TOKYO--(BUSINESS WIRE)--
Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today announced the difference between its consolidated financial results for the year ended December 31, 2022 (January 1, 2022 to December 31, 2022), which it disclosed on February 9, 2023, and the financial results in the previous period (January 1, 2021 to December 31, 2021).
The forecasts for the above period are not based on IFRS, therefore the differences are shown as the actual figures.
1. Difference between consolidated financial results for the year ended December 31, 2022 and the year ended December 31, 2021
In millions of yen
Revenue
Operating Profit
Profit before tax
Profit
Profit attributable to owners of parent
Year ended
December 31, 2021
993,908
173,827
142,718
119,687
119,536
Year ended
December 31, 2022
1,500,853
424,170
362,299
256,787
256,632
Difference
506,945
250,343
219,581
137,100
137,096
Difference (%)
51.0%
144.0%
153.9%
114.5%
114.7%
2. Background to the difference
Consolidated revenue for the year ended December 31, 2022 was 1,500.9 billion yen, a 51.0% increase year on year. This was mainly due to a sales increase effect from the consolidation of Dialog Semiconductor Plc acquired on August 31, 2021 and yen depreciation, in addition to an increase in revenue in the Automotive Business supported by continued growth in semiconductor contents per vehicle as well as an increase in revenue in the Industrial/Infrastructure/IoT Business from demand expansion in the infrastructure market such as datacenters.
The gross profit increased from improvements in product mix in addition to growth in revenue. In addition, the operating profit, profit before tax, profit, and profit attributable to owners of parent for the year ended December 31, 2022 significantly exceeded the results from the previous period, supported by the company’s efforts to streamline business operations.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube, and Instagram.
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.