TOKYO — (BUSINESS WIRE) — February 5, 2025 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS 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 |
Revenue |
292.6 |
100.0 |
1,348.5 |
100.0 |
Gross profit |
160.5 |
54.9 |
756.3 |
56.1 |
Operating profit |
75.4 |
25.8 |
397.9 |
29.5 |
Profit attributable to owners of parent |
71.9 |
24.6 |
360.4 |
26.7 |
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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Billion yen |
% of revenue |
Billion yen |
% of revenue |
Revenue |
292.6 |
100.0 |
1,348.5 |
100.0 |
Gross profit |
159.2 |
54.4 |
749.8 |
55.6 |
Operating profit |
22.1 |
7.5 |
223.0 |
16.5 |
Profit attributable to owners of parent |
21.8 |
7.4 |
219.1 |
16.2 |
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% |
| Amortization of purchased intangible assets and depreciation of property, plant and equipment |
(0.2) |
(1.0) |
| Stock-based compensation |
(0.8) |
(2.8) |
| Other reconciliation items in non-recurring expenses and adjustments (Note 4) |
(0.3) |
(2.6) |
| 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% |
| Amortization of purchased intangible assets and depreciation of property, plant and equipment |
(33.5) |
(122.4) |
| Stock-based compensation |
(11.4) |
(36.3) |
| Other reconciliation items in non-recurring expenses and adjustments (Note 4) |
(8.4) |
(16.2) |
| IFRS operating profit IFRS operating margin |
22.1 7.5% |
223.0 16.5% |
| Note 1: | All figures are rounded to the nearest 100 million yen. |
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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 Transphorm, Inc. (hereinafter “Transphorm”) and Altium Limited (hereinafter “Altium”) has been revised during the three months ended December 31, 2024. These revisions have been reflected in the consolidated financial results for the three months ended June 30 and September 30, 2024. On December 12, 2024, Altium changed its corporate name to Altium Pty Ltd. |
RENESAS ELECTRONICS CORPORATION
