Renesas Reports Financial Results for the First Quarter Ended March 31, 2024

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)

 

Three months ended
March 31, 2024

 

Billion yen

 

% of Revenue

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)

 

Three months ended
March 31, 2024

 

Billion yen

% of Revenue

Revenue

351.8

100.0

Gross profit

197.5

56.1

Operating profit

77.8

22.1

Profit attributable to owners of parent

79.9

22.7

EBITDA (Note 3)

125.7

35.7

Reconciliation of Non-GAAP gross profit to IFRS gross profit and Non-GAAP operating profit to IFRS operating profit

(Billion yen)

 

Three months ended
March 31, 2024

Non-GAAP gross profit

199.3

Non-GAAP gross margin

56.7%

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)

IFRS gross profit

197.5

IFRS gross margin

56.1%

 

 

Non-GAAP operating profit

113.5

Non-GAAP operating margin

32.3%

Amortization of purchased intangible assets and depreciation of property, plant and equipment

(27.6)

Stock-based compensation

(5.6)

Other reconciliation items in non-recurring expenses and adjustments (Note 4)

(2.5)

IFRS operating profit

77.8

IFRS operating margin

22.1%

Note 1:

All figures are rounded to the nearest 100 million yen.

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.

Note 3:

Operating profit + Depreciation and amortization.

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

Consolidated Financial Results for the First Quarter Ended March 31, 2024

English translation from the original Japanese-language document

 

April 25, 2024

 

Company name

: Renesas Electronics Corporation

Stock exchanges on which the shares are listed

: Tokyo Stock Exchange, Prime Market

Code number

: 6723

URL

: https://www.renesas.com

Representative

: Hidetoshi Shibata, President and CEO

Contact person

: Tomohiko Sato, Vice President, IR Office
Tel. +81 (0)3-6773-3002

Filing date of Shihanki Hokokusho (scheduled)

: May 9, 2024

(Amounts are rounded to the nearest million yen)

1. Consolidated financial results for the three months ended March 31, 2024

 

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

 

%

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

 

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

)

 

Basic earnings
per share

Diluted earnings
per share

 

Yen

Yen

Three months ended March 31, 2024

44.90

44.28

Three months ended March 31, 2023

58.50

57.53

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

%

March 31, 2024

3,233,747

2,202,343

2,198,005

68.0

December 31, 2023

3,167,003

2,005,588

2,001,553

63.2


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