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Business Wire
23-04-2025
- Business
- Business Wire
UMC Reports First Quarter 2025 Results
TAIPEI, Taiwan--(BUSINESS WIRE)-- United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ('UMC' or 'The Company'), a leading global semiconductor foundry, today announced its consolidated operating results for the first quarter of 2025. First quarter consolidated revenue was NT$57.86 billion, decreasing 4.2% from NT$60.39 billion in 4Q24. Compared to a year ago, 1Q25 revenue increased 5.9%. Consolidated gross margin for 1Q25 was 26.7%. Net income attributable to the shareholders of the parent was NT$7.78 billion, with earnings per ordinary share of NT$0.62. Jason Wang, co-president of UMC, said, 'Our results in the first quarter were in line with previous guidance, with flattish wafer shipments and the one-time pricing adjustment at the beginning of the year to reflect market conditions. First-quarter highlights include 22/28nm revenue hitting a record high, representing 37% of total sales. That was driven by a 46% quarter-over-quarter increase in 22nm revenue from products such as OLED display driver ICs, image signal processors as well as digital TV, WiFi and audio codec chips. We expect customers to tape-out additional 22nm products in the coming quarters as customers increasingly migrate to our 22nm logic and specialty platforms for next-generation applications. Earlier this month, we also officially inaugurated our new Singapore Phase 3 fab, which will provide additional 22nm capacity to support future growth. Pilot runs are underway and is on schedule to ramp up to volume production early 2026. The expansion in Singapore also further broadens our geographic diversification, enabling customers to strengthen their supply chain resilience. In February, our Board of Directors proposed a cash dividend of NT$2.85 per share, which is subject to approval from shareholders in the upcoming annual general meeting.' Co-president Wang added, 'Looking ahead to the second quarter, we are expecting a moderate rebound in demand across all segments according to near-term alignment with customers. Beyond that, we are cautious about wafer demand projections as policies and markets are still adjusting to the recent tariff announcements. To navigate this challenging environment, we are working closely with customers to monitor trends in end market demand. We are also strengthening our competitive advantages by focusing on execution of key technology projects, such as the 12nm collaboration with U.S. partner, and ensuring our customers have access to geographically diverse manufacturing options. In addition, we are implementing cost reduction plans and accelerating AI and intelligent manufacturing systems to enhance operational efficiency. Through these key focuses, we are confident that UMC can maintain our financial and business resilience.' Co-president Wang said, 'In the first quarter, UMC was honored to receive high ratings in two key sustainability benchmarks. In the Sustainability Yearbook 2025 published by S&P Global, UMC is the only semiconductor company globally to earn the 'Top 1%' ranking based on the company's Corporate Sustainability Assessment (CSA) score. UMC also stood out in the CDP's annual assessment as the sole semiconductor company to be awarded the highest 'A' rating in both Climate Change and Water Security categories.' Summary of Operating Results First quarter operating revenues declined 4.2% sequentially to NT$57.86 billion. Revenue contribution from 40nm and below technologies represented 53% of wafer revenue. Gross profit decreased 15.8% QoQ to NT$15.45 billion, or 26.7% of revenue. Operating expenses decreased 9.3% to NT$6.12 billion. Net other operating income increased 27.6% to NT$0.46 billion. Net non-operating expenses totaled NT$0.44 billion. Net income attributable to shareholders of the parent amounted to NT$7.78 billion. Earnings per ordinary share for the quarter was NT$0.62. Earnings per ADS was US$0.093. The basic weighted average number of shares outstanding in 1Q25 was 12,484,780,989, compared with 