Infineon with robust Q1 FY 2024. Market environment

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Infineon with robust Q1 FY 2024. Market environment outside automotive remains weak. Weaker currency and markets are leading to an adjustment of FY 2024 outlook

商业财经新闻

06/02/2024

For the full version of this news release (incl. financial data), please download the PDF version.

Q1 FY 2024: Revenue €3.702 billion, Segment Result €831 million, Segment Result Margin 22.4 percent.
Outlook for FY 2024: Based on an assumed exchange rate of US$1.10 to the euro, (previously US$1.05), Infineon now expects to generate revenue of around €16 billion plus or minus €500 million, with a Segment Result Margin in the low to mid-twenties percentage range at the mid-point of the guided revenue range. Adjusted gross margin should be in the low to mid-forties percentage range. Investments were now reduced to approximately €2.9 billion. Free Cash Flow adjusted for major investments in frontend buildings and the acquisition of GaN Systems should be around €1.8 billion and reported Free Cash Flow around €200 million. RoCE at about 11 percent expected.
Outlook for Q2 FY 2024: Based on an assumed exchange rate of US$1.10 to the euro, revenue of around €3.6 billion expected. On this basis, the Segment Result Margin is forecast to be at about 18 percent.

Neubiberg, 6 February 2024 – Today, Infineon Technologies AG is reporting results for the first quarter of the 2024 fiscal year (period ended 31 December 2023).

"In the prevailing difficult macroeconomic climate, Infineon is proving robust," says Jochen Hanebeck, CEO of Infineon. "In consumer, communication, computing and IoT applications, we are not anticipating a noticeable recovery in demand until the second half of the calendar year. Our expectations for the automotive sector remain virtually unchanged from November, despite a slowdown in demand in electromobility outside China. As a company, we are consistently adapting to this situation, so that we meet our financial targets for the current fiscal year. At the same time, we remain committed to our major investments for the future, as we want to exploit the long-term growth opportunities arising from decarbonization and digitalization."

D I S C L A I M E R

The Quarterly Group Statement is prepared in accordance with the Frankfurt Stock Exchange’s stock exchange regulation 53 paragraph.

The Quarterly Group Statement contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group.

These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business development may therefore differ materially from what has been expected.

Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements.

Due to rounding, numbers presented throughout this Quarterly Group Statement and other reports may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

All figures mentioned in this Quarterly Group Statement are unaudited.

For the full version of this news release (incl. financial data), please download the PDF version.

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 58,600 employees worldwide (end of September 2023) and generated revenue of about €16.3 billion in the 2023 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).