Significant Increase in Q2 Sales Year-on-Year, Driven by Solid Demand and Integration of Intersil. Achieved Improvements in Year-on-Year Q2 Gross and Operating Margins
- Q2 2017: Semiconductor sales of 194.3 billion yen, up 31.7% year-on-year and up 12.6% sequentially. Non-GAAP(1) gross margin of 45.7%, up 1.4 points year-on-year and operating profits (margin) of 29.0�billion yen (14.6%), up 8.2 billion yen (up 0.9 points) year-on-year
- Outlook for Q3 2017: Semiconductor sales of 191.9 billion yen, up 29.4% year-on-year, Non-GAAP gross margin of 45.5%, up 2.9 points year-on-year and Non-GAAP operating margin of 15.6%, up 4.7 points year-on-year
TOKYO — (BUSINESS WIRE) — July 27, 2017 — Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today reported financial results for the second quarter ended June 30, 2017.
“We have been successfully improving our gross and operating margins by pursuing sales growth and cost containment,” said Bunsei Kure, President and CEO, Renesas Electronics Corporation. “Our second quarter semiconductor sales increased by 31.7% year on year mainly driven by strong demand for our products in the automotive and industrial markets. The growth is also attributed to the integration of Intersil and the dissipation of the impact from the Kumamoto earthquake that occurred in the same period a year ago. We expect to achieve traction in semiconductor sales and gross/operating margins during the coming quarter on a year-on-year basis.”
Quarterly Financial Summary (Billion yen)
| Non-GAAP | Q2 2017 | Q1 2017 | Q2 2016 | QoQ | YoY | |||||
| basis |
(Apr-Jun 2017) |
(Jan-Mar 2017) |
(Apr-Jun 2016) |
|||||||
| Net Sales | 198.1 | 177.6 | 152.0 | +11.5% | +30.4% | |||||
| Semi. Sales | 194.3 | 172.6 | 147.5 | +12.6% | +31.7% | |||||
| Gross Margin | 45.7% | 45.5% | 44.3% | +0.2pts | +1.4pts | |||||
| Operating Income | 29.0 | 29.1 | 20.9 | -0.2% | +39.2% | |||||
| Operating Margin | 14.6% | 16.4% | 13.7% | -1.7pts | +0.9pts | |||||
|
EBITDA (2) |
47.3 | 46.2 | 35.4 | +2.5% | +33.8% | |||||
| Japan GAAP | Q2 2017 | Q1 2017 | Q2 2016 | QoQ | YoY | |||||
| basis |
(Apr-Jun 2017) |
(Jan-Mar 2017) |
(Apr-Jun 2016) |
|||||||
| Net Sales | 198.1 | 177.6 | 152.0 | +11.5% | +30.4% | |||||
| Semi. Sales | 194.3 | 172.6 | 147.5 | +12.6% | +31.7% | |||||
| Gross Margin | 45.7% | 45.5% | 42.8% |
+0.2pts |
+2.9pts | |||||
| Operating Income | 18.8 | 25.5 | 18.6 | -26.3% | +1.2% | |||||
| Operating Margin | 9.5% | 14.3% | 12.2% | -4.9pts | -2.7pts | |||||
| EBITDA | 46.0 | 45.6 | 33.1 | +0.8% | +39.1% | |||||
