Renesas Announces Consolidated Forecasts
Renesas Electronics Corporation (TSE: 6723) has released its consolidated financial forecasts for the nine months ending September 30, 2022. The company anticipates a revenue range of 1,103,759 to 1,111,759 million yen, reflecting ongoing volatility in the semiconductor market. Forecasts include a non-GAAP gross margin of 57.8% and an operating margin of 37.3%. Renesas emphasizes that these figures are subject to fluctuations in currency rates, particularly between the yen and the USD, and could significantly differ from actual results due to various uncertainties.
- Projected revenue for the nine months ending September 30, 2022, is between 1,103,759 and 1,111,759 million yen.
- Non-GAAP gross margin forecast at 57.8% indicates strong operational performance.
- Non-GAAP operating margin forecast of 37.3% suggests effective cost management.
- Forecasts are presented in a wide range due to short-term volatility in the semiconductor market.
- Actual results may vary materially from these forecasts due to economic and market uncertainties.
The Group reports its consolidated forecasts for the next quarter (cumulative quarters) 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 revenue, 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 financial figures (GAAP, IFRS basis) following a certain set of rules. The gross margin and operating margin forecasts are given assuming the midpoint in the revenue forecast.
1. Consolidated forecasts for the nine months ending
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Non-GAAP
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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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1,103,759
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Increase (decrease) |
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Percentage change |
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Reference:
Corresponding period of the previous year
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679,986 |
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Note: |
Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP (IFRS based) 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 results are provided on a non-GAAP basis. This adjustment and exclusion include the amortization of intangible assets recognized from acquisitions, other PPA (purchase price allocation) 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 nine months ending
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.
Refer to
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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