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AUO turns loss in Q2, with a single-quarter loss of approximately NT$5.63 billion

AUO announced consolidated revenue of NT$62.88 billion for the second quarter of 2022, a decrease of 22.9% from the previous quarter, and a net loss of NT$5.63 billion (approximately RMB1.272 billion) attributable to the owners of the parent company, according to the Business Times. AUO will hold a press conference on the afternoon of the 28th to explain the market conditions and business outlook for the second half of the year.

According to AUO, some of the company’s production and shipments were affected by China’s sealing control in April, coupled with high channel inventory levels and sluggish end-consumer demand, which depressed brand pulling power and put more pressure on the company’s operations than expected, resulting in single-quarter revenue of NT$62.88 billion, down 22.9% from the previous quarter. Profitability was also affected by the decline in revenue, with gross margin decreasing to 2.7% and the business turning from profit to loss with a net operating loss of NT$4.65 billion and a net loss attributable to the parent company of NT$5.63 billion.

Looking ahead to the third quarter, AUO said that in the face of industry headwinds and many general economic uncertainties, the company will continue to manage cash flow well, maintain a healthy financial health, and accelerate the dual-axis transformation in order to strengthen AUO’s corporate competitiveness and minimize the impact of future panel boom fluctuations on the company’s operations.

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