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Renesas Electronics Corporation announced consolidated financial results in accordance with IFRS for the three and six months ended June 30, 2024.
Summary of Consolidated Financial Results (Note 1)
Summary of Consolidated Financial Results (Non-GAAP basis) (Note 2)
Three months ended June 30, 2024 Six months ended June 30, 2024 Billion Yen % of Revenue Billion Yen % of Revenue Revenue 358.8 100.0 710.6 100.0 Gross profit 203.6 56.7 402.9 56.7 Operating profit 110.6 30.8 224.1 31.5 Profit attributable to owners of parent 96.7 26.9 202.5 28.5 EBITDA (Note 3) 132.8 37.0 266.6 37.5 Summary of Consolidated Financial Results (IFRS basis)
Three months ended June 30, 2024 Six months ended June 30, 2024 Billion yen % of Revenue Billion yen % of Revenue Revenue 358.8 100.0 710.6 100.0 Gross profit 200.9 56.0 398.4 56.1 Operating profit 69.7 19.4 147.6 20.8 Profit attributable to owners of parent 59.8 16.7 139.6 19.6 EBITDA (Note 3) 120.6 33.6 246.3 34.7 Reconciliation of Non-GAAP gross profit to IFRS gross profit and Non-GAAP operating profit to IFRS operating profit
(Billion yen)
Three months ended June 30, 2024 Six months ended June 30, 2024 Non-GAAP gross profit
Non-GAAP gross margin203.6
56.7%402.9
56.7%Amortization of purchased intangible assets and depreciation of property, plant and equipment (0.3) (0.5) Stock-based compensation (0.8) (1.2) Other reconciliation items in non-recurring
expenses and adjustments (Note 4)(1.6) (2.7) IFRS gross profit
IFRS gross margin200.9
56.0%398.4
56.1%Non-GAAP operating profit
Non-GAAP operating margin110.6
30.8%224.1
31.5%Amortization of purchased intangible assets and depreciation of property, plant and equipment (28.7) (56.3) Stock-based compensation (9.2) (14.8) Other reconciliation items in non-recurring expenses and adjustments (Note 4) (2.9) (5.4) IFRS operating profit
IFRS operating margin69.7
19.4%147.6
20.8%- Note 1: All figures are rounded to the nearest 100 million yen.
- 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.
- Note 3: Operating profit + Depreciation and amortization.
- 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.
Original – Renesas Electronics
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STMicroelectronics reported second quarter net revenues of $3.23 billion, gross margin of 40.1%, operating margin of 11.6%, and net income of $353 million or $0.38 diluted earnings per share.
Jean-Marc Chery, ST President & CEO, commented:
- “Q2 net revenues were above the midpoint of our business outlook range driven by higher revenues in Personal Electronics, partially offset by lower than expected revenues in Automotive. Gross margin was in line with expectations.”
- “First half net revenues decreased 21.9% year-over-year, mainly driven by a decrease in Microcontrollers and Power and Discrete segments. Operating margin was 13.8% and net income was $865 million.”
- “During the quarter, contrary to our prior expectations, customer orders for Industrial did not improve and Automotive demand declined.”
- “Our third quarter business outlook, at the mid-point, is for net revenues of $3.25 billion, decreasing year-overyear by 26.7% and increasing sequentially by 0.6%; gross margin is expected to be about 38%, impacted by about 350 basis points of unused capacity charges.”
- “We will now drive the Company based on a plan for FY24 revenues in the range of $13.2 billion to $13.7 billion. Within this plan, we expect a gross margin of about 40%.”
Original – STMicroelectronics
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PANJIT introduced latest bridge rectifier packaging: the low-profile GBJA and KBJB. In the ever-evolving world of electronic components, where space efficiency is increasingly in demand, the new low-profile packages offer excellent solutions. When integrated into the PCB, the GBJA can reduce the total height by 34% compared to the GBJ, and the KBJB can reduce it by 36% compared to the KBJ package. This substantial reduction in body height makes them ideal for applications where space is at a premium, responding to the increasing demand for compact and efficient power solutions.
Key Features
Low Body Profile Design: The GBJA and KBJB packages are compact, significantly reducing height without changing pitch angles and body width. When incorporated into the PCB, the GBJA offers a 34% reduction in total height compared to the GBJ, while the KBJB achieves a 36% reduction compared to the KBJ package, offering excellent solutions for space-constrained designs.
