Infineon reported calendar Q2 revenues of €2,174 million in results which included Cypress figures for the first time.

For calendar Q3, it expects revenue of between €2.3 billion and €2.6 billion with a margin of 14%.

For the full year, Infineon expects revenues of €8.5 billion at a margin of 13%.

Infineon’s automotive division suffered a revenue decline of 25% in the quarter.

The calendar Q2 net loss was €313 million, compared to a net loss of €48 million in the previous quarter.

The operating loss was €93 million, compared to an operating income of €226 million in the preceding quarter.

The financial result for calendar Q2 deteriorated from negative €27 million to negative €79 million quarter-on-quarter.

The financial result includes an expense of €15 million arising on interest rate hedges entered into in conjunction with the refinancing of the Cypress acquisition.

“The pandemic continues to have a significant impact on our target markets, resulting in weaker demand in many product areas,” says CEO Reinhard Ploss (pictured),  “thankfully, we are seeing concrete signs of recovery within the automotive sector, which has been particularly hard hit.”