STMicroelectronics closed on 2022 da record: with a strong increase in revenues and margins. Better results than analysts' estimates. The Italian-French semiconductor group published this morning, Thursday 26 January, the accounts of the fourth quarter 2022, which highlight revenues net growth of 26,4%, to 16,1 billion dollars. A much higher figure than the estimates indicated last January. L'Net income it practically doubled (+98%) to 3,96 billion dollars. Earnings per share increased 94% to $4,19. STM looks to a 2023 of further growth and important investments.
The results of 2022 and the excellent ones stime on the first quarter of 2023 they make the STM title fly. TO Business Square, at the start of the session, the semiconductor manufacturer is unable to open and marks a theoretical rise of 6,5% to then increase its price to 7,7%. Around 11 am the stock gains 6%.
STM fourth quarter 2022: leap in revenues and margins
In full-year 2022, STM reported net revenues of $16,13 billion, up 26,4% from $12,76 billion to $16,1 billion from $12,761 a year earlier. For the full year 2021, STM management forecast net revenues in the order of $16,1 billion. Operating profit jumped 83,5% to $4,4 billion as theNet income it virtually doubled (+98%) to $3,96 billion, which compares to $2 billion booked for the full year of 2021. As a result, earnings per share were $4,19.
Capital Expenditures at $920 million in Q2022 XNUMX
Le capital expenditure, net of proceeds from sales, amounted to 920 million in the last quarter and 3,52 billion for 2022. In the respective periods of the previous year, expenses amounted (in net terms) to 548 million and 1,83, 2022 billion. Inventories were 2,58 billion at the end of Q1,97 2021, compared to 101 billion in the same quarter of 91. Inventory Turnover was 2022 days at the end of the quarter, compared to 1,55 days in the same quarter. quarter of the previous year. Finally, again in the last quarter of XNUMX, net liquidity from operating activities amounted to €XNUMX billion.
Estimates for 2023, STM: "We will continue to grow"
For 2023 revenues are expected "in the range of $16,8 billion to $17,8 billion." This was stated by the president and managing director of STM Jean-Marc Chery emphasizing that the forecast is based "on strong demand from our customers and increased manufacturing capacity."
Also for the current year, "we plan to invest around 4 billion dollars - adds the top manager - mainly to expand our 300 mm silicon wafer factories and our silicon carbide manufacturing capacity, including our initiative in substrates”.
For the current quarter, however, the top management of STM expect a turnover of around 4,2 billion euros, corresponding to a growth of 18,5% year on year and a decrease of 5,1% compared to the previous quarter . The margin should be around 48%. The Italian-French group specified that this forecast is based on a presumed effective euro/dollar exchange rate of approximately 1,06 for the 1st quarter of 2023 and includes the impact of existing hedging contracts.
