AUO Corporation ("AUO" or the "Company") (TWSE: 2409) today held its investor conference and announced its consolidated financial results for the second quarter of 2020(1).
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Consolidated revenues for the second quarter of 2020 were NT$63.50 billion, up by 18.3% quarter-over-quarter. AUO’s net loss attributable to owners of the Company for the second quarter of 2020 was NT$2.96 billion, with a basic EPS(2) of -NT$0.31.
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In the second quarter of 2020, large-sized panel(3) shipments totaled around 30.71 million units, up by 37.0% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 29.09 million units, down by 1.5% quarter-over-quarter.
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Highlights of consolidated results for the second quarter of 2020
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Looking back to the second quarter, the previously disrupted panel supply chain has progressively returned to normal. Stay-at-home economy continued to drive strong demand for related applications, leading to a jump of 18.3% in the Company’s quarterly revenues comparing to the previous quarter. As result, the extent of losses has further improved from the previous quarter. In terms of the financial structure of the Company, net debt to equity ratio was 27.2%, which is still maintained at a healthy status.
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Looking into the third quarter, as channel inventory is currently at a healthy level, restocking demand from customers is expected to continue. However, the impact from COVID-19 and other uncertainties on the economic outlook should still be closely observed. Meanwhile, the Company will keep focusing on its value transformation and field economy strategy, in the hopes that this approach will gradually deliver meaningful results in the near future.
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(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the second quarter of 2020 was calculated based on the weighted average outstanding shares of the reporting quarter (9,499 million shares).
(3) Large size refers to panels that are 10 inches and above.
(4) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.