STM Posts 2024 Semi-Annual IFRS Accounts

TL;DR

STM dropped its 2024 semi-annual IFRS results, check 'em out.

AI Summary

STMicroelectronics N.V. (STM) filed a Form 6-K on August 21, 2024, announcing the posting of its IFRS 2024 Semi-Annual Accounts. The filing includes the company's financial results for the period ending June 29, 2024. The report is filed as of August 21, 2024, and is submitted under the 1934 Act.

Why It Matters

This filing provides investors with the latest financial performance data for STMicroelectronics, crucial for assessing the company's health and making investment decisions.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of financial results and does not contain new material risks.

Key Players & Entities

• STMicroelectronics N.V. (company) — Registrant
• 0000932787-24-000013 (filing_id) — Accession Number
• August 21, 2024 (date) — Filing Date
• June 29, 2024 (date) — Reporting Period End Date
• 1-13546 (file_number) — SEC File Number

FAQ

Key Financial Figures

• $291 billion — y 7% for our SAM to reach approximately $291 billion and $118 billion, respectively. Our fi
• $118 b — to reach approximately $291 billion and $118 billion, respectively. Our first half 20
• $6,697 m — ur first half 2024 revenues amounted to $6,697 million, decreasing by 21.9% on a year-ov
• $1.08 — nge rate for the first half of 2024 was $1.08 for 1.00 compared to $1.07 for 1.00 for
• $1.07 — of 2024 was $1.08 for 1.00 compared to $1.07 for 1.00 for the first half of 2023. O
• $1,725 million — tive (SGA) and RD expenses decreased to $1,725 million for the first half of 2024, compared to
• $1,754 million — for the first half of 2024, compared to $1,754 million in the first half of 2023, mainly due t
• $74 m — d expenses increased to a net income of $74 million, compared to a net expense of $8
• $8 million — 4 million, compared to a net expense of $8 million in the first half of 2023, mainly due t
• $941 million — ng profit in the first half of 2024 was $941 million compared to $2,304 million in the first
• $2,304 million — lf of 2024 was $941 million compared to $2,304 million in the first half of 2023, reflecting l
• $348 million — finance costs resulted in a net gain of $348 million in the first half of 2024, compared to
• $228 million — half of 2024, compared to a net cost of $228 million in the first half of 2023. The first ha
• $253 million — f of 2024 amount includes a net gain of $253 million for the fair value adjustment of outsta
• $282 million — dded options (compared to a net loss of $282 million in the first half of 2023). Our net pr

Filing Documents

• stm_sarxmaster-semiannual2.htm (6-K) — 1212KB
• image1a.jpg (GRAPHIC) — 326KB
• image_8.jpg (GRAPHIC) — 8KB
• imagea.jpg (GRAPHIC) — 2924KB
• 0000932787-24-000013.txt ( ) — 5700KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Report on Form 6-K dated August 21, 2024 Commission File Number 1-13546 STMicroelectronics N.V. (Name of Registrant) WTC Schiphol Airport Schiphol Boulevard 265 1118 BH Schiphol Airport The Netherlands (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F S Form 40-F Enclosure A press release dated August 21, 2024 announcing that STMicroelectronics has posted its IFRS 2024 Semi Annual Accounts, and the STMicroelectronics N.V. Semi Annual IFRS Report 2024. Contents 1. CORPORATE OVERVIEW 4 1.1. History and development of STMicroelectronics 4 1.2. Strategy and objectives 4 1.3. Organizational structure 5 1.4. Products and activities 5 1.5. Sales, Marketing and Distribution 6 1.6. Research Development 6 1.7. Sustainability 7 2. REPORT OF THE MANAGING BOARD 8 2.1. Business overview 8 2.2. Segment information 8 2.3. Liquidity and financial position 9 2.4. Business and financial outlook 13 2.5. Other developments 13 2.6. Related party transactions 15 2.7. Financial Risk Management 15 2.8. Business risk information 16 2.9. Auditor's involvement 17 3. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ("SEMI ANNUAL FINANCIAL STATEMENTS") 18 3.1. Consolidated income statement 18 3.2. Consolidated statement of comprehensive income 19 3.3. Consolidated statement of financial position 20 3.4. Consolidated statement of changes in equity 21 3.5. Consolidated statement of cash flows 23 3.6. Notes to the consolidated financial statements 24 3.6.1. Corporate information 24 3.6.2. Basis of preparation 24 3.6.3. Significant accounting policies 24 3.6.4. Critical accounting estimates and judgements 25 3.6.5. Revenues 26 3.6.6. Segment information 27 3.6.7. Property, plant and equipment and intangible assets 29 3.6.8. Goodwill 29 3.6.9. Other financial assets and financial liabilities 30 3.6.10 Other non-current assets 41 3.6.11. Leases 41 3.6.12. Inventories 43 3.6.13. Other receivables and assets 43 3.6.14. Cash and cash equivalents 44 3.6.15. Equity 44 3.6.16. Other non-current liabilities 46 3.6.17. Other payables and accrued liabilities 46 3.6.18. Expenses by nature 48 3.6.19. Other income expenses 48 3.6.20. Finance income costs 49 3.6.21. Income tax 50 3.6.22. Earnings per share 50 3.6.23. Related-party transactions 51 3.6.24. Contingencies, claims and legal proceedings 51 4. MANAGING BOARD'S STATEMENT S 53 5. ABOUT STMICROELECTRONICS 54 STMicroelectronics Semi Annual Report 2024 Contents 3 1. Corporate overview 1.1. History and development of STMicroelectronics STMicroelectronics N.V. ("ST" or "the Company") was formed and incorporated in 1987 as a result of the combination of the semiconductor business of SGS Microelettronica (then owned by Societ Finanziaria Telefonica (S.T.E.T.), an Italian corporation) and the non-military business of Thomson Semiconducteurs (then owned by the former Thomson-CSF, now Thales, a French corporation). We completed our initial public offering in December 1994 with simultaneous listings on the Bourse de Paris (now known as "Euronext Paris") and the New York Stock Exchange ("NYSE"). In 1998, we also listed our shares on the Borsa Italiana S.p.A. ("Borsa Italiana"). We operated as SGS-Thomson Microelectronics N.V. until May 1998, when we changed our name to STMicroelectronics N.V. We are organized under the laws of The Netherlands, with our corporate legal seat in Amsterdam, The Netherlands, and our head offices at WTC Schiphol Airport, Schiphol Boulevard 265, 1118 BH Schiphol, The Netherlands. Our telephone number there is +31-20-654-3210. Our headquarters and operational offices are managed through our wholly owned subsidiary, STMicroelectronics International N.V., and are located at 39 Chemin du Champ des Filles, 1228 Plan-les-Ouates, Geneva, Switzerland. Our main telephone number there is +41-22-929-2929. Our agent for service of process in the United States related to our registration under the U.S. Securities Exchange Act of 1934, as amended, is Corporation Service Company, 80 State Street, Albany, New York, 12207. Our operations are also conducted through our various subsidiaries, which are organized and operated according to the laws of their country of incorporation, and consolidated by the Company. 1.2. Strategy and objectives Our strategy focuses on long-term value creation for the Company and its affiliated enterprises and takes into account the short-, medium- and longer-term evolution of the markets we serve and the environment and opportunities we see. It stems from k

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View this 6-K filing on SEC EDGAR