GlobalFoundries Reports First Quarter 2023 Financial Results
来源:格芯发布时间:2023-09-276046浏览
询问 AIMALTA, N.Y., May 09, 2023 (GLOBE NEWSWIRE) — GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the first quarter ended March 31, 2023.
第一季度主要财务亮点
- Revenue of $1,841 million.
- Gross margin of 28.0% and adjusted gross margin(1) of 28.5%.
- Operating margin of 15.8% and adjusted operating margin(1) of 17.7%.
- Net income of $254 million and adjusted net income(1) of $290 million.
- Adjusted EBITDA(1) of $655 million.
- Cash, cash equivalents and marketable securities of $3,232 million.
“In the first quarter, amidst a continued uncertain macroeconomic and cyclical backdrop, GF delivered solid results that are consistent with the guidance we provided in our February earnings release,” said Dr. Thomas Caulfield, president and CEO of GF. “Despite a challenging business environment, GF’s gross margins for the quarter have increased year-over-year due to our continued disciplined focus on profitability by our global team who effectively manage costs, while driving a richer mix of business to our customers. As we look to the remainder of 2023, we will continue to support our customers’ needs, by investing in capacity to strengthen our differentiated solutions, increase our focus on growing end markets and drive value for our stakeholders.”
近期业务亮点
- GF announced a Strategic University Partnership agreement with Georgia Tech. This agreement spans a broad range of research activities, including leadership capabilities in advanced packaging, silicon photonics and workforce development initiatives.
- GF and Amkor Technology, Inc. formed a strategic partnership to establish the first at-scale back-end facility in Europe. GF transferred its 300mm Bump and Sort lines from its Dresden site in Germany to Amkor’s operations in Porto, Portugal.
- The European Commission approved the award of direct grant funding to GF and STMicroelectronics to support the construction and operation of a new 300mm manufacturing facility in Crolles, France. The funds are being made available under the European Chips Act and the project will enable the development of a large-scale manufacturing site in Europe for high performance chips, to address current and future key European markets from automotive to industrial, 5G/6G roll-out, security, defense, and space industries.
(1)Adjusted gross profit, adjusted operating income, adjusted net income, adjusted EBITDA and related margins are Non-IFRS measures. See “Adjusted Financial Measures (Non-IFRS)” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and “Non-IFRS Financial Measures” for a discussion of why we believe these Non-IFRS measures are useful.
未经审计的季度业绩概要（单位：百万美元，每股金额和晶圆出货量除外）
| 同比增长 | 循序渐进 | |||||||||||||||||||||||
| Q1’23 | Q4'22 | Q1'22 | Q1’23 vs Q1’22 | Q1’23 vs Q4’22 | ||||||||||||||||||||
| 净收入 | $ | 1,841 | $ | 2,101 | $ | 1,940 | $ | (99 | ) | (5 | )% | $ | (260 | ) | (12 | )% | ||||||||
| 毛利润 | 515 | 622 | 469 | $ | 46 | 10 | % | $ | (107 | ) | (17 | )% | ||||||||||||
| 毛利率 | 28.0 | % | 29.6 | % | 24.2 | % | +380bps | (160)bps | ||||||||||||||||
| 调整后的毛利(1) | $ | 525 | $ | 633 | $ | 490 | $ | 35 | 7 | % | $ | (108 | ) | (17 | )% | |||||||||
| Adjusted gross margin(1) | 28.5 | % | 30.1 | % | 25.3 | % | +320bps | (160)bps | ||||||||||||||||
| 营业利润 | $ | 290 | $ | 288 | $ | 225 | $ | 65 | 29 | % | $ | 2 | 1 | % | ||||||||||
| 营业利润率 | 15.8 | % | 13.7 | % | 11.6 | % | +420bps | +210bps | ||||||||||||||||
| 调整后的营业利润(1) | $ | 326 | $ | 425 | $ | 279 | $ | 47 | 17 | % | $ | (99 | ) | (23 | )% | |||||||||