12,481,192,676 shares in 4Q24 and 12,414,087,724 shares in 1Q24. The diluted weighted average number of shares outstanding was 12,579,207,466 in 1Q25, compared with 12,610,756,874 shares in 4Q24 and 12,577,525,057 shares in 1Q24. The fully diluted shares counted on March 31, 2025 were approximately 12,579,207,000. Detailed Financials Section Operating revenues decreased to NT$57.86 billion. COGS grew 0.9% to NT$42.41 billion, which included a 4.1% sequential increase in depreciation. Gross profit decreased 15.8% QoQ to NT$15.45 billion. Operating expenses decreased to NT$6.12 billion, as G&A declined 13.9% QoQ to NT$1.54 billion, R&D declined 8.5% to NT$3.96 billion, and Sales & Marketing also declined 0.7% to NT$0.62 billion. Net other operating income was NT$0.46 billion. In 1Q25, operating income declined 18.2% QoQ to NT$9.79 billion. Net non-operating expenses in 1Q25 was NT$0.44 billion, primarily reflecting the NT$0.77 billion in net investment loss, offset by the NT$0.22 billion in net interest income, and the NT$0.12 billion in exchange gain. Non-Operating Income and Expenses (Amount: NT$ million) 1Q25 4Q24 1Q24 Non-Operating Income and Expenses (439 ) (1,443 ) 1,056 Net Interest Income and Expenses 219 290 676 Net Investment Gain and Loss (769 ) (2,614 ) (324 ) Exchange Gain and Loss 115 877 697 Other Gain and Loss (5 ) 4 7 Note：Sums may not equal totals due to rounding. Expand In 1Q25, cash inflow from operating activities was NT$23.83 billion. Cash outflow from investing activities totaled NT$10.51 billion, which included NT$14.57 billion in capital expenditure, resulting in free cash flow of NT$9.26 billion. Cash outflow from financing was NT$13.78 billion, primarily from NT$13.02 billion in bank loans. Net cash flow in 1Q25 amounted to NT$1.35 billion. Over the next 12 months, the company expects to repay NT$5.62 billion in bank loans. Cash Flow Summary (Amount: NT$ million) For the 3-Month Period Ended Mar. 31, 2025 For the 3-Month Period Ended Dec. 31, 2024 Cash Flow from Operating Activities 23,826 32,977 Net income before tax 9,347 10,514 Depreciation & Amortization 14,128 13,463 Share of loss of associates and joint ventures 208 1,800 Income tax paid (585 ) (137 ) Changes in working capital & others 728 7,337 Cash Flow from Investing Activities (10,506 ) (16,968 ) Acquisition of PP&E (14,153 ) (18,275 ) Acquisition of intangible assets (329 ) (877 ) Others 3,976 2,184 Cash Flow from Financing Activities (13,776 ) (14,305 ) Bank loans (13,018 ) (10,495 ) Redemption of bonds - (3,400 ) Others (758 ) (410 ) Effect of Exchange Rate 1,810 (111 ) Net Cash Flow 1,354 1,593 Beginning balance 105,000 103,407 Ending balance 106,354 105,000 Note：Sums may not equal totals due to rounding. Expand Cash and cash equivalents increased to NT$106.35 billion. Days of inventory decreased 3 days to 77 days. Current Assets (Amount: NT$ billion) 1Q25 4Q24 1Q24 Cash and Cash Equivalents 106.35 105.00 119.43 Accounts Receivable 34.80 33.34 30.68 Days Sales Outstanding 54 51 50 Inventories, net 35.43 35.78 34.59 Days of Inventory 77 80 85 Total Current Assets 192.32 189.68 205.16 Expand Current liabilities decreased to NT$72.87 billion. Long-term credit/bonds decreased to NT$44.63 billion. Total liabilities decreased to NT$182.13 billion, leading to a debt to equity ratio of 47%. Liabilities (Amount: NT$ billion) 1Q25 4Q24 1Q24 Total Current Liabilities 72.87 75.26 88.40 Accounts Payable 9.27 7.63 7.46 Short-Term Credit / Bonds 17.63 19.51 25.60 Payables on Equipment 8.46 10.52 13.97 Other 37.51 37.60 41.37 Long-Term Credit / Bonds 44.63 55.53 43.45 Total Liabilities 182.13 192.02 188.85 Debt to Equity 47 % 51 % 50 % Expand Analysis of Revenue 2 Revenue from Asia Pacific increased to 66%, while business from North America was 22% of sales. Business from Europe decreased to 7%, while contribution from Japan was 5%. Revenue contribution from 22/28nm increased to 37% of wafer revenue, while 40nm contribution remained at 16% of sales. Revenue Breakdown by Geometry Geometry 1Q25 4Q24 3Q24 2Q24 1Q24 14nm and below 0 % 0 % 0 % 0 % 0 % 14nm<x<=28nm 37 % 34 % 35 % 33 % 33 % 28nm<x<=40nm 16 % 16 % 13 % 12 % 14 % 40nm<x<=65nm 16 % 16 % 15 % 15 % 18 % 65nm<x<=90nm 8 % 11 % 10 % 12 % 10 % 90nm<x<=0.13um 7 % 10 % 10 % 11 % 9 % 0.13um<x<=0.18um 10 % 9 % 11 % 10 % 11 % 0.18um<x<=0.35um 5 % 4 % 5 % 5 % 4 % 0.5um and above 1 % 0 % 1 % 2 % 1 % Expand Revenue from fabless customers accounted for 82% of revenue. Revenue Breakdown by Customer Type Customer Type 1Q25 4Q24 3Q24 2Q24 1Q24 Fabless 82 % 84 % 85 % 87 % 82 % IDM 18 % 16 % 15 % 13 % 18 % Expand Revenue from the communication segment accounted for 40%, while business from computer applications was 11% of sales. Business from consumer applications increased to 34%, while other segments was 15% of revenue. (1) Computer consists of ICs such as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset, audio codec, keyboard controller, monitor scaler, USB, I/O chipset, WLAN. Communication consists of handset components, broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash controller, game consoles, DSC, smart cards, toys, etc. Blended ASP Trend Blended average selling price (ASP) declined in 1Q25. (To view blended ASP trend, please click here for 1Q25 ASP) Shipment and Utilization Rate 3 Wafer shipments remained flat, accounting for 910K in the first quarter, while quarterly capacity was 1,264K. Overall utilization rate in 1Q25 slightly declined to 69%. Capacity 4 Total capacity in the first quarter decreased to 1,264K 12-inch equivalent wafers. Capacity will grow in the second quarter of 2025 to 1,290K 12-inch equivalent wafers. (1) One 6-inch wafer is converted into 0.25 (6 2 /12 2) 12-inch equivalent wafer; one 8-inch wafer is converted into 0.44 (8 2 /12 2) 12-inch equivalent wafers. Total capacity figures are expressed in 12-inch equivalent wafers. CAPEX CAPEX spending in 1Q25 totaled US$443 million. 2025 cash-based CAPEX budget will be US$1.8 billion. Second Quarter 2025 Outlook & Guidance Quarter-over-Quarter Guidance: Wafer Shipments: Will increase by 5-7% ASP in USD: Will remain flat Gross Profit Margin: Will be approximately 30% Capacity Utilization: mid-70% range 2025 CAPEX: US$1.8 billion Recent Developments / Announcements Jan. 14, 2025 UMC's Flagship Fab Designated One of 189 Smart Manufacturing Lighthouses by the World Economic Forum Apr. 01, 2025 Expand Please visit UMC's website for further details regarding the above announcements Conference Call / Webcast Announcement Wednesday, April 23, 2025 Time: 5:00 PM (Taipei) / 5:00 AM (New York) / 10:00 AM (London) A live webcast and replay of the 1Q25 results announcement will be available at under the 'Investors / Events' section. About UMC UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry company. The company provides high-quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC's comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC's 12-in and 8-in fabs with its core R&D are in Taiwan, with additional ones throughout Asia. UMC has a total of 12 fabs in production with a combined capacity of more than 400,000 wafers per month (12-in equivalent), and all of them are certified with IATF 16949 automotive quality standards. UMC is headquartered in Hsinchu, Taiwan, plus local offices in the United States, Europe, China, Japan, Korea, and Singapore, with a worldwide total of 20,000 employees. For more information, please visit: Safe Harbor Statements This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding anticipated financial results for the first quarter of 2025; the expected wafer shipment and ASP; the anticipated annual budget; capex strategies; environmental protection goals and water management strategies; impact of foreign currency exchange rates; expected foundry capacities; the ability to obtain new business opportunities; and information under the heading 'Second Quarter 2025 Outlook and Guidance.' These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) dependence upon the frequent introduction of new services and technologies based on the latest developments in the industry in which UMC operates; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international business activities; (iv) dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including