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Revenue approximately unchanged for Infineon

Infineon reports third-quarter revenue of Euro 990 million - approximately unchanged compared to the previous quarter; Segment Result reached to Euro 126 million (12.7 percent margin)

“Growth and Margin are currently below plan, reflecting global uncertainties. The underlying trends for energy efficiency, mobility and security business nevertheless remain positive. We will therefore continue our policy of strategic investment, firmly convinced that this is the only way for Infineon to extend its market leadership in the future. That said, we will make savings now wherever savings are to be made. With this, the cost situation remains manageable even in the face of current market conditions“, stated Peter Bauer, CEO of Infineon Technologies AG. Infineon reported revenue of Euro 990 million for the third quarter of the 2012 fiscal year, approximately unchanged from the previous quarter’s Euro 986 million. Slight increases recorded by the Automotive (ATV), Industrial Power Control (IPC) and Power Management & Multimarket (PMM) segments, as well as a sharp rise in revenue for the Chip Card & Security (CCS) segment, more than offset the expected decrease in revenue from Other Operating Segments (OOS). The Euro/US Dollar exchange rate had a positive impact of Euro 12 million on revenue. Segment Result fell from Euro 144 million in the second quarter to Euro 126 million in the third quarter while the Segment Result Margin dropped from 14.6 percent to 12.7 percent. The principal reasons for the decrease were a higher expense for amortization and depreciation and increased research and development expenditures. As in previous quarters, the exchange rate risk was hedged according to Company policy. As a consequence, there was no positive exchange rate impact at the level of Segment Result. Outlook for fourth quarter of fiscal year 2012 confirmed Infineon forecasts that fourth-quarter revenue will be flat or down slightly compared with third quarter revenue and that the Segment Result Margin will be approximately 12 percent. Due to seasonal factors, PMM revenue is expected to rise whereas ATV revenue is expected to fall. CCS revenue is likely to be slightly lower than in the third quarter, while IPC revenue should remain at a similar level. The decrease in revenue is also being driven by a lower level of product and service sales related to the previously sold Wireline Communications and Wireless mobile phone businesses. Outlook for fiscal year 2012 Based on the latest outlook for the fourth quarter, full-year revenue will be approximately 3 percent down from the previous year, reflecting lower revenue in the IPC and PMM segments and decreasing product and service sales in connection with the previously sold Wireline Communications and Wireless mobile phone businesses. The Segment Result Margin is forecast at between 13 and 14 percent of revenue. Investments will be at a similar level to the fiscal year 2011 and the depreciation and amortization expense will be in the region of Euro 430 million.

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March 28 2024 10:16 am V22.4.20-1
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