| Adjusted operating margin(1) | 17.7 | % | 20.2 | % | 14.4 | % | +330bps | (250)bps | ||||||||||||||||
| 净收入(2) | $ | 254 | $ | 668 | $ | 178 | $ | 76 | 43 | % | $ | (414 | ) | (62 | )% | |||||||||
| 净收益率 | 13.8 | % | 31.8 | % | 9.2 | % | +460bps | (1,800)bps | ||||||||||||||||
| 调整后的净收入(1)(2)(3) | $ | 290 | $ | 800 | $ | 232 | $ | 58 | 25 | % | $ | (510 | ) | (64 | )% | |||||||||
| Adjusted net income margin(1) | 15.8 | % | 38.1 | % | 12.0 | % | +380bps | (2,230)bps | ||||||||||||||||
| 稀释后的每股收益("EPS") | $ | 0.46 | $ | 1.21 | $ | 0.33 | $ | 0.13 | 39 | % | $ | (0.75 | ) | (62 | )% | |||||||||
| 调整后的每股摊薄收益(1) | $ | 0.52 | $ | 1.44 | $ | 0.42 | $ | 0.10 | 24 | % | $ | (0.92 | ) | (64 | )% | |||||||||
| 调整后的EBITDA(1)(4) | $ | 655 | $ | 821 | $ | 698 | $ | (43 | ) | (6 | )% | $ | (166 | ) | (20 | )% | ||||||||
| Adjusted EBITDA margin (1) | 35.6 | % | 39.1 | % | 36.0 | % | (40)bps | (350)bps | ||||||||||||||||
| 来自业务的现金 | $ | 479 | $ | 491 | $ | 845 | $ | (366 | ) | (43 | $ | (12 | ) | (2 | )% | |||||||||
| 晶圆出货量（相当于300毫米）（单位：千）。 | 511 | 580 | 625 | (114 | ) | (18 | )% | (69 | ) | (12 | )% | |||||||||||||
(1) Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA, and related margins are adjusted Non-IFRS metrics; see the reconciliation of IFRS to adjusted Non-IFRS metrics in the section “Unaudited Reconciliation of IFRS to Adjusted Non-IFRS” below.
(2)包括在2022年12月出售我们的EFK业务的收益。
(3) Beginning in Q4 2022, the Company has revised its definition of adjusted net income to include an adjustment for restructuring charges and the associated tax impact. The change was made due to a restructuring undertaken in Q4 2022. The Company believes the revised definition provides management and investors with more useful information to evaluate the operations of our business. Adjusted net income is now defined as net income adjusted for share-based compensation expense, restructuring charges and the associated tax impact.
(4) Beginning in Q3 2022, the Company has revised its definition of adjusted EBITDA to include an adjustment for finance income. The change was made due to the Company making an investment during Q2 2022 of approximately $1.0 billion in marketable securities. The Company believes the revised definition provides management and investors more useful information to evaluate the operations of our business. Adjusted EBITDA is now defined as net income, adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, divestiture gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlement.
Summary of Second Quarter 2023 Outlook (unaudited in millions USD, except per share amounts)(1)
| 国际财务报告准则 | 基于股份的补偿 | 非IFRS调整后的 | |||
| 净收入 | $1,810 - $1,850 | - | - | ||
| 毛利 | $481 - $512 | $15- $17 | $498 - $527 | ||
| 毛利率（中间值） | 27.1% | 28.0% | |||
| 营业利润 | $238 – $287 | $40 - $50 | $288 – $327 | ||
| 营业利润率（中间值） | 14.3% | 16.8% | |||
| 净收入 | $206 – $259 | $40 - $50 | $256 – $299 | ||
| 净收入利润率（中间值） | 12.7% | 15.2% | |||
| 稀释后的EPS | $0.37 – $0.46 | $0.46 – $0.54 | |||
(1)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 and assumptions and is based on information currently available. GF has not provided a reconciliation of its Second Fiscal Quarter outlook for adjusted Non-IFRS EBITDA and related margin because estimates of all of the reconciling items cannot be provided without unreasonable efforts. Certain factors that are materially signification to GF’s ability to estimate these items are out of its control and/or cannot be reasonably predicted.
