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


January 29, 2015

Commission File Number     001-31335
 
.
AU Optronics Corp.
(Translation of registrant’s name into English)
 
No. 1 Li-Hsin Road 2
Hsinchu Science Park
Hsinchu, Taiwan
(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F x      Form 40-F o


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 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

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.

Yes o      No x

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Not applicable
 
 
 
 
 
INDEX TO EXHIBITS

Item
 
1.
Press release entitled, “AU Optronics Corp. Reports  Fourth 2014 Financial Results” dated January 29, 2015.
 
2.
Investor Conference Materials entitled, “AU Optronics Corp. Fourth Quarter 2014 Results”, dated January 29, 2015.
 
 
 
 
 
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.

 
 
AU Optronics Corp.
  
     
     
     
Date: January 29, 2015
By:
/s/ Andy Yang
  
   
Name:
Andy Yang
  
   
Title:
Chief Financial Officer
  
 
 
 
 
ITEM 1
 
News Release
 
 
AU Optronics Corp. Reports a 6-Year High Net Profit of NT$18.06 Billion for Fiscal Year 2014

Issued by: AU Optronics Corp.
Issued on: January 29, 2015
Hsinchu, Taiwan, January 29, 2015–

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investor conference and announced its unaudited consolidated financial results for the fourth quarter and fiscal year of 2014(1).

Consolidated revenues in the fourth quarter of 2014 were NT$105.45 billion, down 1.3% from the previous quarter. Gross profit was NT$15.62 billion, with gross margin of 14.8%. Operating profit was NT$8.82 billion, with the operating margin of 8.4%. AUO’s net profit for the fourth quarter of 2014 was NT$6.57 billion. Net profit attributable to owners of Company was NT$6.00 billion, with a basic EPS of NT$0.62(2).

For the fiscal year of 2014, unaudited consolidated revenues totaled NT$408.18 billion, a decrease of 2.0% year-over-year. Net profit was NT$18.06 billion, with a basic EPS of NT$1.83(2).

In the fourth quarter of 2014, large-sized panel(3) shipments exceeded 29.40 million units, down slightly by 0.3% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter surpassed 42.71 million units, down by 11.4% quarter-over-quarter. For the full year of 2014, large-sized panel shipments totaled around 116.92 million units, roughly flat from the previous year. Small and medium-sized panel shipments were around 170.71 million units, up by 11.9% compared to the previous year.

AUO’s unaudited consolidated results for the fourth quarter of 2014 were highlighted as below:
Ÿ
Revenues of NT$105.45 billion, down 1.3% quarter-over-quarter
Ÿ
Operating profit of NT$8.82 billion
Ÿ
Net profit of NT$6.57 billion
Ÿ
Basic EPS of NT$0.62(2)
 
 
 
1/3
 
 
Ÿ
Gross margin was 14.8%
Ÿ
Operating margin was 8.4%
Ÿ
EBITDA(4) margin was 21.2%

AUO’s unaudited consolidated results for the fiscal year of 2014 were highlighted as below:
Ÿ
Revenues of NT$408.18 billion, down 2.0% year-over-year
Ÿ
Operating profit of NT$22.17 billion
Ÿ
Net profit of NT$18.06 billion
Ÿ
Basic EPS of NT$1.83(2)
Ÿ
Gross margin was 11.9%
Ÿ
Operating margin was 5.4%
Ÿ
EBITDA(4) margin was 19.4%

Looking back to the fourth quarter, although IT and small-and-medium-sized panels have entered the period of seasonal adjustment, TV panel market remained strong  on the back of the inventory-stocking demand ahead of the Chinese Lunar New Year. Thanks to the depreciation of the New Taiwan Dollar and the appropriate cost control of the Company, AUO’s operating and EBITDA margin in the fourth quarter reached 8.4% and 21.2%, respectively. Its days of inventory also maintained a healthy level of 36 days. The company closed 2014 with a net profit of NT$18.06 billion, rising as much as 324.7% year-over-year to the highest in six years. In addition, management also endeavors to improve AUO’s financial structure. As a result, the Company’s total debt was reduced by NT$42.02 billion for the full year, and its net debt to equity ratio was lowered considerably to 30.3%, the lowest in four years.

