FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
of the
Securities Exchange Act of 1934
Date: January 29, 2016
Commission File Number 001-16125
Advanced
Semiconductor Engineering, Inc.
( Exact name
of Registrant as specified in its charter)
26 Chin
Third Road
Nantze
Export Processing Zone
Kaoshiung,
Taiwan
Republic
of China
(Address
of principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
X Form 40-F ___
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
____
Note: Regulation S-T Rule
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holders.
Indicate by check mark if the
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____
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or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the
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pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Signatures
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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ADVANCED
SEMICONDUCTOR
ENGINEERING, INC. |
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| Date: January 29, 2016 |
By: |
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/s/
Joseph Tung |
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Name: |
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Joseph Tung |
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Title: |
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Chief Financial Officer |
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| Advanced Semiconductor
Engineering, Inc. |
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FOR IMMEDIATE RELEASE
IR Contact:
|
Michelle Jao,
Manager
mjao@iselabs.com
Tel: +1.510.687.2481
http://www.aseglobal.com
|
Grace Teng,
Manager
grace_teng@aseglobal.com
Tel: +886.2.6636.5678 |
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ADVANCED
SEMICONDUCTOR ENGINEERING, INC. REPORTS UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR OF 2015
Taipei,
Taiwan, R.O.C., January 29, 2016 – Advanced Semiconductor Engineering, Inc. (TAIEX: 2311, NYSE: ASX) (“We”, “ASE”,
or the “Company”), the world’s largest independent provider of packaging and testing services reported unaudited
consolidated financial results for the fourth quarter and full year of 2015 at an earnings release conference earlier today. As
the Company’s equity method investee Siliconware Precision Industries Co., Ltd. (“SPIL”) announced its fourth
quarter and full year of 2015 on the same day, the Company hereby amends and restates the previously announced unaudited financial
results in their entirety to reflect SPIL’s latest publicly announced financial results as follows: Unaudited net revenues1
of NT$75,548 million for the fourth quarter of 2015 (4Q15), down by 1% year-over-year and up by 4% sequentially. Net income attributable
to shareholders of the parent for the quarter totaled NT$4,562 million, down from a net income attributable to shareholders of
the parent of NT$7,864 million in 4Q14 and down from a net income attributable to shareholders of the parent of NT$6,368 million
in 3Q15. Basic earnings per share for the quarter were NT$0.60 (or US$0.092 per ADS), compared to basic earnings per share of NT$1.02
for 4Q14 and NT$0.83 for 3Q15. Diluted earnings per share for the quarter were NT$0.58 (or US$0.089 per ADS), compared to diluted
earnings per share of NT$0.99 for 4Q14 and NT$0.69 for 3Q15.
For
the full year of 2015, the Company reported net revenues of NT$283,302 million and net income attributable to shareholders of the
parent of NT$19,051 million. Basic earnings per share for the full year of 2015 were NT$2.49 (or US$0.393 per ADS). Diluted earnings
per share for the full year of 2015 were NT$2.39 (or US$0.378 per ADS).
RESULTS
OF OPERATIONS
4Q15
Results Highlights – Consolidated
| l | Net revenue contribution
from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented approximately
39%, 8%, 52%, 1% and 0%, respectively, of total net revenues for the quarter. |
| l | Cost of revenue was NT$62,265
million for the quarter, up by 3% year-over-year and up from |
1
All financial information presented in this press release is unaudited, consolidated and prepared in accordance with Taiwan-IFRS
(International Financial Reporting Standards as endorsed for use in the R.O.C.). Such financial information is generated internally
by us, and has not been subjected to the same review and scrutiny, including internal auditing procedures and audit by our independent
auditors, to which we subject our audited consolidated financial statements, and may vary materially from the audited consolidated
financial information for the same period. Any evaluation of the financial information presented in this press release should also
take into account our published audited consolidated financial statements and the notes to those statements. In addition, the financial
information presented is not necessarily indicative of our results of operations for any future period.
| Advanced Semiconductor Engineering, Inc. | |
NT$59,883
million in 3Q15.
| - | Raw material cost totaled NT$39,042 million
during the quarter, representing 52% of total net revenues, compared with NT$37,086 million and 51% of total net revenues in 3Q15. |
| - | Labor cost totaled NT$8,613 million during
the quarter, representing 11% of total net revenues, compared with NT$8,742 million and 12% of total net revenues in 3Q15. |
| - | Depreciation, amortization and rental expenses
totaled NT$6,967 million during the quarter, up by 2% year-over-year and down by 2% sequentially. |
| l | Gross margin decreased
0.2 percentage points to 17.6% in 4Q15 from 17.8% in 3Q15. |
| l | Total operating expenses
during 4Q15 were NT$6,440 million, including NT$2,804 million in R&D and NT$3,636 million in SG&A, compared with total
operating expenses of NT$6,605 million in 3Q15. Total operating expenses as a percentage of net revenues were 9% in 4Q15, remained
the same as 4Q14 and 3Q15. |
| l | Operating income for the
quarter totaled NT$6,843 million, up from NT$6,382 million in 3Q15. Operating margin was 9.1% in 4Q15 compared to 8.8% in 3Q15. |
| l | In terms of non-operating
items: |
| - | Net interest expense was NT$538 million,
up from NT$492 million in 3Q15. |
| - | Net foreign exchange gain of NT$428 million
was primarily attributable to the depreciation of the U.S. dollar against the NT dollar. |
| - | Loss on equity-method investments of NT$40
million was primarily attributable to the share of profit from our investment in SPIL.2 |
| - | Loss on valuation of financial assets and liabilities was NT$722 million. |
| - | Other net non-operating income of NT$179 million was primarily related to miscellaneous income.