Design Compatibility: By keeping the pitch angles and body width the same while just shortening the body height, the new packages remain compatible with the original ones, giving designers the flexibility to either maintain the original PCB layout or shrink the overall design size, including the heatsink. This adaptability ensures easy integration into existing designs and optimizes space utilization for various requirements, while also avoiding the risk of quality issues associated with traditional lead-bending methods to fit the design.Target Applications
GBJA and KBJB series are ideal for high-demand applications where compact power solutions are crucial:
• Slim Power Adapters: Perfect for creating thinner, more portable power adapters.
• Power Supplies for Gaming Consoles: Meet the needs of powerful gaming consoles with sleek, modern designs.
• TV Power Supplies: Ideal for TVs, offering unobtrusive and efficient power solutions.
By adopting the GBJA and KBJB series, manufacturers can create compact, efficient power supplies that meet the growing consumer demand for smaller, portable devices such slim TVs or other modern electronic devices.Bridge Rectifiers in GBJA and KBJB Packages
- KBJB1006
- GBJA1506
- KBJB1008
- GBJA1508
- KBJB1010
- GBJA1510
- KBJB1506
- GBJA2506
- KBJB1508
- GBJA2508
- KBJB1010
- GBJA2510
- GBJA3506
- GBJA3508
- GBJA3510
Original – PANJIT International
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Soitec announced consolidated revenue of 121 million Euros for the first quarter of FY’25 (ended June 30th, 2024), down 23% on a reported basis compared with 157 million Euros achieved in the first quarter of FY’24. This reflects a 24% decline at constant exchange rates and perimeter and a slightly positive currency impact of 1%.
Pierre Barnabé, Soitec’s CEO, commented: “The low point reached in the first quarter of our fiscal year 2025 was anticipated and is in line with our expectations, in a challenging market environment. The absorption of our customers’ RF-SOI inventories is progressing and should be completed towards the end of the first half of our fiscal year 2025. Beyond this quarter, the gradual recovery in RF-SOI deliveries and the continued growth of our increasingly diversified product portfolio will underpin the revenue increase throughout the second part of fiscal year 2025. We therefore reiterate our full year guidance.
Looking ahead, Soitec’s organic growth will be underpinned in all three of its end markets by increasingly powerful megatrends: 5G expansion and the continued premiumization of smartphones, the ongoing digitization and electrification of the automotive sector, the proliferation of edge AI devices, and the expansion of cloud AI computing power capabilities in a more sustainable way. Our innovation and industrial roadmaps are designed to reinforce our leadership in SOI while accelerating the diversification of our portfolio of engineered substrates with new compound semiconductors, beyond SOI.”
Original – Soitec
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Texas Instruments Incorporated (TI) reported second quarter revenue of $3.82 billion, net income of $1.13 billion and earnings per share of $1.22. Earnings per share included a 5-cent benefit for items that were not in the company’s original guidance.
Regarding the company’s performance and returns to shareholders, Haviv Ilan, TI’s president and CEO, made the following comments:
- “Revenue decreased 16% from the same quarter a year ago and increased 4% sequentially. Industrial and automotive continued to decline sequentially, while all other end markets grew.
- “Our cash flow from operations of $6.4 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production. Free cash flow for the same period was $1.5 billion.
- “Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $5.0 billion in capital expenditures and returned $4.9 billion to owners.
- “TI’s third quarter outlook is for revenue in the range of $3.94 billion to $4.26 billion and earnings per share between $1.24 and $1.48. We continue to expect our effective tax rate to be about 13%.”
Original – Texas Instruments
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NXP Semiconductors N.V. reported financial results for the second quarter, which ended June 30, 2024.
“NXP delivered quarterly revenue of $3.13 billion, consistent with our guidance, with all our focus end-markets performing in-line with our expectations. With our second quarter results and guidance for the third quarter NXP has successfully navigated the cyclical trough in our businesses and we expect to resume sequential growth. We continue to manage what is in our control enabling NXP to drive resilient profitability and earnings in a challenging demand environment,” said Kurt Sievers, NXP President and Chief Executive Officer.
