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UMC Reports 2024 Revenue of NT$232.3 Billion, Up 4.39% Year-over-Year

United Microelectronics Corporation (UMC), a leading Taiwanese semiconductor foundry, announced its financial results for 2024, revealing a total annual revenue of NT$232.3 billion, marking a 4.39% year-over-year growth and achieving the second-highest revenue in the company’s history.

United Microelectronics Corporation (UMC), a leading Taiwanese semiconductor foundry, announced its financial results for 2024, revealing a total annual revenue of NT$232.3 billion, marking a 4.39% year-over-year growth and achieving the second-highest revenue in the company’s history.

Key Financial Highlights

  • December 2024 Revenue: NT$18.966 billion, a 5.4% decline month-over-month but an 11.7% increase year-over-year, marking the lowest monthly figure in the past three months.
  • Q4 2024 Revenue: NT$60.386 billion, nearly flat compared to the previous quarter but up 9.87% year-over-year.
  • Full-Year 2024 Revenue: NT$232.3 billion, representing a 4.39% increase compared to 2023.

Challenges and Market Dynamics

UMC previously forecasted a stable shipment volume and average selling price (ASP) in USD for Q4 2024. However, the company noted challenges in capacity utilization and gross margin due to delayed customer demand. Consequently, UMC revised its 2024 capital expenditures down to $3 billion, a reduction of approximately 9%.

While computing demand exceeded expectations and became the primary growth driver in Q4, automotive and industrial sectors continued to show weakness. UMC anticipates Q4 capacity utilization to drop to 66%-69%, down from 71% in Q3.

Management Insights

Wang Shi, UMC’s Co-General Manager, commented on the company’s performance, stating:
"For Q4 2024, we observed stabilizing demand across various end markets and a noticeable reduction in inventory levels. Looking ahead, we are excited about numerous technical advancements and collaborative projects under development, which will closely align with our customers' product roadmaps."

Outlook for 2025

UMC remains optimistic about the future, focusing on advanced technologies and strategic partnerships to drive growth. With a gradually stabilizing market and ongoing customer collaborations, the company is well-positioned to navigate challenges and seize opportunities in 2025.

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