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Update on Segment Information

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LONDON, UK / ACCESSWIRE / March 3, 2021 / Dialog Semiconductor Plc (XETRA:DLG), a provider of highly integrated power and battery management, Configurable Mixed-signal IC, AC/DC, solid state lighting and Bluetooth(R) low energy wireless technology, and industrial edge computing solutions, today updates on changes to its organisation and segment information.

Organisational changes
The Group's organisation has been updated to reflect our growth strategy and the expansion of our business into the industrial end market. We acquired Creative Chips GmbH during Q4 2019 and designated it as our Industrial Mixed Signal business unit within our Custom Mixed Signal reporting segment. We acquired Adesto Technologies Corporation during Q3 2020 and initially reported its results as a separate operating segment. During Q4 2020, we brought these two businesses together to form a single reporting segment that we have named Industrial IoT. The following table summarises the segment changes:

Previous Reporting Segments

Changes (+/-)

New Reporting Segments

Custom Mixed Signal

- Industrial Mixed Signal (Creative Chips)

Custom Mixed Signal (CMS)

Advanced Mixed Signal

Advanced Mixed Signal (AMS)

Connectivity and Audio

Connectivity and Audio (C&A)

Adesto

+ Industrial Mixed Signal (Creative Chips)

Industrial IoT (IIoT)

Restated segment information
Management uses underlying measures as the principal basis for allocating resources to and assessing the financial performance of the Group's businesses. Underlying revenue is therefore the measure of segment revenue and underlying operating profit or loss the measure of segment profit or loss that is presented in the Group's segment disclosures.

Segment information for 2019 and for Q1/Q2/Q3 2020 restated to reflect these organisational changes is shown in Table 1 and Table 2 on page 2 of this Press Release and is available on our website in pdf and excel format:

https://www.dialog-semiconductor.com/organisational-update

The Group's results for 2019 and for Q1/Q2/Q3 2020 remain unchanged.

Q4 and FY 2020 results, including segment information are presented in accordance with the new reporting structure.

Table 1: Underlying revenue by segment (unaudited)

Underlying revenue(1)

Underlying revenue(1)

Three months

Three months

Three months

Three months

Year

ended

ended

ended

ended

ended

31 December 2019

27 March 2020

26 June 2020

25 September 2020

31 December 2019

US$000

US$000

US$000

US$000

US$000

Custom Mixed Signal

253,407

147,826

181,528

216,536

962,476

Advanced Mixed Signal

68,444

51,528

63,112

78,184

253,415

Connectivity & Audio

50,154

34,716

43,899

56,023

183,781

Industrial IoT

2,312

5,485

4,833

26,750

2,312

Total segments

374,317

239,555

293,372

377,493

1,401,984

Corporate and other unallocated items

6,265

8,927

8,927

8,922

18,505

Total Group

380,582

248,482

302,299

386,415

1,420,489

1 Revenue is from sales to external customers (there were no inter-segment sales)

Table 2: Underlying operating profit by segment

(unaudited)

Underlying operating profit/(loss)

Underlying operating profit/(loss)

Three months

Three months

Three months

Three months

Year

ended

ended

ended

ended

ended

31 December 2019

27 March 2020

26 June 2020

25 September 2020

31 December 2019

US$000

US$000

US$000

US$000

US$000

Custom Mixed Signal

82,401

29,744

48,216

67,945

282,617

Advanced Mixed Signal

2,747

55

5,461

11,399

15,236

Connectivity & Audio

4,349

(3,238)

1,798

6,802

21,607

Industrial IoT

(676)

341

64

(1,159)

(676)

Total segments

88,821

26,902

55,539

84,987

318,784

Corporate and other unallocated items

2,447

6,107

6,851

6,499

5,565

Total Group

91,268

33,009

62,390

91,486

324,349

Reconciliation of underlying measures to equivalent IFRS measures (unaudited)

Underlying performance measures exclude specific items of income or expense that are recognised in profit or loss reported in accordance with IFRS that we consider hinder comparison of the financial performance of our businesses from one period to another, with each other or with other similar businesses.

Except when presented as measures of segment revenue or segment profit or loss, underlying measures of performance are non-IFRS measures. Our use of non-IFRS measures is explained on pages 183 to 189 of our 2019 Annual Report and Accounts. Reconciliations of the Group's revenue and operating profit or loss reported in accordance with IFRS to the Group's revenue and operating profit or loss
on an underlying basis for each of the periods presented in the tables above were presented in our results announcements for the respective periods.

***

For further information please contact: Dialog Semiconductor
Jose Cano
Head of Investor Relations T: +44 (0)1793 756 961
jose.cano@diasemi.com

FTI Consulting London
Matt Dixon
T: +44 (0)2037 271 137
matt.dixon@fticonsulting.com

FTI Consulting Frankfurt
Katharina Tengler
T: +49 (0)69 92037 118
katharina.tengler@fticonsulting.com

About Dialog Semiconductor
Dialog Semiconductor is a leading provider of integrated circuits (ICs) that power mobile devices and the Internet of Things. Dialog solutions are integral to some of today's leading mobile devices and the enabling element for increasing performance and productivity on the go.
From making smartphones more power efficient and shortening charging times, enabling home appliances to be controlled from anywhere, to connecting the next generation of wearable devices, Dialog's decades of experience and world-class innovation help manufacturers get to what's next.

Dialog operates a fabless business model and is a socially responsible employer pursuing many programs to benefit the employees, community, other stakeholders and the environment in which we operate. Dialog Semiconductor Plc is headquartered in London with a global sales, R&D and marketing organization. In 2020, it had approximately $1.4 billion in revenue. It currently has approximately 2,300 employees worldwide. The company is listed on the Frankfurt (FWB: DLG) stock exchange (Regulated Market, Prime Standard, ISIN GB0059822006).
For more information, visit www.dialog-semiconductor.com.

Forward Looking Statements
This press release contains "forward-looking statements" that reflect management's current views with respect to future events. The words "anticipate," "believe," "estimate", "expect," "intend," "may," "plan," "project" and "should" and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainties, including, but not limited to: an economic downturn in the semiconductor and telecommunications markets; changes in currency exchange rates and interest rates, the timing of customer orders and manufacturing lead times, insufficient, excess or obsolete inventory, the impact of competing products and their pricing, political risks in the countries in which we operate or sale and supply constraints. If any of these or other risks and uncertainties occur (some of which are described under the heading "Managing risk and uncertainty" in Dialog Semiconductor's most recent Annual Report) or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. We do not intend or assume any obligation to update any forward-looking statement which speaks only as of the date on which it is made, however, any subsequent statement will supersede any previous statement.

Contact:
Jose Cano
Director, Investor Relations
jose.cano@diasemi.com
+44(0)1793756961

SOURCE: Dialog Semiconductor Plc.



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