Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or 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):
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Note: Regulation S-T Rule 101(b)(7) only permits the submission
in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish
and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the
registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s
securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed
to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission
or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
If “Yes” is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b):
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:April 28, 2017
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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
:
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Iris Wu, Manager
irissh_wu@aseglobal.com
Tel: +886.2.6636.5678
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 FIRST QUARTER OF 2017
Taipei,
Taiwan, R.O.C., April 28, 2017 – Advanced Semiconductor Engineering, Inc. (TAIEX: 2311, NYSE: ASX) (“We”,
“ASE”, or the “Company”), among the world’s leading companies in semiconductor packaging and
testing, today reported unaudited net revenues
1
of
NT$66,551 million for the first quarter of 2017 (1Q17), up by 7% year-over-year and down by 14% sequentially. Net income
attributable to shareholders of the parent for the quarter totaled NT$2,569 million, down from a net income attributable to
shareholders of the parent of NT$3,882 million in 1Q16 and down from a net income attributable to shareholders of the parent
of NT$7,965 million in 4Q16. Basic earnings per share for the quarter were NT$0.33 (or US$0.054 per ADS), compared to basic
earnings per share of NT$0.51 for 1Q16 and NT$1.04 for 4Q16. Diluted earnings per share for the quarter were NT$0.30 (or
US$0.047 per ADS), compared to diluted earnings per share of NT$0.40 for 1Q16 and NT$0.88 for 4Q16.
RESULTS
OF OPERATIONS
1Q17
Results Highlights – Consolidated
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|
l
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Net revenue contribution
from packaging operations, testing operations, EMS operations, substrates sold to third parties and others, each represented approximately
45%, 10%, 44%, 1% and 0%, respectively, of total net revenues for the quarter.
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l
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Cost of revenue was NT$54,573
million for the quarter, down from NT$61,751 million in 4Q16.
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|
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-
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Raw
material cost totaled NT$31,285 million for the quarter, representing 47% of total net revenues.
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-
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Labor
cost totaled NT$8,857 million for the quarter, representing 13% of total net revenues.
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-
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Depreciation,
amortization and rental expenses totaled NT$6,937 million for the quarter.
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l
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Gross margin decreased
1.9 percentage points to 18.0% in 1Q17 from 19.9% in 4Q16.
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|
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l
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Operating margin was 7.9%
in 1Q17 compared to 10.5% in 4Q16.
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l
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In terms of non-operating
items:
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-
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Net
interest expense was NT$435 million.
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-
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Net
foreign exchange gain of NT$2,891 million was primarily attributable to the depreciation of the U.S. dollar against the NT dollar.
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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.
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Advanced Semiconductor Engineering, Inc.
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-
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Loss
on valuation of financial assets and liabilities was NT$3,964 million.
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-
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Net
loss on equity-method investments was NT$162 million, including NT$54 million of the share of loss from our investment in Siliconware
Precision Industries Co., Ltd
.
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-
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Other net non-operating income of NT$299 million were
primarily related to miscellaneous income. Total non-operating expenses for the quarter was NT$1,371 million.
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|
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l
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Income before tax was
NT$3,857 million for 1Q17, compared to NT$9,669 million in 4Q16. We recorded income tax expenses of NT$886 million for the quarter,
compared to NT$1,274 million in 4Q16.
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|
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l
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In 1Q17, net income attributable
to shareholders of the parent was NT$2,569 million, compared to net income attributable to shareholders of the parent of NT$3,882
million in 1Q16 and net income attributable to shareholders of the parent of NT$7,965 million in 4Q16.
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|
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l
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Our total number of shares outstanding at the end of the quarter was 8,273,546,046,
including treasury stock owned by our subsidiaries. Our 1Q17 basic earnings per share of NT$0.33 (or US$0.054 per ADS) were
based on 7,700,388,418 weighted average number of shares outstanding in 1Q17. Our 1Q17 diluted earnings per share of NT$0.30
(or US$0.047 per ADS) were based on 7,931,316,437 weighted average number of shares outstanding in 1Q17.
|
1Q17
Results Highlights – IC ATM
2
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|
l
|
Cost of revenues was NT$29,550
million for the quarter, down by 7% sequentially.
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-
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Raw
material cost totaled NT$8,698 million for the quarter, representing 23% of total net revenues.
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-
|
Labor
cost totaled NT$7,750 million for the quarter, representing 20% of total net revenues.
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-
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Depreciation,
amortization and rental expenses totaled NT$6,454 million for the quarter.
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l
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Gross margin decreased
3.8 percentage points to 23.0% in 1Q17 from 26.8% in 4Q16.
