FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
July 30, 2014
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Commission File Number
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001-31335
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AU Optronics Corp.
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(Translation of registrant’s name into English)
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No. 1 Li-Hsin Road 2
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Hsinchu Science Park
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Hsinchu, Taiwan
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(Address of principal executive offices)
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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
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Form 20-F X Form 40-F
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
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Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes ..... No ..X...
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If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Not applicable
INDEX TO EXHIBITS
Item
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1.
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Press release entitled, “AU Optronics Corp. Continues a Positive Net Profit at NT$4,024 Million for Second Quarter 2014” dated July 30, 2014.
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2.
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Investor Conference Materials entitled, “AU Optronics Corp. Second Quarter 2014 Results”, dated July 30, 2014.
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Signatures
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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AU Optronics Corp.
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Date: July 30, 2014
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By:
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/s/ Andy Yang
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Name:
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Andy Yang
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Title:
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Chief Financial Officer
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Item 1
News Release
AU Optronics Corp. Reports Net Profit of NT$4,024 Million for Second Quarter 2014
Issued by: AU Optronics Corp.
Issued on: July 30, 2014
Hsinchu, Taiwan, July 30, 2014 –
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investor conference and announced its unaudited consolidated financial results for the second quarter of 2014(1).
Consolidated revenues in the second quarter of 2014 were NT$102,042 million (US$ 3,416 million)(2), up 8.8% from the previous quarter. Gross profit was NT$10,616 million (US$355 million), with gross margin of 10.4%. Operating profit was NT$3,907 million (US$131 million), with operating margin of 3.8%. AUO’s net profit for the second quarter was NT$4,024 million (US$135 million). Net profit attributable to owners of the Company was NT$4,033 million (US$135 million), with a basic EPS of NT$0.42(3) (US$0.14 per ADR).
For the first half of 2014, AUO reported consolidated revenues of NT$195,844 million (US$6,557 million), with net profit of NT$4,190 million (US$140 million) or a basic EPS of NT$0.45(3) (US$0.15 per ADR).
AUO’s unaudited consolidated results for the second quarter of 2014 were highlighted as below:
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Ÿ
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Revenues of NT$102,042 million, up 8.8% quarter-over-quarter
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Net profit of NT$4,024 million
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Basic EPS of NT$0.42(3)
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Gross margin was 10.4%
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Operating margin was 3.8%
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EBITDA(4) margin was 18.0%
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In the second quarter of 2014, large-sized panel(5) shipments totaled 28.85 million units, slightly down by 1.1% quarter-over-quarter. Shipments of small-and-medium-sized panels in the same quarter were over 46.30 million units, representing a 38.4% increase from the first quarter of 2014.
Looking back to the second quarter, thanks to the commercial PC replacement cycle and the TV demand driven by FIFA World Cup, demand for panels generally exceeded the supply, and panel prices gradually increased. Amid the tight capacity across all fronts, AUO focused on the optimization of its product mix. Not only did the shipments of small-and-medium-sized panels grow significantly, but its average TV panel size also hit another record high, rising by around 1.8 inches compared to last quarter. Owing to the aforementioned factors, the Company’s operating margin and EBITDA margin improved to 3.8% and 18.0%, respectively, and its net profit expanded substantially to NT$4,024 million. In the meantime, its days of inventory lowered down further to 36 days, a record low in four-and-half years.
With the third quarter entering the stocking period of National Day Golden Week in China and the traditional holiday season in Europe and the U.S., the demand for panels will hopefully be sustained. The Company will continue to progress along the four principle aspects of “fashion and style, high specifications, integration, and commercial applications”. Through the continuous technological advancement to develop differentiated and high value-added products, the Company hopes to maximize the value of the limited capacity and in turn establish a solid, long-term profit model.
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(1) All financial information was unaudited and was prepared by the Company in accordance with Taiwan IFRS.
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(2) Amounts converted by an exchange rate of NTD29.87:USD1 based on Federal Reserve Bank of New York, USA as of June 30, 2014.
