GlobalFoundries Results Presentation Deck

Made public by

sourced by PitchSend

2 of 23

Creator

Gf logo
Gf

Category

Technology

Published

February 2022

Slides

Transcriptions

#1JE GlobalFoundries Fourth Quarter and Full Year 2021 Financial Results (Unaudited) February 8, 2022 0 would 2015#2Disclaimer This presentation and the accompanying oral presentation include express and implied "forward-looking statements," including but not limited to, statements regarding our financial outlook, product development, business strategy and plans, and market trends, opportunities and positioning. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, our business could be impacted by the COVID-19 pandemic and actions taken in response to it; the market for our products may develop more slowly than expected or than it has in the past; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers' data could damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate. For further discussion of potential risks and uncertainties, please see "Risk Factors" contained in our filings with the U.S. Securities and Exchange Commission. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. 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. This presentation and the accompanying oral presentation also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry and business. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the industry data generated by independent parties and contained in this presentation and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk. In addition to the financial information presented in accordance with International Financial Reporting Standards ("IFRS"), this presentation includes the following non-IFRS metrics: adjusted gross profit, adjusted EBITDA, adjusted operating profit, adjusted net income (loss) and adjusted diluted EPS. We define adjusted gross profit (loss) as gross profit (loss) adjusted for share-based compensation expense. We define adjusted EBITDA as net income (loss), excluding the impact of interest expense, tax expense, depreciation, amortization adjusted for share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements. We define adjusted operating profit (loss) as profit (loss) from operations adjusted for share-based compensation expense. We define adjusted net income (loss) as net income (loss) adjusted for share-based compensation expense. We define diluted adjusted EPS as adjusted net income (loss) divided by the weighted average number of ordinary shares outstanding. Our results are preliminary prior to the filing of form 20-F. We believe that in addition to our results determined in accordance with IFRS, these adjusted non-IFRS measures are useful in evaluating our business and the underlying trends that are affecting our performance. 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. These adjusted non-IFRS measures are used by both our management and our board of directors, together with the comparable IFRS information, in evaluating our current performance and planning future business activities. We believe that these adjusted non-IFRS measures, when used in conjunction with our IFRS financial information, also allow investors to better evaluate our financial performance in comparison to other periods and to other companies in our industry. However, 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. GlobalFoundries © 2022 All Rights Reserved GlobalFoundries™ 2#3Q4'21 and 2021 Results#4Key Q4'21 Results (Unaudited) Wafer Shipments 300mm equivalents (k) +5% 595 Q4'20 622 Q4'21 +74% Revenue (1) $ in millions 1,062 Q4'20 1,847 Q4'21 Adjusted EBITDA & Margin (2) $ in millions +251% GlobalFoundries © 2022 All Rights Reserved 166 16% Q4'20 584 32% Q4'21 Notes: 1. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the quarter ended December 31, 2020 would have been an estimated $501 million higher than reported results. 2. We define adjusted EBITDA as net income (loss), excluding the impact of interest expense, tax expense, depreciation, amortization adjusted for share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements; a reconciliation of adjusted non-IFRS to IFRS metrics can be found in the appendix. GlobalFoundries™ 4#5Key 2021 Results (Unaudited) Wafer Shipments 300mm equivalents (k) 2. +17% 2,030 2020 2,374 2021 +36% 4,851 2020 Revenue (1) $ in millions 6,585 2021 Adjusted EBITDA & Margin (2) $ in millions +89% GlobalFoundries © 2022 All Rights Reserved 976 20% 2020 1,848 28% Notes: 1. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the year ended December 31, 2020 would have been an estimated $810 million higher than reported results. 2021 We define adjusted EBITDA as net income (loss), excluding the impact of interest expense, tax expense, depreciation, amortization adjusted for share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements; a reconciliation of adjusted non-IFRS to IFRS metrics can be found in the Appendix. GlobalFoundries 5#6Key Recent Business Highlights BMW has signed a direct supply assurance agreement with high- tech microchip developer INOVA Semiconductors and GF to secure long-term semiconductor supplies GF announced an extension of its wafer supply agreement with AMD, increasing the volume of chips GF will supply and extending the terms of the agreement to secure supply through 2025 GF and Ford announced a non-binding strategic collaboration to advance semiconductor manufacturing and technology development within the US#7Quarterly Revenue Trend (Unaudited, $ in millions)¹ 1,091 Q3'20 1,062 Q4'20 1,418 Q1'21 1,620 Q2'21 1,700 GlobalFoundries © 2022 All Rights Reserved Q3'21 1,847 Q4'21 Note: 1. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the quarters ended September 30, 2020 and December 31, 2020 would have been an estimated $309 million and $501 million higher than reported results, respectively. +9% Q/Q GlobalFoundries™ 7#8Adjusted Gross Margin Trend (1,2) (Unaudited) (12.3)% (20.6)% Q4'20 7.0 % 16.5 % Q1'21 18.0 % 21.5% Q3'20 Q2'21 Q3'21 Q4'21 Note: 1. 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 divided by revenue. Please see Appendix for a reconciliation of adjusted non-IFRS to IFRS metrics. 2. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, adjusted gross profit for the quarters ended September 30, 2020 and December 31, 2020 would have been an estimated $10 million and $166 million higher, respectively. GlobalFoundries © 2022 All Rights Reserved GlobalFoundries 8#9Adjusted EBITDA Margin Trend (1) (Unaudited) 25.2% Q3'20 15.6% Q4'20 20.7% Q1'21 28.7% Q2'21 29.7% GlobalFoundries © 2022 All Rights Reserved Q3'21 31.6% Q4'21 Note: 1. We define adjusted EBITDA as net income (loss), excluding the impact of interest expense, tax expense, depreciation, amortization adjusted for share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements. Adjusted EBITDA margin is adjusted EBITDA divided by revenue. See Appendix for a reconciliation of adjusted non-IFRS metrics to IFRS metrics. GlobalFoundries™ 9#10Q4'21 Financial Summary (Unaudited, in millions, except per share data and wafer shipments) ¹,2 Revenue Gross profit (loss) Gross margin Adjusted gross profit (loss) Adjusted gross margin Operating profit (loss) Operating margin Adjusted operating profit (loss) Adjusted operating margin Net income (loss) Net income (loss) margin Adjusted net income (loss) Adjusted net income (loss) margin Diluted earnings per share (EPS) Adjusted diluted EPS Adjusted EBITDA Adjusted EBITDA margin Cash from operations Wafer shipments (300MM Equivalent) (in thousands) Q4'20 $1,062 $(218) (20.5)% $(218) (20.5)% $(491) (46.2)% $(491) (46.2)% $(524) (49.3)% $(524) (49.4)% $(1.05) $(1.05) $166 15.7% $201 595 Q3'21 $1,700 $300 17.6% $306 18.0% $52 3.1% $81 4.8% $5 0.3% $34 2.0% $0.01 $0.07 $505 29.7% $1,109 609 Q4'21 $1,847 $384 20.8% $397 21.5% $87 4.7% $142 7.7% $43 2.3% $98 5.3% $0.08 $0.18 $584 31.6% $1,148 622 Year-over-year Q4'20 vs Q4'21 $785 $601 GlobalFoundries © 2022 All Rights Reserved $615 $578 $633 $567 $622 $1.13 $1.23 $418 $947 27 74% 276% +4131bps 282% +4201bps 118% +5092bps 129% +5389bps 108% +5165bps 119% +5464bps 108% 117% 251% +1596bps 471% 5% Sequential Q3'21 vs Q4'21 $147 $84 $91 $35 $61 $38 $64 $0.07 $0.11 $79 $39 13 9% 28% +316bps 30% +346bps 67% +163bps 75% +291bps 760% +201bps 187% +328bps 700% 157% 16% +191bps 4% 2% Note: 1. Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted EBITDA, and adjusted diluted earnings per share are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the Appendix. 2. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the quarter ended December 31, 2020 would have been an estimated $501 million higher than reported results. GlobalFoundries™ 10#112021 Financial Summary (Unaudited, in millions, except per share data and wafer shipments) 1,2 Revenue Gross profit (loss) Gross margin Adjusted gross profit (loss) Adjusted gross margin Operating profit (loss) Operating margin Adjusted operating profit (loss) Adjusted operating margin Net income (loss) Net income (loss) margin Adjusted net income (loss) Adjusted net income (loss) margin Diluted earnings per share (EPS) Adjusted diluted EPS Adjusted EBITDA Adjusted EBITDA margin Cash from operations Wafer shipments (300MM Equivalent) (in thousands) FY 2020 $4,851 $(713) (14.7)% $(713) (14.7)% $(1,656) (34.1)% $(1,655) (34.1)% $(1,351) (27.8)% $(1,350) (27.8)% $(2.70) $(2.70) $976 20.1% $1,006 2,030 FY 2021 $6,585 $1,013 15.4% $1,068 16.2% $(60) (0.9)% $168 2.6% $(254) (3.9)% $(26) (0.4)% $(0.50) $(0.05) $1,848 28.1% $2,839 2,374 Year-over-year FY20 vs FY21 $1,734 $1,726 GlobalFoundries © 2022 All Rights Reserved $1,781 $1,596 $1,823 $1,097 $1,324 $2.20 $2.65 $872 $1,833 344 36% 242% +3008bps 250% +3092bps 96% +3323bps 110% +3667bps 81% +2399bps 98% +2744bps 81% 98% 89% +794bps 182% 17% Note: 1. Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted EBITDA, and adjusted diluted earnings per share are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the Appendix. 2. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the year ended December 31, 2020 would have been an estimated $810 million higher than reported results. GlobalFoundries™ 11#12Q4'21 Revenue by End Market (Unaudited, in millions) ¹ Smart Mobile Devices Communications Infrastructure & Datacenter Home and Industrial lo Automotive Personal Computing Non-Wafer and Corporate Other Revenue Revenue Q4'20 $717 $315 $211 $42 $261 $(484) $1,062 Q3'21 $849 $285 $218 $103 $113 $132 $1,700 Q4'21 $888 $304 $254 $93 $114 $194 $1,847 Year-over-year Q4'20 vs Q4'21 $171 $(11) (3)% $43 $51 24% $678 $785 20% $(147) (56)% 121% NM 74% Sequential Q3'21 vs Q4'21 $39 $19 $36 $(10) $1 $62 $147 5% 7% 17% (10)% 1% 47% 9% Note: 1. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the quarter ended December 31, 2020 would have been an estimated $501 million higher than reported results. The impact of this change in customer contractual terms is included the Non-Wafer and Corporate Other line above. GlobalFoundries © 2022 All Rights Reserved GlobalFoundries™ 12#132021 Revenue by End (Unaudited, in millions) ¹ Smart Mobile Devices Communications Infrastructure & Datacenter Home and Industrial lo Automotive Personal Computing Non-Wafer and Corporate Other Revenue Revenue End Market 2020 $2,421 $983 $724 $100 $1,025 $(402) $4,851 2021 $3,350 $998 $882 $287 $480 $588 $6,585 Year-over-year 2020 vs 2021 GlobalFoundries © 2022 All Rights Reserved $929 $15 $158 38% 2% $990 22% $187 187% $(545) (53)% NM $1,735 36% Note: 1. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the year ended December 31, 2020 would have been an estimated $810 million higher than reported results. The impact of this change in customer contractual terms is included in the Non-Wafer and Corporate Other line above. GlobalFoundries™ 13#14Q1'22 Guidance GlobalFoundries © 2022 All Rights Reserved GlobalFoundries™ 14#152. Key Q1'22 Guidance (4) (Unaudited, in millions except per share amounts) 4. Revenue Gross Profit¹ Margin % (mid-point)² Operating Profit¹ Margin % (mid-point)³ Net Income ¹ Margin % (mid-point)³ Diluted EPS1 Adj. EBITDA² Margin % (mid-point)³ IFRS $1,880 - $1,920 $383 $413 20.9% $101-$145 6.5% $54 - $96 3.9% $0.10 $0.17 Share-Based Compensation $24 $26 $57 $63 $57 $63 $0.10 $0.11 Adjusted $409 - $437 22.3% $164 $202 Note: 1. Adjusted gross profit (loss), operating profit (loss), net income, and diluted EPS for a particular period are non-IFRS metrics and are defined as gross profit (loss), operating profit (loss), net income, and EPS before share-based compensation expense, respectively. We define adjusted EBITDA as net income (loss), excluding the impact of interest expense, tax expense, depreciation, amortization adjusted for share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements. 