Infineon had calendar Q3 (fiscal Q4) revenue of €4.149 billion for a profit of  €1.044 billion at a margin of  25.2% with free cash flow of  €614 million.

The company expects revenues of €17 billion at a 24.2% margin in 2024.

For FY 2023 to September 30, Infineon had revenues if €16.309 billion, up 15% on FY 2022 for a profit up 30% y-o-y at €4.399 billion with a margin of 27% and free cash flow of €1.158 billion.

Free Cash Flow adjusted for investment in frontend buildings and the acquisition of GaN Systems should be around €2.2 billion and reported Free Cash Flow around €400 million

For calendar Q4 (fiscal Q1) Infineon expects revenues of around €3.8 billion at a margin of 22%.

“In the 2023 fiscal year, Infineon has set new records for revenue and profitability. The results are an initial confirmation of our more ambitious course we embarked on as a company a year ago,” says Jochen Hanebeck, CEO of Infineon (pictured) “nevertheless, we find ourselves in an environment that continues to present challenges. We are seeing different trends in our target markets. Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated. In contrast, consumer, communication, computing and IoT applications are experiencing a temporary period of low demand. Overall, we are expecting revenue growth to continue in the 2024 fiscal year but at a slower rate. We are reacting decisively to the market situation. At the same time, we are continuing to implement our strategy consistently with regard to structural growth opportunities and we are reinforcing our leading position in power systems and IoT with long-term investments.”