Total non-operating expenses for the quarter were NT$693 million, compared to total non-operating expenses of NT$268 million for
4Q14 and total non-operating income of NT$1,428 million for 3Q15. |
| l | Income before tax was
NT$6,150 million for 4Q15, compared to NT$7,810 million in 3Q15. We recorded income tax expenses of NT$1,266 million during the
quarter, compared to NT$1,127 million in 3Q15. |
| l | In 4Q15, net income attributable
to shareholders of the parent was NT$4,562 million, compared to net income attributable to shareholders of the parent of NT$7,864
million for 4Q14 and net income attributable to shareholders of the parent of NT$6,368 million for 3Q15. |
| l | Our total number of shares
outstanding at the end of the quarter was 7,909,741,896, including treasury stock owned by our subsidiaries. Our 4Q15 basic earnings
per share of NT$0.60 (or US$0.092 per ADS) were based on 7,642,022,605 weighted average number of shares outstanding in 4Q15. Our
4Q15 diluted earnings per share of NT$0.58 (or US$0.089 per ADS) were based on 7,839,518,350 weighted average number of shares
outstanding in 4Q15. |
4Q15
Results Highlights – IC ATM3
| l | Net revenue contribution
from IC ATM operations was NT$38,406 million for the quarter, down by 12% year-over-year and down by 4% sequentially. Net revenue
contribution from packaging operations, testing operations, substrates sold to third parties and others was NT$31,121 million,
NT$6,356 million, NT$910 million, and NT$19 million, respectively, and each represented approximately 81%, 17%, 2% and 0%, respectively,
of total net revenues |
2
The audited financial statements of SPIL are unavailable. The share of profit from our investment in SPIL is based on SPIL’s
public announcement.
3
ATM stands for Semiconductor Assembly, Testing and Material.
| Advanced Semiconductor Engineering, Inc. | |
for
the quarter.
| l | Cost of revenues was NT$28,414
million for the quarter, down by 6% year-over-year and down by 3% sequentially. |
| - | Raw material cost totaled NT$8,305 million
during the quarter, representing 22% of total net revenues, compared with NT$8,641 million and 22% of total net revenues in 3Q15. |
| - | Labor cost totaled NT$7,281 million during
the quarter, representing 19% of total net revenues, compared with NT$7,442 million and 19% of total net revenues in 3Q15. |
| - | Depreciation, amortization and rental expenses
totaled NT$6,323 million during the quarter, down by 2% year-over-year and down by 2% sequentially. |
| l | Gross margin decreased
0.7 percentage points to 26.0% in 4Q15 from 26.7% in 3Q15. |
| l | Total operating expenses
during 4Q15 were NT$4,637 million, including NT$2,072 million in R&D and NT$2,565 million in SG&A, compared with total
operating expenses of NT$5,007 million in 3Q15. Total operating expenses as a percentage of net revenues were 12% in 4Q15, up from
11% in 4Q14 and down from 13% in 3Q15. |
| l | Operating income for the
quarter totaled NT$5,355 million, down from NT$5,644 million in 3Q15. Operating margin was 13.9% in 4Q15 compared to 14.2% in 3Q15. |
4Q15
Results Highlights – EMS
| l | Net revenue contribution
from EMS operations for the quarter was NT$39,347 million, up by 6% year-over-year and up by 9% sequentially. |
| l | Cost of revenues for the
quarter was NT$36,473 million, up by 6% year-over-year and up by 10% sequentially. |
| - | Raw material cost totaled NT$30,870 million
during the quarter, representing 78% of total net revenues, compared with NT$28,234 million and 78% of total net revenues in 3Q15. |
| - | Labor cost totaled NT$1,332 million during
the quarter, representing 3% of total net revenues, compared with NT$1,300 million and 4% of total net revenues in 3Q15. |
| - | Depreciation, amortization and rental expenses
totaled NT$681 million during the quarter, up by 83% year-over-year and up by 6% sequentially. |
| l | Gross margin decreased
to 7.3% in 4Q15 from 8.3% in 3Q15. |
| l | Total operating expenses
during 4Q15 were NT$1,798 million, including NT$760 million in R&D and NT$1,038 million in SG&A, compared with total operating
expenses of NT$1,606 million in 3Q15. Total operating expenses as a percentage of net revenues were 5% in 4Q15, remained the same
as 4Q14 and up from 4% in 3Q15. |
| l | Operating income for the
