Renesas Reports Financial Results for the Year Ended December 31, 2024
Summary of Consolidated Financial Results (Note 1)
Summary of Consolidated Financial Results (Non-GAAP basis) (Note 2)
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Three months ended
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The year ended
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Billion yen |
% of revenue |
Billion yen |
% of revenue |
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Revenue |
292.6 |
100.0 |
1,348.5 |
100.0 |
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Gross profit |
160.5 |
54.9 |
756.3 |
56.1 |
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Operating profit |
75.4 |
25.8 |
397.9 |
29.5 |
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Profit attributable to owners of parent |
71.9 |
24.6 |
360.4 |
26.7 |
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EBITDA (Note 3) |
98.2 |
33.6 |
486.2 |
36.1 |
Summary of Consolidated Financial Results (IFRS basis)
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Three months ended
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The year ended
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Billion yen |
% of revenue |
Billion yen |
% of revenue |
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Revenue |
292.6 |
100.0 |
1,348.5 |
100.0 |
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Gross profit |
159.2 |
54.4 |
749.8 |
55.6 |
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Operating profit |
22.1 |
7.5 |
223.0 |
16.5 |
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Profit attributable to owners of parent |
21.8 |
7.4 |
219.1 |
16.2 |
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EBITDA (Note 3) |
78.4 |
26.8 |
433.7 |
32.2 |
Reconciliation of Non-GAAP gross profit to IFRS gross profit and Non-GAAP operating profit to IFRS operating profit
(Billion yen)
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Three months ended
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The year ended
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Non-GAAP gross profit Non-GAAP gross margin |
160.5 54.9% |
756.3 56.1% |
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Amortization of purchased intangible assets and depreciation of property, plant and equipment |
(0.2) |
(1.0) |
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Stock-based compensation |
(0.8) |
(2.8) |
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Other reconciliation items in non-recurring expenses and adjustments (Note 4) |
(0.3) |
(2.6) |
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IFRS gross profit IFRS gross margin |
159.2 54.4% |
749.8 55.6% |
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Non-GAAP operating profit Non-GAAP operating margin |
75.4 25.8% |
397.9 29.5% |
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Amortization of purchased intangible assets and depreciation of property, plant and equipment |
(33.5) |
(122.4) |
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Stock-based compensation |
(11.4) |
(36.3) |
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Other reconciliation items in non-recurring expenses and adjustments (Note 4) |
(8.4) |
(16.2) |
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IFRS operating profit IFRS operating margin |
22.1 7.5% |
223.0 16.5% |
| Note 1: |
All figures are rounded to the nearest |
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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. |
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| Note 5: |
The allocation of the acquisition costs for the business combination with |
Consolidated Financial Results for the Year Ended
English translation from the original Japanese-language document
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Company name |
: |
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Stock exchanges on which the shares are listed |
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Code number |
: 6723 |
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URL |
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Representative |
: |
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Contact person |
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| Tel. +81 (0)3-6773-3002 | |
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Filing date of Yukashoken Hokokusho (scheduled) |
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Date of starting payment of dividend (scheduled) |
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(Amounts are rounded to the nearest million yen, unless otherwise noted)
1. Consolidated financial results for the year ended
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
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% |
Million yen |
%
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Million yen |
% |
Million yen |
%
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Million yen |
% |
Million yen |
% |
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Year ended |
1,348,479 |
(8.2) |
222,977 |
(42.9) |
263,833 |
(37.5) |
219,422 |
(34.9) |
219,084 |
(35.0) |
529,209 |
6.9 |
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Year ended |
1,469,415 |
(2.1) |
390,766 |
(7.9) |
422,173 |
16.5 |
337,311 |
31.4 |
337,086 |
31.4 |
494,826 |
(12.6) |
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Basic earnings
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Diluted earnings
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Net income per equity attributable to owners |
Profit before tax ratio per net assets |
Operating profit ratio per revenue |
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Yen |
Yen |
% |
% |
% |
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Year ended
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122.51 |
120.85 |
9.7 |
6.9 |
16.5 |
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Year ended
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189.77 |
186.07 |
19.1 |
14.1 |
26.6 |
1.2 Consolidated financial position
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Total assets |
Total equity |
Equity attributable to owners |
Ratio of equity attributable to owners |
Equity attributable to owners per share |
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Million yen |
Million yen |
Million yen |
% |
Yen |
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4,490,436
3,167,003 |
2,542,298
2,005,588 |
2,537,382
2,001,553 |
56.5
63.2 |
1,413.77
1,126.31 |
1.3 Consolidated cash flows
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Cash flows from operating activities |
Cash flows from investing activities |
Cash flows from financing activities |
Cash and cash equivalents at the end of the year |
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Million yen |
Million yen |
Million yen |
Million yen |
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Year ended
Year ended
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340,484
