Infineon revenues increased 15% in 2023
"In the 2023 fiscal year, Infineon has set new records for revenue and profitability. The results are an initial confirmation of our more ambitious course we embarked on as a company a year ago," says Jochen Hanebeck, CEO of Infineon.
Infineon's revenues during the fourth quarter of 2023 amounted to EUR 4.149 billion, a slight increase from EUR 4.143 billion during the fourth quarter of 2022. Profit for the period ended up at EUR 753 million, a slight increase from EUR 735 million during the same period last year.
For the full year of 2023, Infineon managed to record revenues of EUR 16.309 billion, up 15% from the prior year. Full-year profit amounted to EUR 3.137 billion in 2023, a clear increase from 2.179 billion in 2022.
As CEO Jochen Hanebeck says, the year set new records for revenue and profitability, however, the market has and continues to present challenges.
"Nevertheless, we find ourselves in an environment that continues to present challenges. We are seeing different trends in our target markets. Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated. In contrast, consumer, communication, computing and IoT applications are experiencing a temporary period of low demand. Overall, we are expecting revenue growth to continue in the 2024 fiscal year but at a slower rate," Hanebeck says.
Infineon is forecasting 2024 revenues of around EUR 17 billion, plus or minus EUR 500 million.