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Electronic Technology

AU Optronics Corp.

Company Background

AU Optronics, or AUO, is Taiwan's leading liquid crystal display panel maker, with total assets of over $14 billion. It manufactures various generations and sizes of LCD panels. AUO employs more than 45,000 people in its global operations in Taiwan, China, Japan, Singapore, South Korea, the U.S. and Europe.

 

Founded in 1996, the company traces its roots to Acer Display Technology. In 2001, Acer Display and Unipac Optoelectronics merged to form AUO. AUO then extended its business to the green energy industry to provide customers with solar solutions in 2008. However, it went through heavy losses for 10 straight quarters between 2010 and 2013 amid a slump in the PC market brought on by the rise of tablet computers. AUO's performance has turned upward recently thanks to growing demand for 4K television sets. It now focuses on large panels for 4K TVs.

 

Paul Peng became the president of AUO in 2012. He was also appointed chairman, to take over from prominent Chairman K.Y. Lee as part of the company's restructuring in May 2015. AUO's major rival is Innolux in Taiwan, the world's third-largest panel maker after South Korea's Samsung and LG.

Business Summary

AU Optronics Corp. engages in the research, development, production, and sale of thin film transistor liquid crystal displays and other flat panel displays. It operates through the Display and Energy segments. The Display segment deals with the designing, developing, manufacturing, and marketing of flat panel displays. The Energy segment engages in the design, manufacturing and sale of ingots, solar wafers and solar modules, as well as providing technical engineering services and maintenance services for solar system projects. The company was founded by Kuen Yao Lee on August 12, 1996 and is headquartered in Hsinchu, Taiwan.

Financial Highlights

Dec 2019 TWDUSD
Revenue268,791.69M8,695.18M
Gross Profit-3,765.05M-121.79M
Operating income-20,467.94M-662.12M
Income before tax-19,994.66M-646.81M
Net income-19,185.25M-620.62M
EBITDA15,789.77M510.78M
Diluted EPS-1.99-0.06
Dividends Per Share00
Total Assets397,637.59M13,264.75M
Total liabilities209,660.84M6,994.05M
Total equity176,671.84M5,893.57M
Operating cash flow20,730.63M670.61M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 360,346.49M 329,089.03M 341,028.26M 307,634.38M 268,791.69M
Gross Profit 35,542.20M 30,263.00M 56,900.79M 24,410.79M -3,765.05M
Operating income 17,521.14M 12,338.45M 39,139.12M 6,667.86M -20,467.94M
Income before tax 7,149.39M 11,085.12M 39,124.60M 10,904.43M -19,994.66M
Net income 4,931.96M 7,818.93M 32,359.41M 10,160.59M -19,185.25M
EBITDA 65,266.99M 52,031.69M 75,568.96M 40,895.39M 15,789.77M
Diluted EPS 0.46 0.80 3.24 1.03 -1.99
Dividends Per Share 0.35 0.56 1.50 0.50 0
Total Assets 425,554.24M 429,769.25M 441,451.28M 409,831.77M 397,637.59M
Total liabilities 220,917.84M 230,134.06M 216,206.16M 192,553.08M 209,660.84M
Total equity 181,985.22M 181,244.69M 208,154.36M 202,862.71M 176,671.84M
Operating cash flow 62,003.38M 36,695.84M 84,363.33M 40,200.69M 20,730.63M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 11,348.04M 10,204.05M 11,209.66M 10,201.95M 8,695.18M
Gross Profit 1,119.29M 938.36M 1,870.33M 809.52M -121.79M
Operating income 551.77M 382.57M 1,286.51M 221.12M -662.12M
Income before tax 225.14M 343.71M 1,286.03M 361.61M -646.81M
Net income 155.31M 242.44M 1,063.65M 336.95M -620.62M
EBITDA 2,055.38M 1,613.34M 2,483.96M 1,356.19M 510.78M
Diluted EPS 0.01 0.02 0.10 0.03 -0.06
Dividends Per Share 0.01 0.01 0.04 0.01 0
Total Assets 12,955.65M 13,334.86M 14,834.46M 13,333.50M 13,264.75M
Total liabilities 6,725.66M 7,140.58M 7,265.35M 6,264.53M 6,994.05M
Total equity 5,540.39M 5,623.65M 6,994.78M 6,599.95M 5,893.57M
Operating cash flow 1,952.61M 1,137.82M 2,773.03M 1,333.15M 670.61M

Valuation Measures

Dec 2019
PER--
ROA-4.75%
ROE-10.10%
Operating margin-7.61%
Profit margin-7.13%

Key executives

  • Chairman & Chief Executive Officer: Shuang Lang Peng
  • President, Chief Operating Officer & Director: Fu Jen Ko
  • Chief Financial Officer: Benjiamin Tseng
  • Chief Technology Officer: Wei Lung Liau
  • Chief Sustainability Officer: Amy Ku

Shareholders

  • Qisda Corp. (6.8%)
  • BlackRock Fund Advisors (2.3%)
  • The Vanguard Group, Inc. (2.2%)
  • Norges Bank Investment Management (1.5%)
  • AU Optronics Corp. (1.2%)
  • Dimensional Fund Advisors LP (0.9%)
  • Charles Schwab Investment Management, Inc. (0.7%)
  • BlackRock Advisors (UK) Ltd. (0.5%)
  • Fuh Hwa Securities Investment Trust Co., Ltd. (0.5%)
  • Research Affiliates LLC (0.3%)

Contact Details

  • Website:http://www.auo.com
  • Address: No. 1 Li Hsin Road 2, Hsinchu Science Park, Hsinchu, 300 78, Taiwan
  • Phone: +886.3.5008800

Related Companies

  • AUO Crystal (Malaysia) Sdn. Bhd.
  • Star River Energy Corp.
  • AU Optronics (Czech) sro
  • AU Optronics Manufacturing (Shanghai) Corp.
  • Briview (Xiamen) Corp.
  • AUO Green Energy America Corp.
  • Briview Electronics Corp.
  • AUO Energy Tianjin Corp.
  • AU Optronics Shanghai Corp.
  • Darwin Precisions (L) Corp.
  • Au Optronics Corp. Esop
  • AU Optronics (Kunshan) Corp. Ltd.
  • Ronly Venture Corp.
  • AUO Crystal Corp.
  • AU Optronics Singapore Pte Ltd.
  • ComQi, Inc.
  • Lung Li Investment Co. Ltd.
  • AU Optronics (L) Corp.
  • Ocuity Ltd.
  • Konly Venture Corp.
  • Toppan CFI (Taiwan) Co., Ltd.
  • Kang Li Investment Co. Ltd.

Competitors

  • LG Display Co., Ltd
  • Innolux Corp.
  • Tianma Microelectronics Co., Ltd Class A
  • Truly International Holdings Limited
  • BOE Technology Group Co., Ltd. Class B
  • Sharp Corporation
  • Samsung Electronics Co., Ltd.
  • Hannstar Display Corp.
  • Visionox Technology Inc. Class A
  • Japan Display Inc.
  • TCL Technology Group Corporation Class A
  • Panasonic Corporation
  • HKC International Holdings Limited
  • Nanjing Panda Electronics Company Limited Class H
  • Kopin Corporation
  • Ledtech Electronics Corp.
  • e-Litecom Co., Ltd
  • Mildex Optical Inc.
  • VIA optronics AG Sponsored ADR
  • INVENIA Co., Ltd.
  • KODI CO., LTD.
Last Updated on 1 Dec, 2020

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