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(3) Basic EPS in the second quarter of 2014 and the first half of 2014 were calculated based on the weighted average outstanding shares of the first half of 2014 (9,624 million shares).
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(4) EBITDA = Operating Profit + D&A, that is, operating profit before depreciation and amortization.
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(5) Large size refers to panels that are 10 inches and above in diagonal measurement.
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###
ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is one of the world’s leading providers of optoelectronic solutions. AUO offers a full range of panel sizes and comprehensive applications ranging from 1.5 inches to 75 inches. Based on its profound R&D and manufacturing experience, AUO continues to develop advanced display technologies of
the next generation. AUO extended its market to the green energy industry in 2008. By building a vertically integrated high-efficiency solar value chain, AUO provides its customers with high-efficiency solar solutions. AUO currently has global operations in Taiwan, Mainland China, the U.S., Japan, South Korea, Singapore, the Netherlands, Czech and Slovakia. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO has also been named to Dow Jones Sustainability World Index for four consecutive years from 2010 to 2013. AUO generated consolidated revenues of NT$416,363 million (US$13,958 million) in 2013. For more information, please visit AUO.com.
* 2013 year end revenue converted at an exchange rate of NTD29.83:USD1
Safe Harbor Notice
AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on March 21st, 2014.
For more information, please contact:
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Gwen Ting
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Jessie Lee
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Corporate Communications Division
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Corporate Communications Division
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AU Optronics Corp.
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AU Optronics Corp.
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Tel: +886-3-5008800 ext 7259
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Tel: +886-3-5008800 ext 3206
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Fax: +886-3-5772730
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Fax: +886-3-5772730
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Email: gwen.ting@auo.com
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Email : jessie.jc.lee@auo.com
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Item 2
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AU Optronics Corp.
Second Quarter 2014 Results Investor Conference
Jul. 30, 2014
Safe Harbor Notice
[] The statements included in this presentation that are not historical in
nature are "forward-looking statements" within the meaning of Section 27A of
the United States Securities Act of 1933 and Section 21E of the United States
Securities Exchange Act of 1934. These forward-looking statements, which may
include statements regarding AU Optronics' future results of operations,
financial condition or business prospects, are subject to significant risks and
uncertainties and are based on AU Optronics' current expectations.
[] Actual results may differ materially from those expressed or implied in
these forward-looking statements for a variety of reasons, including, among
other things: the cyclical nature of our industry; our dependence on
introducing new products on a timely basis; our dependence on growth in the
demand for our products; our ability to compete effectively; our ability to
successfully expand our capacity; our dependence on key personnel; general
economic and political conditions, including those related to the TFT-LCD
industry; possible disruptions in commercial activities caused by natural and
human-induced disasters, including terrorist activity and armed conflict; and
fluctuations in foreign currency exchange rates.
[] Beginning on January 1, 2013, we have adopted the International Financial
Reporting Standards as issued by the International Accounting Standards Board
("IFRS") to the extent endorsed by the ROC Financial Supervisory Commission
("FSC") ("Taiwan IFRS") for reporting our annual and interim consolidated
financial statements in the ROC in accordance with the requirements of the FSC.
All financial information contained herewithin is presented in conformity with
Taiwan IFRS. Readers should be cautioned that Taiwan IFRS differs in many
material respects from IFRS including to the extent that any new or amended
standards or interpretations applicable under IFRS may not be timely endorsed
by the FSC.
[] Our release of financial forecasts and forward-looking statements at any
particular time does not create any duty of disclosure beyond that which is
imposed by law, and we expressly disclaim any obligation to publicly update or
revise any forecasts or forward-looking statements, whether as a result of new
information, future events or otherwise.