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l
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Operating margin was 10.4%
in 1Q17 compared to 14.7% in 4Q16.
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1Q17
Results Highlights – EMS
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l
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Cost of revenues for the
quarter was NT$26,249 million, down by 15% sequentially.
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-
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Raw
material cost totaled NT$22,631 million for the quarter, representing 77% of total net revenues.
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-
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Labor
cost totaled NT$1,097 million for the quarter, representing 4% of total net revenues.
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-
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Depreciation,
amortization and rental expenses totaled NT$502 million for the quarter.
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l
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Gross margin increased
to 10.6% in 1Q17 from 10.4% in 4Q16.
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|
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l
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Operating margin increased
to 4.2% in 1Q17 from 4.8% in 4Q16.
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LIQUIdiTY
AND CAPITAL RESOURCES
|
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l
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Capital expenditures in
1Q17 totaled US$155 million, of which US$120 million were used in packaging operations, US$31 million in testing operations, US$3
million in EMS operations and US$1 million in interconnect materials operations.
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l
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As of March 31, 2017,
total unused credit lines amounted to NT$183,034 million.
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l
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Current ratio was 1.38
and net debt to equity ratio was 0.30 as of March 31, 2017.
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2
ATM
stands for Semiconductor Assembly, Testing and Material.
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Advanced Semiconductor Engineering, Inc.
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l
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Total number of employees
was 66,164 as of March 31, 2017, compared to 66,711 as of December 31, 2016.
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Business
Review
Packaging
Operations
3
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l
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Gross margin for our packaging
operations during the quarter was 20.7%, down by 3.4 percentage points from 4Q16.
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l
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Capital expenditures for
our packaging operations amounted to US$120 million for the quarter, of which US$78 million were used in purchases of wafer bumping
and flip chip packaging equipment, and US$42 million were used in purchase of common equipment, SiP equipment and wirebond packaging
equipment.
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Testing
Operations
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l
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Depreciation, amortization
and rental expense associated with our testing operations amounted to NT$1,759 million during the quarter, up from NT$1,806 million
in 4Q17.
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l
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Gross margin for our testing
operations amounted to 33.4% during the quarter, down by 5.0 percentage points from 4Q16.
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l
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Capital expenditures for
our testing operations amounted to US$31 million during the quarter.
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EMS
Operations
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l
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Gross margin for our EMS
operations amounted to 10.6% during the quarter, up by 0.2 percentage points from 4Q16.
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l
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Capital expenditures for
our EMS operations amounted to US$3 million during the quarter.
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Substrate
Operations
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l
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PBGA substrate manufactured
by ASE amounted to NT$2,090 million for the quarter, down by NT$81 million, or by 4% from 4Q16. Of the total output of NT$2,090
million, NT$892 million was from sales to external customers.
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l
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Gross margin for substrate
operations was 12.0% for the quarter, down by 1.8 percentage points from 4Q16.
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l
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In 1Q17, our internal
substrate manufacturing operations supplied 27% (by value) of our total substrate requirements.
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Customers
IC
ATM consolidated Basis
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l
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Our five largest customers
together accounted for approximately 31% of our total net revenues in 1Q17, compared to 33% in 4Q16. No customer accounted for
more than 10% of our total net revenues in 1Q17.
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l
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Our top 10 customers contributed
47% of our total net revenues for the quarter, compare to 50% in 4Q16.
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l
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Our customers that are
integrated device manufacturers or IDMs accounted for 36% of our total net revenues for the quarter, compared to 35% in 4Q16.
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EMS
Basis
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l
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Our five largest customers
together accounted for approximately 81% of our total net revenues in 1Q17, compared to 83% in 4Q16. One customer accounted for
more than 10% of our total net revenues in 1Q17.
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3
IC packaging services include module assembly services.
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Advanced Semiconductor Engineering, Inc.
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l
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Our top 10 customers contributed
90% of our total net revenues during the quarter, compared to 91% in 4Q16.
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ASE-SPIL
Transaction Update
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l
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ASE and SPIL submitted the required materials
to the Taiwan Fair Trade Commission (the “TFTC”) on July 29, 2016 and the TFTC issued a no objection letter in respect
of the transaction.
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|
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l
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ASE and SPIL submitted the required materials
to the Ministry of Commerce of the People’s Republic of China ("MOFCOM") on August 25, 2016. MOFCOM formally accepted
the parties’ notification materials on December 14, 2016. On April 12, 2017, ASE received MOFCOM's notice extending its review
to Phase III review.