natural disasters, terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risk factors is included in UMC's filings with the United States Securities and Exchange Commission, including its Annual Report on Form 20-F. All information provided in this release is as of the date of this release and are based on assumptions that UMC believes to be reasonable as of this date, and UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States. - FINANCIAL TABLES TO FOLLOW - As of March 31, 2025 US$ NT$ % Assets Current assets Cash and cash equivalents 3,205 106,354 18.6 % Accounts receivable, net 1,049 34,801 6.1 % Inventories, net 1,068 35,425 6.2 % Other current assets 475 15,744 2.8 % Total current assets 5,796 192,323 33.6 % Non-current assets Funds and investments 2,152 71,407 12.5 % Property, plant and equipment 8,501 282,051 49.2 % Right-of-use assets 240 7,948 1.4 % Other non-current assets 580 19,233 3.4 % Total non-current assets 11,472 380,639 66.4 % Total assets 17,268 572,962 100.0 % Liabilities Current liabilities Short-term loans 196 6,500 1.1 % Payables 1,327 44,018 7.7 % Current portion of long-term liabilities 336 11,132 1.9 % Other current liabilities 338 11,224 2.0 % Total current liabilities 2,196 72,873 12.7 % Non-current liabilities Bonds payable 741 24,586 4.3 % Long-term loans 604 20,041 3.5 % Lease liabilities, noncurrent 172 5,700 1.0 % Other non-current liabilities 1,776 58,933 10.3 % Total non-current liabilities 3,293 109,260 19.1 % Total liabilities 5,489 182,134 31.8 % Equity Equity attributable to the parent company Capital 3,785 125,584 21.9 % Additional paid-in capital 452 14,995 2.6 % Retained earnings and other components of equity 7,535 250,026 43.6 % Total equity attributable to the parent company 11,772 390,605 68.2 % Non-controlling interests 7 224 0.0 % Total equity 11,779 390,829 68.2 % Total liabilities and equity 17,268 572,962 100.0 % Notes: (1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar. (2) Sums may not equal totals due to rounding. Expand UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) Except Per Share and Per ADS Data Year over Year Comparison Quarter over Quarter Comparison Three-Month Period Ended Three-Month Period Ended March 31, 2025 March 31, 2024 Chg. March 31, 2025 December 31, 2024 Chg. US$ NT$ NT$ % US$ NT$ NT$ % Operating revenues 1,744 57,859 54,632 5.9 % 1,744 57,859 60,386 (4.2 %) Operating costs (1,278 ) (42,412 ) (37,733 ) 12.4 % (1,278 ) (42,412 ) (42,043 ) 0.9 % Gross profit 466 15,447 16,899 (8.6 %) 466 15,447 18,343 (15.8 %) 26.7 % 26.7 % 30.9 % 26.7 % 26.7 % 30.4 % Operating expenses - Sales and marketing expenses (19 ) (619 ) (684 ) (9.5 %) (19 ) (619 ) (623 ) (0.7 %) - General and administrative expenses (46 ) (1,542 ) (1,702 ) (9.4 %) (46 ) (1,542 ) (1,791 ) (13.9 %) - Research and development expenses (119 ) (3,964 ) (3,407 ) 16.3 % (119 ) (3,964 ) (4,334 ) (8.5 %) - Expected credit impairment gain 0 2 46 (94.7 %) 0 2 0 523.3 % Subtotal (185 ) (6,123 ) (5,747 ) 6.5 % (185 ) (6,123 ) (6,748 ) (9.3 %) Net other operating income and expenses 14 462 513 (9.9 %) 14 462 362 27.6 % Operating income 295 9,786 11,665 (16.1 %) 295 9,786 11,957 (18.2 %) 16.9 % 16.9 % 21.4 % 16.9 % 16.9 % 19.8 % Net non-operating income and expenses (13 ) (439 ) 1,056 - (13 ) (439 ) (1,443 ) (69.5 %) Income from continuing operations before income tax 282 9,347 12,721 (26.5 %) 282 9,347 10,514 (11.1 %) 16.2 % 16.2 % 23.3 % 16.2 % 16.2 % 17.4 % Income tax expense (48 ) (1,603 ) (2,291 ) (30.0 %) (48 ) (1,603 ) (2,054 ) (22.0 %) Net income 233 7,743 10,430 (25.8 %) 233 7,743 8,460 (8.5 %) 13.4 % 13.4 % 19.1 % 13.4 % 13.4 % 14.0 % Other comprehensive income (loss) 135 4,489 7,954 (43.6 %) 135 4,489 1,270 253.4 % Total comprehensive income (loss) 369 12,232 18,384 (33.5 %) 369 12,232 9,730 25.7 % Net income attributable to: Shareholders of the parent 234 7,777 10,456 (25.6 %) 234 7,777 8,497 (8.5 %) Non-controlling interests (1 ) (34 ) (26 ) 26.2 % (1 ) (34 ) (37 ) (9.2 %) Comprehensive income (loss) attributable to: Shareholders of the parent 370 12,266 18,410 (33.4 %) 370 12,266 9,767 25.6 % Non-controlling interests (1 ) (33 ) (26 ) 26.3 % (1 ) (33 ) (37 ) (9.3 %) Earnings per share-basic 0.019 0.62 0.84 0.019 0.62 0.68 Earnings per ADS (2) 0.093 3.10 4.20 0.093 3.10 3.40 Weighted average number of shares outstanding (in millions) 12,485 12,414 12,485 12,481 Notes: (1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar. (2) 1 ADS equals 5 common shares. (3) Sums may not equal totals due to rounding. Expand For the Three-Month Period Ended For the Three-Month Period Ended March 31, 2025 March 31, 2025 US$ NT$ % US$ NT$ % Operating revenues 1,744 57,859 100.0 % 1,744 57,859 100.0 % Operating costs (1,278 ) (42,412 ) (73.3 %) (1,278 ) (42,412 ) (73.3 %) Gross profit 466 15,447 26.7 % 466 15,447 26.7 % Operating expenses - Sales and marketing expenses (19 ) (619 ) (1.1 %) (19 ) (619 ) (1.1 %) - General and administrative expenses (46 ) (1,542 ) (2.7 %) (46 ) (1,542 ) (2.7 %) - Research and development expenses (119 ) (3,964 ) (6.9 %) (119 ) (3,964 ) (6.9 %) - Expected credit impairment gain 0 2 0.0 % 0 2 0.0 % Subtotal (185 ) (6,123 ) (10.6 %) (185 ) (6,123 ) (10.6 %) Net other operating income and expenses 14 462 0.8 % 14 462 0.8 % Operating income 295 9,786 16.9 % 295 9,786 16.9 % Net non-operating income and expenses (13 ) (439 ) (0.8 %) (13 ) (439 ) (0.8 %) Income from continuing operations before income tax 282 9,347 16.2 % 282 9,347 16.2 % Income tax expense (48 ) (1,603 ) (2.8 %) (48 ) (1,603 ) (2.8 %) Net income 233 7,743 13.4 % 233 7,743 13.4 % Other comprehensive income (loss) 135 4,489 7.8 % 135 4,489 7.8 % Total comprehensive income (loss) 369 12,232 21.1 % 369 12,232 21.1 % Net income attributable to: Shareholders of the parent 234 7,777 13.4 % 234 7,777 13.4 % Non-controlling interests (1 ) (34 ) (0.1 %) (1 ) (34 ) (0.1 %) Comprehensive income (loss) attributable to: Shareholders of the parent 370 12,266 21.2 % 370 12,266 21.2 % Non-controlling interests (1 ) (33 ) (0.1 %) (1 ) (33 ) (0.1 %) Earnings per share-basic 0.019 0.62 0.019 0.62 Earnings per ADS (2) 0.093 3.10 0.093 3.10 Weighted average number of shares outstanding (in millions) 12,485 12,485 Notes: (1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar. (2) 1 ADS equals 5 common shares. (3) Sums may not equal totals due to rounding. Expand UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES Consolidated Condensed Statement of Cash Flows For The Three-Month Period Ended March 31, 2025 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) US$ NT$ Cash flows from operating activities : Net income before tax 282 9,347 Depreciation & Amortization 426 14,128 Share of loss of associates and joint ventures 6 208 Income tax paid (18 ) (585 ) Changes in working capital & others 22 728 Net cash provided by operating activities 718 23,826 Cash flows from investing activities : Acquisition of property, plant and equipment (427 ) (14,153 ) Acquisition of intangible assets (10 ) (329 ) Others 120 3,976 Net cash used in investing activities (317 ) (10,506 ) Cash flows from financing activities : Decrease in short-term loans (61 ) (2,015 ) Proceeds from long-term loans 39 1,300 Repayments of long-term loans (371 ) (12,303 ) Others (23 ) (758 ) Net cash used in financing activities (415 ) (13,776 ) Effect of exchange rate changes on cash and cash equivalents 55 1,810 Net increase in cash and cash equivalents 41 1,354 Cash and cash equivalents at beginning of period 3,165 105,000 Cash and cash equivalents at end of period 3,205 106,354 Notes: (1) New Taiwan Dollars have been translated into U.S. Dollars at the March 31, 2025 exchange rate of NT $33.18 per U.S. Dollar. (2) Sums may not equal totals due to rounding. Expand 1 Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending March 31, 2025, the three-month period ending December 31, 2024, and the equivalent three-month period that ended March 31, 2024. For all 1Q25 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the March 31, 2025 exchange rate of NT$ 33.18 per U.S. Dollar. 2 Revenue in this section represents wafer sales 3 Utilization Rate = Quarterly Wafer Out / Quarterly Capacity 4 Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.
