Infineon’s second quarter results were better than expected and it once again raised its outlook for fiscal 2023

[May 4, 2023, Neubiberg, Germany] Infineon Technologies AG released its financial report for the second quarter of fiscal year 2023 (as of March 31, 2023).

• Second quarter of fiscal year 2023: Revenue reached 4.119 billion euros, profit reached 1.180 billion euros, and profit margin was 28.6%

• Outlook for the third quarter of fiscal 2023: Assuming a euro-dollar exchange rate of 1:1.10, revenue is expected to reach approximately 4 billion euros, and on this basis, profit margins are expected to be around 26%

• Outlook for fiscal 2023: Even now assuming a euro-to-dollar exchange rate of 1:1.10 (previously 1:1.05), semiconductor technology company Infineon’s revenue in fiscal 2023 is still expected to increase from 15.5 billion euros (± 500 million euros) ) grew to €16.2 billion (±€300 million). If revenue is at the midpoint of the forecast range, adjusted gross margin is expected to be around 47% (previously expected gross margin was around 45%) and margins around 27% (previously expected margin to be around 25% ). Investments are still expected to reach approximately 3 billion euros. Taking into account the planned expansion of the front-end plant, free cash flow is expected to be approximately 1.1 billion euros (previously free cash flow was expected to be approximately 800 million euros), and adjusted free cash flow is approximately 1.8 billion euros (previously free cash flow was approximately 800 million euros). 1.5 billion euros)

Jochen Hanebeck, CEO of Infineon Technologies, said: "Infineon's performance is excellent. Our business growth is strong in e-mobility, renewable energy generation and energy infrastructure. These are exactly what we serve in decarbonization. Key applications. Although the improvement in the consumer goods market such as smartphones, personal computers and home appliances is not yet obvious, we are generally confident in Infineon's future performance. Therefore, we once again raised our revenue and profit forecasts for fiscal year 2023. Expected, as we announced at the end of March this year.”