quarter totaled NT$1,076 million, down from NT$1,379 million in 3Q15. Operating margin decreased to 2.7% in 4Q15 from 3.8% in 3Q15. |
2015
Full-Year Results Highlights – Consolidated
| l | Net revenues for the full
year of 2015 amounted to NT$283,302 million, up by 10% from 2014. The revenue contribution from packaging operations, testing operations,
EMS operations, substrates sold to third parties and others represented approximately 41%, 9%, 49%, 1% and 0%, respectively, of
total net revenues for the year. |
| l | Cost of revenue for the
year of 2015 was NT$233,153 million, compared with NT$203,002 million in 2014. |
| - | Raw material cost totaled NT$141,779 million
during the year, representing 50% of total net revenues, compared with NT$116,999 million and 46% of total net revenues in the
2014. |
| Advanced Semiconductor Engineering, Inc. | |
| - | Labor cost totaled NT$34,706 million during
the year, representing 12% of total net revenues, compared with NT$33,243 million and 13% of total net revenues in 2014. |
| - | Depreciation, amortization and rental expenses
totaled NT$28,192 million during the year, representing 10% of total net revenues, compared with NT$25,387 million and 10% of total
net revenues in 2014. |
| l | Gross margin decreased
3.2 percentage points to 17.7% in 2015 from 20.9% in 2014. |
| l | Total operating expenses
during 2015 were NT$25,223 million, including NT$10,928 million in R&D and NT$14,295 million in SG&A. Total operating expenses
as a percentage of net revenues were 9% in 2015, and remained the same as 2014. |
| l | Operating income for the
year was NT$24,926 million, compared to operating income of NT$ 29,646 million for the previous year. Operating margin decreased
to 8.8% in 2015 from 11.6% in 2014. |
| l | Total non-operating expenses
for the year were NT$60 million, compared to total non-operating expenses of NT$1,098 million for 2014. |
| l | Income before tax was
NT$24,866 million for 2015. We recognized an income tax expense of NT$4,845 million during the year. |
| l | In 2015, net income attributable
to shareholders of the parent amounted to NT$19,051 million, compared with a net income attributable to shareholders of the parent
of NT$23,637 million in 2014. |
| l | Our total number of shares
outstanding at the end of the year was 7,909,741,896, including treasury stock owned by our subsidiaries. Our 2015 basic earnings
per share of NT$2.49 (or US$0.393 per ADS) were based on 7,652,772,685 weighted average number of shares outstanding in 2015. Our
2015 diluted earnings per share of NT$2.39 (or US$0.378 per ADS) were based on 8,249,519,459 weighted average number of shares
outstanding in 2015. |
2015
Full-Year Results Highlights – IC ATM
| l | Net revenue contribution
from IC ATM operations for the full year of 2015 amounted to NT$154,544 million, down by 3% from 2014. The revenue contribution
from packaging operations, testing operations, substrates sold to third parties and others was NT$125,714 million, NT$25,192 million,
NT$3,564 million, and NT$74 million, respectively, and represented approximately 82%, 16%, 2%, and 0%, respectively, of total net
revenues for the year. |
| l | Cost of revenues for the
full year of 2015 was NT$114,402 million, compared with NT$115,006 million in 2014. |
| - | Raw material cost totaled NT$33,745 million
during the year, representing 22% of total net revenues, compared with NT$36,409 million and 23% of total net revenues in 2014. |
| - | Labor cost totaled NT$29,371 million during
the year, representing 19% of total net revenues, compared with NT$29,519 million and 18% of total net revenues in 2014. |
| - | Depreciation, amortization and rental expenses
totaled NT$25,867 million during the year, representing 17% of total net revenues, compared with NT$24,189 million and 15% of total
net revenues in 2014. |
| l | Gross margin decreased
to 26.0% in 2015 from 28.0% in 2014. |
| l | Total operating expenses
during 2015 were NT$18,496 million, including NT$8,075 million in R&D and NT$10,421 million in SG&A. Total operating expenses
as a percentage of net revenues was 12% in 2015, up from 11% in 2014. |
| l | Operating income for the
year was NT$21,646 million, compared to operating income of |
| Advanced Semiconductor Engineering, Inc. | |
NT$26,500 million for 2014.
Operating margin decreased to 14.0% in 2015 from 16.6% in 2014.