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Statement of Comprehensive Income
Selected Items form Statement of Comprehensive Income Amount : NT$ Million
2Q14 1Q14 QoQ % 2Q13
========= ======= ======== ======= ========= ========= =======
Net Sales 102,042 100.0% 93,802 100.0% 8.8% 112,335 100.0%
Cost of Goods Sold (91,426) (89.6%) (86,907) (92.7%) 5.2% (100,820) (89.7%)
Gross Profit 10,616 10.4% 6,894 7.3% 54.0% 11,515 10.3%
Operating Expenses (6,709) (6.6%) (6,236) (6.6%) 7.6% (6,309) (5.6%)
Operating Profit 3,907 3.8% 658 0.7% 493.8% 5,205 4.6%
Net Non-operating Income (Expenses) 273 0.3% (359) (0.4%) [] (1,060) (0.9%)
Profit before Tax 4,180 4.1% 299 0.3% 1296.2% 4,145 3.7%
Net Profit 4,024 3.9% 166 0.2% 2324.4% 3,982 3.5%
Attributable to:
Owners of Company 4,033 4.0% 259 0.3% 1454.2% 3,924 3.5%
Non-controlling Interests (9) (0.0%) (93) (0.1%) (90.6%) 58 0.1%
Net Profit 4,024 3.9% 166 0.2% 2324.4% 3,982 3.5%
Basic EPS (NT$)(a) 0.42 0.03 1454.2% 0.42
=================================== ========= ======= ======== ======= ========= ========= =======
Operating Profit + D&A 18,364 18.0% 15,723 16.8% 16.8% 21,327 19.0%
=================================== ========= ======= ======== ======= ========= ========= =======
Display Segment Information:
Net Sales 96,218 100.0% 87,530 100.0% 9.9% 108,054 100.0%
Operating Profit 4,545 4.7% 1,437 1.6% 216.3% 5,737 5.3%
Operating Profit + D&A 18,055 18.8% 15,550 17.8% 16.1% 20,856 19.3%
=================================== ========= ======= ======== ======= ========= ========= =======
Unit Shipments (mn)(b)
Large Size Panels 28.9 29.2 (1.1%) 30.5
Small & Medium Size Panels 46.3 33.5 38.4% 36.6
=================================== ========= ======= ======== ======= ========= ========= =======
-- Unaudited, prepared by AUO based on Taiwan IFRS a) AUO issued new ADSs in
May 2013. Basic EPS in both 2Q'14 and 1Q'14 were calculated based on the
weighted average outstanding shares of the first half of 2014 (9,624 m shares);
Basic EPS in 2Q'13 was calculated based on the weighted average outstanding
shares of 2013 (9,349m shares). b) Large size refers to panels that are 10
inches and above [C] 2014 AU Optronics Corporation -- Proprietary and
Confidential 3
Consolidated Balance Sheet Highlights
Amount : NT$ Million
2Q14 1Q14 QoQ % 2Q13
======== ======== ======= ========
Cash & ST Investment()a) 76,536 73,077 4.7% 77,653
Inventory 35,299 37,422 (5.7%) 41,810
Short Term Debt()b ) 49,757 51,040 (2.5%) 54,894
Long Term Debt 119,347 126,170 (5.4%) 153,256
Equity 180,458 179,013 0.8% 174,590
Total Assets 468,909 474,525 (1.2%) 521,881
============================== ======== ======== ======= ========
Inventory Turnover (Days)()c) 36 39 40
Net Debt to Equity()d) 51.3% 58.2% 74.7%
============================== ======== ======== ======= ========
-- Unaudited, prepared by AUO based on Taiwan IFRS
a) Excluding time deposit with maturity longer than 3 months (NT$ 300m in 2Q'14
,NT$891m in 1Q'14, and NT$2,597m in 2Q'13)
b) Short term debt refers to all interest bearing debt maturing within one
year
c) Calculated by dividing the average inventory into the annualized cost of
goods sold during such period, then multiplying by 365 days
d) Net Debt to Equity = (Short Term Debt + Long Term Debt - Cash and ST
Investment) / Equity
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Consolidated Cash Flow Highlights
Amount : NT$ Million
2Q14 1Q14 QoQ
========= ========= =========
From Operating Activities 15,416 10,449 4,967
Gain before Tax 4,180 299 3,880
Depreciation & Amortization 14,457 15,065 (607)
Net Change in Working Capital (1,597) (5,884) 4,287
From Investing Activities (3,790) (5,008) 1,219
Capital Expenditure (4,951) (5,594) 643
From Financing Activities (8,192) (8,387) 195
Net Change in Debt (7,960) (8,567) 607
Net Change in Cash()a) 3,458 (3,235) 6,693
-- Unaudited, prepared by AUO based on Taiwan IFRS
a) In addition to cash generated from operating, investing and financing
activities, net change in cash also included effect on currency exchange of
foreign subsidiaries
Display Revenue Breakdown by Application
-- Unaudited, prepared by AUO based on Taiwan IFRS
-- Mobile PC : including Notebook and Tablet displays
-- Mobile Device : including displays for mobile phones and other related
products
-- Commercial and Others: including displays for automobile, industrial PC,
ATM, point of sale (POS), pachinko, and etc.
