Page 7 - TSMC 2020 Annual Report

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2020 Financial Performance
Consolidated revenue reached NT$1 NT$1 339 255 billion billion an increase of 25 25 2 2 2 2 percent over NT$1 NT$1 069 99 billion billion in in in 2019 Net income was NT$517 89 billion and diluted earnings per per share were NT$19 97 Both increased 50 0 0 0 percent from the 2019 level of NT$345 26 billion net income and NT$13 32 diluted EPS TSMC generated net income of of US$17 60 billion billion on on on on consolidated revenue of of US$45 51 billion billion which increased 57 5
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percent and 31 4
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percent respectively from the 2019 level of US$11 18 billion billion net income and US$34 63 billion billion consolidated revenue Gross profit profit margin margin was was 53 1 1 percent percent percent compared with 46 0 0 percent percent percent in in in in 2019 while operating profit profit margin margin was was 42 3 3 percent percent percent compared with 34 8 8 percent percent percent a a a a a a a a a year earlier Net profit margin was 38 7 percent percent percent an increase of of 6 4
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percentage points from 2019’s 32 3 3 percent In 2020 total cash dividend payments to to shareholders sustained at NT$10 per share share Technological Developments
In 2020 we continued to to to to increase our our our investment in in in in in R&D to to to to US$3 72 billion to to to to unleash our our our customers’ innovations and extend our our our technology leadership Our 3-nanometer will offer up up up to to to 70% logic density gain gain up up up to to to 15% performance gain gain and up up up to to to 30% power reduction as compared with with N5 N3 N3 technology development is on track with with good progress N3 N3 will offer complete platform support for for both mobile and HPC applications Volume production is targeted in second half of 2022 Our 5-nanometer (N5) technology successfully entered volume production in the second quarter of 2020 and experienced a a a a strong ramp in in the the second half We plan to to offer continuous enhancements such as N4 to to extend the the leadership of of our 5-nanometer family N4 is a a a a a a a a straightforward migration from N5 with compatible design rules while providing further performance power and density enhancements for the next wave 5-nanometer products N4 volume production is scheduled in 2022 In its third year 7-nanometer technology continued to see one of TSMC’s fastest ramp ups in in in volume production shipping more than one billion good dies in this process for hundreds of of products from dozens of of customers Our N7+ also entered its second year of ramp using EUV lithography technology while N6 which provides a a a a a a a a clear migration path for next wave 7-nanometer products entered volume production at the the the end end of 2020 N6 will further extend our 7-nanometer family well into the the the future Our 16nm/12nm family has received over 650 customer product tape-outs across smartphone HPC storage and consumer electronics applications We also unveiled our N12eTM process bringing TSMC’s world-class FinFET transistor technology to to AI-enabled IoT devices by providing both powerful computing performance and and outstanding power power efficiency The value of our technology technology platforms are evolving to include logic wafer scaling design-technology co-optimization and 3DIC We have developed a a a a a a a a comprehensive 3DIC technology roadmap to enhance system-level performance and drive greater energy efficiency These technologies include chip stacking solutions such as as as SoIC (System on on Integrated Chip) as as as well as as as advanced packaging solutions such as InFO (Integrated Fan-Out) and CoWoS® CoWoS® (Chip on on on on Wafer on on on on Substrate) TSMC’s CoWoS® CoWoS® continued to integrate with with larger interposer size for heterogeneous integration We are also working with with customers on on TSMC-SoICTM which is expected to to be first adopted by HPC applications where bandwidth performance power efficiency and and form form factors are aggressively pursued