2015
Full-Year Results Highlights – EMS
| l | Net revenue contribution
from EMS operations for the full year of 2015 amounted to NT$138,428 million, up by 31% from 2014. |
| l | Cost of revenues was NT$128,098
million, up by 33% from 2014. |
| - | Raw material cost totaled NT$107,586 million
during the year, representing 78% of total net revenues, compared with NT$80,638 million and 76% of total net revenues in 2014. |
| - | Labor cost totaled NT$5,335 million during
the year, representing 4% of total net revenues, compared with NT$3,724 million and 4% of total net revenues in 2014. |
| - | Depreciation, amortization and rental expenses
totaled NT$2,469 million during the year, representing 2% of total net revenues, compared with NT$1,169 million and 1% of total
net revenues in 2014. |
| l | Gross margin decreased
to 7.5% in 2015 from 8.8% in 2014. |
| l | Total operating expenses
during 2015 were NT$6,724 million, including NT$2,950 million in R&D and NT$3,774 million in SG&A. Total operating expenses
as a percentage of net revenues was 5% in 2015, and remained the same as 2014. |
| l | Operating income for the
year was NT$3,606 million, compared to operating income of NT$3,666 million for 2014. Operating margin decreased to 2.6% in 2015
from 3.5% in 2014. |
LIQUIdiTY
AND CAPITAL RESOURCES
| l | As of December 31, 2015,
our cash and current financial assets totaled NT$59,115 million, compared to NT$45,568 million as of September 30, 2015. |
| l | Capital expenditures in
4Q15 totaled US$90 million, of which US$64 million were used for packaging, US$18 million for testing, US$5 million for EMS and
US$3 million for interconnect materials. |
| l | For the full year of 2015,
we spent US$583 million for capital expenditures, including US$353 million for packaging, US$138 million for testing, US$72 million
for EMS, US$18 million for interconnect materials and US$2 million for real estate. |
| l | As of December 31, 2015,
we had total debt of NT$120,361 million, compared to NT$124,546 million as of September 30, 2015. Total debt consisted of NT$36,983
million of short-term borrowings, NT$16,843 million of the current portion of bonds payable, long-term borrowings and capital lease
obligations and NT$66,535 million of bonds payable, long-term borrowings and capital lease obligations. Total unused credit lines
amounted to NT$159,253 million. |
| l | Current ratio as of December
31, 2015 was 1.30, compared to 1.31 as of September 30, 2015. Net debt to equity ratio was 0.36 as of December 31, 2015. |
| l | Total number of employees
was 65,695 as of December 31, 2015, compared to 68,100 as of December 31, 2014 and 67,116 as of September 30, 2015. |
Business
Review
Packaging
Operations4
| l | Net revenues generated
from our packaging operations were NT$31,121 million during the quarter, down by NT$5,238 million, or by 14% year-over-year, and
down by NT$1,368 |
4
IC packaging services include module assembly services.
| Advanced Semiconductor Engineering, Inc. | |
million,
or by 4% sequentially.
| l | Net revenues from advanced
packaging accounted for 33% of our total packaging net revenues during the quarter, down by 1 percentage point from 3Q15. Net revenues
from IC wirebonding accounted for 58% of our total packaging net revenues during the quarter, up by 2 percentage points from 3Q15.
Net revenues from discrete and others accounted for 9% of our total packaging net revenues during the quarter, down by 1 percentage
point from 3Q15. |
| l | Gross margin for our packaging
operations during the quarter was 23.6%, down by 6.0 percentage points year-over-year and down by 1.2 percentage points from 3Q15. |
| l | Capital expenditures for
our packaging operations amounted to US$64 million during the quarter, of which US$29 million were used for purchases of wafer
bumping and flip chip packaging equipment and US$35 million for common equipment purchases, including SiP equipment purchases. |
| l | As of December 31, 2015,
there were 15,568 wirebonders in operation. 1 wirebonder was added and 50 wirebonders were disposed of during the quarter. |
Testing
Operations
| l | Net revenues generated
from our testing operations were NT$6,356 million during the quarter, down by NT$307 million, or by 5% year-over-year, and down
by NT$70 million, or by 1% sequentially. |
| l | Final testing accounted
for 77% of our total testing net revenues, up by 1 percentage point from the previous quarter. Wafer sort accounted for 19% of
our total testing net revenues, down by 1 percentage point from 3Q15. Engineering testing accounted for 4% of our total testing
net revenues, remained the same as 3Q15. |
| l | Depreciation, amortization
and rental expense associated with our testing operations amounted to NT$1,676 million during the quarter, up from NT$1,669 million
in 4Q14 and down from NT$1,708 million in 3Q15. |
| l | In 4Q15, gross margin
for our testing operations was 37.6%, down by 1.3 percentage points year-over-year and up by 1.5 percentage point from the previous
quarter. |
| l | Capital expenditures for
our testing operations amounted to US$18 million during the quarter. |
| l | As of December 31, 2015,
there were 3,435 testers in operation. 55 new testers were added and 37 testers were disposed of during the quarter. |
EMS
Operations
| l | Net revenues generated
from our EMS operations were NT$39,347 million during the quarter, up by NT$2,127 million, or by 6% year-over-year, and up by NT$3,186
million, or by 9% sequentially. |
| l | Communications products