Key Highlights for the Second Quarter 2024:
- Revenue was $3.13 billion, down 5% year-on-year;
- GAAP gross margin was 57.3% , GAAP operating margin was 28.7% and GAAP diluted Net Income per Share was $2.54;
- Non-GAAP gross margin was 58.6%, non-GAAP operating margin was 34.3%, and non-GAAP diluted Net Income per Share was $3.20;
- Cash flow from operations was $761 million, with net capex investments of $(184) million, resulting in non-GAAP free cash flow of $577 million;
- During the second quarter of 2024, NXP continued to execute its capital return policy with the payment of $260 million in cash dividends, and the repurchase of $310 million of its common shares. The total capital return of $570 million in the quarter represented 99% of second quarter non-GAAP free cash flow. On a trailing twelve month basis, capital return to shareholders represented $2.4 billion or 81% of non-GAAP free cash flow. The interim dividend for the second quarter 2024 was paid in cash on July 10, 2024 to shareholders of record as of June 13, 2024. Subsequent to the end of the second quarter, between July 1, 2024 and July 19, 2024, NXP executed via a 10b5-1 program additional share repurchases totaling $69 million;
- On April 9, 2024, NXP announced the 5nm S32N55 processor, the first device in the S32N family of vehicle super-integration processors. As the heart of the recently announced S32 CoreRide central compute solution, it offers scalable combinations of safe, real-time and applications processing to address automakers’ diverse central compute needs;
- On June 4, 2024, NXP announced a collaboration with ZF Friedrichshafen AG (“ZF”), a global leader in e-mobility, on next-generation SiC-based traction inverter solutions for electric vehicles (EVs). ZF will adopt NXP’s advanced GD316x high-voltage isolated gate drivers, to accelerate the adoption of 800-V and SiC power devices for next generation all electric vehicles; and
- On June 5, 2024, NXP and Vanguard International Semiconductor Corp. (“VIS”) announced the plan to create a manufacturing joint-venture VisionPower Semiconductor Manufacturing Company Pte Ltd (“VSMC”) which will build a new 300mm semiconductor wafer manufacturing facility in Singapore. The joint-venture fab will support 130nm to 40nm mixed-signal, power management and analog products, targeting the automotive, industrial, consumer and mobile end markets. The underlying process technologies are planned to be licensed and transferred to the joint venture from TSMC.
Original – NXP Semiconductors
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onsemi has signed a multi-year deal with Volkswagen Group to be the primary supplier of a complete power box solution as part of its next-generation traction inverter for its Scalable Systems Platform (SSP). The solution features silicon carbide-based technologies in an integrated module that can scale across all power levels – from high power to low power traction inverters to be compatible for all vehicle categories.
“By offering a complete power system solution that encompasses the entire power sub-assembly, we provide Volkswagen Group with a single, simplified modular and scalable platform that maximizes efficiency and performance for their vehicle lineup,” said Hassane El-Khoury, president and CEO of onsemi. “This new approach allows for the customization of power needs and the addition of features for different vehicles without compromising on performance, all while reducing cost.”
Based on the EliteSiC M3e MOSFETs, onsemi’s unique power box solution can handle more power in a smaller package which significantly reduces energy losses. The inclusion of three integrated half-bridge modules mounted on a cooling channel will further improve system efficiency by ensuring heat is effectively managed from the semiconductor to the coolant encasement.
This leads to better performance, improved heat control, and increased efficiency, allowing EVs to drive further on a single charge. By using this integrated solution, Volkswagen Group will be able to easily transition to future EliteSiC-based platforms and remain at the forefront of EV innovation.
“We are very pleased to have onsemi as a strategic supplier for the power box of the traction inverter for our first tranche in the SSP platform. onsemi has convinced us with a deeply verticalized supply chain from the growth of the raw material up to the assembly of the power box,” said Mr. Dirk Große-Loheide, Member of the Extended Executive Committee Group Procurement and Member of the Board Volkswagen Brand for “Procurement”.
Mr. Till von Bothmer, Senior Vice President VW Group Procurement for Powertrain added, “On top of the verticalization, onsemi has furthermore provided a resilient supply concept with regional silicon carbide fabs across Asia, Europe and the U.S. In addition, onsemi will continuously provide the latest SiC generation to ensure competitiveness.
