TOKYO — (BUSINESS WIRE) — October 25, 2022 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the nine months ended September 30, 2022.
Summary of Consolidated Financial Results (Note 1)
|
Three months ended
|
Nine months ended
|
||||||||
|
Billion Yen |
% of Revenue |
Billion Yen |
% of Revenue |
||||||
Revenue |
387.1 |
100.0 |
1,110.0 |
100.0 |
||||||
Operating profit |
117.9 |
30.5 |
327.9 |
29.5 |
||||||
Profit attributable to owners of parent |
74.7 |
19.3 |
185.2 |
16.7 |
||||||
Capital expenditures (Note 2) |
19.8 |
|
200.3 |
|
||||||
Depreciation and amortization |
48.0 |
|
137.9 |
|
||||||
R&D expenses (Note 3) |
53.1 |
|
150.1 |
|
||||||
|
Yen |
|
Yen |
|
||||||
Exchange rate (USD) |
135 |
|
125 |
|
||||||
Exchange rate (EUR) |
139 |
|
135 |
|
||||||
|
As of September 30, 2022 |
|||||||||
|
Billion Yen |
|||||||||
Total assets |
3,013.3 |
|||||||||
Total equity |
1,654.2 |
|||||||||
Equity attributable to owners of parent |
1,650.2 |
|||||||||
Equity ratio attributable to owners of parent (%) |
54.8 |
|||||||||
Interest-bearing liabilities |
820.4 |
|||||||||
Note 1: |
All figures are rounded to the nearest 100 million yen. |
|
Note 2: |
Capital expenditures refer to the amount of capital for property, plant and equipment (manufacturing equipment) and intangible assets based on the amount of investment decisions made during the three months and nine months ended September 30, 2022. However, the investments from the former Dialog Semiconductors Plc (hereinafter “Dialog”) and Celeno Communications Inc. (hereinafter “Celeno”) are listed as an input basis. It should be noted that as of September 14, 2021, Dialog has changed its company name to Dialog Semiconductor Limited. |
|
Note 3: |
R&D expenses include capitalized R&D expenses recorded as intangible assets. |
|
Note 4: |
The allocation of the acquisition costs for the business combinations with Dialog has been revised at the end of the three months ended March 31, 2022 and for the business combinations with Celeno at the end of the three months ended June 30, 2022. The revised allocation of the acquisition costs (PPA) has been reflected in the consolidated financial results for the year ended December 31, 2021 and for the three months ended March 31, 2022. |
RENESAS ELECTRONICS CORPORATION
Consolidated Financial Results for the Third Quarter Ended September 30, 2022
English translation from the original Japanese-language document
October 26, 2022
Company name |
: Renesas Electronics Corporation |
|
Stock exchanges on which the shares are listed |
: Tokyo Stock Exchange, Prime Market |
|
Code number |
: 6723 |
|
URL |
||
Representative |
: Hidetoshi Shibata, President and CEO |
|
Contact person |
: Fujiko Yamaguchi, Vice President, IR Office Tel. +81 (0)3-6773-3002 |
|
Filing date of Shihanki Hokokusho (scheduled) |
: November 4, 2022 |
(Amounts are rounded to the nearest million yen)
1. Consolidated financial results for the nine months ended September 30, 2022
1.1 Consolidated financial results |
(% of change from corresponding period of the previous year) |
|||||||||||
|
Revenue |
Operating profit |
Profit before tax |
Profit |
Profit attributable to owners of parent |
Total comprehensive income |
||||||
|
Million yen |
% |
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
Million yen |
% |
Nine months ended September 30, 2022 |
1,110,040 |
63.3 |
327,942 |
180.0 |
243,102 |
147.0 |
185,438 |
151.3 |
185,153 |
151.7 |
687,261 |
278.7 |
Nine months ended September 30, 2021 |
679,861 |
--- |
117,124 |
--- |
98,427 |
--- |
73,792 |
--- |
73,564 |
--- |
181,460 |
--- |
|
Basic earnings
|
Diluted earnings
|
|
Yen |
Yen |
Nine months ended
|
98.07 |
96.21 |
Nine months ended
|
40.57 |
39.70 |
1.2 Consolidated financial position |
||||
|
Total assets |
Total equity |
Equity attributable to owners |
Ratio of equity attributable to owners |
|
Million yen |
Million yen |
Million yen |
% |
September 30, 2022 |