accounted for 64% of our total net revenues from EMS operations for the quarter, up by 8 percentage points from 3Q15. Computing
products accounted for 15% of our total net revenues from EMS operations, up by 2 percentage points from 3Q15. Consumer products
accounted for 11% of our total net revenues from EMS operations, down by 8 percentage points from 3Q15. Industrial products accounted
for 5% of our total net revenues from EMS operations, down by 2 percentage points from 3Q15. Automotive products accounted for
4% of our total net revenues from EMS operations, remained the same as the previous quarter. |
| l | In 4Q15, gross margin
for our EMS operations was 7.3%, down by 0.6 percentage points year-over-year and down by 1.0 percentage points from the previous
quarter. |
| l | Capital expenditures for
our EMS operations amounted to US$5 million during the quarter. |
| Advanced Semiconductor Engineering, Inc. | |
Substrate
Operations
| l | PBGA substrate manufactured
by ASE amounted to NT$1,981 million during the quarter, down by NT$302 million, or by 13% year-over-year, and up by NT$27 million,
or by 1% from 3Q15. Of the total output of NT$1,981 million, NT$798 million was from sales to external customers. |
| l | Gross margin for substrate
operations was 13.0% during the quarter, down by 6.2 percentage points year-over-year and up by 1.9 percentage points from 3Q15. |
| l | In 4Q15, our internal
substrate manufacturing operations supplied 25% (by value) of our total substrate requirements. |
Customers
IC
ATM consolidated Basis
| l | Our five largest customers
together accounted for approximately 37% of our total net revenues in 4Q15, compared to 42% in 4Q14 and 38% in 3Q15. One customer
accounted for more than 10% of our total net revenues in 4Q15. |
| l | Our top 10 customers contributed
54% of our total net revenues during the quarter, compared to 56% in 4Q14 and 53% in 3Q15. |
| l | Our customers that are
integrated device manufacturers, or IDMs, accounted for 33% of our total net revenues during the quarter, compared to 31% in 4Q14
and 35% in 3Q15. |
EMS
Basis
| l | Our five largest customers
together accounted for approximately 85% of our total net revenues in 4Q15, compared to 78% in 4Q14 and 85% in 3Q15. One customer
accounted for more than 10% of our total net revenues in 4Q15. |
| l | Our top 10 customers contributed
92% of our total net revenues during the quarter, compared to 88% in 4Q14 and 92% in 3Q15. |
outlook
Based on our current business outlook and
exchange rate assumptions, management projects overall performance for the first quarter of 2016 to be as follows:
| l | IC ATM capacity should stay flat and blended utilization
rate should be down high single digits sequentially; |
| l | IC ATM gross margin should be approaching 1Q14 levels; |
| l | EMS business should decline moderately on a year-over-year
basis; |
| l | EMS gross margin should decline slightly quarter-over-quarter. |
About ASE, Inc.
ASE, Inc. is the world's largest independent
provider of packaging services and testing services, including front-end engineering testing, wafer probing and final testing services.
With advanced technological capabilities and a global presence spanning Taiwan, China, Korea, Japan, Singapore, Malaysia and the
United States, ASE, Inc. has established a reputation for reliable, high quality products and services. For more information, please
visit our website at http://www.aseglobal.com.
Safe Harbor Notice
This press release contains "forward-looking
statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of
the United States Securities Exchange Act of 1934, as amended, including statements regarding our future results of operations
and business prospects. Although these forward-looking statements, which may include statements regarding our future results of
operations, financial condition or business
| Advanced Semiconductor Engineering, Inc. | |
prospects, are based on our own information
and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements,
which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify
these forward-looking statements in this press release. Our actual results of operations, financial condition or business prospects
may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including risks
associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment,
including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand
for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services
generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies
in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital
expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic
and political conditions; the recent global economic crisis; possible disruptions in commercial activities caused by natural or
human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and
other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our 2014
Annual Report on Form 20-F filed on March 18, 2015.
| Advanced Semiconductor Engineering, Inc. | |
Supplemental
Financial Information
IC
ATM Consolidated Operations
| Amounts in NT$ Millions |
4Q/15 |
3Q/15 |
4Q/14 |
| Net Revenues |
38,406 |
39,862 |
43,884 |
| Revenues by Application |
|
|
|
| Communication |
55% |
55% |
58% |
| Computer |
12% |
11% |
11% |
| Automotive, Consumer & Others |
33% |
34% |
31% |
| Revenues by Region |
|
|
|
| North America |
61% |
63% |
65% |
| Europe |
10% |
10% |
9% |
| Taiwan |
17% |
17% |
16% |
| Japan |
5% |
5% |
5% |