Looking forward to 2015, AUO will enhance its high-quality production capacity through appropriate level of investments, and to continuously develop products with high cost-performance ratio to reach win-win cooperation with customers. Furthermore, the Company will proactively upgrade its existing technology base with a view to maintain its technology capability in the world’s leading group and with a hope to continuously transcend itself and create a positive cycle with long-term profitability. 


(1)
All financial information was unaudited and was prepared by the Company in accordance with Taiwan IFRS.
 
 
2/3
 

 
(2)
Basic EPS in the fourth quarter and the fiscal year of 2014 were calculated based on the weighted average outstanding shares of the fiscal year of 2014 (9,624 million shares).
(3)
Large size refers to panels that are 10 inches and above in diagonal measurement.
(4)
EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.


###


ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is one of the world’s leading providers of optoelectronic solutions. AUO offers a full range of panel sizes and comprehensive applications ranging from 1.5 inches to 75 inches. Based on its profound R&D and manufacturing experience, AUO continues to develop advanced display technologies of the next generation. AUO extended its market to the green energy industry in 2008. By building a vertically integrated high-efficiency solar value chain, AUO provides its customers with high-efficiency solar solutions. AUO currently has global operations in Taiwan, Mainland China, the U.S., Japan, South Korea, Singapore, the Netherlands, Czech and Slovakia. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO has also been named to Dow Jones Sustainability World Index for four consecutive years from 2010 to 2014. AUO’s unaudited consolidated revenues in 2014 were NT$408.18 billion.  For more information, please visit AUO.com.


Safe Harbor Notice
AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on March 21, 2014.


For more information, please contact:
Gwen Ting
  
Jessie Lee
Corporate Communications Division
  
Corporate Communications Division
AU Optronics Corp.
  
