United Microelectronics Corporation (UMC) reported consolidated revenue of NT$60.39 billion for the fourth quarter of 2024, a 0.2% sequential decrease but a 9.9% year-over-year increase. The gross margin for Q4 2024 was 30.4%, and net income attributable to shareholders was NT$8.50 billion, with earnings per ordinary share of NT$0.68 (US$0.104 per ADS).
For the full year 2024, UMC's revenue grew 4.4% year-on-year to NT$232.30 billion, driven by steady demand across communication, consumer, and computer segments. However, full-year net income attributable to shareholders declined by 22.6% to NT$47.21 billion, with earnings per ordinary share of NT$3.80 (US$0.580 per ADS).
The 22/28nm portfolio remained the largest contributor, with revenue increasing 15% in 2024, and tape-outs for 22nm products are accelerating. Wafer shipments increased 1.5% sequentially to 909K in Q4, though the utilization rate slightly declined to 70%.
For the first quarter of 2025, UMC expects wafer shipments to be flat quarter-over-quarter, with ASP in U.S. dollar terms also remaining flat. Gross margin is projected to be in the mid-20% range, and the capacity utilization rate is expected to be in the high 60% range. The 2025 cash-based CapEx budget is set at US$1.8 billion, a reduction from US$2.9 billion in 2024.
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