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Electronics Production | November 16, 2010

Infineon with EUR 942M sales in 4Q/2010

German chip manufacturer Infineon reported sales from Continuing Operations of Euro 942 million, a 6% increase from the previous quarter. The company now forecasts a revenue growth of around 10% for FY 2011.
“The last quarters’ excellent performance has continued in the fourth quarter across all the segments. The company’s growth during this upcycle remains significantly ahead of the market and our profitability has risen yet again, as evidenced by more than 18% Segment Result margin and free cash flow of EUR 236 million from continuing
Basic earnings per share attributable to shareholders of Infineon Technologies AG (in Euro): operations”, says Peter Bauer, CEO of Infineon Technologies AG.

Infineon’s revenues in the fourth quarter were EUR 942 million, up 6% compared to the third quarter and up 55% year-over-year. The sequential increase in revenues reflects growth in all of the company’s segments. Including the Wireless Solutions business, revenue totaled EUR 1,400 million.

Outlook for the first quarter and for the whole 2011 fiscal year

Infineon expects revenues for the first quarter of the 2011 fiscal year to be flat to down slightly compared to the fourth quarter of the 2010 fiscal year, depending on the foreign exchange rate environment and in particular on the development of the exchange rate of the US Dollar against the Euro. First quarter Total Segment Result margin should remain at about the same level as seen in the previous quarter.

Within the expected group turnover development, Automotive (ATV) revenue is expected to increase, Industrial & Multimarket (IMM) turnover should remain about flat and Chip Card & Security (CCS) segment sales should exhibit negative seasonality.

At an assumed Euro/U.S. Dollar exchange rate of 1.40, the company expects full-year revenues to grow at a rate of close to 10%. Within this sales outlook, the company anticipates growth in its ATV turnover of about 10% for the 2011 fiscal year, with IMM sales expected to grow at a rate clearly exceeding the group average and CCS revenue likely to grow very slowly.

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