Taiwan Semiconductor Manufacturing Co Ltd 6-K, filed Jul 16, 2020
Taiwan Semiconductor Manufacturing Co Ltd (TSM)
About this 6-K
Taiwan Semiconductor Manufacturing Co Ltd filed this 6-K on July 16, 2020.
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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 |
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For the month of July 2020 (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: |
July 16, 2020 |
By |
/s/ Wendell Huang |
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Wendell Huang |
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Vice President & Chief Financial Officer |
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Exhibit Number |
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Exhibit Description |
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99.1 |
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99.2 |
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TSMC 2Q20 conference call presentation material.
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TSMC Reports Second Quarter EPS of NT$4.66 |
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Hsinchu, Taiwan, R.O.C., July 16, 2020 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$310.70 billion, net income of NT$120.82 billion, and diluted earnings per share of NT$4.66 (US$0.78 per ADR unit) for the second quarter ended June 30, 2020.
Year-over-year, second quarter revenue increased 28.9% while net income and diluted EPS both increased 81.0%. Compared to first quarter 2020, second quarter results represented essentially flat revenue, and a 3.3% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, second quarter revenue was $10.38 billion, which increased 34.1% year-over-year and increased 0.8% from the previous quarter.
Gross margin for the quarter was 53.0%, operating margin was 42.2%, and net profit margin was 38.9%.
In the second quarter, shipments of 7-nanometer accounted for 36% of total wafer revenue and 16-nanometer accounted for 18%. Advanced technologies, defined as 16-nanometer and more advanced technologies, accounted for 54% of total wafer revenue.
“Our second quarter business was sequentially flat, as the continued 5G infrastructure deployment and HPC-related product launches offset weaknesses in other platforms,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2020, we expect our business to be supported by strong demand for our industry-leading 5nm and 7nm technologies, driven by 5G smartphones, HPC and IoT-related applications.”
Based on the Company’s current business outlook, management expects the overall performance for third quarter 2020 to be as follows:
•Revenue is expected to be between US$11.2 billion and US$11.5 billion; And, based on the exchange rate assumption of 1 US dollar to 29.5 NT dollars, •Gross profit margin is expected to be between 50% and 52%; •Operating profit margin is expected to be between 39% and 41%.
The management further expects the 2020 capital budget to be between US$16 billion and US$17 billion.
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(Unit: NT$ million, except for EPS) |
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2Q20 |
2Q19 |
YoY |
1Q20 |
QoQ |
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Amounta |
Amount |
Inc. (Dec.) % |
Amount |
Inc. (Dec.) % |
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Net sales |
310,699 |
240,999 |
28.9 |
310,597 |
0.0 |
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Gross profit |
164,623 |
103,730 |
58.7 |
160,777 |
2.4 |
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Income from operations |
131,094 |
76,304 |
71.8 |
128,522 |
2.0 |
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Income before tax |
136,399 |
80,545 |
69.3 |
132,147 |
3.2 |
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Net income |
120,822 |
66,765 |
81.0 |
116,987 |
3.3 |
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EPS (NT$) |
4.66b |
2.57b |
81.0 |
4.51b |
3.3 |
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a: 2Q2020 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 largest 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 272 distinct process technologies, and manufactured 10,761 products for 499 customers in 2019 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 |
2020 Second Quarter Earnings Conference July 16, 2020
Agenda Welcome Jeff Su 2Q20 Financial Results and 3Q20 Outlook Wendell Huang Key Messages C.C. Wei Wendell Huang 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 15, 2020 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
2Q20 Revenue by Technology 0.11/0.13um 3% 90nm 3% 0.25um and above 2% 40/45nm 9% 28nm 14% 16nm and Below Revenue 16nm 18% 0.15/0.18um 8% 10nm 0% 65nm 6% 7nm 36% 20nm 1%
2Q20 Revenue by Platform Smartphone 47% Automotive 4% HPC 33% DCE 5% Others 3% IoT 8% Smartphone Automotive
Balance Sheets & Key Indices
Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures *
3Q20 Guidance Revenue to be between US$ 11.2 billion and US$ 11.5 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 29.5 NT dollars, management expects: Gross profit margin to be between 50% and 52% Operating profit margin to be between 39% and 41%
Recap of Recent Major Events Please visit TSMC's website (http://www.tsmc.com) and Market Observation Post System (http://mops.twse.com.tw) for details and other announcements TSMC Expands Renewable Energy Usage to Cut Carbon Emissions by More Than 2 Million Tons (2020/07/08) NXP Selects TSMC 5nm Process for Next Generation High Performance Automotive Platform (2020/06/12) TSMC Shareholders Elected Mr. Yancey Hai to the Board of Directors as an Independent Director (2020/06/09) TSMC Delivers World-first 7nm Automotive Design Enablement Platform (2020/05/28) TSMC Announces Intention to Build and Operate an Advanced Semiconductor Fab in the United States (2020/05/15) TSMC Board of Directors Approves NT$2.5 Cash Dividend for First Quarter of 2020 and Sets September 17 as Ex-Dividend Date, September 23 as the Record Date and October 15, 2020 as the Distribution Date (2020/05/12)
http://www.tsmc.com invest@tsmc.com