3,013,317 |
1,654,206 |
1,650,201 |
54.8 |
December 31, 2021 |
2,426,301 |
1,153,398 |
1,150,081 |
47.4 |
2. Cash dividends
|
Cash dividends per share |
||||
|
At the end of first quarter |
At the end of second quarter |
At the end of third quarter |
At the end of year |
Total |
|
Yen |
Yen |
Yen |
Yen |
Yen |
Year ended
|
--- |
0.00 |
--- |
0.00 |
0.00 |
Year ending
|
--- |
0.00 |
--- |
|
|
Year ending December 31, 2022 (forecast) |
|
|
|
0.00 |
0.00 |
Note: Change in forecast of cash dividends since the most recently announced forecast: Yes |
|||||
3. Forecast of consolidated results for the full year ending December 31, 2022
|
Non-GAAP Revenue |
Non-GAAP Gross Margin |
Non-GAAP Operating Margin |
|||
|
Million yen |
% |
% |
%pts |
% |
%pts |
Full year ending December 31, 2022 |
1,492,373 to 1,500,373 |
50.1 to 50.9 |
56.9 |
3.8 |
36.2 |
6.3
|
Note 1: |
The Group reports its consolidated forecast for the full year in a range format. The non-GAAP gross margin and the non-GAAP operating margin forecasts are provided assuming the midpoint in the non-GAAP revenue forecast. |
|
Note 2: |
Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP (IFRS) figures following a certain set of rules. The Group believes non-GAAP measures provide useful information in understanding and evaluating the Group’s constant business results, and therefore forecasts are provided on a non-GAAP basis. |
4. Others
4.1 Changes in significant subsidiaries for the nine months ended September 30, 2022: No
(Changes in specified subsidiaries resulting in changes in scope of consolidation)
4.2 Changes in Accounting Policies, Changes in Accounting Estimates and Corrections of Prior Period Errors
- Changes in accounting policies with revision of accounting standard: No
- Changes in accounting policies except for 4.2.1: No
- Changes in accounting estimates: No
4.3 Number of shares issued and outstanding (common stock)
-
Number of shares issued and outstanding (including treasury stock)
As of September 30, 2022: 1,957,677,423 shares
As of December 31, 2021: 1,943,805,775 shares -
Number of treasury stock
As of September 30, 2022: 168,069,831 shares
As of December 31, 2021: 2,581 shares -
Average number of shares issued and outstanding
Nine months ended September 30, 2022: 1,888,006,185 shares
Nine months ended September 30, 2021: 1,813,309,523 shares
(Note) Information regarding the implementation of audit procedures: These financial results are not subject to quarterly review procedures by the independent auditor.
Cautionary Statement The Group will hold an earnings conference for institutional investors and analysts on October 26, 2022. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.
The statements with respect to the financial outlook of Renesas Electronics Corporation (hereinafter “the Company”) and its consolidated subsidiaries (hereinafter “the Group”) are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to changes in several important factors.
The allocation of the acquisition costs for the business combinations with Dialog has been revised at the end of the three months ended March 31, 2022, and for the business combinations with Celeno at the end of the three months ended June 30, 2022. The revised allocation of the acquisition costs (PPA) has been reflected in the consolidated financial results for the year ended December 31, 2021 and for the three months ended March 31, 2022. For details, please refer to Appendix 1.5, “Notes to Quarterly Consolidated Financial Statements (Business Combinations)” on page 16. |
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics Corporation and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221025006210/en/
Contact:
Media Contacts
Kyoko Okamoto
Corporate Communications Office
Renesas Electronics Corporation
+81 3-6773-3001
pr@renesas.com
Investor Contacts
Yuuki Oka
Investor Relations Office
Renesas Electronics Corporation
+81 3-6773-3002
ir@renesas.com