UMC Reports NT$18.19B Revenue in Feb, Up 4.2% YoY

On March 6, United Microelectronics Corporation (UMC) released its financial report for February 2024, recording revenue of NT$18.194 billion. This represents an 8.1% decline from the previous month but a 4.2% increase compared to the same period last year. Despite reaching an eight-month low, this remains the second-highest February revenue in the company's history.

For the first two months of 2024, UMC's total revenue reached NT$38 billion, marking a 4.2% year-over-year growth.

During its previous earnings call, UMC projected that wafer shipments for Q1 2024 would remain stable compared to Q4 2023, with capacity utilization expected to hold around 70%. Looking ahead to Q1 2025, the company anticipates a single-digit percentage drop (4–6%) in its average selling price (ASP) in USD. Additionally, due to seasonal factors and the impact of recent earthquakes, the gross margin is expected to decline to just above 25%, the lowest level in four years.

On February 26, UMC's board of directors approved an employee compensation package of NT$4.51 billion (approximately RMB 998 million) for 2024. Based on an estimated 13,000 employees in Taiwan, this translates to an average bonus of NT$347,000 per employee. The board also approved NT$45 million in director compensation.

Furthermore, UMC has allocated NT$4.748 billion for capital expenditures to support capacity expansion. The company also approved a NT$16.29 million donation to the UMC Science and Culture Foundation.