AU Optronics Corp.
Tel: +886-3-5008800 ext 7259
  
Tel: +886-3-5008800 ext 3206
Fax: +886-3-5772730
  
Fax: +886-3-5772730
Email: gwen.ting@auo.com
  
Email : jessie.jc.lee@auo.com
 
 
3/3
 
ITEM 2
 
[GRAPHIC OMITTED] AU Optronics Corp. Fourth Quarter 2014 Results Investor Conference 2014 Jan. 29, 2015
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Safe Harbor Notice [] The statements included in this presentation that are not historical in nature are "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements, which may include statements regarding AU Optronics' future results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on AU Optronics' current expectations. [] Actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our ability to successfully expand our capacity; our dependence on key personnel; general economic and political conditions, including those related to the TFT-LCD industry; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates. [] Beginning on January 1, 2013, we have adopted the International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS") to the extent endorsed by the ROC Financial Supervisory Commission ("FSC") ("Taiwan IFRS") for reporting our annual and interim consolidated financial statements in the ROC in accordance with the requirements of the FSC. All financial information contained herewithin is presented in conformity with Taiwan IFRS. Readers should be cautioned that Taiwan IFRS differs in many material respects from IFRS including to the extent that any new or amended standards or interpretations applicable under IFRS may not be timely endorsed by the FSC. [] Our release of financial forecasts and forward-looking statements at any particular time does not create any duty of disclosure beyond that which is imposed by law, and we expressly disclaim any obligation to publicly update or revise any forecasts or forward-looking statements, whether as a result of new information, future events or otherwise. [C] 2014 AU Optronics Corporation -- Proprietary and Confidential
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Statement of Comprehensive Income Selected Items from Statement of Comprehensive Income Amount : NT$ Million 4Q14 ========= ======= Net Sales 105,449 100.0% Cost of Goods Sold (89,828) (85.2%) Gross Profit 15,621 14.8% Operating Expenses (6,798) (6.4%) Operating Profit 8,823 8.4% Net Non-operating Income (Expenses) (890) (0.8%) Profit before Tax 7,933 7.5% Net Profit 6,575 6.2% Attributable to: Owners of Company 6,004 5.7% Non-controlling Interests 571 0.5% Net Profit 6,575 6.2% Basic EPS (NT$)(a) 0.62 ======================================== ========= ======= Operating Profit + DandA 22,339 21.2% ======================================== ========= ======= Display Segment Information: Net Sales 99,385 100.0% Operating Profit 9,225 9.3% Operating Profit + DandA 21,831 22.0% ======================================== ========= ======= Unit Shipments (mn)(b) Large Size Panels 29.4 Small and Medium Size Panels 42.7 ======================================== ========= ======= 3Q14 QoQ % ========= ======= ========= 106,886 100.0% (1.3%) (91,507) (85.6%) (1.8%) 15,379 14.4% 1.6% (6,602) (6.2%) 3.0% 8,777 8.2% 0.5% (1,209) (1.1%) (26.4%) 7,568 7.1% 4.8% 7,300 6.8% (9.9%) 7,332 6.9% (18.1%) (32) (0.0%) [] 7,300 6.8% (9.9%) 0.76 (18.1%) ==== ======= ========= 22,643 21.2% (1.3%) ==== ======= ========= 101,202 100.0% (1.8%) 9,216 9.1% 0.1% 22,138 21.9% (1.4%) ==== ======= ========= 29.5 (0.3%) 48.2 (11.4%) ==== ======= ========= 4Q13 ========= ======= 102,703 100.0% (95,048) (92.5%) 7,656 7.5% (6,581) (6.4%) 1,075 1.0% 471 0.5% 1,546 1.5% 1,081 1.1% 940 0.9% 141 0.1% 1,081 1.1% 0.10 ==== ======= 16,383 16.0% ==== ======= 97,162 100.0% 1,878 1.9% 16,175 16.6% ==== ======= 30.2 41.2 ==== ======= -- Unaudited, prepared by AUO based on Taiwan IFRS a) AUO issued new ADSs in May 2013. Basic EPS in both 4Q14 and 3Q14 were calculated based on the weighted average outstanding shares of 2014 (9,624m shares); Basic EPS in 4Q13 was calculated based on the weighted average outstanding shares of 2013 (9,349m shares). b) Large size refers to panels that are 10 inches and above [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 3