496,627 |
(1,284,105)
(267,492) |
677,345
(181,247) |
229,249
434,681 |
2. Cash dividends
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Cash dividends per share |
Total dividend during the year |
Dividends payout ratio (consolidated) |
Dividends ratio per assets (consolidated) |
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At the end of first quarter |
At the end of second quarter |
At the end of third quarter |
At the end of year |
Total |
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Yen |
Yen |
Yen |
Yen |
Yen |
Million yen |
% |
% |
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Year ended
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--- |
0.00 |
--- |
28.00 |
28.00 |
49,758 |
14.8 |
2.8 |
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Year ended
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0.00 |
0.00 |
0.00 |
28.00 |
28.00 |
50,320 |
22.9 |
2.2 |
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Year ending
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Note 1: |
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The amount of the dividend for the year ended |
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Note 2: |
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For the year ending |
3. Forecast of consolidated results for the three months ending
(% of change from the previous year)
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Non-GAAP revenue |
Non-GAAP gross margin |
Non-GAAP operating margin |
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Million yen |
% |
% |
%pts |
% |
%pts |
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Three months
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301,500
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(14.3)
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54.0
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(2.7) |
24.0
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(8.3)
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Note 1: |
The Group reports its consolidated forecast on a quarterly basis as substitute for a yearly forecast 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. |
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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, and therefore forecasts are provided on a Non-GAAP basis. |
4. Others
4.1 Changes in significant subsidiaries for the full year ended
New: 37 (Company name)
Exclusion: 10 (Company name) iWatt B.V. other 9 companies
4.2 Changes in Accounting Policies, Changes in Accounting Estimates and Corrections of Prior Period Errors
1. Changes in accounting policies with revision of accounting standard: No
2. Changes in accounting policies except for 4.2.1: No
3. Changes in accounting estimates: No
4.3 Number of shares issued and outstanding (common stock)
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Number of shares issued and outstanding (including treasury stock)
As ofDecember 31, 2024 : 1,870,614,885 shares
As ofDecember 31, 2023 : 1,958,454,023 shares -
Number of treasury stock
As ofDecember 31, 2024 : 75,848,895 shares
As ofDecember 31, 2023 : 181,369,882 shares -
Average number of shares issued and outstanding
Year endedDecember 31, 2024 : 1,788,230,332 shares
Year endedDecember 31, 2023 : 1,776,296,088 shares
(Reference) Non-consolidated results for the year ended
Non-consolidated financial results
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Net sales |
Operating income |
Ordinary income |
Net income |
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Million yen |
% |
Million yen |
%
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Million yen |
%
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Million yen |
%
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Year ended
Year ended
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1,065,819 |
(8.6)
(0.9) |
314,758 |
(23.1)
(10.3) |
297,041 |
(28.3)
6.3 |
251,871 |
(24.6)
18.4 |
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Net income per share: basic |
Net income per share: diluted |
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Yen |
Yen |
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106.19
141.80 |
104.75
139.03 |
Non-consolidated financial position
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Total assets |
Net assets |
Equity ratio |
Net assets per share |
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Million yen |
Million yen |
% |
Yen |
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3,500,965
2,575,156 |
1,347,822
1,155,868 |
38.5
44.8 |
758.78
648.97 |
| Reference: |
Equity at the end of the year ended |
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| Equity at the end of the year ended |
(Note) Information regarding the implementation of audit procedures: These financial results are not subject to audit procedures by the independent auditor.
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Cautionary Statement
The Group will hold an earnings conference for institutional investors and analysts on
The statements with respect to the financial outlook of
The allocation of the acquisition costs for the business combination with For details, please refer to Appendix 3.5, “Notes to Consolidated Financial Statements (Business Combinations)” on page 20.
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About
(FORWARD-LOOKING STATEMENTS)
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. Such forward-looking statements do not represent any guarantee by management of future performance. In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,” “continue,” “endeavor,” “estimate,” “expect,” “initiative,” “intend,” “may,” “plan,” “potential,” “probability,” “project,” “risk,” “seek,” “should,” “strive,” “target,” “will” and similar expressions to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements discuss future expectations, identify strategies, contain projections of our results of operations or financial condition, or state other forward-looking information based on our current expectations, assumptions, estimates and projections about our business and industry, our future business strategies and the environment in which we will operate in the future. Known and unknown risks, uncertainties and other factors could cause our actual results, performance or achievements to differ materially from those contained or implied in any forward-looking statement, including, but not limited to, general economic conditions in our markets, which are primarily
This press release is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither we nor our advisors or representatives are under an obligation to update, revise or affirm.
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Media Contacts
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+81 3-6773-3001
pr@renesas.com
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Investor Relations
+81 3-6773-3002
ir@renesas.com
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