Taiwan Semiconductor Manufacturing Co Ltd 6-K, filed Oct 14, 2021
Taiwan Semiconductor Manufacturing Co Ltd (TSM)
About this 6-K
Taiwan Semiconductor Manufacturing Co Ltd filed this 6-K on October 14, 2021.
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1934 Act Registration No. 1-14700 |
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UNITED STATES |
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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
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FORM 6-K |
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REPORT OF FOREIGN PRIVATE ISSUER THE SECURITIES EXCHANGE ACT OF 1934 |
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For the month of October 2021 (Commission File Number: 001-14700) |
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Taiwan Semiconductor Manufacturing Company Ltd. (Translation of Registrant’s Name Into English)
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No. 8, Li-Hsin Rd. 6, |
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. |
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Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1):□ Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7):□ |
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SIGNATURES |
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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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Taiwan Semiconductor Manufacturing Company Ltd. |
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Date: |
October 14, 2021 |
By |
/s/ Wendell Huang |
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Wendell Huang |
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Vice President & Chief Financial Officer |
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Exhibits |
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Exhibit Number |
Exhibit Description |
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99.1 |
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99.2 |
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TSMC Reports Third Quarter EPS of NT$6.03 |
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Hsinchu, Taiwan, R.O.C., - Oct. 14, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$414.67 billion, net income of NT$156.26 billion, and diluted earnings per share of NT$6.03 (US$1.08 per ADR unit) for the third quarter ended September 30, 2021.
Year-over-year, third quarter revenue increased 16.3% while net income and diluted EPS both increased 13.8%. Compared to second quarter 2021, third quarter results represented a 11.4% increase in revenue and a 16.3% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, third quarter revenue was $14.88 billion, which increased 22.6% year-over-year and increased 12.0% from the previous quarter.
Gross margin for the quarter was 51.3%, operating margin was 41.2%, and net profit margin was 37.7%.
In the third quarter, shipments of 5-nanometer accounted for 18% of total wafer revenue; 7-nanometer accounted for 34%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 52% of total wafer revenue.
“Our third quarter business was mainly supported by strong demand across all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm technology.”
Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2021 to be as follows:
˙ Revenue is expected to be between US$15.4 billion and US$15.7 billion; And, based on the exchange rate assumption of 1 US dollar to 28.0 NT dollars, ˙ Gross profit margin is expected to be between 51% and 53%; ˙ Operating profit margin is expected to be between 39% and 41%.
The above guidance includes expenses related to TSMC’s donation of vaccines, which impacts operating margin by approximately one percentage point in the fourth quarter.
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TSMC’s 2021 third quarter consolidated results: |
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(Unit: NT$ million, except for EPS) |
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3Q21 |
3Q20 |
YoY |
2Q21 |
QoQ |
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Amounta |
Amount |
Inc. (Dec.) % |
Amount |
Inc. (Dec.) % |
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Net sales |
414,671 |
356,426 |
16.3 |
372,145 |
11.4 |
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Gross profit |
212,746 |
190,494 |
11.7 |
186,197 |
14.3 |
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Income from operations |
171,004 |
150,048 |
14.0 |
145,667 |
17.4 |
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Income before tax |
173,852 |
155,124 |
12.1 |
149,391 |
16.4 |
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Net income |
156,259 |
137,310 |
13.8 |
134,359 |
16.3 |
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EPS (NT$) |
6.03b |
5.30b |
13.8 |
5.18b |
16.3 |
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a: 3Q2021 figures have not been approved by Board of Directors |
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b: Based on 25,930 million weighted average outstanding shares |
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About TSMC TSMC pioneered the pure-play foundry business model when it was founded in 1987, and has been the world’s leading dedicated semiconductor foundry ever since. The Company supports a thriving ecosystem of global customers and partners with the industry’s leading process technologies and portfolio of design enablement solutions to unleash innovation for the global semiconductor industry. With global operations spanning Asia, Europe, and North America, TSMC serves as a committed corporate citizen around the world.
TSMC deployed 281 distinct process technologies, and manufactured 11,617 products for 510 customers in 2020 by providing broadest range of advanced, specialty and advanced packaging technology services. TSMC is the first foundry to provide 5-nanometer production capabilities, the most advanced semiconductor process technology available in the world. The Company is headquartered in Hsinchu, Taiwan. For more information please visit https://www.tsmc.com.
# # # |
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TSMC Spokesperson: |
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Media Contacts: |
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Wendell Huang |
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Nina Kao Head of Public Relations Tel: 886-3-563-6688 ext.7125036 Mobile: 886-988-239-163 E-Mail: nina_kao@tsmc.com |
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Hui-Chung Su Public Relations Tel: 886-3-563-6688 ext. 7125033 Mobile: 886-988-930-039 E-Mail: hcsuq@tsmc.com |
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Michael Kramer Public Relations Tel: 886-3-563-6688 ext. 7125031 Mobile: 886-988-931-352 E-Mail: pdkramer@tsmc.com |
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2021 Third Quarter Earnings Conference October 14, 2021
Agenda Welcome Jeff Su, IR Director 3Q21 Financial Results and 4Q21 Outlook Wendell Huang, CFO Key Messages Wendell Huang, CFO C.C. Wei, CEO Q&A
Safe Harbor Notice TSMC’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. Information as to those factors that could cause actual results to vary can be found in TSMC’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) on April 16, 2021 and such other documents as TSMC may file with, or submit to, the SEC from time to time. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Statements of Comprehensive Income
3Q21 Revenue by Technology 7nm and Below Revenue 0.11/0.13um 3% 90nm 2% 0.25um and above 2% 40/45nm 8% 28nm 10% 16nm 13% 0.15/0.18um 6% 10nm 0% 65nm 4% 7nm 34% 20nm 0% 5nm 18%
3Q21 Revenue by Platform Smartphone Automotive Smartphone 44% Automotive 4% HPC 37% DCE 3% Others 3% IoT 9%
Balance Sheets & Key Indices
Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures *
4Q21 Guidance Revenue to be between US$ 15.4 billion and US$ 15.7 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 28.0 NT dollars, management expects: Gross profit margin to be between 51% and 53% Operating profit margin to be between 39% and 41%
Recap of Recent Major Events Please visit TSMC's website (https://www.tsmc.com) and Market Observation Post System (https://mops.twse.com.tw) for details and other announcements TSMC Commits to Reach Net Zero Emissions by 2050, Acting on Responsibility to Environmental Sustainability (2021/09/16) TSMC Board of Directors Approved the Issuance of US Dollar-Denominated Unsecured Corporate Bonds for an Amount Not to Exceed US$1 Billion and the Issuance of US Dollar-Denominated Senior Unsecured Corporate Bonds for an Amount Not to Exceed US$8 Billion to Finance TSMC’s Capacity Expansion (2021/08/10) TSMC Board of Directors Approved NT$2.75 Cash Dividend for the Second Quarter of 2021 and Set December 16 as Ex-Dividend Date, December 22 as the Record Date and January 13, 2022 as the Distribution Date (2021/08/10) TSMC Shareholders Elect Board of Directors; Board of Directors Unanimously Re-elects Dr. Mark Liu as Chairman and Dr. C.C. Wei as CEO and Vice Chairman (2021/07/26)
https://www.tsmc.com invest@tsmc.com