SMIC Reports 2018 Annaul Results

Semiconductor Manufacturing International Corporation (NYSE: SMI; SEHK: 981) (“SMIC”, the “Company” or “our”), one of the leading semiconductor foundries in the world announced its consolidated results of operations for the year ended December 31, 2018.
Financial Highlights
  • Revenue was US$3,360.0 million in 2018, an increase of 8.3% from US$3,101.2 million in 2017. Excluding the recognition of technology licensing revenue, revenue increased by 3.1% from US$3,101.2 million in 2017 to US$3,196.2 million in 2018.
  • Gross profit was US$746.7 million in 2018, compared to US$740.7 million in 2017. Gross margin was 22.2% in 2018, compared to 23.9% in 2017. Excluding the recognition of technology licensing revenue, gross margin was 18.2% in 2018, compared to 23.9% in 2017.
  • Earnings before interest, tax, depreciation and amortization was a record high of US$1,164.4 million in 2018, compared to US$1,117.7 million in 2017, representing an increase of 4.2%.
  • Revenue from China-region customers grew to 57.0% of total revenue excluding technology licensing in 2018, compared to 47.3% in 2017, representing a revenue growth of 24.3%.
  • The net debt to equity ratio remained low at –4.5% as of December 31, 2018.
The complete results announcement can be found at http://www.smics.com/en/site/company_statutoryDocuments

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