Press Releases
SMIC REPORTS 2024 THIRD QUARTER RESULTS
All currency figures stated in this report are in US Dollars unless stated otherwise.
The consolidated financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”) and is presented in accordance with IFRS unless otherwise stated below.
Shanghai, China –November 7, 2024 – 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, 2024.
Third Quarter 2024 Highlights
- Revenue was $2,171.2 million in 3Q24, compared to $1,901.3 million in 2Q24, and $1,620.6 million in 3Q23.
- Gross profit was $444.2 million in 3Q24, compared to $265.1 million in 2Q24, and $321.6 million in 3Q23.
- Gross margin was 20.5% in 3Q24, compared to 13.9% in 2Q24 and 19.8% in 3Q23.
The following statements are forward looking statements based on current expectations and involved risks and uncertainties.
Fourth Quarter 2024 Guidance
The Company expects (in accordance with IFRSs):
- Revenue tobe flat to up 2% QoQ.
- Gross margin to range from 18% to 20%.
The Management Comments
The Company’s revenue in the third quarter increased by 14% sequentially to $2.17 billion, a record high, reaching the milestone of $2 billion in a single quarter for the first time. Meanwhile, 12-inch monthly capacity increased by 21 thousand wafers, which further improved the product mix and increased the blended ASP. The overall utilization rate increased to 90.4% and gross margin increased to 20.5%.
In the fourth quarter, the Company’s guidance is: revenue is expected to be flat to up 2% sequentially, gross margin is expected to be in the range of 18% to 20%.
The Company will strengthen our confidence in development, maintain our strategic focus, stabilize our market share and consolidate our position in the industry.
Conference Call / Webcast Announcement
Date: Friday, November 8, 2024
Time: 8:30 A.M. - 9:30 A.M.
WEBCAST
The call will be webcast live at:
http://edge.media-server.com/mmc/p/2axei2ms/
CONFERENCE CALL
Please register in advance for the conference call at: http://register.vevent.com/register/BIcb279f11a4744d38b004b10c73af896d
REPLAY
Recording will be available 1 hour after the event and it will be archived for 12 months.http://www.3dsentson.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 8-inch and 12-inch wafers. Headquartered in Shanghai, China, SMIC Group has an international manufacturing and service base, with 8-inch and 12-inch wafer fabrication facilities in Shanghai, Beijing, Tianjin and Shenzhen. SMIC Group also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, China.
For more information, please visit www.3dsentson.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 service supports, orders or judgments from pending litigation, intellectual property litigation in the semiconductor industry, macro- economic conditions, fluctuations in currency exchange rates and the risk of geopolitics.
Contact:
Investor Relations
+86-21-2081-2800
ir@3dsentson.com
