Taiwan Semiconductor Manufacturing Co Ltd 6-K, filed Jan 13, 2022
Taiwan Semiconductor Manufacturing Co Ltd (TSM)
About this 6-K
Taiwan Semiconductor Manufacturing Co Ltd filed this 6-K on January 13, 2022.
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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 January 2022 (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: |
January 13, 2022 |
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 Fourth Quarter EPS of NT$6.41 |
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HSINCHU, Taiwan, R.O.C., Jan. 13, 2022 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$438.19 billion, net income of NT$166.23 billion, and diluted earnings per share of NT$6.41 (US$1.15 per ADR unit) for the fourth quarter ended December 31, 2021.
Year-over-year, fourth quarter revenue increased 21.2% while net income and diluted EPS both increased 16.4%. Compared to third quarter 2021, fourth quarter results represented a 5.7% increase in revenue and a 6.4% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, fourth quarter revenue was $15.74 billion, which increased 24.1% year-over-year and increased 5.8% from the previous quarter.
Gross margin for the quarter was 52.7%, operating margin was 41.7%, and net profit margin was 37.9%.
In the fourth quarter, shipments of 5-nanometer accounted for 23% of total wafer revenue; 7-nanometer accounted for 27%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 50% of total wafer revenue.
“Our fourth quarter business was supported by strong demand for our industry-leading 5-nanometer technology,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into first quarter 2022, we expect our business to be supported by HPC-related demand, continued recovery in the automotive segment, and a milder smartphone seasonality than in recent years.”
Based on the Company’s current business outlook, management expects the overall performance for first quarter 2022 to be as follows:
-Revenue is expected to be between US$16.6 billion and US$17.2 billion; And, based on the exchange rate assumption of 1 US dollar to 27.6 NT dollars, -Gross profit margin is expected to be between 53% and 55%; -Operating profit margin is expected to be between 42% and 44%.
The management further expects the 2022 capital budget to be between US$40 billion and US$44 billion.
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TSMC’s 2021 fourth quarter consolidated results: |
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(Unit: NT$ million, except for EPS) |
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4Q21 |
4Q20 |
YoY |
3Q21 |
QoQ |
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Amounta |
Amount |
Inc. (Dec.) % |
Amount |
Inc. (Dec.) % |
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Net sales |
438,189 |
361,533 |
21.2 |
414,671 |
5.7 |
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Gross profit |
230,755 |
195,236 |
18.2 |
212,746 |
8.5 |
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Income from operations |
182,772 |
157,120 |
16.3 |
171,004 |
6.9 |
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Income before tax |
184,819 |
161,107 |
14.7 |
173,852 |
6.3 |
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Net income |
166,232 |
142,766 |
16.4 |
156,259 |
6.4 |
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EPS (NT$) |
6.41b |
5.51b |
16.4 |
6.03b |
6.4 |
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a: 4Q2021 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 291 distinct process technologies, and manufactured 12,302 products for 535 customers in 2021 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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Ulric Kelly Public Relations Tel: 886-3-563-6688 ext. 7126541 Mobile: 886-978-111-503 E-Mail: ukelly@tsmc.com |
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2021 Fourth Quarter Earnings Conference January 13, 2022
Agenda Welcome Jeff Su, IR Director 4Q21 Financial Results and 1Q22 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
0.11/0.13um 3% 90nm 2% 0.25um and above 2% 40/45nm 8% 28nm 11% 7nm and Below Revenue 16nm 13% 0.15/0.18um 6% 65nm 5% 7nm 27% 20nm 0% 5nm 23% 4Q21 Revenue by Technology
Revenue by Technology 0.11/0.13um 3% 90nm 2% 0.25um and above 2% 40/45nm 9% 28nm 13% 16nm 17% 0.15/0.18um 7% 10nm 0% 65nm 5% 7nm 33% 20nm 1% 2020 5nm 8% 2021 0.11/0.13um 3% 90nm 2% 0.25um and above 2% 28nm 11% 16nm 14% 0.15/0.18um 6% 65nm 5% 7nm 31% 20nm 0% 5nm 19% 40/45nm 7%
4Q21 Revenue by Platform Smartphone 44% Automotive 4% HPC 37% DCE 3% Others 3% IoT 9% Smartphone Automotive Others HPC IoT DCE
2021 Revenue by Platform Smartphone 44% Automotive 4% HPC 37% DCE 4% Others 3% IoT 8% Smartphone Automotive Others HPC IoT DCE
Balance Sheets & Key Indices
Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures *
2021 Financial Highlights
1Q22 Guidance Revenue to be between US$ 16.6 billion and US$ 17.2 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 27.6 NT dollars, management expects: Gross profit margin to be between 53% and 55% Operating profit margin to be between 42% and 44%
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 Presents 2021 Excellent Performance Award to Outstanding Suppliers (2021/12/16) TSMC Introduces N4X Process, the Newest 5nm Enhancement Tailored for High Performance Computing Products (2021/12/16) MediaTek and TSMC Unveil the World’s First 7nm 8K Resolution Digital TV System-on-Chip (2021/11/22) TSMC to Build Specialty Technology Fab in Japan with Sony Semiconductor Solutions as Minority Shareholder (2021/11/09) TSMC Board of Directors Approved NT$2.75 Cash Dividend for the Third Quarter of 2021 and Set March 16 as Ex-Dividend Date, March 22 as the Record Date and April 14, 2022 as the Distribution Date (2021/11/09) TSMC Recognizes Partners of the Year at 2021 OIP Ecosystem Forum (2021/10/27) TSMC Expands Advanced Technology Leadership with N4P Process (2021/10/26)
https://www.tsmc.com invest@tsmc.com