Renesas publishes financial results for the second quarter ended June 30, 2022

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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