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l
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The parties are continuing to cooperate
with the U.S. Federal Trade Commission’s (“FTC”) investigation, and are working toward a goal of successfully
completing the investigation as soon as possible.
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outlook
Based on our current business outlook and
exchange rate assumptions, management projects overall performance for the second quarter of 2017 to be as follows:
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l
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IC ATM 2Q17 business and
gross margin should both be similar to previous quarter;
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l
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EMS 2Q17 business should
be similar to the average of 2Q16 and 3Q16 levels;
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l
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EMS 2Q17 gross margin
should be similar to previous quarter.
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About ASE, Inc.
ASE is among the world’s leading
companies in semiconductor packaging and testing sector, 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. Although these forward-looking statements, which may include statements
regarding our future results of operations, financial condition or business 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 uncertainties
as to whether we can complete the share exchange contemplated by a joint share exchange agreement between Siliconware Precision
Industries Co., Ltd. and us; 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 2016 Annual Report on Form 20-F filed on April 21, 2017.
Supplemental
Financial Information
IC
ATM Consolidated Operations
|
Amounts in NT$ Millions
|
1Q/17
|
4Q/16
|
1Q/16
|
|
Net
Revenues
|
38,385
|
43,463
|
35,543
|
|
Revenues
by Application
|
|
|
|
|
Communication
|
50%
|
53%
|
51%
|
|
Computer
|
11%
|
10%
|
12%
|
|
Automotive, Consumer & Others
|
39%
|
37%
|
37%
|
Packaging
Operations
|
Amounts in NT$ Millions
|
1Q/17
|
4Q/16
|
1Q/16
|
|
Net
Revenues
|
31,061
|
35,242
|
28,597
|
|
Revenues
by Packaging Type
|
|
|
|
|
Bumping, Flip Chip, WLP & SiP
|
31%
|
32%
|
29%
|
|
IC Wirebonding
|
58%
|
57%
|
62%
|
|
Discrete and Others
|
11%
|
11%
|
9%
|
|
Capacity
|
|
|
|
|
CapEx (US$ Millions)*
|
120
|
87
|
62
|
|
Number of Wirebonders
|
15,963
|
15,897
|
15,629
|
Testing
Operations
|
Amounts in NT$ Millions
|
1Q/17
|
4Q/16
|
1Q/16
|
|
Net
Revenues
|
6,365
|
7,303
|
5,995
|
|
Revenues
by Testing Type
|
|
|
|
|
Final test
|
81%
|
77%
|
78%
|
|
Wafer sort
|
15%
|
20%
|
18%
|
|
Engineering test
|
4%
|
3%
|
4%
|
|
Capacity
|
|
|
|
|
CapEx (US$ Millions)*
|
31
|
30
|
47
|
|
Number of Testers
|
3,782
|
3,739
|
3,453
|
EMS
Operations
|
Amounts in NT$ Millions
|
1Q/17
|
4Q/16
|
1Q/16
|
|
Net
Revenues
|
29,363
|
34,634
|
24,788
|
|
Revenues
by End Application
|
|
|
|
|
Communication
|
49%
|
53%
|
51%
|
|
Computer
|
15%
|
14%
|
19%
|
|
Consumer
|
22%
|
20%
|
15%
|
|
Industrial
|
7%
|
7%
|
7%
|
|
Automotive
|
6%
|
5%
|
7%
|
|
Others
|
1%
|
1%
|
1%
|
|
Capacity
|
|
|
|
|
CapEx (US$ Millions)*
|
3
|
6
|
2
|
*
Capital expenditure excludes building construction costs.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of
Comprehensive Income Data
(In NT$ millions, except per share data)
(Unaudited)
|
|
For the three months ended
|
|
|
|
Mar. 31
2017
|
|
Dec. 31
2016
|
|
Mar. 31
2016
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
Packaging
|
29,806
|
|
33,620
|
|
28,036
|
|
|
Testing
|
6,365
|
|
7,303
|
|
5,995
|
|
|
Direct Material
|
892
|
|
806
|
|
892
|
|
|
EMS
|
29,355
|
|
34,627
|
|
24,749
|
|
|
Others
|
133
|
|
772
|
|
2,699