3. Adjusted margins are non-IFRS metrics and are defined as adjusted profit (loss) divided by revenue for a particular period (using definitions of adjusted gross profit, adjusted operating profit, adjusted net income, and adjusted EBITDA). The guidance provided above contains forward-looking statements as defined in the Securities Exchange Act of 1934, as amended, 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 First 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 significant to GF's ability to estimate these items are out of its control and/or cannot be reasonably predicted. GlobalFoundries © 2022 All Rights Reserved 9.6% $117 - $153 7.1% $0.21 - $0.27 $580 - $620 31.6% GlobalFoundries 15#16Appendix: Preliminary Summary Financials and Reconciliations#17Statement of Operations (1) (Unaudited, in millions except per share amounts) Revenue Cost of sales Gross profit (loss) Operating expenses: Research and development Sales, marketing, general and administrative Total operating expenses Impairment charge Total non-operating expenses Operating profit (loss) Finance expense, net Other income (loss) Income tax benefit (expense) Net income (loss) Earnings (loss) per share: Basic Diluted Shares used in earnings (loss) per share calculation Basic Diluted Q1 $1,379 1,557 (178) 126 101 227 (404) (38) 145 0 ($297) $(0.59) $(0.59) 500 500 Q2 $1,318 1,501 (183) 117 109 226 2 2 (411) (42) 252 (36) ($237) 2020 500 500 Q3 $1,091 1,225 (134) 117 99 216 (350) (34) 35 56 ($293) Q4 500 500 $1,062 1,280 (218) 116 136 252 21 21 (491) (38) 13 $(0.47) $(0.58) $(1.05) $(0.47) $(0.58) $(1.05) (8) ($524) 500 500 Q1 $1,418 1,319 99 103 91 194 (95) (27) 6 (11) ($127) $(0.25) $(0.25) 500 500 Q2 $1,620 1,389 231 132 202 334 - 2021 (103) (28) (24) (20) ($174) $(0.35) $(0.35) 500 500 Q3 $1,700 $1,847 1,400 1,463 300 384 114 134 248 - 52 (27) 2 (22) $5 $0.01 $0.01 500 512 Q4 GlobalFoundries © 2022 All Rights Reserved 130 167 297 - - 87 (26) 8 (26) $43 $0.08 $0.08 522 540 Twelve Months Ended December 31, 2020 $4,851 5,563 (713) 476 445 921 23 23 (1,656) (151) 444 12 ($1,351) $(2.70) $(2.70) 500 500 December 31, 2021 $6,585 5,572 1,013 478 595 1,073 - (60) (108) (8) (78) ($254) $(0.50) $(0.50) 506 506 Note: 1. In 2020, the majority of our customer contractual terms were amended in a manner that resulted in moving from recognizing wafer revenue on a Percentage-of-Completion basis to recognizing revenue on a Wafer Shipment basis. This resulted in a one-time, non-recurring reduction in net revenues recognized in 2020. Had the change in terms not occurred, net revenues for the quarter ended September 30, 2020 and December 31, 2020 would have been an estimated $309 million and $501 million higher than reported results, respectively. GlobalFoundries™ 17#18Balance Sheet(1) (Unaudited, in millions) Assets: Cash and cash equivalents Receivables, prepayments and other Inventories Current assets Deferred tax assets Property, plant, and equipment, net Other assets Noncurrent assets Total assets Liabilities and equity: Current portion of long-term debt Other current liabilities Current liabilities Noncurrent portion of long-term debt Other liabilities Noncurrent liabilities Stockholders' equity: Common stock/additional paid-in capital Accumulated deficit Loan from shareholder and other¹ Total liabilities and equity December 31, 2020 $908 1,159 920 2,987 444 8,226 665 9,335 $12,322 382 1,514 1,896 1,956 1,228 3,184 11,718 (15,219) 10,743 $12,322 December 31, 2021 $2,939 1,231 1,121 5,291 353 8,713 671 9,737 $15,028 297 2,866 3,163 1,716 2,116 3,832 23,498 (15,469) 4 $15,028 Note: 1. On October 3, 2021, GF executed the conversion of the entire Shareholder Loans balance of $10.113 billion under our loan facilities with Mubadala Investment Company PJSC into additional paid-in-capital, which did not have an impact on shares outstanding or have any dilutive effects, as no additional shares were issued. GlobalFoundries © 2022 All Rights Reserved GlobalFoundries 18#19Statement of Cash Flows (Unaudited, in millions) Cash flows from operating activities: Net income (loss) Depreciation and amortization Finance expense, net Deferred income taxes Other non-cash operating activities Net change in working capital Net cash provided by operating activities Cash flows from investing activities: Purchases of property, plant, equipment, and intangible assets Other investing activities Net cash used in investing activities Cash flows from financing activities: Proceeds from issuance of equity instruments Repayments of shareholder loan Repayment of debt, net Other financing activities Net cash used in financing activities