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Display Revenue Breakdown by Size -- Unaudited, prepared by AUO based on Taiwan IFRS Consolidated Shipments & ASP by Area -- Unaudited, prepared by AUO based on Taiwan IFRS -- ASP per square meter in US$ was translated from NT$ based on average exchange rates announced by Directorate General of Customs, ROC Ministry of Finance of each respective quarter |
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Consolidated Small & Medium Panel Shipments by Area & Revenues -- Unaudited, prepared by AUO based on Taiwan IFRS -- Small & Medium size refers to panels that are under 10 inches www.auo.com ir@auo.com |
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AU OPTRONICS CORP. CONSOLIDATED COMPREHENSIVE INCOME STATEMENT
For the Three Months Ended June 30, 2014 and 2013 and March 31, 2014
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except
for per share amounts and shares outstanding)
Year over Year Comparison Sequential Comparison
------- --------------------------- -------- ------- -------------------------- --------
2Q 2014 % of 2Q 2013 YoY 2Q 2014 % of 1Q 2014 QoQ
USD NTD Sales NTD Chg % USD NTD Sales NTD Chg %
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Net Sales 3,416 102,042 100.0 112,335 (9.2) 3,416 102,042 100.0 93,802 8.8
Cost of Goods Sold 3,061 91,426 89.6 100,820 (9.3) 3,061 91,426 89.6 86,907 5.2
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Gross Profit 355 10,616 10.4 11,515 (7.8) 355 10,616 10.4 6,894 54.0
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Operating Expenses 225 6,709 6.6 6,309 6.3 225 6,709 6.6 6,236 7.6
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Operating Profit 131 3,907 3.8 5,205 (24.9) 131 3,907 3.8 658 493.8
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Net Non-Operating Income (Expense) 9 273 0.3 (1,060) [] 9 273 0.3 (359) []
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Profit before Income Tax 140 4,180 4.1 4,145 0.8 140 4,180 4.1 299 1,296.2
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Income Tax Expense (5) (156) (0.2) (164) (4.7) (5) (156) (0.2) (133) 17.0
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Net Profit 135 4,024 3.9 3,982 1.1 135 4,024 3.9 166 2324.4
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Other Comprehensive Income (Loss) (31) (912) (0.9) 939 [] (31) (912) (0.9) (65) 1300.3
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Total Comprehensive Income 104 3,111 3.0 4,921 (36.8) 104 3,111 3.0 101 2986.2
======= ========= ======= ========= ======== ======= ======== ======= ========= ========
Net Profit Attributable to:
Owners of Company 135 4,033 4.0 3,924 2.8 135 4,033 4.0 259 1,454.2
Non-controlling Interests (0) (9) (0.0) 58 [] (0) (9) (0.0) (93) (90.6)
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Net Profit 135 4,024 3.9 3,982 1.1 135 4,024 3.9 166 2,324.4
======= ========= ======= ========= ======== ======= ======== ======= ========= ========
Total Comprehensive Income Attributable to:
Owners of Company 109 3,257 3.2 4,717 (31.0) 109 3,257 3.2 254 1,180.4
Non-controlling Interests (5) (146) (0.1) 203 [] (5) (146) (0.1) (154) (5.0)
------- --------- ------- --------- -------- ------- -------- ------- --------- --------
Total Comprehensive Income 104 3,111 3.0 4,921 (36.8) 104 3,111 3.0 101 2,986.2