| Other Asia |
7% |
5% |
5% |
Packaging
Operations
| Amounts in NT$ Millions |
4Q/15 |
3Q/15 |
4Q/14 |
| Net Revenues |
31,121 |
32,489 |
36,359 |
| Revenues by Packaging Type |
|
|
|
| Advanced Packaging |
33% |
34% |
38% |
| IC Wirebonding |
58% |
56% |
53% |
| Discrete and Others |
9% |
10% |
9% |
| Capacity |
|
|
|
| CapEx (US$ Millions)* |
64 |
83 |
65 |
| Number of Wirebonders |
15,568 |
15,617 |
15,792 |
Testing
Operations
| Amounts in NT$ Millions |
4Q/15 |
3Q/15 |
4Q/14 |
| Net Revenues |
6,356 |
6,426 |
6,663 |
| Revenues by Testing Type |
|
|
|
| Final test |
77% |
76% |
75% |
| Wafer sort |
19% |
20% |
21% |
| Engineering test |
4% |
4% |
4% |
| Capacity |
|
|
|
| CapEx (US$ Millions)* |
18 |
25 |
26 |
| Number of Testers |
3,435 |
3,417 |
3,267 |
EMS
Operations
| Amounts in NT$ Millions |
4Q/15 |
3Q/15 |
4Q/14 |
| Net Revenues |
39,347 |
36,161 |
37,220 |
| Revenues by End Application |
|
|
|
| Communication |
64% |
56% |
67% |
| Computer |
15% |
13% |
13% |
| Consumer |
11% |
19% |
7% |
| Industrial |
5% |
7% |
8% |
| Automotive |
4% |
4% |
5% |
| Others |
1% |
1% |
0% |
| Capacity |
|
|
|
| CapEx (US$ Millions)* |
5 |
24 |
55 |
* Capital
expenditure excludes building construction costs.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of
Comprehensive Income Data5
(In NT$ millions,
except per share data)
(Unaudited)
| | |
For the three months ended | |
For the year ended |
| | |
Dec. 31
2015 | |
Sep. 30
2015 | |
Dec. 31
2014 | |
Dec. 31
2015 | |
Dec. 31
2014 |
| Net revenues: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Packaging | |
| 29,093 | | |
| 29,575 | | |
| 31,942 | | |
| 116,607 | | |
| 121,336 | |
| Testing | |
| 6,356 | | |
| 6,426 | | |
| 6,663 | | |
| 25,192 | | |
| 25,875 | |
| Direct Material | |
| 798 | | |
| 762 | | |
| 861 | | |
| 3,260 | | |
| 3,546 | |
| EMS | |
| 39,301 | | |
| 36,107 | | |
| 37,178 | | |
| 138,242 | | |
| 105,785 | |
| Others | |
| - | | |
| - | | |
| - | | |
| 1 | | |
| 49 | |
| Total net revenues | |
| 75,548 | | |
| 72,870 | | |
| 76,644 | | |
| 283,302 | | |
| 256,591 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (62,265 | ) | |
| (59,883 | ) | |
| (60,233 | ) | |
| (233,153 | ) | |
| (203,002 | ) |
| Gross profit | |
| 13,283 | | |
| 12,987 | | |
| 16,411 | | |
| 50,149 | | |
| 53,589 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| (2,804 | ) | |
| (2,844 | ) | |
| (2,769 | ) | |
| (10,928 | ) | |
| (10,290 | ) |
| Selling, general and administrative | |
| (3,636 | ) | |
| (3,761 | ) | |
| (3,795 | ) | |
| (14,295 | ) | |
| (13,653 | ) |
| Total operating expenses | |
| (6,440 | ) | |
| (6,605 | ) | |
| (6,564 | ) | |
| (25,223 | ) | |
| (23,943 | ) |
| Operating income | |
| 6,843 | | |
| 6,382 | | |
| 9,847 | | |
| 24,926 | | |
| 29,646 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net non-operating (expenses) income: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Interest expense - net | |
| (538 | ) | |
| (492 | ) | |
| (546 | ) | |
| (2,027 | ) | |
| (2,081 | ) |
| Foreign exchange gain (loss) | |
| 428 | | |
| (2,520 | ) | |
| (1,051 | ) | |
| (713 | ) | |
| (1,222 | ) |
| Gain (loss) on equity-method investments2 | |
| (40 | ) | |
| 29 | | |
| (28 | ) | |
| (61 | ) | |
| (109 | ) |
| Gain (loss) on valuation of financial assets and liabilities | |
| (722 | ) | |
| 4,502 | | |
| 1,190 | | |
| 2,462 | | |
| 1,840 | |
| Others | |
| 179 | | |
| (91 | ) | |
| 167 | | |
| 279 | | |
| 474 | |
| Total non-operating income (expenses) | |
| (693 | ) | |
| 1,428 | | |
| (268 | ) | |
| (60 | ) | |
| (1,098 | ) |
| Income before tax | |
| 6,150 | | |
| 7,810 | | |
| 9,579 | | |
| 24,866 | | |
| 28,548 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income tax expense | |
| (1,266 | ) | |
| (1,127 | ) | |
| (1,475 | ) | |
| (4,845 | ) | |
| (4,266 | ) |
Income from continuing operations and before noncontrolling interest
| |
| 4,884 | | |
| 6,683 | | |
| 8,104 | | |
| 20,021 | | |
| 24,282 | |
| Noncontrolling interest | |
| (322 | ) | |
| (315 | ) | |
| (240 | ) | |
| (970 | ) | |
| (645 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
Net income attributable to
shareholders of the parent | |
| 4,562 | | |
| 6,368 | | |
| 7,864 | | |
| 19,051 | | |
| 23,637 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
| Per share data: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Earnings (losses) per share | |
| | | |
| | | |
| | | |
| | | |
| | |
| – Basic | |
| NT$0.60 | | |
| NT$0.83 | | |
| NT$1.02 | | |
| NT$2.49 | | |
| NT$3.07 | |
| – Diluted | |
| NT$0.58 | | |
| NT$0.69 | | |
| NT$0.99 | | |
| NT$2.39 | | |
| NT$2.96 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Earnings (losses) per equivalent ADS | |
| | | |
| | | |
| | | |
| | | |
| | |
| – Basic | |
| US$0.092 | | |
| US$0.132 | | |
| US$0.167 | | |
| US$0.393 | | |
| US$0.509 | |
| – Diluted | |
| US$0.089 | | |
| US$0.109 | | |
| US$0.162 | | |
| US$0.378 | | |
| US$0.489 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
Number of weighted average shares used in
diluted EPS calculation (in thousands) | |
| 7,839,518 | | |
| 8,230,923 | | |
| 8,192,428 | | |
| 8,249,519 | | |
| 8,220,694 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
| Exchange rate (NT$ per US$1) | |
| 32.55 | | |
| 31.69 | | |
| 30.61 | | |
| 31.65 | | |
| 30.20 | |
5
Starting in 2015, we prepare financial statements in accordance
with Taiwan-IFRS 2013 version. Under Taiwan-IFRS 2013 version, the impact of some newly effected GAAP shall be retroactively applied.
