TOKYO–(BUSINESS THREAD)–Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the six months ended June 30, 2022.
Summary of consolidated financial results (Note 1)
Three months are over
June 30, 2022
Six months are up
June 30, 2022
One billion yen
% of revenue
One billion yen
% of revenue
income
376.6
100.0
722.9
100.0
Operating profit
110.2
29.3
210.0
29.1
Profit attributable to the owners of the matrix
50.6
13.4
110.4
15.3
Capital expenditure (Note 2)
148.6
180.5
Amortization and depreciation
45.9
89.9
R&D expenses (Note 3)
51.4
97.0
Yen
Yen
Exchange rate (USD)
124
120
Exchange rate (EUR)
134
132
By June 30, 2022
One billion yen
Total assets
2,858.8
total equity
1,467.7
Equity attributable to the owners of the parent company
1,463.9
Equity ratio attributable to parent owners (%)
51.2
Liabilities with interest
886.0
Note 1:
All figures are rounded to the nearest 100 million yen.
Note 2:
Capital expenditures refer to the capital amount of tangible fixed assets (manufacturing equipment) and intangible assets based on the amount of investment decisions made during the three months and six months ended June 30, 2022. However, the investments of the former Dialog Semiconductors Plc (hereinafter “Dialog”) and Celeno Communications Inc. (hereafter “Celeno”) are shown as input base. Please note 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 acquisition costs for the business combinations with Dialog has been revised as of the three month end March 31, 2022 and for the business combinations with Celeno as of the three month end March 30, 2022 June 2022. The revised allocation of acquisition costs (PPA) has been reflected in the consolidated financial results for the year ended 31 December 2021 and the three months ended 31 March 2022.
RENESAS ELECTRONICS CORPORATION
Consolidated financial results for the second quarter ended June 30, 2022
English translation of the original Japanese document
July 28, 2022
Company name
: Renesas Electronics Corporation
Stock exchange where shares are traded
: Tokyo Stock Exchange, Prime Market
Code number
: 6723
url
:
representative
: Hidetoshi Shibata, President and CEO
Contact person
: Fujiko Yamaguchi, Vice President of IR Office
Tel. +81 (0)3-6773-3002
Shihanki Hokokusho Presentation Date (Scheduled)
: August 10, 2022
(Amounts are rounded to the nearest million yen)
1. Consolidated financial results for the semester ended June 30, 2022
1.1 Consolidated financial results
(% variation compared to the corresponding period of the previous year)
income
in operation
benefit
benefit
before taxes
benefit
benefit
attributable to
owners of
father
total
comprehensive
income
Millions
yen
%
Millions
yen
%
Millions
yen
%
Millions
yen
%
Millions
yen
%
Millions
yen
%
Six months ended June 30, 2022
722,908
71.5
210.005
219.8
147,423
190.6
110,575
191.9
110,437
192.9
504,953
299.7
Six months ended June 30, 2021
421,553
22.0
65,661
114.8
50,736
70.4
37,879
62.9
37,705
62.4
126,334
—
Basic
earnings
by action
diluted
earnings
by action
Yen
Yen
Six months ended June 30, 2022
56.96
55.82
Six months ended June 30, 2021
21.53
21/07
1.2 Consolidated financial situation
Total assets
total equity
fairness
attributable to
owners
Equity ratio
attributable to
owners
Millions of yen
Millions of yen
Millions of yen
%
June 30, 2022
2,858,842
1,467,728
1,463,898
51.2
December 31, 2021
2,426,301
1,153,398
1,150,081
47.4
2. Cash dividends
Cash dividends per share
In the end
first
quarter
In the end
of second
quarter
In the end
of third
quarter
In the end
of the year
total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended December 31, 2021
—
0.00
—
0.00
0.00
Year ended December 31, 2022
—
0.00
Year ending 31 December 2022 (forecast)
—
—
—
Note: Change in cash dividend forecast since last announced forecast: No
3. Forecast of consolidated results for the nine months ended September 30, 2022
Non-GAAP
income
Non-GAAP
The gross margin
Non-GAAP
Operating margin
Millions of yen
%
%
% pts
%
% pts
nine months
end
September 30, 2022
1,103,759
up to 1,111,759
62.3
up to 63.5
57.8
5.1
37.3
8.2
Note 1:
The Group reports quarterly its consolidated forecast (cumulative quarters) as a substitute for an annual forecast in interval format. Non-GAAP gross margin and non-GAAP operating margin forecasts are provided assuming the midpoint of 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 that non-GAAP measures provide useful information for understanding and evaluating the Group’s ongoing business results and therefore the forecasts are provided on a non-GAAP basis.
4. Others
4.1 Changes in significant subsidiaries for the semester ended June 30, 2022: No
(Changes in certain subsidiaries that give rise to changes in the scope of consolidation)
4.2 Changes in accounting policies, changes in accounting estimates and corrections of errors from previous periods
Changes in accounting policies with review of the accounting standard: No Changes in accounting policies except 4.2.1: No Changes in accounting estimates: No
4.3 Number of shares issued and in circulation (ordinary shares)
Number of shares issued and in circulation (including treasury shares)
As of June 30, 2022: 1,952,747,173 shares
At December 31, 2021: 1,943,805,775 shares Number of own portfolio
As of June 30, 2022: 168,069,831 shares
At December 31, 2021: 2,581 shares Average number of shares issued and outstanding
Six months ended June 30, 2022: 1,938,971,343 shares
Six months ended June 30, 2021: 1,751,223,268 shares
(Note) Information on the application of audit procedures: These financial results are not subject to quarterly review procedures by the independent auditor.
Warning statement
The Group will hold a results conference for investors and institutional analysts on July 28, 2022. The Group plans to post the materials provided at the meeting on the Group’s website on that day.
Statements about the financial prospects of Renesas Electronics Corporation (hereinafter, “the Company”) and its consolidated subsidiaries (hereinafter, “the Group”) are forward-looking statements that involve risks and uncertainties. We caution you in advance that actual results may differ materially from these forward-looking statements due to changes in various important factors.
The allocation of acquisition costs for the business combinations with Dialog has been revised as of the end of the three months ended March 31, 2022, and for the business combinations with Celeno as of the end of the three months ended March 30, 2022 of June 2022. the allocation of acquisition costs (PPA) has been reflected in the consolidated financial results for the year ended December 31, 2021 and the three months ended March 31, 2022. For more details, see Appendix 1.5, “Notes to the quarterly consolidated financial position. Statements (business combinations)” on page 16.
Forward-looking statements
Statements in this press release regarding the financial plans, strategies and prospects of Renesas Electronics Corporation and its consolidated subsidiaries (collectively “we”) are forward-looking statements that involve risks and uncertainties. We caution you in advance that actual results may differ materially from these forward-looking statements due to a number of important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia and Europe; market demand for products and services and competitive pricing pressure; ability to continue to gain acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the US dollar. Among other factors, the decline of the world economy; deterioration in financial conditions in global markets or deterioration in domestic and foreign securities markets may cause actual results to differ from anticipated results.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps us make life easier. A leading global supplier of microcontrollers, Renesas combines our expertise in integrated processing, analog, power and connectivity to provide complete semiconductor solutions. These winning combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected and intelligent devices that improve the way people work and live. More information at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube and Instagram.
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