Effect of exchange rate changes. Net change in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Three Months Ended December 31, 2020 $(524) 626 38 14 (51) 98 $201 (203) 126 $(77) (137) (248) 38 (347) 3 (221) 1,129 $908 December 31, 2021 $43 419 26 40 (9) 629 $1,148 (649) 23 $(626) 1,444 (72) 27 1,399 (1) 1,920 1,019 $2,939 December 31, 2020 $(1,351) 2,523 151 (38) (338) 59 $1,006 (592) 226 $(366) (487) (556) 310 (732) 3 (89) 997 $908 Years Ended GlobalFoundries © 2022 All Rights Reserved December 31, 2021 $(254) 1,619 108 93 43 1,230 $2,839 (1,766) 316 $(1,450) 1,444 (568) (343) 117 650 (8) 2,031 908 $2,939 GlobalFoundries 19#20IFRS to Non-IFRS reconciliations (Unaudited, in millions except per share amounts) Gross profit (loss) for the period Share based compensation Adjusted gross profit (loss) Revenue Adjuste gross margin (%) Operating profit (loss) for the period Share based compensation Adjusted operating profit (loss) Revenue Adjusted operating margin (%) Net income (loss) for the period Share based compensation Adjusted net income (loss) Shares outstanding Adjusted diluted earnings per share Q1 $(178) $(178) $1,379 (13)% Q1 $(404) $(404) $1,379 (29)% Q1 $(297) $(297) 500 ($0.59) Q2 $(183) $(183) $1,318 (14)% Q2 $(411) 1 $(410) $1,318 (31)% Q2 $(237) 1 $(236) 500 ($0.47) 2020 2020 2020 Q3 $(134) $(134) $1,091 (12)% Q3 $(350) $(350) $1,091 (32)% Q3 $(293) $(293) 500 ($0.58) Q4 $(218) $(218) $1,062 (20. Q4 $(491) $(491) $1,062 (46)% Q4 $(524) $(524) 500 ($1.05) Q1 $99 $99 $1,418 7% Q1 $(95) $(95) $1,418 (7)% Q1 $(127) $(127) 500 ($0.25) Q2 $231 36 $267 $1,620 16 % Q2 $(103) 144 $41 $1,620 3% Q2 $(174) 144 $(30) 500 ($0.06) 2021 2021 2021 GlobalFoundries © 2022 All Rights Reserved Q3 $300 6 $306 $1,700 18% Q3 $52 29 $81 $1,700 5% Q3 $5 29 $34 512 $0.07 Q4 $384 13 $397 $1,847 21% Q4 $87 55 $142 $1,847 8% Q4 $43 55 $98 540 $0.18 FY 20 $(713) $(713) $4,850 (15)% FY 20 $(1,656) 1 $(1,655) $4,850 (34)% FY 20 $(1,351) 1 $(1,350) 500 ($2.70) FY 21 $1,013 55 $1,068 $6,585 16% FY 21 $(60) 228 $168 $6,585 3% FY 21 $(254) 228 $(26) 506 ($0.05) GlobalFoundries 20#21IFRS to Non-IFRS reconciliations (Unaudited, in millions) Adjusted EBITDA Net Income (Loss) for the period Depreciation and amortization Finance expense Income tax expense (benefit) Share based compensation Restructuring and corporate severance programs (Gain) on transactions, legal settlements and transaction expenses Adjusted EBITDA Q1 $(297) 39 3 (110) $277 Q2 $(237) 643 43 36 1 (228) $258 2020 Q3 $(293) 612 (56) 2 (24) $275 Q4 $(524) 626 38 8 11 7 $166 Q1 $(127) 377 29 10 5 $294 GlobalFoundries © 2022 All Rights Reserved Q2 $(174) 408 29 20 144 5 34 $466 2021 Q3 $5 415 28 22 29 2 4 $505 Q4 $43 419 28 26 55 5 8 $584 FY 20 $(1,351) 2,523 154 (12) 1 16 (356) $976 FY 21 $(254) 1,619 114 78 228 17 46 $1,848 GlobalFoundries 21#2218 GlobalFoundries™ For further information, please contact: Investor Relations [email protected] Thank You f O The information contained herein is the property of Global Foundries 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 GlobalFoundries at any time without notice. GlobalFoundries, the GlobalFoundries logo and combinations thereof are trademarks of GlobalFoundries Inc. in the United States and/or other jurisdictions. Other product or service names are for identification only and be trademarks or service marks of their respective owners. GlobalFoundries Inc. 2022. Unless otherwise indicated, all rights reserved. Do not copy or redistribute except as expressly permitted by GlobalFoundries.

Download to PowerPoint

Download presentation as an editable powerpoint.

Related

1st Quarter 2021 Earnings Presentation image

1st Quarter 2021 Earnings Presentation

Technology

Rackspace Technology Q4 2022 Earnings Presentation image

Rackspace Technology Q4 2022 Earnings Presentation

Technology

CBAK Energy Technology Investor Presentation image

CBAK Energy Technology Investor Presentation

Technology

Jianpu Technology Inc 23Q1 Presentation image

Jianpu Technology Inc 23Q1 Presentation

Technology

High Performance Computing Capabilities image

High Performance Computing Capabilities

Technology

SOLOMON Deep Learning Case Studies image

SOLOMON Deep Learning Case Studies

Technology

1Q20 Earnings image

1Q20 Earnings

Technology

Nutanix Corporate Overview image

Nutanix Corporate Overview

Technology