabilities 4,212   128,938 31.5   107,237 24.3   21,701 20.2
Long-term Borrowings 1,853 56,709 13.8 102,453 23.2 (45,743) (44.6)
Other Non-Current Liabilities 226   6,906 1.7   6,517 1.5   389 6.0
Total Non-Current Liabilities 2,078   63,615 15.5   108,970 24.7   (45,354) (41.6)
Total Liabilities 6,291   192,553 47.0 216,206 49.0 (23,653) (10.9)
EQUITY                    
Common Stock   3,144 96,242 23.5 96,242 21.8 0 0.0
Capital Surplus 1,980 60,622 14.8 60,540 13.7 82 0.1
Retained Earnings 1,530 46,846 11.4 51,116 11.6 (4,270) (8.4)
Other Equity (28) (848) (0.2) 256 0.1 (1,104) －
Non-Controlling Interests 471   14,416 3.5   17,091 3.9   (2,675) (15.7)
Total Equity 7,098 217,279 53.0 225,245 51.0 (7,966) (3.5)
Total Liabilities & Equity 13,389   409,832 100.0   441,451 100.0   (31,620) (7.2)

 

 

Note: (1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.61 per USD as of December 31, 2018

 

   (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 December 31, 2018 and 2017

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

  

 

 

  FY 2018     FY 2017  
               
  USD NTD   NTD  
Cash Flow from Operating Activities:              
             
Profit(Loss) before Income Taxes 366     11,216 39,364  
Depreciation & Amortization 1,118     34,228 36,430  
Share of Profit of Equity-Accounted Investees (10)     (312) (239)  
Changes in Working Capital (90)     (2,768) 8,789  
Changes in Others (71)     (2,163) 20  
               
Net Cash Provided(Used) by Operating Activities 1,313     40,201 84,363  
Cash Flow from Investing Activities:              
Acquisitions of Financial Assets Measured at Fair Value (195)     (5,962) (187)  
Proceeds from Disposal of Financial Assets Measured at Fair Value 32     984 0  
Acquisitions of Financial Assets Carried at Cost 0     0 (14)  
Proceeds from Return of Capital by Financial Assets Carried at Cost 0     0 32  
Acquisitions of Equity-Accounted Investees (22)     (685) (397)  
Proceeds from return of capital by equity-accounted investees 3     99 0  
Acquisitions of Property, Plant and Equipment (1,136)     (34,770) (43,882)  
Proceeds from Disposal of Property, Plant and Equipment 209     6,408 1,150  
Decrease(Increase) in Other Financial Assets (0)     (5) (44)  
Decrease(Increase) in Intangible Assets 0     0 (197)  
Decrease(Increase) in Other Assets (6)     (170) (404)  
Net Cash Increase(Decrease) Resulting from Change in Consolidated Entity (13)     (397) 276  
               
Net Cash Provided(Used) in Investing Activities (1,127)     (34,498) (43,667)  
Cash Flow from Financing Activities:              
Increase(Decrease) in Short-term Borrowings (92)     (2,818) 2,904  
Increase(Decrease) in Long-term Borrowings (799)     (24,465) (12,571)  
Increase(Decrease) in Guarantee Deposits (0)     (13) (35)  
Cash Dividends (472)     (14,436) (5,390)  
Changes in Non-Controlling Interests and Others (4)     (114) 1,681  
               
Net Cash Provided(Used) by Financing Activities (1,367)     (41,847) (13,410)  
Effect of Exchange Rate Changes on Cash and Cash Equivalents 9     286 (2,456)  
               
Net Increase(Decrease) in Cash and Cash Equivalents (1,171)     (35,857) 24,829  
Cash and Cash Equivalents at Beginning of Period 3,431     105,021 80,191  
               
Cash and Cash Equivalents at End of Period 2,260   69,163 105,021

 

 

Note: (1) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 30.61 per USD as of December 31, 2018