All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
SHANGHAI, Nov. 9, 2023 /PRNewswire/ — Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) (“SMIC”, the “Company” or “we”), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended September 30, 2023.
2023 Third Quarter Highlights
- Revenue was $1,620.6 million in 3Q23, compared to $1,560.4 million in 2Q23, and $1,907.0 million in 3Q22.
- Gross profit was $321.6 million in 3Q23, compared to $316.5 million in 2Q23, and $742.2 million in 3Q22.
- Gross margin was 19.8% in 3Q23, compared to 20.3% in 2Q23 and 38.9% in 3Q22.
Fourth Quarter 2023 Guidance
The Company expects (in accordance with IFRSs):
- Revenue to increase by 1% to 3% QoQ.
- Gross margin to range from 16% to 18%.
The Management Comments
In the third quarter of this year, Company’s revenue was $1.62 billion, up 3.9% sequentially, which was at the midpoint of the guidance; gross margin was 19.8%, down 0.5 percentage points comparing to the previous quarter. The Company’s overall shipments continued to increase, up 9.5% sequentially. Since the total capacity as the denominator increased to 796 thousand wafers, the utilization rate decreased by 1.2 percentage points to 77.1%.
The Company expects the fourth quarter’s revenue to grow by 1% to 3% sequentially; the gross margin will be dragged by the continuous depreciation pressure of the new capacity, which is expected to be in the range of 16~18%.
The full-year capital expenditures are expected to be raised to around $7.5 billion.
To see the complete results including financial tables, please click here: https://www.smics.com/uploads/654caf4e/ER_EN.pdf
Date: Friday, November 10, 2023
Time: 8:30 A.M. – 9:30 A.M.
WEBCAST
The call will be webcast live at:
https://edge.media-server.com/mmc/p/9g26eefw
CONFERENCE CALL
Please register in advance for the conference call at:
https://register.vevent.com/register/BIfc921179b2f84f7694f75e97f3951c10
REPLAY
Recording will be available 1 hour after the event and it will be archived for 12 months.
https://www.smics.com/en/site/company_financialSummary
About SMIC
Semiconductor Manufacturing International Corporation (SEHK: 00981; SSE STAR MARKET: 688981) is one of the leading foundries in the world and is the front runner in manufacturing capability, manufacturing scale, and comprehensive service in the Chinese Mainland. SMIC Group provides semiconductor foundry and technology services to global customers on 0.35 micron to FinFET process node technologies. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with three 8-inch wafer fabrication facilities (“fabs”) and four 12-inch fabs in Shanghai, Beijing, Tianjin and Shenzhen, and three 12-inch fabs under construction in Shanghai, Beijing and Tianjin. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China, and a representative office in Hong Kong, China.
For more information, please visit www.smics.com.
Forward-Looking Statements
This release contains, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC’s current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words including but not limited to “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project”, “target”, “going forward”, “continue”, “ought to”, “may”, “seek”, “should”, “plan”, “could”, “vision”, “goal”, “aim”, “aspire”, “objective”, “schedule”, “outlook” and other similar expressions to identify forward looking statements. These forward-looking statements are estimates made by SMIC’s senior management based on their best judgment and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC’s actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition in the semiconductor industry, timely wafer acceptance by SMIC’s customers, timely introduction of new technologies, SMIC’s ability to ramp new products into volume, supply and demand for semiconductor foundry services, shortages in equipment, parts, raw materials, software and their service supports, orders or judgments from pending litigation, intellectual property litigation in the semiconductor industry, general economic conditions, fluctuations in currency exchange rates and the risk of geopolitics.
Contact:
Investor Relations
+86-21-2081- 2800
ir@smics.com
Source : SMIC Reports 2023 Third Quarter Results
The information provided in this article was created by Cision PR Newswire, our news partner. The author's opinions and the content shared on this page are their own and may not necessarily represent the perspectives of Thailand Business Directory.