Associated Press
17-02-2025
- Business
- Associated Press
CTCI Ranks Top 1% for Three Consecutive Years in S&P Global's Sustainability Yearbook
TAIPEI, Feb. 17, 2025 /PRNewswire/ -- CTCI Group announced today that two group companies, CTCI Corporation and ECOVE Environment Corporation, have been selected for inclusion in S&P Global's Sustainability Yearbook 2025. CTCI Corp. was named as the top 1% corporate sustainability performer in the construction and engineering category, with the best Corporate Sustainability Assessment (CSA) score, for three years in a row. ECOVE Environment Corp., meanwhile, has been included as the yearbook member and named as the industry mover in the commercial services and supplies category for its strongest improvement. Both companies' stellar achievements underscore CTCI Group 's unwavering commitment to sustainability and its own vision to become a 'Guardian of Sustainable Earth.' S&P Global's Sustainability Yearbook is one of the world's most renowned assessments of corporate ESG (environmental, social, and governance) performance. Yearbook members and distinction levels are selected based on the companies' 2024 CSA scores. This year, over 7,690 companies across 62 industries assessed for the 2024 CSA were considered for inclusion in the Sustainability Yearbook. CTCI Corp. and ECOVE Environment Corp. were among the 780 companies that made it into the Sustainability Yearbook. CSA is the same basis on which the Dow Jones Sustainability Indices (DJSI) family select their lists of constituents. CTCI Corp. is proud to be selected for inclusion for ten consecutive years in the Dow Jones Sustainability Emerging Markets Index as announced last December. 'No factory, facility, or building in this world could become what they are without having been designed and constructed by engineering firms,' remarked CTCI Group Chairman John Yu. 'Across continents, the people at CTCI have a common vision to safeguard the Earth's sustainability, and with that vision they take a sustainability-oriented approach to implementing each project. Assuming responsibilities as a corporate citizen, CTCI joins hands with its global partners to make an impact in engineering. By closely aligning corporate operations and its own growth to its sustainability targets, CTCI has not only performed outstandingly in environmental, social, and governance aspects, but also in financial terms. It's a win-win for corporate profits and environmental protection.' Corporate governance-wise, CTCI Group recorded in 2024 an unprecedented NT$119.7 billion in consolidated revenue, NT$125.6 billion in new contracts—exceeding the NT$100 billion mark for the fifth consecutive year—and NT$333.4 billion in backlog, continuing to be at a high level. Among them, the low-carbon/environmental protection business accounted for as high as 60%. Carbon capture and storage (CCS), which is attracting investments globally, is one example. CTCI has secured the surface facilities EPC contract for the first carbon storage site in Taiwan and an EPC contract for a world-leading chip manufacturer's pilot carbon capture plant. This not only makes CTCI the first engineering firm in Taiwan with experience and track record in both upstream and downstream CCS projects, but also allows CTCI to make substantial contribution to reaching net zero emissions. Environment-wise, by advocating 'Green Engineering', CTCI ensures that the entire project lifecycle, from engineering, construction, to operation, can effectively save energy and reduce carbon emissions. CTCI actively collaborates with its partners and suppliers to create a green supply chain and aid the green transformation of the entire industry. For example, CTCI set a precedent in Taiwan's engineering service industry in 2024 by aligning its near-term and long-term carbon reduction targets and pathways to the Science Based Targets initiative and passed official review. CTCI has set its target to reduce 45% in Scope 1 and Scope 2 carbon emissions by 2030. Additionally, CTCI's Supplier Alliance for Net Zero Emissions has launched various guidance and incentive measures to encourage Scope 3 supply chain firms—a source of CTCI's carbon emissions that is harder to tackle—to formulate their carbon reduction targets by 2028. In terms of biodiversity, CTCI carries out biodiversity hotspot analysis and remains committed to zero deforestation wherever it implements a project, ensuring conservation of vital species. In alignment with global trends, CTCI has signed the Business for Nature Call to Action, become one of the Early Adopters of the Taskforce on Nature-related Financial Disclosures, and set climate and