Taiwan Semiconductor Manufacturing Co Ltd 6-K, filed Apr 14, 2022
Taiwan Semiconductor Manufacturing Co Ltd (TSM)
About this 6-K
Taiwan Semiconductor Manufacturing Co Ltd filed this 6-K on April 14, 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 April 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: |
April 14, 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 First Quarter EPS of NT$7.82 |
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HSINCHU, Taiwan, R.O.C., Apr. 14, 2022 -- TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$491.08 billion, net income of NT$202.73 billion, and diluted earnings per share of NT$7.82 (US$1.40 per ADR unit) for the first quarter ended March 31, 2022.
Year-over-year, first quarter revenue increased 35.5% while net income and diluted EPS both increased 45.1%. Compared to fourth quarter 2021, first quarter results represented a 12.1% increase in revenue and a 22.0% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, first quarter revenue was $17.57 billion, which increased 36.0% year-over-year and increased 11.6% from the previous quarter.
Gross margin for the quarter was 55.6%, operating margin was 45.6%, and net profit margin was 41.3%.
In the first quarter, shipments of 5-nanometer accounted for 20% of total wafer revenue; 7-nanometer accounted for 30%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 50% of total wafer revenue.
“Our first quarter business was supported by strong HPC and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into second quarter 2022, we expect our business to continue to be supported by HPC and Automotive-related demand, partially offset by smartphone seasonality.”
Based on the Company’s current business outlook, management expects the overall performance for second quarter 2022 to be as follows:
- Revenue is expected to be between US$17.6 billion and US$18.2 billion; And, based on the exchange rate assumption of 1 US dollar to 28.8 NT dollars, - Gross profit margin is expected to be between 56% and 58%; - Operating profit margin is expected to be between 45% and 47%.
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TSMC’s 2022 first quarter consolidated results: |
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(Unit: NT$ million, except for EPS) |
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1Q22 |
1Q21 |
YoY |
4Q21 |
QoQ |
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Amounta |
Amount |
Inc. (Dec.) % |
Amount |
Inc. (Dec.) % |
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Net sales |
491,076 |
362,410 |
35.5 |
438,189 |
12.1 |
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Gross profit |
273,203 |
189,839 |
43.9 |
230,755 |
18.4 |
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Income from operations |
223,790 |
150,538 |
48.7 |
182,772 |
22.4 |
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Income before tax |
226,832 |
155,064 |
46.3 |
184,819 |
22.7 |
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Net income |
202,733 |
139,690 |
45.1 |
166,232 |
22.0 |
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EPS (NT$) |
7.82b |
5.39b |
45.1 |
6.41b |
22.0 |
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a: 1Q2022 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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2022 First Quarter Earnings Conference April 14, 2022
Agenda Welcome Jeff Su, IR Director 1Q22 Financial Results and 2Q22 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
1Q22 Revenue by Technology
1Q22 Revenue by Platform
Balance Sheets & Key Indices
Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures *
2Q22 Guidance Revenue to be between US$ 17.6 billion and US$ 18.2 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 28.8 NT dollars, management expects: Gross profit margin to be between 56% and 58% Operating profit margin to be between 45% and 47%
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 DENSO to Take Minority Stake in JASM with a US$0.35 Billion Investment (2022/02/15) TSMC Board of Directors Approved the Issuance of 1,387,000 Shares of 2021 Employee Restricted Stock Awards (RSAs). In Order to Offset Dilution from the Increase of Outstanding Shares Due to the Above-mentioned Issuance, the Board Approved a Share Buyback Program for TSMC to Buy Back Its Common Shares on the Taiwan Stock Exchange. In Addition, the Board Approved the Issuance of No More Than 2,960,000 Common Shares of RSAs for the Year 2022, Which Will be Submitted to the 2022 Annual Shareholders’ Meeting for Approval (2022/02/15) TSMC Board of Directors Approved the Issuance of Unsecured Corporate Bonds for an Amount Not to Exceed NT$60 Billion (Approximately US$2.26 Billion) and the Issuance of US Dollar-Denominated Unsecured Corporate Bonds for an Amount Not to Exceed US$1 Billion (2022/02/15) TSMC Board of Directors Approved NT$2.75 Cash Dividend for the Fourth Quarter of 2021 and Set June 16 as Ex-Dividend Date, June 22 as the Record Date and July 14, 2022 as the Distribution Date (2022/02/15)
https://www.tsmc.com invest@tsmc.com