未经审计的综合业务报表
| 截止到目前的三个月 | |||||||
| (in millions USD except for per share amounts) | 2023年3月31日 | 2022年3月31日 | |||||
| 净收入 | $ | 1,841 | $ | 1,940 | |||
| 收入的成本 | 1,326 | 1,471 | |||||
| 毛利润 | $ | 515 | $ | 469 | |||
| 业务费用。 | |||||||
| 研究与开发 | 109 | 128 | |||||
| 销售、营销、一般和行政 | 111 | 116 | |||||
| 重组费用 | 5 | - | |||||
| 业务费用总额 | $ | 225 | $ | 244 | |||
| 营业利润 | $ | 290 | $ | 225 | |||
| 财务费用，净额 | 1 | (28 | ) | ||||
| 其他收入（费用） | (14 | ) | 10 | ||||
| 所得税费用 | (23 | ) | (29 | ) | |||
| 净收入 | $ | 254 | $ | 178 | |||
| 归因于。 | |||||||
| GlobalFoundries的股东 | 254 | 179 | |||||
| 非控制性权益 | - | (1 | ) | ||||
| 每股收益 : | |||||||
| 基本 | $ | 0.46 | $ | 0.34 | |||
| 稀释的 | $ | 0.46 | $ | 0.33 | |||
| 用于计算每股收益的股票。 | |||||||
| 基本 | 550 | 532 | |||||
| 稀释的 | 555 | 549 | |||||
未经审计的合并财务状况表
| (单位：百万美元) | 2023年3月31日 | 2022年12月31日 | ||||||
| 资产。 | ||||||||
| 现金和现金等价物 | $ | 2,256 | $ | 2,352 | ||||
| 应收账款、预付账款和其他 | 1,296 | 1,487 | ||||||
| 有价证券 | 653 | 622 | ||||||
| 库存 | 1,423 | 1,339 | ||||||
| 流动资产 | $ | 5,628 | $ | 5,800 | ||||
| 递延税款资产 | $ | 271 | $ | 292 | ||||
| 财产、厂房和设备，净值 | 10,829 | 10,596 | ||||||
| 有价证券 | 323 | 372 | ||||||
| 其他资产 | 764 | 781 | ||||||
| 非流动资产 | $ | 12,187 | $ | 12,041 | ||||
| 总资产 | $ | 17,815 | $ | 17,841 | ||||
| 负债和权益。 | ||||||||
| 长期债务的当前部分 | $ | 205 | $ | 223 | ||||
| 其他流动负债 | 2,690 | 3,136 | ||||||
| 流动负债 | $ | 2,895 | $ | 3,359 | ||||
| 长期债务的非流动部分 | $ | 2,310 | $ | 2,288 | ||||
| 其他负债 | 2,303 | 2,234 | ||||||
| 非流动负债 | $ | 4,613 | $ | 4,522 | ||||
| 股东权益。 | ||||||||
| 普通股票/额外的实收资本 | $ | 23,927 | $ | 23,842 | ||||
| 累计亏损 | (13,767 | ) | (14,021 | ) | ||||
| Accumulated other comprehensive income | 100 | 92 | ||||||
| 非控制性权益 | 47 | 47 | ||||||
| 负债和权益总额 | $ | 17,815 | $ | 17,841 | ||||
未经审计的合并现金流量表
| 截止到目前的三个月 | |||||||
| (单位：百万美元) | 2023年3月31日 | 2022年3月31日 | |||||
| 来自经营活动的现金流。 | |||||||
| 净收入 | $ | 254 | $ | 178 | |||
| 折旧和摊销 | 343 | 408 | |||||
| 财务费用，净额和其他(1) | 7 | 9 | |||||
| 递延所得税 | 22 | 19 | |||||
| 其他非现金经营活动 | 27 | 42 | |||||
| 营运资本的净变化 | (174 | ) | 189 | ||||
| 经营活动提供的净现金 | $ | 479 | $ | 845 | |||
| 来自投资活动的现金流。 | |||||||
| 财产、厂房、设备和无形资产的购买 | $ | (853 | ) | $ | (643 | ) | |
| 其他投资活动 | 267 | 4 | |||||
| 用于投资活动的净现金 | $ | (586 | ) | $ | (639 | ) | |
| 来自融资活动的现金流。 | |||||||
| Proceeds from issuance of equity instruments and other | $ | 37 | $ | - | |||
| 债务的收益（偿还），净额 | (30 | ) | 107 | ||||
| 其他融资活动 | 3 | 11 | |||||
| 融资活动提供的净现金 | $ | 10 | $ | 118 | |||
| 汇率变化的影响 | 1 | 1 | |||||
| 现金和现金等价物的净变化 | $ | (96 | ) | $ | 325 | ||
| 期初的现金和现金等价物 | 2,352 | 2,939 | |||||
| 期末的现金和现金等价物 | $ | 2,256 | $ | 3,264 | |||
| (1)Finance expense, net and other has been adjusted to include interest and taxes paid that were previously included in “Other non-cash operating activities.” Prior period amounts have been adjusted accordingly. | |||||||
未经审计的国际财务报告准则与经调整的非国际财务报告准则的调节表
| 截止到目前的三个月 | ||||||||||||