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Statement of Comprehensive Income Selected Items from Statement of Comprehensive Income Amount : NT$ Million FY 2014 =========== ======= Net Sales 408,179 100.0% Cost of Goods Sold (359,668) (88.1%) Gross Profit 48,511 11.9% Operating Expenses (26,345) (6.5%) Operating Profit 22,165 5.4% Net Non-operating Expenses (2,185) (0.5%) Profit before Tax 19,980 4.9% Net Profit 18,065 4.4% Attributable to: Owners of Company 17,628 4.3% Non-controlling Interests 436 0.1% Net Profit 18,065 4.4% Basic EPS (NT$)(a) 1.83 ============================ =========== ======= Operating Profit + DandA 79,068 19.4% ROE(b) 10.2% ============================ =========== ======= Display Segment Information: Net Sales 384,335 100.0% Operating Profit 24,423 6.4% Operating Profit + DandA 77,574 20.2% ============================ =========== ======= Unit Shipments (mn)(c) Large Size Panels 116.9 Small and Medium Size Panels 170.7 ============================ =========== ======= FY 2013 YoY % =========== ======= ======== 416,363 100.0% (2.0%) (382,379) (91.8%) (5.9%) 33,984 8.2% 42.7% (25,692) (6.2%) 2.5% 8,293 2.0% 167.3% (3,056) (0.7%) (28.5%) 5,236 1.3% 281.6% 4,253 1.0% 324.7% 4,180 1.0% 321.7% 73 0.0% 499.9% 4,253 1.0% 324.7% 0.45 309.6% =========== ======= ======== 71,930 17.3% 9.9% 2.7% 280.8% =========== ======= ======== 398,836 100.0% (3.6%) 12,018 3.0% 103.2% 71,668 18.0% 8.2% =========== ======= ======== 117.0 (0.0%) 152.5 11.9% =========== ======= ======== -- Unaudited, prepared by AUO based on Taiwan IFRS a) AUO issued new ADSs in May 2013. Basic EPS was calculated based on the weighted average outstanding shares of 9,624m shares in 2014 and 9,349m shares in 2013. b) ROE was based on average equity attributable to shareholders of the parent company c) Large size refers to panels that are 10 inches and above [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 4
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Consolidated Balance Sheet Highlights Amount : NT$ Million 4Q14 3Q14 ======== ======== Cash and ST Investment()a) 81,965 75,414 Inventory 36,420 35,287 Short Term Debt()b ) 56,998 45,783 Long Term Debt 85,689 105,954 Equity 200,370 188,766 Total Assets 469,860 460,391 ============================== ======== ======== Inventory Turnover (Days)()c) 36 35 Net Debt to Equity()d ) 30.3% 40.4% ============================== ======== ======== QoQ % 4Q13 ==== ======== 8.7% 76,312 3.2% 37,598 24.5% 66,220 (19.%) 118,488 6.1% 178,346 2.1% 492,243 ==== ======== 38 60.8% ==== ======== -- Unaudited, prepared by AUO based on Taiwan IFRS a) Excluding time deposit with maturity longer than 3 months (NT$ 2,100m in 4Q14 ,NT$2,000m in 3Q14, and NT$2,121m in 4Q13) b) Short term debt refers to all interest bearing debt maturing within one year c) Calculated by dividing the average inventory into the annualized cost of goods sold during such period, then multiplying by 365 days d) Net Debt to Equity = (Short Term Debt + Long Term Debt - Cash and ST Investment) / Equity [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 5
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Consolidated Cash Flow Highlights Amount : NT$ Million 4Q14 ========= From Operating Activities 17,873 Gain before Tax 7,933 Depreciation and Amortization 13,516 Net Change in Working Capital (3,787) From Investing Activities (1,540) Capital Expenditure (3,052) From Financing Activities (10,030) Net Change in Debt (9,888) Net Change in Cash()a) 6,552 3Q14 QoQ ==== ========= 19,655 (1,783) 7,568 365 13,865 (350) (1,697) (2,090) (2,768) 1,228 (3,374) 323 (18,432) 8,402 (17,065) 7,178 (1,122) 7,674 -- Unaudited, prepared by AUO based on Taiwan IFRS a) In addition to cash generated from operating, investing and financing activities, net change in cash also include effect on currency exchange of foreign subsidiaries [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 6
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Display Revenue Breakdown by Application [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS -- Mobile PC : including Notebook and Tablet displays -- Mobile Device : including displays for mobile phones and other related products -- Commercial and Others: including displays for automobile, industrial PC, ATM, point of sale (POS), pachinko, and etc. [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 7
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Display Revenue Breakdown by Size [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 8
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Consolidated Shipments and ASP by Area Shipments in square meter [GRAPHIC OMITTED] ASP per square meter [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS -- ASP per square meter in US$ was translated from NT$ based on average exchange rates announced by Customs Administration, Ministry of Finance of each respective quarter [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 9
 
