Infineon expects stronger Q2 and annual results
Company updates expectations based on automotive and industrial segments
Infineon is updating its expectations for revenues and Segment Result Margin for the running, second quarter as well as for the full 2023 fiscal year. This is primarily based on resilient business dynamics in its core automotive and industrial segments.
In the second quarter of the 2023 fiscal year, Infineon now expects revenue to come in above €4 billion, compared to its original anticipation of around €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 now expected to reach a high-twenties percentage (compared to the originally projected level of around 25 percent).
Based on an assumed exchange rate of $1.05 to the euro for the second half of the fiscal year, and taking the expected results for the first half into account, Infineon now forecasts revenue for the full 2023 fiscal year to amount to meaningfully above the previously expected level of around €15.5 billion (plus or minus €500 million), with a corresponding positive impact on the Segment Result Margin for the full fiscal year.