Volkswagen Group will also benefit from onsemi’s planned investment to expand its silicon carbide manufacturing in the Czech Republic. The investment would establish an end-to-end production facility in Europe for the traction inverter power system. The proximity of onsemi’s facility would fortify Volkswagen Group’s supply chain while improving logistics and allowing for faster integration into the manufacturing process.
Original – onsemi
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Infineon Technologies AG announced that its CoolSiC™ 2000 V modules have been selected by Daihen Corporation for their innovative unit-type power conditioners for grid storage batteries. In the journey towards reducing carbon emissions, both grid storage batteries and the power conditioners that are linked to them play a vital role in facilitating the wider adoption of renewable energy sources like solar and wind power generation.
There has been an increasing demand for higher voltage storage batteries and power conditioners to enhance the effectiveness of power generation, storage, and transmission. Moreover, with the expansion of storage battery systems on a larger scale, finding suitable locations and minimizing construction costs have emerged as significant challenges.
The unit-type power conditioner for grid storage batteries launched by Daihen in March 2024 is the first product in the industry to achieve connection to storage batteries at a high DC link voltage of 1500 V. The higher voltage enables the product to be used with large-capacity storage battery facilities, which has resulted in a 40% reduction in the footprint of grid storage batteries compared to the conventional product.
The high power density is achieved by using Infineon’s 62 mm CoolSiC MOSFET 2000 V module (FF3MR20KM1H). In addition to the characteristics of SiC that enable high voltage, better thermal dissipation and high power density, Infineon’s SiC products feature M1H trench technology that increases the gate drive voltage range and provides high robustness and reliability against gate voltage spikes. Infineon was the pioneer in the industry to introduce the 2000 V class for a SiC module. This innovation has been instrumental in simplifying the inverter circuit configuration. Furthermore, the optimized 62 mm package has led to a substantial reduction in system size, contributing to enhanced efficiency and performance.
Mr. Akihiro Ohori, General Manager, Development Department, Energy Management System Division, Daihen, said, “In order to increase the voltage of power conditioners, the circuit configuration of conventional 1200 V devices had become complicated. However, by adopting Infineon’s 2000 V SiC modules, we were able to achieve a simplified circuit configuration and control design, thereby reducing development resources and the footprint.”
Masanori Fujimori, Marketing Director of the Industrial & Infrastructure Segment at Infineon Technologies Japan, said, “We are very pleased that our pioneering CoolSiC 2000 V module has contributed to the development of the industry’s highest power density power conditioners for grid storage batteries. We believe that Infineon’s SiC technology will address the need for higher efficiency in energy storage systems and will greatly contribute to the growth of renewable energy.”
Original – Infineon Technologies
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Power Master Semiconductor has released 2nd generation of the 1200V eSiC MOSFET to meet the requirements of higher efficiency, high power density, robust reliability, and ruggedness in various applications such as DC EV charging stations, solar inverters, energy storage systems (ESS), motor drives and industrial power supplies. 1200V eSiC MOSFETs offer significant system advantages such as higher power density, efficiency and less cooling effort due to its much lower power losses.
Therefore, SiC MOSFETs are gaining popularity especially for renewable energy systems, EV charging systems that required higher power density, efficiency and robustness. DC EV charging station is level-3 charger and its power level is increasing by modular configuration as demand of faster charging time and higher battery capacity of EV. DC EV charging provides a mostly constant current output for wide DC output voltage range (200V to 900V) and load profile.
The new generation of 1200V eSiC MOSFET, Gen2 improved key FOM characteristics such as gate charge (QG), stored energy in output capacitance (EOSS), reverse recovery charger (QRR) and output charge (QOSS) by up to 30% compared to previous generation. This new generation SiC MOSFET technology offers significant system advantages such as smaller, lighter, higher efficiency, and less cooling effort thanks to its much lower power losses in various power conversion applications.
1200V eSiC MOSFET Gen2 offer excellent switching performance and 100% tested avalanche capability. It achieved 44% lower switching loss compared to the previous generation by extremely low miller capacitance (QGD).
Power Master Semiconductor is steadfastly committed to developing cutting-edge power device solutions that prioritize efficiency and sustainability,” said Namjin Kim, Sr. Director Sales & Marketing. “The introduction of our new generation of 1200V eSiC MOSFET marks a substantial leap forward in facilitating the development of cleaner, more efficient power systems. We are confident that the 1200V eSiC Gen2 MOSFET will play a transformative role in high-performance applications.