 
 
 
 
 
 
[GRAPHIC OMITTED] Consolidated Small and Medium Panel Shipments by Area and Revenues Shipments in square meter [GRAPHIC OMITTED] Revenues [GRAPHIC OMITTED] -- Unaudited, prepared by AUO based on Taiwan IFRS -- Small and Medium size refers to panels that are under 10 inches [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 10
 
 
 
 
 
 
 
[GRAPHIC OMITTED] www.auo.com ir@auo.com [C] 2014 AU Optronics Corporation -- Proprietary and Confidential 11
 
 
 
 
 
 
AU OPTRONICS CORP.
CONSOLIDATED COMPREHENSIVE INCOME STATEMENT
For the Three Months Ended December 31, 2014 and 2013 and September 30, 2014
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)
 
    Year over Year Comparison     Sequential Comparison  
    4Q 2014     % of     4Q 2013     YoY     4Q 2014     % of     3Q 2014     QoQ  
   
USD
    
NTD
    
Sales
    
NTD
    
Chg %
    
USD
    
NTD
    
Sales
    
NTD
    
Chg %
  
                                                                                 
Net Sales
     3,337       105,449       100.0       102,703       2.7       3,337       105,449       100.0       106,886       (1.3 )
Cost of Goods Sold
     2,843       89,828       85.2       95,048       (5.5 )     2,843       89,828       85.2       91,507       (1.8 )
Gross Profit
     494       15,621       14.8       7,656       104.0       494       15,621       14.8       15,379       1.6  
                                                                                 
Operating Expenses
     215       6,798       6.4       6,581       3.3       215       6,798       6.4       6,602       3.0  
Operating Profit
     279       8,823       8.4       1,075       720.7       279       8,823       8.4       8,777       0.5  
                                                                                 
Net Non-Operating Income (Expense)
     (28 )     (890 )     (0.8 )     471    
－
       (28 )     (890 )     (0.8 )     (1,209 )     (26.4 )
                                                                               
Profit before Income Tax
     251       7,933       7.5       1,546       413.2       251       7,933       7.5       7,568       4.8  
                                                                                 
Income Tax Expense
     (43 )     (1,358 )     (1.3 )     (464 )     192.4       (43 )     (1,358 )     (1.3 )     (268 )     406.7  
Net Profit
     208       6,575       6.2       1,081       508.0       208       6,575       6.2       7,300       (9.9 )
                                                                                 
Other Comprehensive Income
     59       1,854       1.8       781       137.4       59       1,854       1.8       1,001       85.3  
Total Comprehensive Income
     267       8,429       8.0       1,862       352.6       267       8,429       8.0       8,301       1.5  
                                                                                 
Net Profit Attributable to:
                                                                                
Owners of Company
     190       6,004       5.7       940       538.4       190       6,004       5.7       7,332       (18.1 )
Non-controlling Interests
     18       571       0.5       141       305.1       18       571       0.5       (32 )  
－
  
Net Profit
     208       6,575       6.2       1,081       508.0       208       6,575       6.2       7,300       (9.9 )
                                                                                 
Total Comprehensive Income Attributable to:
                                                                                
Owners of Company
     236       7,462       7.1       1,582       371.8       236       7,462       7.1       8,114       (8.0 )
Non-controlling Interests
     31       967       0.9       281       244.7       31       967       0.9       187       416.2  
Total Comprehensive Income
     267       8,429       8.0       1,862       352.6       267       8,429       8.0       8,301       1.5  
                                                                                 
Basic Earnings Per Share
     0.02       0.62               0.10               0.02       0.62               0.76          
Basic Earnings Per ADS(3)
     0.20       6.24               1.01               0.20       6.24               7.62          
Weighted-Average Shares Outstanding ('M)
             9,624               9,349                       9,624               9,624          
 
Note:
(1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 31.60 per USD as of December 31, 2014
(3) 1 ADS equals 10 common shares
 
 
 
 
AU OPTRONICS CORP.
CONSOLIDATED INCOME STATEMENT
For the Year Ended December 31, 2014 and 2013
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)
 
    Year over Year Comparison  
   
2014
    
% of
    
2013
    
YoY
  
   
USD
    
NTD
    
Sales
    
NTD
    
Chg %
  
                                         
Net Sales
     12,917       408,179       100.0       416,363       (2.0 )
Cost of Goods Sold
     11,382       359,668       88.1       382,379       (5.9 )
Gross Profit
     1,535       48,511       11.9       33,984       42.7  
                                         
Operating Expenses
     834       26,345       6.5       25,692       2.5  
Operating Profit
     701       22,165       5.4       8,293       167.3  
                                         
