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Infineon: 3Q revenue in excess of EUR 1bn

Results in Q3 FY2013 better than forecast with revenue of €1,022 million, Segment Result of €117 million and a Segment Result Margin of 11.4 percent.

Infineon has made a good recovery and managed to grow again. Our strategy is bearing fruit: we are now in a position to quickly and decisively take advantage of opportunities as markets pick up", stated Dr. Reinhard Ploss, CEO of Infineon Technologies AG. "Revenue and margins have developed favorably during the third quarter and we remain focused on enhancing profitability." Review of Group financials for the third quarter of the 2013 fiscal year The Infineon Group reported revenue of €1,022 million for the third quarter of the 2013 fiscal year, €104 million or 11 percent up on the €918 million recorded in the previous quarter, with all four operating segments contributing to growth. The sharp rise in revenue helped to drive up the Segment Result by 72 percent to €117 million. The corresponding figure for the previous quarter was €68 million. The Segment Result Margin improved quarter-on-quarter from 7.4 percent to 11.4 percent. The Industrial Power Control (IPC) segment returned to profitability with a Segment Result Margin of 7.5 percent. Income from continuing operations amounted to €82 million, compared with €36 million one quarter earlier. The third-quarter loss from discontinued operations was €5 million and followed a loss of €3 million reported in the second quarter. Net income improved quarter-on-quarter from €33 million to €77 million. Earnings per share increased to €0.07 as compared to €0.03 one quarter earlier (basic and diluted). Outlook for the fourth quarter of the 2013 fiscal year Infineon forecasts that fourth quarter revenue will increase to approximately €1.05 billion. In the Automotive (ATV) segment, sales should remain roughly flat with the preceding quarter. The other three operating segments are all expected to see quarter-on-quarter revenue growth. Rising turnover and improved capacity utilization will help to push up the Segment Result Margin in the fourth quarter to about 13 percent. Given the results for the first nine months and the outlook for the fourth quarter, revenue for the full year should be approximately 1.5 percent lower than in the previous fiscal year, with a Segment Result Margin just under 10 percent. Investments in the 2013 fiscal year will be at a level of just under €400 million. Depreciation and amortization should total about €470 million.

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March 28 2024 10:16 am V22.4.20-2
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