AU Optronics Corp. Reports 4Q2012 Financial Results

             AU Optronics Corp. Reports 4Q2012 Financial Results

PR Newswire

HSINCHU, Taiwan, Feb. 6, 2013

HSINCHU, Taiwan, Feb. 6, 2013 /PRNewswire-FirstCall/ -- AU Optronics Corp.
("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investors
conference and announced its unaudited earnings results for the fourth quarter
of 2012^(1).

Consolidated revenue in the fourth quarter of 2012 was NT$99,400 million
(US$3,422 million)^(2), down 3.3% from the previous quarter. Gross profit was
NT$2,822 million (US$97 million), with the gross margin of 2.8%. Operating
loss was NT$4,762 million (US$164 million), with the operating margin of
-4.8%. AUO's net loss for the fourth quarter of 2012 was NT$13,172 million
(US$453 million). Net loss attributable to equity holders of the parent
company was NT$12,463 million (US$429 million), or a basic EPS of -NT$1. 41
(-US$0.49 per ADR).

4Q2012 Result Highlights

AUO's unaudited consolidated results for the fourth quarter of 2012 were
highlighted as below:

  oRevenue was NT$99,400 million, down 3.3% quarter-over-quarter
  oNet loss was NT$13,172 million
  oBasic EPS was -NT$1. 41
  oGross margin was 2.8%
  oOperating margin was -4.8%
  oEBITDA^(3) margin was 12.7%

In the fourth quarter of 2012, shipments for AUO's large-sized panel shipments
reached around 31.0 million units, down by 6.7% quarter-over-quarter.
Shipments for small and medium-sized panels were around 37.6 million units,
down 10.8% quarter-over-quarter.

Looking back to the fourth quarter of 2012, the Company's loss came mainly
from non-operating items, which include:

1.Asset impairment losses: The Company conducted asset impairment tests at
    the end of the year in accordance with the accounting principles, and
    aggregately recognized approximately NT$4.3 billion of asset impairment
    losses this quarter. However, these asset impairment losses were non-cash
    losses, and therefore would not create any impacts to the Company's
    operating cash flows.
2.Anti-trust cases: The Company proactively resolved certain antitrust
    related civil cases this quarter, and so recognized a total of
    approximately NT$3.3 billion for anti-trust related expenses and losses.

With the recognition of these non-operating losses, it is hoped that these
efforts could help mitigate the possible impacts and uncertainties of the
relevant matters on the Company's future earnings.

As for the core operations, the Company's gross margin has turned positive,
while its operating losses also came down significantly compared with the
previous quarter. Among these, the display industry has been gradually
recovering, and so driven by the TV panels, the Company's utilization rates
and shipment area both improved at a steady pace. Through the continuous
platform simplification and the operational restructuring by management team,
the Company also effectively enhanced the product mix and production
efficiency in the fourth quarter. As a result, these efforts have made the
Company's EBITDA margin of the display segment improve to 13.5%. With regard
to the solar business, after proactively adjusting its operational scale and
controlling the expenses, the Company's operating losses for the solar segment
also reduced considerably.

Looking forward to 2013, the new technologies that the Company has cultivated
for a long time are getting ready, and in particular, the operations for
high-end products in small-and-mid sizes are expected to return to the track.
With more top-tier brands added to the customer base of small-and-mid sized
business, it is hoped that the Company has chances to gain more market shares.
In addition, with the trend that display industry is moving to the device with
higher resolution and large screens, the industry supply and demand is
expected to become healthier. AUO will continue to focus on its core
competence and strengthen our portfolio of the high-end products, aiming to
maximize the capacity value and enhance the Company's operating performance.

(1) All financial information was unaudited and was prepared by the Company in
accordance with generally accepted accounting principles in Taiwan ("ROC
(2) Amounts converted by an exchange rate of NTD29.05:USD1 based on Federal
Reserve Bank of New York, USA as of December 31, 2012.
(3) EBITDA = Operating Income + D&A, that is, operating income before
depreciation and amortization.


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 1.2 inches to 71 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 three
consecutive years from 2010 to 2012. AUO generated NT$378.5 billion (US$ 13.03
billion) in sales revenue in 2012. For more information, please visit

* 2012 year end revenue converted at an exchange rate of NTD29.05 : USD 1.

Safe Harbour 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 risksdescribed in the section entitled "Risk Factors" in
our Form 20-F filed with the United States Securities and Exchange Commission
on April 27th, 2012.

For more information, please contact:

Freda Lee                         Yawen Hsiao
Corporate Communications Division Corporate Communications Division
AU Optronics Corp.                AU Optronics Corp.
Tel: +886-3-5008800 ext 3206     +886-3-5008800 ext 3211
Fax: +886-3-5772730              +886-3-5772730

SOURCE AU Optronics Corporation

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