|
|
|
Total net revenues
|
66,551
|
|
77,128
|
|
62,371
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(54,573)
|
|
(61,751)
|
|
(50,922)
|
|
|
Gross profit
|
11,978
|
|
15,377
|
|
11,449
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
Research and development
|
(2,763)
|
|
(3,091)
|
|
(2,608)
|
|
|
Selling, general and administrative
|
(3,987)
|
|
(4,153)
|
|
(3,635)
|
|
|
Total operating expenses
|
(6,750)
|
|
(7,244)
|
|
(6,243)
|
|
|
Operating income
|
5,228
|
|
8,133
|
|
5,206
|
|
|
|
|
|
|
|
|
|
|
Net non-operating (expenses) income:
|
|
|
|
|
|
|
|
Interest expense - net
|
(435)
|
|
(451)
|
|
(527)
|
|
|
Foreign exchange gain (loss)
|
2,891
|
|
(308)
|
|
881
|
|
|
Gain (loss) on valuation of financial assets and liabilities
|
(3,964)
|
|
1,940
|
|
(360)
|
|
|
Gain (loss) on equity-method
investments
4
|
(162)
|
|
427
|
|
103
|
|
|
Others
|
299
|
|
(72)
|
|
71
|
|
|
Total non-operating income (expenses)
|
(1,371)
|
|
1,536
|
|
168
|
|
|
Income before tax
|
3,857
|
|
9,669
|
|
5,374
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
(886)
|
|
(1,274)
|
|
(1,318)
|
|
|
Income from continuing operations and before noncontrolling
interest
|
2,971
|
|
8,395
|
|
4,056
|
|
|
Noncontrolling interest
|
(402)
|
|
(430)
|
|
(174)
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to shareholders
of the parent
|
2,569
|
|
7,965
|
|
3,882
|
|
|
|
|
|
|
|
|
|
|
Per share data:
|
|
|
|
|
|
|
|
Earnings (losses) per share
|
|
|
|
|
|
|
|
– Basic
|
NT$0.33
|
|
NT$1.04
|
|
NT$0.51
|
|
|
– Diluted
|
NT$0.30
|
|
NT$0.88
|
|
NT$0.40
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per equivalent ADS
|
|
|
|
|
|
|
|
– Basic
|
US$0.054
|
|
US$0.164
|
|
US$0.077
|
|
|
– Diluted
|
US$0.047
|
|
US$0.140
|
|
US$0.060
|
|
|
|
|
|
|
|
|
|
|
Number of weighted average shares used in diluted EPS
calculation (in thousands)
|
7,931,316
|
|
8,255,657
|
|
8,293,278
|
|
|
|
|
|
|
|
|
|
|
Exchange rate (NT$ per US$1)
|
31.20
|
|
31.62
|
|
33.07
|
|
|
|
|
|
|
|
|
|
4
As
of September 30, 2016, we have completed the identification of the difference between the cost of the investment
and our share of the net fair value of SPIL’s identifiable assets and liabilities. Accordingly, we retrospectively adjusted
the provisional amounts recognized at the acquisition dates in September 2015, March and April 2016, respectively.
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of
Comprehensive Income Data – IC ATM
(In NT$ millions, except per share data)
(Unaudited)
|
|
For the three months ended
|
|
|
|
Mar. 31
2017
|
|
Dec. 31
2016
|
|
Mar. 31
2016
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
Packaging
|
31,061
|
|
35,242
|
|
28,597
|
|
|
Testing
|
6,365
|
|
7,303
|
|
5,995
|
|
|
Direct Material
|
935
|
|
898
|
|
931
|
|
|
Others
|
24
|
|
20
|
|
20
|
|
|
Total net revenues
|
38,385
|
|
43,463
|
|
35,543
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(29,550)
|
|
(31,816)
|
|
(27,711)
|
|
|
Gross profit
|
8,835
|
|
11,647
|
|
7,832
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
Research and development
|
(2,000)
|
|
(2,269)
|
|
(1,922)
|
|
|
Selling, general and administrative
|
(2,850)
|
|
(3,003)
|
|
(2,688)
|
|
|
Total operating expenses
|
(4,850)
|
|
(5,272)
|
|
(4,610)
|
|
|
Operating income
|
3,985
|
|
6,375
|
|
3,222
|
|
|
|
|
|
|
|
|
|
|
Net non-operating (expenses) income:
|
|
|
|
|
|
|
|
Interest expense - net
|
(498)
|
|
(499)
|
|
(604)
|
|
|
Foreign exchange gain (loss)
|
2,868
|
|
(432)
|
|
834
|
|
|
Gain (loss) on valuation of financial assets and liabilities
|
(4,072)
|
|
1,881
|
|
(261)
|
|
|
Gain (loss) on equity-method investments
4
|
610
|
|
1,617
|
|
1,149
|
|
|
Others
|
325
|
|
104
|
|
124
|
|
|
Total non-operating income (expenses)
|
(767)
|
|
2,671
|
|
1,242
|
|
|
