TOKYO — (BUSINESS WIRE) — April 24, 2024 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the three months ended March 31, 2024.
Summary of Consolidated Financial Results (Note 1)
Summary of Consolidated Financial Results for the three months ended March 31, 2024 (Non-GAAP basis) (Note 2) |
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Three months ended
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Billion yen |
|
% of Revenue |
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Revenue |
351.8 |
|
100.0 |
|
Gross profit |
199.3 |
|
56.7 |
|
Operating profit |
113.5 |
|
32.3 |
|
Profit attributable to owners of parent |
105.9 |
|
30.1 |
|
EBITDA (Note 3) |
133.8 |
|
38.0 |
|
Summary of Consolidated Financial Results for the three months ended March 31, 2024 (IFRS basis) |
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Three months ended
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Billion yen |
% of Revenue |
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Revenue |
351.8 |
100.0 |
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Gross profit |
197.5 |
56.1 |
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Operating profit |
77.8 |
22.1 |
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Profit attributable to owners of parent |
79.9 |
22.7 |
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EBITDA (Note 3) |
125.7 |
35.7 |
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Reconciliation of Non-GAAP gross profit to IFRS gross profit and Non-GAAP operating profit to IFRS operating profit |
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(Billion yen) |
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Three months ended
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Non-GAAP gross profit |
199.3 |
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Non-GAAP gross margin |
56.7% |
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Amortization of purchased intangible assets and depreciation of property, plant and equipment |
(0.3) |
|
| Stock-based compensation |
(0.5) |
|
| Other reconciliation items in non-recurring expenses and adjustments (Note 4) |
(1.1) |
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| IFRS gross profit |
197.5 |
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| IFRS gross margin |
56.1% |
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|
|
|
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| Non-GAAP operating profit |
113.5 |
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| Non-GAAP operating margin |
32.3% |
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| Amortization of purchased intangible assets and depreciation of property, plant and equipment |
(27.6) |
|
| Stock-based compensation |
(5.6) |
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| Other reconciliation items in non-recurring expenses and adjustments (Note 4) |
(2.5) |
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| IFRS operating profit |
77.8 |
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| IFRS operating margin |
22.1% |
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| Note 1: |
All figures are rounded to the nearest 100 million yen. |
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| 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. |
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| Note 3: |
Operating profit + Depreciation and amortization. |
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| Note 4: |
“Other reconciliation items in non-recurring expenses and adjustments” includes the non-recurring items related to acquisitions and other adjustments as well as non-recurring profits or losses the Group believes to be applicable. |
| RENESAS ELECTRONICS CORPORATION |
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| Consolidated Financial Results for the First Quarter Ended March 31, 2024 |
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| English translation from the original Japanese-language document |
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| April 25, 2024 |
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| Company name |
: Renesas Electronics Corporation |
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| Stock exchanges on which the shares are listed |
: Tokyo Stock Exchange, Prime Market |
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| Code number |
: 6723 |
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| URL |
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| Representative |
: Hidetoshi Shibata, President and CEO |
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| Contact person |
: Tomohiko Sato, Vice President, IR Office
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| Filing date of Shihanki Hokokusho (scheduled) |
: May 9, 2024 |
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| (Amounts are rounded to the nearest million yen) |
| 1. Consolidated financial results for the three months ended March 31, 2024 |
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| 1.1 Consolidated financial results |
(% of change from corresponding period of the previous year) | |||||||||||||||||||||||||||||
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Revenue |
Operating profit |
Profit before tax |
Profit |
Profit attributable to owners of parent |
Total comprehensive income |
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|
Million yen |
|
% |
|
Million yen |
|
%
|
|
Million yen |
|
% |
|
Million yen |
|
%
|
|
Million yen |
|
% |
|
Million yen |
|
% |
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| Three months ended March 31, 2024 |
351,790 |
(2.1 |
) |
77,836 |
(36.9 |
) |
91,752 |
(28.2 |
) |
80,038 |
(24.0 |
) |
79,866 |
(24.1 |
) |
240,929 |
101.6 |
|
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| Three months ended March 31, 2023 |
359,374 |
3.8 |
|
123,265 |
23.5 |
|
127,762 |
62.3 |
|
105,271 |
75.6 |
|
105,211 |
75.7 |
|
119,479 |
(36.6 |
) |
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Basic earnings
|
Diluted earnings
|
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|
Yen |
Yen |
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| Three months ended March 31, 2024 |
44.90 |
44.28 |
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| Three months ended March 31, 2023 |
58.50 |
57.53 |
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| 1.2 Consolidated financial position |
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Total assets |
Total equity |
Equity attributable to owners |
Ratio of equity attributable to owners |
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Million yen |
Million yen |
Million yen |
% |
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| March 31, 2024 |
3,233,747 |
2,202,343 |
2,198,005 |
68.0 |
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| December 31, 2023 |
3,167,003 |
2,005,588 |
2,001,553 |
63.2 |
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