GlobalFoundries Results Presentation Deck
Unaudited reconciliation of Net Income to
Adjusted EBITDA
(Unaudited, in millions USD)
Net Income (Loss) for the period
Depreciation and amortization
Finance expense
Finance Income
Income tax expense
Share-based compensation
Restructuring charges (¹)
Labor optimizaton program
Divestiture gains and associated
expenses, legal settlements and
transaction expenses(²)
Adjusted EBITDA (1)(3)(4) (5)
Adjusted EBITDA margin
(1)(4)(5)
Q1
$(127)
377
29
ΝΑ
10
5
I
$294
20.7%
Q2
$(174)
408
29
ΝΑ
20
144
5
34
$466
28.8%
2021
Q3
$5
415
28
ΝΑ
22
29
2
4
$505
29.7%
Q4
$43
419
28
ΝΑ
26
55
5
8
$584
31.6%
Q1
$178
408
29
ΝΑ
29
54
$698
36.0%
Q2
$264
411
26
ΝΑ
30
53
$784
39.3%
2022
Q3
$336
395
28
(17)
19
32
I
$793
38.2%
Q4
$668
409
28
(26)
8
43
94
|
(403)
$821
39.1%
Q1
$254
343
31
(32)
23
31
5
$655
35.6%
2023
Q2
$237
340
34
(34)
28
44
19
$668
36.2%
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 discussed in more detailed elsewhere in this Investor Deck.
(4) Includes interest income of $1.0 million in Q1 2022 and $7.0 million in Q2 2022. Had these numbers been included, our adjusted EBITDA and adjusted EBITDA margin would have been respectively, $697 million and 35.9% for Q1 2022, and $777 million and
39.0% for Q2 2022.
(5)Adjusted EBITDA and related margin are Non-IFRS measures. See "IFRS to Non-IFRS Reconciliation" for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See "Financial Measures (Non-IFRS)" for a discussion of
why we believe these Non-IFRS measures are useful.
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