Forward-looking Information Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) that are based on management’s current views and assumptions, and are conditioned upon and also involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those anticipated by such statements due to, among other factors: changes in global trade policies, including the adoption and expansion of tariffs and trade barriers, that could affect the macro-economic environment and adversely impact the demand for our products; uncertain macro-economic and industry trends (such as inflation and fluctuations in supply chains), which may impact production capacity and end-market demand for our products; customer demand that differs from projections which may require us to undertake transformation measures that may not be successful in realizing the expected benefits in full or at all; the ability to design, manufacture and sell innovative products in a rapidly changing technological environment; changes in economic, social, public health, labor, political, or infrastructure conditions in the locations where we, our customers, or our suppliers operate, including as a result of macroeconomic or regional events, geopolitical and military conflicts, social unrest, labor actions, or terrorist activities; unanticipated events or circumstances, which may impact our ability to execute our plans and/or meet the objectives of our R&D and manufacturing programs, which benefit from public funding; financial difficulties with any of our major distributors or significant curtailment of purchases by key customers; the loading, product mix, and manufacturing performance of our production facilities and/or our required volume to fulfill capacity reserved with suppliers or third-party manufacturing providers; availability and costs of equipment, raw materials, utilities, third-party manufacturing services and technology, or other supplies required by our operations (including increasing costs resulting from inflation); the functionalities and performance of our IT systems, which are subject to cybersecurity threats and which support our critical operational activities including manufacturing, finance and sales, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology; theft, loss, or misuse of personal data about our employees, customers, or other third parties, and breaches of data privacy legislation; the impact of intellectual property ("IP”) claims by our competitors or other third parties, and our ability to obtain required licenses on reasonable terms and conditions;changes in our overall tax position as a result of changes in tax rules, new or revised legislation, the outcome of tax audits or changes in international tax treaties which may impact our results of operations as well as our ability to accurately estimate tax credits, benefits, deductions and provisions and to realize deferred tax assets;variations in the foreign exchange markets and, more particularly, the U.S.dollar exchange rate as compared to the Euro and the other major currencies we use for our operations;the outcome of ongoing litigation as well as the impact of any new litigation to which we may become a defendant; product liability or warranty claims, claims based on epidemic or delivery failure, or other claims relating to our products, or recalls by our customers for products containing our parts; natural events such as severe weather, earthquakes, tsunamis, volcano eruptions or other acts of nature, the effects of climate change, health risks and epidemics or pandemics in locations where we, our customers or our suppliers operate;increased regulation and initiatives in our industry, including those concerning climate change and sustainability matters and our goal to become carbon neutral by 2027 on scope 1 and 2 and partially scope 3; epidemics or pandemics, which may negatively impact the global economy in a significant manner for an extended period of time, and could also materially adversely affect our business and operating results; industry changes resulting from vertical and horizontal consolidation among our suppliers, competitors, and customers; and the ability to successfully ramp up new programs that could be impacted by factors beyond our control, including the availability of critical third-party components and performance of subcontractors in line with our expectations.
Prior year quarters comparative information has been adjusted accordingly. (Appendix – continued)ST - Supplemental Financial Information Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 FY2024 FY2023 Net Revenues By Market Channel (%) Total OEM 73% 76% 73% 70% 70% 73% 66% Distribution 27% 24% 27% 30% 30% 27% 34% €/$ Effective Rate 1.09 1.08 1.08 1.09 1.08 1.08 1.08 Reportable Segment Data (US$ m) Analog products, MEMS and Sensors (AM&S) segment - Net Revenues 1,198 1,185 1,165 1,217 1,418 4,764 5,478 - Operating Income 176 175 144 185 300 680 1,191 Power and Discrete products (P&D) segment - Net Revenues 752 807 747 820 965 3,126 3,852 - Operating Income 89 121 110 138 245 458 1,006 Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group - Net Revenues 1,950 1,992 1,912 2,037 2,383 7,890 9,330 - Operating Income 265 296 254 323 545 1,138 2,197 Microcontrollers (MCU) segment - Net Revenues 887 829 800 950 1,272 3,466 5,668 - Operating Income 127 116 72 185 378 499 2,018 Digital ICs and RF Products (D&RF) segment - Net Revenues 481 426 516 475 623 1,898 2,272 - Operating Income 149 114 150 150 223 564 810 Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group - Net Revenues 1,368 1,255 1,316 1,425 1,895 5,364 7,940 - Operating Income 276 230 222 335 601 1,063 2,828 Others (a) - Net Revenues 3 4 4 3 4 15 16 - Operating Income (Loss) (172) (145) (101) (107) (123) (525) (414) Total - Net Revenues 3,321 3,251 3,232 3,465 4,282 13,269 17,286 - Operating Income 369 381 375 551 1,023 1,676 4,611 (a) Net revenues of Others include revenues from sales assembly services and other revenues.
Our definition of Free Cash Flow may differ from definitions used by other companies.(US$ m) Q42024 Q32024 Q2 2024 Q1 2024 Q4 2023 FY 2024 FY 2023 Net cash from operating activities 681 723 702 859 1,480 2,965 5,992 Net Capex (470) (565) (528) (967) (798) (2,531) (4,111) Payment for purchase of intangible assets, net of proceeds from sale (32) (20) (15) (26) (28) (93) (97) Payment for purchase of financial assets, net of proceeds from sale (51) (2) - - (2) (53) (10) Free Cash Flow 128 136 159 (134) 652 288 1,774 1 See Appendix for the definition of reportable segments.2 Non-U.S.GAAP.
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