Original – Power Master Semiconductor
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In the face of escalating climate crises and a dramatic rise in global energy demands, governments and industries are committing to ambitious climate goals aimed at mitigating environmental impact and securing a sustainable future. Key to these efforts is the transition to electrification to reduce carbon emissions and embrace renewable energy resources.
In a significant step towards accelerating this global transition, onsemi introduced its latest generation silicon carbide technology platform, EliteSiC M3e MOSFETs. The company also disclosed plans to release multiple additional generations through 2030.
“The future of electrification is dependent on advanced power semiconductors. Today’s infrastructure cannot keep up with the world’s demands for more intelligence and electrified mobility without significant innovations in power. This is critical to the ability to achieve global electrification and stop climate change,” said Simon Keeton, group president, Power Solutions Group, onsemi. “We are setting the pace for innovation, with plans to significantly increase power density in our silicon carbide technology roadmap through 2030 to be able to meet the growing demands for energy and enable the global transition to electrification.”
The EliteSiC M3e MOSFETs will play a fundamental role in enabling the performance and reliability of next-generation electrical systems at lower cost per kW, thus influencing the adoption and effectiveness of electrification initiatives. With the ability to operate at higher switching frequencies and voltages while minimizing power conversion losses, this platform is essential for a wide range of automotive and industrial applications such as electric vehicle powertrains, DC fast chargers, solar inverters and energy storage solutions.
Additionally, the EliteSiC M3e MOSFETs will enable the transition to more efficient, higher-power data centers to meet the exponentially increasing energy demands that power a sustainable artificial intelligence engine.
Through onsemi’s unique design engineering and manufacturing capabilities, the EliteSiC M3e MOSFETs achieve a significant reduction in both conduction and switching losses on the trusted and field-proven planar architecture. Compared to previous generations, the platform can reduce conduction losses by 30% and turn-off losses by up to 50%.
By extending the life of SiC planar MOSFETs and delivering industry-leading performance with EliteSiC M3e technology, onsemi can ensure the robustness and stability of the platform, making it a preferred choice for critical electrification applications
The EliteSiC M3e MOSFETs also offer the industry’s lowest specific on-resistance (RSP) with short circuit capability which is critical for the traction inverter market that dominates SiC volume. Packaged in onsemi’s state-of-the-art discrete and power modules, the 1200V M3e die delivers substantially more phase current than previous EliteSiC technology, resulting in approximately 20% more output power in the same traction inverter housing. Conversely, a fixed power level can now be designed with 20% less SiC content, saving costs while enabling the design of smaller, lighter and more reliable systems.
Additionally, onsemi provides a broader portfolio of intelligent power technologies including gate drivers, DC-DC converters, e-Fuses and more to pair with the EliteSiC M3e platform. The end-end onsemi combination of optimized, co-engineered power switches, drivers and controllers enable advanced features via integration, lowering overall system cost.
Global energy demands are projected to soar over the next decade, making the need for increased power density in semiconductors paramount. onsemi is leading innovation across its silicon carbide roadmap – from die architectures to novel packaging techniques – that will continue to address the general industry demand for increased power density.
With each new generation of silicon carbide, cell structures will be optimized to efficiently push more current through a smaller area, increasing power density. When coupled with the company’s advanced packaging techniques, onsemi will be able to maximize performance and reduce package size.
By applying the concepts of Moore’s Law to the development of silicon carbide, onsemi can develop multiple generations in parallel and accelerate its roadmap to bring several new EliteSiC products to market at an accelerated pace through 2030.
“We are applying our decades of experience in power semiconductors to push the boundaries of speed and innovation in our engineering and manufacturing capabilities to meet the rising global energy demands,” said Dr. Mrinal Das, senior director of technical marketing, Power Solutions Group, onsemi. “There is a huge technical interdependency between the materials, device and package in silicon carbide. Having full ownership over these key aspects allows us to have control over the design and manufacturing process and bring new generations to market much faster.”
The EliteSiC M3e MOSFET in the industry-standard TO-247-4L package is now sampling.
Original – onsemi