======= ========= ======= ========= ======== ======= ======== ======= ========= ========
Basic Earnings Per Share 0.01 0.42 0.42 0.01 0.42 0.03
------- --------- --------- ------- -------- ---------
Basic Earnings Per ADR(3) 0.14 4.19 4.20 0.14 4.19 0.27
------- --------- --------- ------- -------- ---------
Weighted-Average Shares Outstanding ('M) 9,624 9,349 9,624 9,624
--------- --------- -------- ---------
Note: (1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the
exchange rate of NTD 29.87 per USD as of June 30, 2014 (3) 1 ADR equals 10
common shares
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AU OPTRONICS CORP. CONSOLIDATED BALANCE SHEET
June 30, 2014 and 2013
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) )
June 30, 2014 June 30, 2013 YoY
------ ---------------- ----- ------------- ----- ---------- -------
ASSETS USD NTD % NTD % Change %
-------------------------------------------- ------ ---------------- ----- ------------- ----- ---------- -------
Cash and Cash Equivalents 2,562 76,536 16.3 77,653 14.9 (1,117) (1.4)
Notes & Accounts Receivables 1,637 48,898 10.4 45,216 8.7 3,682 8.1
Other Current Financial Assets 72 2,139 0.5 5,612 1.1 (3,474) (61.9)
Inventories 1,182 35,299 7.5 41,810 8.0 (6,511) (15.6)
Other Current Assets 175 5,227 1.1 5,202 1.0 24 0.5
------ ---------------- ----- ------------- ----- ---------- -------
Total Current Assets 5,628 168,098 35.8 175,494 33.6 (7,396) (4.2)
------ ---------------- ----- ------------- ----- ---------- -------
Long-term Investments 474 14,149 3.0 15,174 2.9 (1,025) (6.8)
------ ---------------- ----- ------------- ----- ---------- -------
Net Fixed Assets 8,322 248,564 53.0 293,578 56.3 (45,014) (15.3)
------ ---------------- ----- ------------- ----- ---------- -------
Other Assets 1,275 38,098 8.1 37,636 7.2 463 1.2
------ ---------------- ----- ------------- ----- ---------- -------
Total Assets 15,698 468,909 100.0 521,881 100.0 (52,973) (10.2)
====== ================ ===== ============= ===== ========== =======
LIABILITIES
--------------------------------------------
Short-term Borrowings 44 1,323 0.3 2,568 0.5 (1,245) (48.5)
Accounts Payable 2,416 72,180 15.4 81,016 15.5 (8,836) (10.9)
Current Installments of Long-term Borrowings 1,622 48,434 10.3 52,326 10.0 (3,892) (7.4)
Current Financial Liabilities 1 24 0.0 100 0.0 (76) (76.0)
Accrued Expense & Other Current Liabilities 943 28,166 6.0 28,451 5.5 (284) (1.0)
Machinery and Equipment Payable 181 5,410 1.2 10,542 2.0 (5,132) (48.7)
------ ---------------- ----- ------------- ----- ---------- -------
Total Current Liabilities 5,207 155,538 33.2 175,002 33.5 (19,464) (11.1)
------ ---------------- ----- ------------- ----- ---------- -------
Long-term Borrowings 3,395 101,395 21.6 132,177 25.3 (30,782) (23.3)
Bonds Payable 601 17,951 3.8 21,079 4.0 (3,127) (14.8)
Non Current Financial Liabilities 0 9 0.0 32 0.0 (24) (73.0)
Other Long-term Liabilities 454 13,558 2.9 19,001 3.6 (5,443) (28.6)
------ ---------------- ----- ------------- ----- ---------- -------
Total Long-term Liabilities 4,450 132,913 28.3 172,289 33.0 (39,375) (22.9)
------ ---------------- ----- ------------- ----- ---------- -------
Total Liabilities 9,657 288,451 61.5 347,291 66.5 (58,840) (16.9)
