AUO Corporation ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investor conference and announced its consolidated financial results for the fourth quarter and fiscal year of 2016(1).
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Consolidated revenues in the fourth quarter of 2016 were NT$91.85 billion, up by 6.8% from the previous quarter. AUO’s net profit for the fourth quarter of 2016 was NT$8.38 billion. Net profit attributable to owners of the Company was NT$8.97 billion, with a basic EPS(2) of NT$0.93.
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For the fiscal year of 2016, consolidated revenues totaled NT$329.09 billion, a decrease of 8.7% year-over-year. Net profit for the fiscal year of 2016 was NT$6.61 billion. Net profit attributable to owners of the Company was NT$7.82 billion, with a basic EPS(2) of NT$0.81.
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In the fourth quarter of 2016, large-sized panel(3) shipments reached around 28.32 million units, decreased by 3.2% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter exceeded 35.74 million units, down by 5.9% quarter-over-quarter. For the full year of 2016, large-sized panel shipments totaled around 110.48 million units, an increase of 4.6% from the previous year. Small and medium-sized panel shipments exceeded 153.97 million units, down by 10.9% year-over-year.
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Highlights of consolidated results for the fourth quarter of 2016：
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Highlights of consolidated results for the fiscal year of 2016：
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Looking back on the fourth quarter, the demand for panels has been quite robust, which has supported the upward trends for our panel prices. As a result, the Company performed remarkably in terms of revenues and profitability. AUO’s revenue for the fourth quarter achieved NT$91.85 billion, up by 6.8% from the previous quarter. Operating profit reached NT$11.56 billion, which doubled from the previous quarter. Net profit attributable to owners of the Company grew significantly by 83.1% from the previous quarter and reached NT$8.97 billion, which was the best performance since the third quarter of 2010. For the full year of 2016, operating profit and net profit attributable to owners of the Company were NT$12.34 billion and NT$7.82 billion, respectively, which mark the fourth consecutive year of profitability.
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In recent years, the Company has proactively reinforced its strength and long-term competitiveness. In 2016, AUO has fully grasped the opportunity of the upward business trend, and has successfully achieved profitable results for the fourth year in a row. This also demonstrates the fruitful results of the Company’s "value-oriented" strategy. Looking forward into 2017, new display applications continue to expand. The Company will appropriately optimize its high-end LCD capacity, reinforce the Company's growth momentum and provide the best total solution to customers with its professional skill and integrated services. The Company looks forward to march forward with its customers hand in hand on the path of value creation.
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(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 2016 were calculated based on the weighted average outstanding shares of the fiscal year of 2016 (9,624 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.