The consolidated statements of comprehensive income for the three months and for the year ended December 31, 2014 have been adjusted
accordingly.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of
Comprehensive Income Data – IC ATM5
(In NT$ millions,
except per share data)
(Unaudited)
| | |
For the three months ended | |
For the year ended |
| | |
Dec. 31
2015 | |
Sep. 30
2015 | |
Dec. 31
2014 | |
Dec. 31
2015 | |
Dec. 31
2014 |
| Net revenues: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Packaging | |
| 31,121 | | |
| 32,489 | | |
| 36,359 | | |
| 125,714 | | |
| 130,287 | |
| Testing | |
| 6,356 | | |
| 6,426 | | |
| 6,663 | | |
| 25,192 | | |
| 25,875 | |
| Direct Material | |
| 910 | | |
| 928 | | |
| 862 | | |
| 3,564 | | |
| 3,550 | |
| Others | |
| 19 | | |
| 19 | | |
| - | | |
| 74 | | |
| - | |
| Total net revenues | |
| 38,406 | | |
| 39,862 | | |
| 43,884 | | |
| 154,544 | | |
| 159,712 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (28,414 | ) | |
| (29,211 | ) | |
| (30,112 | ) | |
| (114,402 | ) | |
| (115,006 | ) |
| Gross profit | |
| 9,992 | | |
| 10,651 | | |
| 13,772 | | |
| 40,142 | | |
| 44,706 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| (2,072 | ) | |
| (2,125 | ) | |
| (2,137 | ) | |
| (8,075 | ) | |
| (8,150 | ) |
| Selling, general and administrative | |
| (2,565 | ) | |
| (2,882 | ) | |
| (2,704 | ) | |
| (10,421 | ) | |
| (10,056 | ) |
| Total operating expenses | |
| (4,637 | ) | |
| (5,007 | ) | |
| (4,841 | ) | |
| (18,496 | ) | |
| (18,206 | ) |
| Operating income | |
| 5,355 | | |
| 5,644 | | |
| 8,931 | | |
| 21,646 | | |
| 26,500 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net non-operating (expenses) income: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Interest expense - net | |
| (584 | ) | |
| (540 | ) | |
| (547 | ) | |
| (2,143 | ) | |
| (2,141 | ) |
| Foreign exchange gain (loss) | |
| 364 | | |
| (1,837 | ) | |
| (1,005 | ) | |
| (311 | ) | |
| (1,199 | ) |
| Gain (loss) on equity-method investments2 | |
| 869 | | |
| (63 | ) | |
| 633 | | |
| 2,261 | | |
| 2,174 | |
| Gain (loss) on valuation of financial assets and liabilities | |
| (622 | ) | |
| 4,433 | | |
| 1,094 | | |
| 2,166 | | |
| 1,568 | |
| Others | |
| 336 | | |
| (204 | ) | |
| 167 | | |
| (9 | ) | |
| 599 | |
| Total non-operating income (expenses) | |
| 363 | | |
| 1,789 | | |
| 342 | | |
| 1,964 | | |
| 1,001 | |
| Income before tax | |
| 5,718 | | |
| 7,433 | | |
| 9,273 | | |
| 23,610 | | |
| 27,501 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income tax expense | |
| (1,105 | ) | |
| (1,016 | ) | |
| (1,344 | ) | |
| (4,367 | ) | |
| (3,675 | ) |
Income from continuing operations and before noncontrolling interest
| |
| 4,613 | | |
| 6,417 | | |
| 7,929 | | |
| 19,243 | | |
| 23,826 | |
| Noncontrolling interest | |
| (51 | ) | |
| (49 | ) | |
| (65 | ) | |
| (192 | ) | |
| (189 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to shareholders of the parent | |
| 4,562 | | |
| 6,368 | | |
| 7,864 | | |
| 19,051 | | |
| 23,637 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
| Per share data: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Earnings (losses) per share | |
| | | |
| | | |
| | | |
| | | |
| | |
| – Basic | |
| NT$0.60 | | |
| NT$0.83 | | |
| NT$1.02 | | |
| NT$2.49 | | |
| NT$3.07 | |
| – Diluted | |
| NT$0.58 | | |
| NT$0.69 | | |
| NT$0.99 | | |
| NT$2.39 | | |
| NT$2.96 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Number of weighted average shares used in diluted EPS calculation (in thousands) | |
| 7,839,518 | | |
| 8,230,923 | | |
| 8,192,428 | | |
| 8,249,519 | | |
| 8,220,694 | |
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of
Comprehensive Income Data – EMS5
(In NT$ millions,
except per share data)
(Unaudited)
| | |