nature-related targets for risk management and action. With concrete actions in multiple aspects, CTCI demonstrates its determination to protect biodiversity. With regard to the social aspect, CTCI is committed to social care, and spares no effort in promoting talent nurturing and sustainability education. The Group aligns its practices to the UN Sustainable Development Goals, and brings about positive change by working with communities through its charitable arm, CTCI Education Foundation. On the global stage, CTCI Education Foundation is proud to become the 11th Taiwanese NGO admitted to the UN Framework Convention on Climate Change, and continues to participate in the UN Climate Change Conferences, showing the world Taiwan's sustainability achievements. CTCI will continue to firmly uphold its brand ethos as the most reliable engineering services provider, remain committed to be a Guardian of Sustainable Earth, and extend its sustainable engineering influence to make the world a better place. About CTCI CTCI (TWSE: 9933, TPEx: 5209, TPEx: 6803) is a global engineering services provider that offers a comprehensive range of services, products, and solutions. Since its founding in 1979, CTCI has strived to deliver the world's most reliable engineering, procurement, construction, commissioning, operation & maintenance, and project management services. Headquartered in Taipei, Taiwan, CTCI serves the environmental, refinery, petrochemicals, power, transportation, industrial, advanced technology facilities, and LNG receiving terminals markets. The company has about 8,000 employees in around 50 operation bases spanning across more than 10 countries. CTCI aims to become a Guardian of Sustainable Earth by contributing to global sustainability through green engineering, and is committed to wielding its influence in the industry to create a low-carbon supply chain. It continues to engage its partners worldwide to deliver responsible business operations, jointly contributing to the planet's sustainable development. The company is a member of the Dow Jones Sustainability™ Emerging Markets Index.
Yahoo
17-02-2025
- Business
- Yahoo
Ricoh selected as a member of the Sustainability Yearbook 2025 by S&P Global
TOKYO, Feb. 17, 2025 /PRNewswire/ -- Ricoh today announced it has been selected as a member of the Sustainability Yearbook 2025, with a score within the top 10%* in its industry, by S&P Global, an American company and one of the world's leaders in corporate ratings. Each year, S&P Global assesses major companies' sustainability in the three areas of Economic, Environment, and Society. Companies with outstanding sustainability efforts in each industry group are selected and awarded as members of the Sustainability Yearbook. S&P Global evaluated over 7,690 companies in 60 industries worldwide this year, and 780 companies were selected for this year's Yearbook. Ricoh's approach to sustainability is to pursue a sustainable society through a Three Ps Balance—Prosperity (economic), People (society), and Planet (environment). To realise this desired society, Ricoh has identified seven material issues in two areas, "Resolving social issues through business" and "Robust management infrastructure," and set 16 ESG targets in linkage with the material to work toward solving these issues. Ricoh will continue to align ESG and business growth to fulfil our responsibility for enhancing global sustainability. *As of February 11, 2025 Relevant Information The Sustainability Yearbook -2025 Rankingshttps:// Related Links Ricoh Group's seven material issues and SDGshttps:// Ricoh Group's commitment and recognitionhttps:// About Ricoh Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support the digital transformation of workplaces, workspaces and optimise business performance. Headquartered in Tokyo, Ricoh's global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organisational capabilities nurtured over its 85-year history. In the financial year ended March 2024, Ricoh Group had worldwide sales of 2,348 billion yen (approx. 15.5 billion USD). It is Ricoh's mission and vision to empower individuals to find 'Fulfillment through Work' by understanding and transforming how people work so we can unleash their potential and creativity to realise a sustainable future. For further information, please visit © 2025 RICOH ASIA PACIFIC PTE LTD. All rights reserved. All referenced product names are the trademarks of their respective companies. View original content to download multimedia: SOURCE Ricoh Asia Pacific Pte Ltd Sign in to access your portfolio
Yahoo
14-02-2025
- Business
- Yahoo
Fosun International Continues to be Recognized in the S&P Global's Sustainability Yearbook 2025
