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© infineon Business | February 02, 2017

Revenue EUR 1,645 million for Infineon's 1Q/2017

Structural growth drives excellent start to the new fiscal year for German chipmaker Infineon Technologies.
"We had a good start into the new fiscal year,” stated Dr. Reinhard Ploss, CEO of Infineon. “In the first quarter revenue and earnings were better than expected, driven in particular by strong demand for our components for automotive electronics and MOSFET power transistors. We expect to achieve further growth in our markets during the coming months and, based on the long-term trends, also remain optimistic about the future. We confirm our forecast for the current fiscal year: higher revenue, earnings and margin."

Compared with the preceeding three-month period, Infineon Group revenue fell by 2 percent from EUR 1,675 million to EUR 1,645 million in the first quarter of the 2017 fiscal year. Whereas revenue in the Power Management & Multimarket (PMM) and Industrial Power Control (IPC) segments decreased due to seasonal factors, revenue generated by the Automotive (ATV) segment continued to rise. Revenue reported by the Chip Card & Security (CCS) segment was unchanged compared with the previous quarter.

The first-quarter gross margin finished at 36.0 percent, compared with 36.3 percent three months earlier.

Outlook for the second quarter of the 2017 fiscal year

In the second quarter of the 2017 fiscal year, Infineon expects a quarter-on-quarter revenue increase of 5 percent, plus or minus 2 percentage points. This forecast is based on an assumed exchange rate of USD 1.10 to the euro. At the mid-point of revenue
guidance, the Segment Result Margin is expected to come in at 15 percent.

Outlook for the 2017 fiscal year reaffirmed

Based on an assumed exchange rate of US$1.10 to the euro, Infineon continues to forecast revenue growth for the 2017 fiscal year of around 6 percent, plus or minus 2 percentage points, and a Segment Result Margin of 16 percent at the mid-point of revenue guidance. The ATV segment is expected to grow at a substantially faster rate than the Group average. Growth in the IPC segment is forecast to be roughly in line with or slightly higher than the Group average. The PMM and CCS segments are both expected to report growth rates below the Group average.

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