GlobalFoundries Results Presentation Deck
Q4'21 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
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$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.
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