[News] TSMC admits $3 billion NTD earthquake losses

Following the 7.2-magnitude earthquake that struck Taiwan on April 3, all TSMC factories resumed normal operations within three days. According to a report by Commercial Times, TSMC expects to recognize earthquake-related losses of about NT$3 billion (about US$92.1 million) in the second quarter after deducting insurance claims.

During an earnings call on April 18, TSMC President CC Wei expressed his gratitude for the dedication and hard work of all employees and supplier partners. He also thanked customers for their understanding and support, noting that TSMC will make up for production losses in the second quarter.

CC Wei stated that during this earthquake, the maximum intensity experienced by TSMC's factories was Level 5. Immediately after the earthquake, TSMC activated safety measures and occupational health systems at the factories. All employees were safe, and through everyone's tireless efforts, plant operations were quickly restored.

Due to TSMC's extensive experience and capabilities in earthquake response and disaster prevention, coupled with regular safety drills, the overall equipment recovery rate at TSMC's factories exceeded 70% within 10 hours of the earthquake and was fully restored before the end of the third day after the earthquake. Earthquake. There were no power outages or structural damage at TSMC's plants, including critical equipment such as extreme ultraviolet (EUV) exposure machines, all of which remained intact.

During this earthquake, although TSMC saw a certain amount of chips in production that were affected and had to be disposed of, it is expected that most of the production losses will be recovered in the second quarter, resulting in minimal impact on second-quarter revenues.

TSMC expects the overall impact of the earthquake to cause its second-quarter gross margin to decline by approximately 50 basis points, mainly due to losses related to chip scrap and material depreciation.

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(Image source: TSMC)

Please note that this article cites information from Commercial Times.

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