STM announces healthy 2022 operating profits

29 March 2023 News

STMicroelectronics has released its US GAAP financial results for the fourth quarter, ended 31 December 2022. The report details fourth quarter net revenues of $4,42 billion, a gross margin of 47,5%, operating margin of 29,1%, and net income of $1,25 billion, amounting to $1,32 diluted earnings per share. The reported net revenues represented a year-on-year increase of 24,4%.

Full year net revenues are reported to be $16,13 billion, with a gross margin of 47,3%. The operating margin was reported as 27,5%, with a net income of $3,96 billion.

Jean-Marc Chery, STM’s president and CEO, commented: “In Q4, ST delivered revenues and gross margin above the mid-point of the guidance. FY22 revenues increased 26,4% to $16,13 billion, driven by strong demand in automotive and industrial, and our engaged customer programmes. Operating margin increased to 27,5% from 19,0% in FY21, and net income almost doubled to $3,96 billion. We invested $3,52 billion in CAPEX, while delivering free cash flow of $1,59 billion.”

By product group, the following financials were reported:

• Automotive and discrete group – operating profit increased by 117,9% to $470,2 million. Operating margin was 27,7%.

• Analog, MEMS and sensors group – operating profit increased by 2,4% to $345,6 million. Operating margin was 25,8%.

• Microcontrollers and digital ICs group – operating profit increased by 56,6% to $495,3 million, with an operating margin of 35,8%.

For 2023, STM is planning to invest $4,0 billion in CAPEX, mainly to increase the 300 mm wafer fabrication facilities and its silicon carbide manufacturing capacity. Based on its strong customer demand and increased manufacturing capacity, the company plans on full year 2023 revenues in the range of $16,8 billion to $17,8 billion.

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