------ ---------------- ----- ------------- ----- ---------- -------
EQUITY
--------------------------------------------
Common Stock 3,222 96,242 20.5 96,242 18.4 0 0.0
Capital Surplus 1,990 59,452 12.7 60,504 11.6 (1,052) (1.7)
Retained Earnings 275 8,216 1.8 614 0.1 7,602 1237.4
Other Equity 93 2,763 0.6 3,357 0.6 (593) (17.7)
Non-Controlling Interests 461 13,783 2.9 13,873 2.7 (89) (0.6)
------ ---------------- ----- ------------- ----- ---------- -------
Total Equity 6,041 180,458 38.5 174,590 33.5 5,867 3.4
------ ---------------- ----- ------------- ----- ---------- -------
Total Liabilities & Equity 15,698 468,909 100.0 521,881 100.0 (52,973) (10.2)
====== ================ ===== ============= ===== ========== =======
Note: (1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the
exchange rate of NTD 29.87 per USD as of June 30, 2014 (3) Cash and Cash
Equivalents excluding time deposit with maturity longer than 3 months
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AU OPTRONICS CORP. CONSOLIDATED STATEMENT OF CASH FLOW
For the Period Ended June 30, 2014 and 2013 (Expressed in Millions of New
Taiwan Dollars (NTD) and US Dollars (USD))
1H 2014 1H 2013
-------- ------- ------------
-------------
USD NTD NTD
-------- ------- ------------
-------------
Cash Flow from Operating Activities:
Profit before Income Taxes 150 4,479 940
Depreciation & Amortization 988 29,522
32,841
Investment Loss under Equity Method (8) (227)
(335)
Changes in Working Capital (250) (7,482)
(16,714)
Changes in Others (14) (427) 759
-------- ------- ------------
-------------
Net Cash Provided by Operating Activities 866 25,865
17,492
Cash Flow from Investing Activities:
Proceeds from Disposal of AFS Investments 0 2 47
Acquisition of Property, Plant and Equipment (353) (10,545)
(13,512)
Proceeds from Disposal of Property, Plant and Equipment 29 857 421
Acquisition of Financial Assets Carried at Cost (0) (2)
(141)
Proceeds from Disposal of Equity-Accounted Investees and Financial Assets Carried at Cost 38 1,147
1,646
Increase in Other Financial Assets (10) (292)
(9)
Increase in Intangible Assets (1) (18)
(195)
Decrease(Increase) in Other Assets 2 52
(102)
-------- ------- ------------
-------------
Net Cash Used in Investing Activities (295) (8,798)
(11,844)
Cash Flow from Financing Activities:
Decrease in Short-term Borrowings (71) (2,134)
(6,052)
Decrease in Guarantee Deposits (4) (109)
(155)
Decrease in Long-term Borrowings and Bonds Payable (482) (14,393)
(8,816)
Issuance of Common Stock for Cash 0 0
10,281
Proceeds from Issuance of Subsidiary Shares to Non-Controlling Interests and Others 2 57 168
-------- ------- ------------
-------------
Net Cash Used by Financing Activities (555) (16,579)
(4,575)
Effect of Exchange Rate Changes on Cash (9) (264)
(75)
-------- ------- ------------
-------------
Net Increase in Cash and Cash Equivalents 7 224 997
Cash and Cash Equivalents at Beginning of Period 2,555 76,312
76,656
-------- ------- ------------
-------------
Cash and Cash Equivalents at End of Period 2,562 76,536
77,653
======== ======= ============
=============
Note: (1) Unaudited, prepared by AUO based on Taiwan IFRS
(2) Amounts in New Taiwan dollars were translated into US dollars at the
exchange rate of NTD 29.87 per USD as of June 30, 2014
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