Revenue and profit fall at Infineon

Author: EIS Release Date: May 14, 2024

Infineon had calendar Q1 (FY Q2) revenue of  €3.632 billion down 2% sequentially and 15% y-o-y for a profit of  €707 million down 15% sequentially and 40% y-o-y.

Infineon expects 2024  revenue of around €15.1 billion plus or minus €400 million. 2024 capex is set at around €2.8 billion.

For calendar Q2, revenue of around €3.8 billion is expected with a profit in the high-teens percentage range.

“In the prevailing difficult market environment, IMG_3048-150x150.jpegInfineon delivered a solid second quarter”, says Jochen Hanebeck, CEO of Infineon, “many end markets have remained weak due to economic conditions, while customers and distributors have continued to reduce semiconductor inventory levels. Weak demand for consumer applications persists. There has also been a noticeable deceleration in growth in the automotive sector. We are therefore taking a cautious approach to the outlook for the rest of the fiscal year and are lowering our forecast. In the medium to long term, decarbonization and digitalization will continue to be strong structural drivers of our profitable growth. In order to realize the full potential of our Company, we will further strengthen our competitiveness. To this end, we are launching the company-wide “Step Up” program. We are aiming to achieve structural improvements in our Segment Result in the high triple-digit million euro range per year.”