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
October 29, 2014
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 Third Quarter 2014 Financial Results” dated October 29, 2014.
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2.
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Investor Conference Materials entitled, “AU Optronics Corp. Third Quarter 2014 Results”, dated October 29, 2014.
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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: October 29, 2014
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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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AU Optronics Corp. Reports a 17-quarter High Net Profit of NT$7.3 Billion for Third Quarter 2014
Issued by: AU Optronics Corp.
Issued on: October 29, 2014
Hsinchu, Taiwan, October 29, 2014 –
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 third quarter of 2014(1).
Consolidated revenues in the third quarter of 2014 were NT$106.89 billion, up 4.7% from the previous quarter. Gross profit was NT$15.38 billion, with gross margin of 14.4%. Operating profit was NT$8.78 billion, with operating margin of 8.2%. AUO’s net profit for the third quarter was NT$7.30 billion. Net profit attributable to owners of the Company was NT$7.33 billion, with a basic EPS of NT$0.76(2).
In the third quarter of 2014, large-sized panel(3) shipments totaled 29.48 million units, up by 2.2% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were around 48.23 million units, representing a 4.2% increase from the second quarter of 2014.
For the first nine months of 2014, AUO reported consolidated revenues of NT$302.73 billion, with net profit of NT$11.49 billion or a basic EPS of NT$1.21(2).
AUO’s unaudited consolidated results for the third quarter of 2014 were highlighted as below:
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Revenues of NT$106.89 billion, up 4.7% quarter-over-quarter
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Net profit of NT$7.30 billion
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Basic EPS of NT$0.76(2)
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Operating margin was 8.2%
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EBITDA(4) margin was 21.2%
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News Release
Looking back to the third quarter, thanks to the inventory stocking for Golden Week Holiday in China and the traditional holiday season in Europe and the U.S., the overall panel supply and demand remained fairly tight. While the Company’s fabs continued to be operated at full capacity, AUO persistently switched its product mix to high value-added products. Not only managed to maximize its effectiveness of the capacity, but the Company also proactively improved its cost structures, making the Company to deliver a strong financial performance this quarter. As a result, the Company’s operating margin and EBITDA margin surged to 8.2% and 21.2%, respectively. Its net profit also rose 81.4% quarter-over-quarter to NT$7.30 billion, a record high for the past 17 quarters. Meanwhile, its days of inventory further declined to 35 days, a new low in recent years, demonstrating the Company’s achievements in both inventory control and asset management.
Looking forward to the fourth quarter, after “making profits in the high season” last quarter, AUO plans to execute the strategy – building competitive edges in the slow season – in the fourth quarter. The Company will continue to leverage its capability in technology development and proactively develop products with high cost-performance ratio as well as high-technology content, aiming to establish its long-term competitive advantages and recreate growth opportunity.
(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 third quarter of 2014 and the first nine months of 2014 were calculated based on the weighted average outstanding shares of the first nine months of 2014 (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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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
News Release
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 generated consolidated revenues of NT$416.36 billion (US$13.96 billion) in 2013. For more information, please visit AUO.com.
* 2013 year end revenue converted at an exchange rate of NTD29.83:USD1
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 21st, 2014.
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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