Infineon expects stronger results for 2Q and full year
Infineon Technologies is updating its expectations for revenues and segment result margin for the running, second quarter as well as the full 2023 fiscal year.
The company says that this is primarily based on resilient business dynamics in its core automotive and industrial segments.
For the second quarter, Infineon now expects revenue to come in above EUR 4 billion, compared to its original anticipation of around EUR 3.9 billion. With the increase in revenues, positive price and mix effects and energy costs developing better than anticipated, the segment result margin is also expected to reach a high-twenties percentage, compared to the originally projected level of around 25%.
Higher expectations for the 2023 fiscal year
Infineon also forecasts revenue for the full 2023 fiscal year to be meaningfully above the previously expected level of around EUR 15.5 billion (plus or minus EUR 500 million), with a corresponding positive impact on the segment result margin for the full fiscal year. The company is basing this on an assumed exchange rate of USD 1.05 to the euro for the second half of the fiscal year.