Income before tax
|
3,218
|
|
9,046
|
|
4,464
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
(570)
|
|
(967)
|
|
(529)
|
|
|
Income from continuing operations and before noncontrolling
interest
|
2,648
|
|
8,079
|
|
3,935
|
|
|
Noncontrolling interest
|
(79)
|
|
(114)
|
|
(53)
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to shareholders
of the parent
|
2,569
|
|
7,965
|
|
3,882
|
|
|
|
|
|
|
|
|
|
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Statement of
Comprehensive Income Data – EMS
(In NT$ millions, except per share data)
(Unaudited)
|
|
For the three months ended
|
|
|
|
Mar. 31
2017
|
|
Dec. 31
2016
|
|
Mar. 31
2016
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
Total net revenues
|
29,363
|
|
34,634
|
|
24,788
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(26,249)
|
|
(31,038)
|
|
(22,781)
|
|
|
Gross profit
|
3,114
|
|
3,596
|
|
2,007
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
Research and development
|
(780)
|
|
(840)
|
|
(710)
|
|
|
Selling, general and administrative
|
(1,101)
|
|
(1,099)
|
|
(920)
|
|
|
Total operating expenses
|
(1,881)
|
|
(1,939)
|
|
(1,630)
|
|
|
Operating income
|
1,233
|
|
1,657
|
|
377
|
|
|
|
|
|
|
|
|
|
|
Net non-operating (expenses) income:
|
|
|
|
|
|
|
|
Total non-operating income
|
217
|
|
114
|
|
78
|
|
|
Income before tax
|
1,450
|
|
1,771
|
|
455
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
(303)
|
|
(509)
|
|
(81)
|
|
|
Income from continuing operations andefore noncontrolling
interest
|
1,147
|
|
1,262
|
|
374
|
|
|
Noncontrolling interest
|
(313)
|
|
(305)
|
|
(108)
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to shareholders
of the parent
|
834
|
|
957
|
|
266
|
|
Advanced Semiconductor Engineering, Inc.
Summary of Consolidated Balance Sheet
Data
(In NT$ millions)
(Unaudited)
|
|
As of Mar. 31, 2017
|
|
As of Dec. 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
42,474
|
|
|
|
38,392
|
|
|
Financial assets – current
|
|
|
3,720
|
|
|
|
3,895
|
|
|
Notes and accounts receivable
|
|
|
43,728
|
|
|
|
51,145
|
|
|
Inventories
|
|
|
42,616
|
|
|
|
45,626
|
|
|
Others
|
|
|
3,835
|
|
|
|
3,732
|
|
|
Total current assets
|
|
|
136,373
|
|
|
|
142,790
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets – non current & Investments – equity method
|
|
|
52,200
|
|
|
|
52,174
|
|
|
Property plant and equipment
|
|
|
140,072
|
|
|
|
143,880
|
|
|
Intangible assets
|
|
|
11,922
|
|
|
|
12,120
|
|
|
Prepaid lease payments
|
|
|
2,081
|
|
|
|
2,237
|
|
|
Others
|
|
|
4,901
|
|
|
|
4,742
|
|
|
Total assets
|
|
|
347,549
|
|
|
|
357,943
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
Short-term borrowings
|
|
|
13,400
|
|
|
|
20,956
|
|
|
Current portion of bonds payable
|
|
|
15,179
|
|
|
|
9,658
|
|
|
Current portion of long-term borrowings & capital lease obligations
|
|
|
7,218
|
|
|
|
6,683
|
|
|
Notes and accounts payable
|
|
|
30,621
|
|
|
|
35,804
|
|
|
Others
|
|
|
32,173
|
|
|
|
31,375
|
|
|
Total current liabilities
|
|
|
98,591
|
|
|
|
104,476
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds payable
|
|
|
28,476
|
|
|
|
27,342
|
|
|
Long-term borrowings & capital lease obligations
|
|
|
33,639
|
|
|
|
47,013
|
|
|
Other liabilities
|
|
|
10,053
|
|
|
|
9,765
|
|
|
Total liabilities
|
|
|
170,759
|
|
|
|
188,596
|
|
|
Shareholders of the parent
|
|
|
164,887
|
|
|
|
157,355
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncontrolling interest
|
|
|
11,903
|
|
|
|
11,992
|
|
|
Total liabilities & shareholders’ equity
|
|
|
347,549
|
|
|
|
357,943
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Ratio
|
|
|
1.38
|
|
|
|
1.37
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Debt to Equity
|
|
|
0.30
|
|
|
|
0.41
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|