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Taiwanese display manufacturer AU Optronics announced its third quarter 2023 financial report, showing signs of recovery. The company’s comprehensive revenue reached NT$70.11 billion (approximately US$2.1 billion), an increase of 10.7% from the previous quarter. This is mainly because brand customers are stocking up for the year-end holidays, which drives up panel shipments and prices. The total shipment area increased by 3.3% month-on-month and 52% year-on-year. The financial position is relatively healthy, with inventory turnover days of 41 days and a net debt-to-equity ratio of 16.7%.
However, AU Optronics predicts that macroeconomic uncertainty will lead to weakening end market demand. The year-end holiday replenishment demand has ended and panel supply is oversupply. The company plans to closely monitor market supply and demand dynamics and adjust operations. The company’s long-term goal is to accelerate vertical integration in automotive, gaming and industrial applications, and execution of this strategy is critical to maintaining global leadership.
Despite the positive performance in the third quarter, the industry landscape remains challenging.
(From: displaydaily Image source: freepik)