Net Non-Operating Expenses
     (69 )     (2,185 )     (0.5 )     (3,056 )     (28.5 )
                                         
Profit before Income Tax
     632       19,980       4.9       5,236       281.6  
                                         
Income Tax Expense
     (61 )     (1,916 )     (0.5 )     (983 )     94.9  
Net Profit
     572       18,065       4.4       4,253       324.7  
                                         
Other Comprehensive Income
     59       1,878       0.5       2,610       (28.1 )
Total Comprehensive Income
     631       19,942       4.9       6,863       190.6  
                                         
Net Profit Attributable to:
                                        
Owners of Company
     558       17,628       4.3       4,180       321.7  
Non-controlling Interests
     14       436       0.1       73       499.9  
Net Profit
     572       18,065       4.4       4,253       324.7  
                                         
Total Comprehensive Income Attributable to:
                                        
Owners of Company
     604       19,087       4.7       6,355       200.3  
Non-controlling Interests
     27       855       0.2       508       68.3  
Total Comprehensive Income
     631       19,942       4.9       6,863       190.6  
                                         
Basic Earnings Per Share
     0.06       1.83               0.45          
Basic Earnings Per ADS(3)
     0.58       18.32               4.47          
Weighted-Average Shares Outstanding ('M)
             9,624               9,349          
 
Note:
(1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 31.60 per USD as of December 31, 2014
(3) 1 ADS equals 10 common shares
 
 
 
 
 
AU OPTRONICS CORP.
CONSOLIDATED BALANCE SHEET
December 31, 2014 and 2013
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) )

    December 31, 2014    
December 31, 2013
    
YoY
  
ASSETS
  
USD
    
NTD
    
%
    
NTD
    
%
    
Change
    
%
  
Cash and Cash Equivalents
     2,594       81,965       17.4       76,312       15.5       5,653       7.4  
Notes & Accounts Receivables
     1,887       59,621       12.7       43,727       8.9       15,894       36.3  
Other Current Financial Assets
     100       3,157       0.7       6,849       1.4       (3,691 )     (53.9 )
Inventories
     1,153       36,420       7.8       37,598       7.6       (1,178 )     (3.1 )
Other Current Assets
     141       4,450       0.9       5,118       1.0       (667 )     (13.0 )
Total Current Assets
     5,874       185,615       39.5       169,604       34.5       16,010       9.4  
                                                         
Long-term Investments
     471       14,874       3.2       14,055       2.9       819       5.8  
                                                         
Net Fixed Assets
     7,336       231,815       49.3       270,269       54.9       (38,454 )     (14.2 )
                                                         
Other Assets
     1,189       37,557       8.0       38,315       7.8       (759 )     (2.0 )
Total Assets
     14,869       469,860       100.0       492,243       100.0       (22,383 )     (4.5 )
                                                         
LIABILITIES
                                                        
Short-term Borrowings
     12       381       0.1       3,457       0.7       (3,076 )     (89.0 )
Accounts Payable
     2,370       74,881       15.9       78,434       15.9       (3,553 )     (4.5 )
Current Installments of Long-term Borrowings
     1,314       41,507       8.8       62,763       12.8       (21,256 )     (33.9 )
Current Installments of Bonds Payable
     478       15,110       3.2       0       0.0       15,110    
－
  
Current Financial Liabilities
     7       233       0.0       421       0.1       (188 )     (44.7 )
Accrued Expense & Other Current Liabilities
     1,134       35,832       7.6       28,420       5.8       7,412       26.1  
Machinery and Equipment Payable
     142       4,497       1.0       7,468       1.5       (2,971 )     (39.8 )
Total Current Liabilities
     5,457       172,440       36.7       180,962       36.8       (8,522 )     (4.7 )
                                                         