HONG KONG, Feb. 13, 2025 /PRNewswire/ -- On 12 February 2025, S&P Global released the Sustainability Yearbook 2025. Fosun International Limited (HKEX Stock Code: 00656, "Fosun International") was successfully selected into the yearbook for the second consecutive year for its continuous efforts in environmental, social and governance (ESG). Now in its 21st year, the S&P Global's Sustainability Yearbook continues to provide investors with quantifiable sustainability performance evaluation by providing insights based on comprehensive, detailed, and credible data. This year, 7,690 companies across 62 industries were assessed in the 2024 Corporate Sustainability Assessment (CSA), with 780 companies ultimately selected for inclusion in the Sustainability Yearbook 2025. Notably, only 10 companies within the industrial conglomerates sector were selected. Due to its ongoing commitment to ESG initiatives, Fosun International's S&P Global CSA score has improved annually since 2018, positioning it as an industry leader. In the 2024 S&P Global CSA, Fosun International scored an excellent score of 70. As of December 2024, Fosun International ranks in the top 5% among global peers and continues to maintain a leading position in the industry, significantly ahead of the industry average by around 40 points. In the past year, Fosun International also ranked top 1% in the S&P Global's Sustainability Yearbook 2024 (China Edition) and was recognized as an "Industry Mover". In recent years, Fosun International has consistently achieved excellent results in global ESG ratings. As of now, Fosun International's MSCI ESG rating has remained AA since 2021. It received an HSI ESG rating of AA- and has been included in the Hang Seng Corporate Sustainability Benchmark Index for years. Furthermore, Fosun International's FTSE Russell ESG score was consistently higher than the global industry average and it has been continuously selected as a constituent stock of the FTSE4Good Index Series. Looking back on the past, Fosun has always paid attention to the reform and development of the global policies in the field of sustainable development. It has established a comprehensive ESG management system, integrated ESG management requirements into business management over the years, actively responded to national and global strategies in relation to sustainable development, ensured information security, promoted technology innovation, implemented "dual carbon" goals, protected the rights and interests of employees to promote sustainable management and value creation. 2024 marked the 20th anniversary of the United Nations (UN) Global Compact's introduction of ESG concept and principles. Year 2024 also marked Fosun's 10th anniversary as a UN Global Compact member. Since joining the UN Global Compact, Fosun fully supports the ten principles of the UN Global Compact in the areas including human rights, labor, environment, and anti-corruption, ensuring that it conducts business responsibly. At the same time, Fosun actively engages its member companies in the implementation of ESG strategies. In November 2024, Fosun's "Rural Doctors Program Empowering Rural Medical Services" was recognized as one of the selected cases in the UN Global Compact's "20 Cases of Private Sector's Sustainable Development in China for 20 Years". A panel of UN representatives and academics has announced that the 20 selected best projects are exemplary cases of corporate sustainable development that demonstrate excellence in terms of economic viability, practicality, replicability, innovation, and inclusivity. Looking ahead, Fosun will continue to deepen its core businesses, strengthen innovation, and drive globalization, promoting the long-term sustainable development of its business. By creating lasting value for all stakeholders, Fosun remains committed to fulfilling its mission of "Creating happier lives for families worldwide". About S&P Global Corporate Sustainability Assessment The S&P Global Corporate Sustainability Assessment (CSA) was launched in 1999 and has developed into the world's leading corporate sustainability assessment tool and database. As one of the oldest and largest global corporate sustainability assessments, S&P Global CSA covers sustainability assessment standards in 62 different industries, quantifying the information disclosure and performance of companies on various related issues in three dimensions: environment, society, governance and economy, thereby comprehensively reflecting the company's sustainable development management level. View original content: SOURCE Fosun Sign in to access your portfolio