For the three months ended | |
For the year ended |
| | |
Dec. 31
2015 | |
Sep. 30
2015 | |
Dec. 31
2014 | |
Dec. 31
2015 | |
Dec. 31
2014 |
| Net revenues: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total net revenues | |
| 39,347 | | |
| 36,161 | | |
| 37,220 | | |
| 138,428 | | |
| 105,871 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (36,473 | ) | |
| (33,176 | ) | |
| (34,293 | ) | |
| (128,098 | ) | |
| (96,556 | ) |
| Gross profit | |
| 2,874 | | |
| 2,985 | | |
| 2,927 | | |
| 10,330 | | |
| 9,315 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| (760 | ) | |
| (746 | ) | |
| (660 | ) | |
| (2,950 | ) | |
| (2,235 | ) |
| Selling, general and administrative | |
| (1,038 | ) | |
| (860 | ) | |
| (1,040 | ) | |
| (3,774 | ) | |
| (3,414 | ) |
| Total operating expenses | |
| (1,798 | ) | |
| (1,606 | ) | |
| (1,700 | ) | |
| (6,724 | ) | |
| (5,649 | ) |
| Operating income | |
| 1,076 | | |
| 1,379 | | |
| 1,227 | | |
| 3,606 | | |
| 3,666 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net non-operating (expenses) income: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total non-operating income | |
| (64 | ) | |
| (558 | ) | |
| 114 | | |
| 17 | | |
| 417 | |
| Income before tax | |
| 1,012 | | |
| 821 | | |
| 1,341 | | |
| 3,623 | | |
| 4,083 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income tax expense | |
| (170 | ) | |
| (120 | ) | |
| (140 | ) | |
| (510 | ) | |
| (622 | ) |
| Income from continuing operations and before noncontrolling interest | |
| 842 | | |
| 701 | | |
| 1,201 | | |
| 3,113 | | |
| 3,461 | |
| Noncontrolling interest | |
| (269 | ) | |
| (272 | ) | |
| (175 | ) | |
| (781 | ) | |
| (463 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to shareholders of the parent | |
| 573 | | |
| 429 | | |
| 1,026 | | |
| 2,332 | | |
| 2,998 | |
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Balance Sheet
Data
(In NT$ millions)
(Unaudited)
| | |
As of Dec. 31, 2015 | |
As of Sep. 30, 2015 |
| | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
| 55,251 | | |
| 42,410 | |
| Financial assets – current | |
| 3,864 | | |
| 3,158 | |
| Notes and accounts receivable | |
| 44,931 | | |
| 53,156 | |
| Inventories | |
| 48,972 | | |
| 52,706 | |
| Others | |
| 3,715 | | |
| 5,741 | |
| Total current assets | |
| 156,733 | | |
| 157,171 | |
| | |
| | | |
| | |
| Financial assets – non current & Investments – equity method2 | |
| 38,320 | | |
| 37,887 | |
| Property plant and equipment | |
| 149,997 | | |
| 152,981 | |
| Intangible assets | |
| 11,889 | | |
| 11,959 | |
| Prepaid lease payments | |
| 2,556 | | |
| 2,610 | |
| Others | |
| 5,765 | | |
| 5,844 | |
| Total assets | |
| 365,260 | | |
| 368,452 | |
| | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Short-term borrowings | |
| 36,983 | | |
| 45,747 | |
| Current portion of bonds payable | |
| 14,686 | | |
| 2,578 | |
| Current portion of long-term borrowings & capital lease obligations | |
| 2,157 | | |
| 2,028 | |
| Notes and accounts payable | |
| 34,139 | | |
| 39,700 | |
| Others | |
| 32,501 | | |
| 29,861 | |
| Total current liabilities | |
| 120,466 | | |
| 119,914 | |
| | |
| | | |
| | |
| Bonds payable | |
| 23,740 | | |
| 35,804 | |
| Long-term borrowings & capital lease obligations | |
| 42,795 | | |
| 38,389 | |
| Other liabilities | |
| 9,831 | | |
| 10,062 | |
| Total liabilities | |
| 196,832 | | |
| 204,169 | |
| Shareholders of the parent | |
| 156,924 | | |
| 153,529 | |
| | |
| | | |
| | |
| Noncontrolling interest | |
| 11,504 | | |
| 10,754 | |
| Total liabilities & shareholders’ equity | |
| 365,260 | | |
| 368,452 | |
| | |
| | | |
| | |
| | |
| | | |
| | |
| Current Ratio | |
| 1.30 | | |
| 1.31 | |
| Net Debt to Equity | |
| 0.36 | | |
| 0.48 | |
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