Renesas Announces Consolidated Forecasts
Renesas Electronics Corporation (TSE: 6723) has released its consolidated financial forecasts for the quarter ending March 31, 2022. The company emphasizes the inherent volatility of the semiconductor market, providing revenue forecasts based on IFRS without non-GAAP adjustments. For the quarter, Renesas forecasts revenue of 336 billion yen (±4 billion yen), with a projected non-GAAP gross margin of 55.5% and an operating margin of 34.5%. The forecast reflects an increase from 203.7 billion yen in the same period last year, indicating positive growth prospects.
- Forecasted revenue of 336 billion yen for Q1 2022, up from 203.7 billion yen in Q1 2021.
- Projected non-GAAP gross margin of 55.5% and operating margin of 34.5%.
- None.
The Group reports its consolidated forecasts on a quarterly basis as a range because of the difficulty of forecasting full-year results with high accuracy due to the short-term volatility of the semiconductor market.
Additionally, in order to provide useful information to better understand the Group’s constant business results, figures such as gross margin and operating margin are presented in the non-GAAP format, which excludes or adjusts the non-recurring items related to acquisitions and other adjustments including non-recurring expenses or income from the figures based on GAAP (IFRS based) following a certain set of rules. However, the figure provided as revenue is based on IFRS and does not include non-GAAP adjustments.
The revenue forecast is provided assuming the midpoint, and the range of the forecast is listed in brackets. The gross margin and operating margin forecasts are given assuming the midpoint in the revenue forecast.
1. Consolidated forecasts for the three months ending |
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In millions of yen |
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Revenue |
Non-GAAP
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Non-GAAP
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Original forecasts |
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Forecasts as of
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336,000 (±4,000) |
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Increase (decrease) |
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Percent change |
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Reference:
Corresponding period of the previous year
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203,678 |
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Note: |
Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP 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 as a non-GAAP basis. This adjustment and exclusion include depreciation of property, plant and equipment, amortization of intangible assets recognized from acquisitions, other PPA adjustments and stock-based compensation, as well as other non-recurring expenses and income the Group believes to be applicable. |
The consolidated forecasts for the three months ending
Refer to
The statements with respect to the financial outlook of the Group are forward-looking statements involving risks and uncertainties. The Company cautions you in advance that actual results may vary materially from such forward-looking statements due to several important factors.
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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Public Relations
Kyoko Okamoto
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Investor Relations
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