Taiwan Semiconductor Manufacturing Co Ltd 6-K, filed Jan 16, 2020
Taiwan Semiconductor Manufacturing Co Ltd (TSM)
About this 6-K
Taiwan Semiconductor Manufacturing Co Ltd filed this 6-K on January 16, 2020.
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1934 Act Registration No. 1-14700 |
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the Month of January 2020
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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,
Hsinchu Science Park,
Taiwan
(Address of Principal Executive Offices)
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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.)
Form 20-F ☒Form 40-F ☐
(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes ☐No ☒
(If “Yes” is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82: _______.)
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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 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 4Q19 conference call presentation material
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TSMC Reports Fourth Quarter EPS of NT$4.47 |
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Hsinchu, Taiwan, R.O.C., January 16, 2020 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$317.24 billion, net income of NT$116.04 billion, and diluted earnings per share of NT$4.47 (US$0.73 per ADR unit) for the fourth quarter ended December 31, 2019.
Year-over-year, fourth quarter revenue increased 9.5% while net income and diluted EPS both increased 16.1%. Compared to third quarter 2019, fourth quarter results represented an 8.3% increase in revenue and a 14.8% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, fourth quarter revenue was $10.39 billion, which increased 10.6% year-over-year and increased 10.6% from the previous quarter.
Gross margin for the quarter was 50.2%, operating margin was 39.2%, and net profit margin was 36.6%.
In the fourth quarter, shipments of 7-nanometer accounted for 35% of total wafer revenue and 10-nanometer process technology contributed 1% while 16-nanometer accounted for 20%. Advanced technologies, defined as 16-nanometer and more advanced technologies, accounted for 56% of total wafer revenue.
“Our fourth quarter business benefited from strong demand for high-end smartphones, initial 5G deployment and high performance computing related applications using TSMC’s industry-leading 7-nanometer technology,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into first quarter 2020, despite mobile product seasonality, we anticipate our business to be supported by the continued ramp of 5G smartphones. Based on our current business outlook, management expects the overall performance for first quarter 2020 to be as follows”:
•Revenue is expected to be between US$10.2 billion and US$10.3 billion; And, based on the exchange rate assumption of 1 US dollar to 29.9 NT dollars, •Gross profit margin is expected to be between 48.5% and 50.5%; •Operating profit margin is expected to be between 37.5% and 39.5%.
The management further expects the 2020 capital budget to be between US$15 billion and US$16 billion. |
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TSMC’s 2019 fourth quarter consolidated results: |
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(Unit: NT$ million, except for EPS) |
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4Q19 |
4Q18 |
YoY |
3Q19 |
QoQ |
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Amounta |
Amount |
Inc. (Dec.) % |
Amount |
Inc. (Dec.) % |
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Net sales |
317,237 |
289,771 |
9.5 |
293,045 |
8.3 |
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Gross profit |
159,202 |
138,119 |
15.3 |
139,412 |
14.2 |
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Income from operations |
124,244 |
107,124 |
16 |
107,887 |
15.2 |
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Income before tax |
128,782 |
111,082 |
15.9 |
112,336 |
14.6 |
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Net income |
116,035 |
99,984 |
16.1 |
101,070 |
14.8 |
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EPS (NT$) |
4.47b |
3.86b |
16.1 |
3.90b |
14.8 |
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a: 4Q2019 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 technology and portfolio of design enablement solutions to unleash innovation for the global semiconductor industry.
TSMC serves its customers with global capacity of about 13 million 12-inch equivalent wafers per year in 2020, and provides the broadest range of technologies from 2 micron all the way to foundry’s most advanced processes, which is 7-nanometer today. TSMC is the first foundry to provide 7-nanometer production capabilities and the first to commercialize Extreme Ultraviolet (EUV) lithography technology in delivering customer products to market in high volume. TSMC is headquartered in Hsinchu, Taiwan. For more information about TSMC please visit http://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 PR Department Tel: 886-3-5636688 ext.7125036 Mobile: 886-988-239-163 E-Mail: nina_kao@tsmc.com |
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Hui-Chung Su PR Department Tel: 886-3-563-6688 Ext. 7125033 Mobile: 886-988-930-039 E-Mail: hcsuq@tsmc.com |
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Michael Kramer PR Department Tel: 886-3-563-6688 Ext. 7125031 Mobile: 886-988-931-352 E-Mail: pdkramer@tsmc.com |
2019 Fourth Quarter Earnings Conference January 16, 2020
Agenda Welcome Jeff Su 4Q19 Financial Results and 1Q20 Outlook Wendell Huang Key Messages Wendell Huang C.C. Wei 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 17, 2019 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
4Q19 Revenue by Technology
Revenue by Technology
4Q19 Revenue by Platform
2019 Revenue by Platform
Balance Sheets & Key Indices
Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures (1)
2019 Financial Highlights
1Q20 Guidance Revenue to be between US$ 10.2 billion and US$ 10.3 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 29.9 NT dollars, management expects: Gross profit margin to be between 48.5% and 50.5% Operating profit margin to be between 37.5% and 39.5%
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 Recognizes Outstanding Suppliers at 2019 Supply Chain Management Forum (2019/12/05) University of Tokyo and TSMC Announce Organization-Wide Advanced Semiconductor Technology Collaboration (2019/11/27) TSMC Board of Directors Approves NT$2.5 Cash Dividend for Third Quarter 2019 and Sets March 19 as Ex-Dividend Date, March 25 as the record date and April 16, 2020 as the distribution date (2019/11/12) MediaTek’s World-Leading 8K DTV SoC in Volume Production on TSMC 12FFC Technology (2019/11/08) TSMC and GLOBALFOUNDRIES Announce Resolution of Global Disputes Through Broad Global Patent Cross-License (2019/10/29)
http://www.tsmc.com invest@tsmc.com