| (单位：百万美元) | 2023年3月31日 | 2022年12月31日 | 2022年3月31日 | |||||||||
| 毛利润 | $ | 515 | $ | 622 | $ | 469 | ||||||
| 毛利率 | 28.0 | % | 29.6 | % | 24.2 | % | ||||||
| 基于股份的补偿 | $ | 10 | $ | 11 | $ | 21 | ||||||
| Adjusted gross profit (1) | $ | 525 | $ | 633 | $ | 490 | ||||||
| Adjusted gross margin(1) | 28.5 | % | 30.1 | % | 25.3 | % | ||||||
| 营业利润 | $ | 290 | $ | 288 | $ | 225 | ||||||
| 经营利润率 | 15.8 | % | 13.7 | % | 11.6 | % | ||||||
| 基于股份的补偿 | $ | 31 | $ | 43 | $ | 54 | ||||||
| Restructuring charges(2) | $ | 5 | 94 | - | ||||||||
| 调整后的营业利润(1) | $ | 326 | $ | 425 | $ | 279 | ||||||
| Adjusted operating profit margin(1) | 17.7 | % | 20.2 | % | 14.4 | % | ||||||
| Net income(3) | $ | 254 | $ | 668 | $ | 178 | ||||||
| 净收益率 | 13.8 | % | 31.8 | % | 9.2 | % | ||||||
| 基于股份的补偿 | $ | 31 | $ | 43 | $ | 54 | ||||||
| Restructuring charges(2) | $ | 5 | 94 | - | ||||||||
| Income tax effect(4) | $ | - | $ | (5 | ) | $ | - | |||||
| Adjusted net income (1)(5) | $ | 290 | $ | 800 | $ | 232 | ||||||
| Adjusted net income margin(1) | 15.8 | % | 38.1 | % | 12.0 | % | ||||||
| 稀释后的每股收益 | $ | 0.46 | $ | 1.21 | $ | 0.33 | ||||||
| 基于股份的补偿 | $ | 0.05 | $ | 0.07 | $ | 0.09 | ||||||
| Restructuring charges(2) | $ | 0.01 | 0.17 | - | ||||||||
| 所得税影响 | $ | - | (0.01 | ) | - | |||||||
| 调整后的每股摊薄收益(1) | $ | 0.52 | $ | 1.44 | $ | 0.42 | ||||||
(1)Adjusted gross profit, adjusted operating income, adjusted net income, adjusted EBITDA, adjusted diluted earnings per share and related margins are Non-IFRS measures. See “Adjusted Financial Measures (Non-IFRS)” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and “Non-IFRS Financial Measures” for a discussion of why we believe these Non-IFRS measures are useful.
(2) Includes $3.1 million of share based compensation in Q4 2022.
(3)Includes the gain on sale of our EFK business in December 2022.
(4) Relates to restructuring charges since Q4 2022.
(5) Reflects change to adjusted net income definition discussed in more detail elsewhere in this release.
未经审计的净收入与调整后EBITDA的调节表
| 截止到目前的三个月 | ||||||||||||
| (单位：百万美元) | 2023年3月31日 | 2022年12月31日 | 2022年3月31日 | |||||||||
| 本期净收入 | $ | 254 | $ | 668 | $ | 178 | ||||||
| 折旧和摊销 | 343 | 409 | 408 | |||||||||
| 财务费用 | 31 | 28 | 29 | |||||||||
| 财务收入 | (32 | ) | (26 | ) | 这是对的。 | |||||||
| 所得税费用 | 23 | 8 | 29 | |||||||||
| 基于股份的补偿 | 31 | 43 | 54 | |||||||||
| 重组费用(1) | 5 | 94 | - | |||||||||
| Gains on transactions, legal settlements and transaction expenses(2) | - | (403 | ) | - | ||||||||
| Adjusted EBITDA(3)(4) | $ | 655 | $ | 821 | $ | 698 | ||||||
| Adjusted EBITDA margin(4) | 35.6 | % | 39.1 | % | 36.0 | % | ||||||
(1) 包括2022年第四季度310万美元的基于股票的补偿。
(2)Activity for the three months ended December 31, 2022, relates to the gain on sale of our EFK business.
(3)Reflects change to adjusted EBITDA definition discussed in more detail elsewhere in this release.
