GlobalFoundries Inc. · NASDAQ:GFS
GlobalFoundries — Q4 2022 Earnings Presentation
24 slides from GlobalFoundries's earnings presentation, Feb 14, 2023
Slide 1: Fourth Quarter and Full Year 2022 Financial Results
Fourth Quarter and Full Year 2022 Financial Results (unaudited) February 14, 2023
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation include “forward-looking statements,” that reflect our current expectations and views of future events. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Ac
Slide 3: Q4'22 and 2022 Results
Q4’22 and 2022 Results 3
Slide 4: Key Q4'22 Results
Key Q4’22 Results (Unaudited) Revenue Adjusted EBITDA & Margin Wafer Shipments Millions USD Millions USD 300mm equivalents (k) +14% +41% -7% 2,101 821 1,847 622 584 580 39.1% 31.6% Q4’21 Q4’22 Q4’21 Q4’22 Q4’21 Q4’22 Note: We define adjusted EBITDA as net income (loss), excluding the impact of finan
Slide 5: Key 2022 Results
Key 2022 Results (Unaudited) Revenue Adjusted EBITDA & Margin Wafer Shipments Millions USD Millions USD 300mm equivalents (k) +23% +67% +4% 8,108 3,088 6,585 2,374 2,472 1,848 38.1% 28.1% 2021 2022 2021 2022 2021 2022 Note: We define adjusted EBITDA as net income (loss), excluding the impact of fina
Slide 6: Key Recent Announcements
Key Recent Announcements GF announced that it has acquired Renesas GF and General Motors jointly GF completed the Electronics sale of its East Corporation's announced that General Motors Fishkill, NY, facility proprietary and to onsemi, on production-proven has entered into a long-term December 31,
Slide 7: Quarterly Revenue Trend
Quarterly Revenue Trend (Unaudited, Millions USD) 2,074 2,101 1,940 1,993 +14% 1,847 Y/Y Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 GlobalFoundries © 2023 All Rights Reserved 7
Slide 8: Adjusted Gross Margin Trend
Adjusted Gross Margin Trend (Unaudited) 30.1% 29.9% 28.0% 25.3% +860 bps 21.5% Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Note: Adjusted gross profit (loss) for a particular period is defined as gross profit (loss) adjusted for share-based compensation expense; adjusted gross margin is adjusted gross profit divi
Slide 9: Adjusted EBITDA Margin Trend
Adjusted EBITDA Margin Trend (Unaudited) 39.3% 38.2% 39.1% 36.0% +750 bps 31.6% Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Note: We define adjusted EBITDA as net income (loss), excluding the impact of finance income, finance expense, income tax expense, depreciation, amortization, share-based compensation expens
Slide 10: Q4'22 Financial Summary
Q4’22 Financial Summary (Unaudited, in millions USD, except per share data and wafer shipments) Note: (1) Adjusted gross profit, adjusted operating profit (loss), adjusted net income (loss), adjusted diluted EPS, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFR
Slide 11: 2022 Financial Summary
2022 Financial Summary (Unaudited, in millions USD, except per share data and wafer shipments) Note: (1) Adjusted gross profit, adjusted operating profit (loss), adjusted net income (loss), adjusted diluted EPS, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFRS
Slide 12: Q4'22 Revenue by End Market
Q4’22 Revenue by End Market (Unaudited, in millions USD) Year-over-year Sequential Q4’22 Q3’22 Q4’21 Q4’22 vs Q4’21 Q4’22 vs Q3’22 Smart Mobile Devices $823 $954 $888 $(65) (7)% $(131) (14)% Communications Infrastructure & Datacenter $386 $368 $304 $82 27% $18 5% Home and Industrial IoT $416 $398 $2
Slide 13: 2022 Revenue by End Market
2022 Revenue by End Market (Unaudited, in millions USD) Year-over-year 2022 2021 2022 vs 2021 Smart Mobile Devices $3,723 $3,350 $373 11% Communications Infrastructure & Datacenter $1,423 $998 $425 43% Home and Industrial IoT $1,483 $882 $601 68% Automotive $373 $287 $86 30% Personal Computing $299
Slide 14: Revenue Mix by End Market
Revenue Mix by End Market (Unaudited) Smart Mobile Devices 11% 12% Communications 6% 5% Infrastructure & Datacenter 5% 5% 39% Home & Industrial IoT Q4’21 48% Q4’22 Automotive 14% Personal Computing 20% Non-Wafer & Corporate Other 16% 18% GlobalFoundries © 2023 All Rights Reserved 14
Slide 15: Revenue Mix by End Market
Revenue Mix by End Market (Unaudited) Smart Mobile Devices 9% 10% 7% 4% Communications Infrastructure & Datacenter 5% 4% Home & Industrial IoT 2021 2022 46% 51% Automotive 13% 18% Personal Computing Non-Wafer & Corporate Other 15% 18% GlobalFoundries © 2023 All Rights Reserved 15
Slide 16: Q1'23 Guidance
Q1’23 Guidance 16
Slide 17: Q1'23 Guidance
Q1’23 Guidance (Unaudited, in millions USD except per share amounts) Notes: The guidance provided above contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The guidance includes management’s beliefs
Slide 18: Appendix: Summary Financials and Reconciliations
Appendix: Summary Financials and Reconciliations 18
Slide 19: Statement of Operations
Statement of Operations (Unaudited, in millions USD except per share amounts) 19 GlobalFoundries © 2023 All Rights Reserved
Slide 20: Balance Sheet
Balance Sheet (Unaudited, in millions USD) GlobalFoundries © 2023 All Rights Reserved 20
Slide 21: Statement of Cash Flows
Statement of Cash Flows (Unaudited, in millions USD) GlobalFoundries © 2023 All Rights Reserved 21
Slide 22: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions USD except per share amounts) Note: . (1) Includes $3.1 million of share-based compensation in Q4 2022. (2) Includes the gain on sale of our East Fishkill business in December 2022. (3) Relates to restructuring charges in 4Q 2022. (4) Reflects
Slide 23: IFRS to Non-IFRS Reconciliations
IFRS to Non-IFRS Reconciliations (Unaudited, in millions USD) Note: (1) Includes $3.1 million of share-based compensation in Q4 2022. (2) Activity for the year ended December 31, 2022, relates to the gain on the sale of our East Fishkill business. (3) Reflects changes to Adjusted EBITDA definition d
Slide 24: Thank you
For further information, please contact: Investor Relations ir@gf.com Thank you The information contained herein is the property of GlobalFoundries and/or its licensors. This document is for informational purposes only, is current only as of the date of publication and is subject to change by Global