Long-term Borrowings
     2,712       85,689       18.2       98,974       20.1       (13,285 )     (13.4 )
Bonds Payable
     0       0       0.0       19,514       4.0       (19,514 )     (100.0 )
Non Current Financial Liabilities
     0       7       0.0       17       0.0       (10 )     (58.4 )
Other Long-term Liabilities
     359       11,353       2.4       14,430       2.9       (3,077 )     (21.3 )
Total Long-term Liabilities
     3,071       97,049       20.7       132,935       27.0       (35,885 )     (27.0 )
                                                         
Total Liabilities
     8,528       269,490       57.4       313,897       63.8       (44,407 )     (14.1 )
                                                         
EQUITY
                                                        
Common Stock
     3,046       96,242       20.5       96,242       19.6       0       0.0  
Capital Surplus
     1,875       59,258       12.6       60,503       12.3       (1,245 )     (2.1 )
Retained Earnings
     650       20,529       4.4       4,017       0.8       16,511       411.0  
Other Equity
     157       4,946       1.1       3,546       0.7       1,399       39.5  
Non-Controlling Interests
     614       19,395       4.1       14,037       2.9       5,358       38.2  
Total Equity
     6,341       200,370       42.6       178,346       36.2       22,024       12.3  
Total Liabilities & Equity
     14,869       469,860       100.0       492,243       100.0       (22,383 )     (4.5 )


Note:
(1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 31.60 per USD as of December 31, 2014
(3) Cash and Cash Equivalents excluding time deposit with maturity longer than 3 months
 
 
 
 
 
AU OPTRONICS CORP.
CONSOLIDATED STATEMENT OF CASH FLOW
For the Period Ended December 31, 2014 and 2013
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD))

    2014    
2013
  
   
USD
    
NTD
    
NTD
  
Cash Flow from Operating Activities:
                  
Profit before Income Taxes
     632       19,980       5,236  
Depreciation & Amortization
     1,801       56,903       63,638  
Investment Loss under Equity Method
     (16 )     (500 )     (454 )
Changes in Working Capital
     (410 )     (12,966 )     (18,516 )
Changes in Others
     (1 )     (24 )     (261 )
Net Cash Provided by Operating Activities
     2,006       63,393       49,642  
                         
Cash Flow from Investing Activities:
                        
Proceeds from Disposal of AFS Investments
     14       452       625  
Acquisition of Property, Plant and Equipment
     (537 )     (16,971 )     (25,458 )
Proceeds from Disposal of Property, Plant and Equipment
     63       2,003       587  
Acquisition of Equity-Accounted Investees and Financial Assets Carried at Cost
     (80 )     (2,531 )     (210 )
Proceeds from Disposal of Equity-Accounted Investees and Financial Assets Carried at Cost
     36       1,148       2,793  
Decrease(Increase) in Other Financial Assets
     (3 )     (84 )     193  
Increase in Intangible Assets
     (9 )     (291 )     (1,654 )
Decrease(Increase) in Other Assets
     14       437       (100 )
Cash Increase Resulting from Change in Consolidated Entity
     86       2,731       0  
Net Cash Used in Investing Activities
     (415 )     (13,107 )     (23,224 )
                         
Cash Flow from Financing Activities:
                        
Decrease in Short-term Borrowings
     (97 )     (3,076 )     (5,163 )
Decrease in Guarantee Deposits
     (3 )     (87 )     (146 )
Decrease in Long-term Borrowings and Bonds Payable
     (1,279 )     (40,404 )     (31,896 )
Issuance of Common Stock for Cash
     0       0       10,281  
Cash Dividends
     (46 )     (1,444 )     0  
Changes in Non-Controlling Interests and Others
     (1 )     (31 )     139  
Net Cash Used by Financing Activities
     (1,425 )     (45,041 )     (26,785 )
                         
Effect of Exchange Rate Changes on Cash
     13       409       23  
Net Increase(Decrease) in Cash and Cash Equivalents
     179       5,653       (343 )
Cash and Cash Equivalents at Beginning of Period
     2,415       76,312       76,656  
Cash and Cash Equivalents at End of Period
     2,594       81,965       76,312  
 
Note:
(1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 31.60 per USD as of December 31, 2014
 
 
 
 
 
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