AUO Corporation ("AUO" or the "Company") (TWSE: 2409) today held its investor conference and announced its consolidated financial results for the third quarter of 2022(1).
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Consolidated revenues in the third quarter of 2022 were NT$49.73 billion, down by 20.9% quarter-over-quarter. AUO’s net loss attributable to owners of the Company for the third quarter of 2022 was NT$10.43 billion, with a basic EPS(2) of -NT$1.23.??
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In the third quarter of 2022, the total panel area shipment reached around 3.88 million square meters, down by 21.2% quarter-over-quarter and decreased by 39.9% year-over-year.
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Highlights of consolidated results for the third quarter of 2022
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Looking back to the third quarter, as channel inventory levels were higher-than-normal, combined with the impact to end market demand from global inflation and rising interest rates, market prices for panels were still on the decline and the Company’s panel area shipment decreased from the previous quarter. As a result, the Company’s revenues were NT$49.73 billion for the third quarter, down by 20.9% quarter-over-quarter, and the extent of losses had also became wider comparing to the previous quarter.
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Looking to the fourth quarter, it may still require some time for the industry supply and demand to return back to normal. Facing the industry downturn, the Company will continue to enhance its operational resilience through sound financial and operational management, monitoring inventory levels closely, as well as executing the biaxial transformation strategy, in order to deliver stable operating results in the long-term.
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(1) All financial information was prepared by the Company in accordance with Taiwan IFRS.
(2) Basic EPS in the third quarter of 2022 was calculated based on the weighted average outstanding shares of the reporting quarter (8,493 million shares).
(3) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.