(4)Adjusted EBITDA and related margin are Non-IFRS measures. See “Adjusted Financial Measures (Non-IFRS)” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and “Non-IFRS Financial Measures” for a discussion of why we believe these Non-IFRS measures are useful.
调整后的财务措施（非国际财务报告准则）
In addition to the financial information presented in accordance with IFRS, this press release includes the following adjusted Non-IFRS metrics: adjusted gross profit, adjusted operating profit, adjusted net income, adjusted diluted earnings per share and adjusted EBITDA. We define adjusted gross profit as gross profit adjusted for share-based compensation expense. We define adjusted operating profit as profit from operations adjusted for share-based compensation expense and restructuring charges. We define adjusted net income as net income adjusted for share-based compensation expense, restructuring charges and the associated tax impact. We define adjusted diluted EPS as adjusted net income divided by the dilutive shares. We define adjusted EBITDA as net income, adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, divestiture gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlements.
We believe that in addition to our results determined in accordance with IFRS, these adjusted Non-IFRS measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These adjusted Non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. For further information regarding these Non-IFRS measures, please refer to “Unaudited Reconciliation of IFRS to Adjusted Non-IFRS” table above.
Adjusted Non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of adjusted Non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure.
电话会议和网播信息
GF will host a conference call with the financial community on Tuesday, May 9, 2023 at 8:30 a.m. U.S. Eastern Time (ET) to review the First Quarter 2023 results in detail. Interested parties may join the scheduled conference call by registering at https://register.vevent.com/register/BId1a488fb8dad4744927be5f12860ebee.
此次电话会议将进行网络直播，可以从GF投资者关系网站https://investors.gf.com。电话会议的重播将在实际电话会议结束后24小时内在GF投资者关系网站上提供。
关于GlobalFoundries
GlobalFoundries®（GF®）是世界领先的半导体制造商之一。通过开发和提供功能丰富的工艺技术解决方案，GF正在重新定义创新和半导体制造，在普遍存在的高增长市场提供领先的性能。GF提供独特的设计、开发和制造服务组合。GF拥有一支才华横溢的多元化员工队伍，其规模化的生产基地遍布美国、欧洲和亚洲，是全球客户信赖的技术来源。欲了解更多信息，请访问 www.gf.com.
前瞻性声明
本新闻稿包括反映我们目前对未来事件预期和看法的 "前瞻性声明"。这些前瞻性声明是根据《1995年美国私人证券诉讼改革法案》的 "安全港 "条款作出的，包括但不限于有关我们的财务前景、未来指导、产品开发、商业战略和计划以及市场趋势、机会和定位的声明。这些陈述是基于当前的预期、假设、估计、预测和在作出这些陈述时可获得的有限信息。诸如 "预期"、"预计"、"应该"、"相信"、"希望"、"目标"、"计划"、"目标"、"估计"、"可能"、"预测"、"可能"、"打算"、"应该"、"展望"、"正在进行 "等词语，以及这些词语的变化或这些词语的否定词和类似表述，旨在识别这些前瞻性声明，尽管并非所有前瞻性声明都包含这些识别词语。前瞻性声明受到各种已知和未知的风险和不确定性的影响。我们的假设和估计的任何不准确都可能影响这些前瞻性陈述中的预期或预测的实现。例如，我们的业务可能会受到COVID-19大流行病和俄罗斯/乌克兰冲突导致的供应链中断以及针对这些事件采取的行动的影响；我们产品的市场发展可能比预期或过去更慢；我们可能无法实现我们当前重组计划的全部收益；我们的经营业绩波动可能比预期更大。我们的经营业绩和现金流可能出现与我们的收入确认或其他方面有关的重大波动；允许未经授权访问我们的网络或数据或我们客户的数据的网络或数据安全事件可能损害我们的声誉；我们可能遇到与我们的技术有关的中断或性能问题，包括服务中断；以及全球经济状况可能恶化，包括由于利率上升、通货膨胀上升和任何潜在衰退。我们不可能预测所有的风险，也不可能评估所有因素对我们业务的影响，或者任何因素或因素的组合可能导致实际结果或成果与我们可能做出的任何前瞻性声明中的内容有实质性的差异。此外，我们在一个竞争激烈和快速变化的市场中运营，新的风险可能不时出现。你不应该依赖前瞻性声明作为对未来事件的预测。这些陈述是基于我们的历史业绩和我们目前的计划、估计和预测，并考虑到我们目前掌握的信息，因此你不应该过分依赖它们。
Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2022 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov.
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