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
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.
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.
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.
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Press release entitled, “AU Optronics Corp. Reports First Quarter 2015 Financial Results” dated April 28, 2015.
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2.
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Investor Conference Materials entitled, “AU Optronics Corp. First Quarter 2015 Results”, dated April 28, 2015.
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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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AU Optronics Corp.
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Date: April 28, 2015
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By:
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/s/ Andy Yang
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Name:
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Andy Yang
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Title:
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Chief Financial Officer
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ITEM 1
News Release
AU Optronics Corp. Reports a 19-Quarter High Operating Margin of 9.4% for First Quarter 2015
Issued by: AU Optronics Corp.
Issued on: April 28, 2015
Hsinchu, Taiwan, April 28, 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 first quarter of 2015(1).
Consolidated revenues in the first quarter of 2015 were NT$95.30 billion, down 9.6% from the previous quarter. Gross profit was NT$14.35 billion, with a gross margin of 15.1%. Operating profit was NT$8.95 billion, with an operating margin of 9.4%. AUO’s net profit for the first quarter of 2015 was NT$5.27 billion. Net profit attributable to owners of Company was NT$5.16 billion, with a basic EPS of NT$0.54(2).
In the first quarter of 2015, large-sized panel(3) shipments totaled 26.80 million units, down by 8.9% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 42.65 million units, roughly flat compared with the fourth quarter of 2014.
AUO’s unaudited consolidated results for the first quarter of 2015 were highlighted as below:
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Revenues of NT$95.30 billion
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Operating profit of NT$8.95 billion
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Net profit of NT$5.27 billion
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Basic EPS of NT$0.54(2)
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Operating margin was 9.4%
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EBITDA(4) margin was 23.4%
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Looking back to the first quarter, affected by the seasonal factors and its annual maintenance during slow season, AUO’s revenue declined by 9.6% quarter-over-quarter. However, thanks to the significant enhancement of its cost and expense structures, along with the positive effects brought by the currency fluctuations, the Company’s operating profit was better than expected and reached NT$8.95 billion, growing by nearly 13 times year-over-year. It is also worthwhile to mention that AUO’s operating and EBITDA margins in the first quarter rose to 9.4% and 23.4%, respectively, both reaching the highest ratios over the past 19 quarters. These operating results in the first quarter were on par with the Company’s peak season performance in the second half of 2014. In addition, the Company’s financial structure also continued to improve, and its net debt to equity ratio was further lowered to 25.9%, a new low in recent years.
Over the past few years, AUO has fully executed the strategy of “Focus, Simplification and Value Added” on its technologies, products and internal management. The Company’s significant improvements in cost optimization and operating efficiency in the first quarter have demonstrated its accumulated, long-term efforts. Looking forward to the second quarter and the future, facing the macroeconomic uncertainties, AUO will continue to strengthen its product mix as well as technological competitiveness, and also improve its cost control and management, aiming to increase its capability to withstand economic fluctuations and ultimately enhance its long-term profitability and stability.
(1)
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All financial information was unaudited and was prepared by the Company in accordance with Taiwan IFRS.
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(2)
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Basic EPS in the first quarter of 2015 was calculated based on the weighted average outstanding shares of the reporting quarter (9,624 million shares).
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(3)
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Large size refers to panels that are 10 inches and above in diagonal measurement.
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(4)
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EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.
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News Release
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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 1.4 inches to 85 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 from 2010 to 2014. AUO generated consolidated revenues of NT$408.18 billion in 2014. For more information, please visit AUO.com.
Safe Harbour 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 24th, 2015.
For more information, please contact:
Gwen Ting
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Jessie Lee
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Corporate Communications Division
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Corporate Communications Division
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AU Optronics Corp.
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AU Optronics Corp.
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Tel: +886-3-5008800 ext 7259
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Tel: +886-3-5008800 ext 3206
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Fax: +886-3-5772730
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Fax: +886-3-5772730
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Email: gwen.ting@auo.com
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Email : jessie.jc.lee@auo.com
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