Infineon delivers strong third quarter results, outlook for fiscal 2023 confirmed

[August 3, 2023, Neubiberg, Germany] Infineon Technologies AG released its financial report for the third quarter of fiscal year 2023 (as of June 30, 2023).

• Third quarter of fiscal year 2023: revenue reached 4.089 billion euros, profit reached 1.067 billion euros, and profit margin was 26.1%

• Outlook for the fourth quarter of fiscal 2023: Assuming a euro-dollar exchange rate of 1:1.10, revenue is expected to be approximately 4 billion euros, and on this basis, profit margins are expected to be around 25%

• Outlook for fiscal year 2023: Even assuming an exchange rate of 1:1.10 for the euro against the dollar, Infineon’s revenue in fiscal year 2023 is expected to be approximately 16.2 billion euros, and the adjusted gross profit margin is expected to be approximately 47%. Around 27%. Investments are 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 1.2 billion euros (previously approximately 1.1 billion euros) and adjusted free cash flow is approximately 1.7 billion euros (previously approximately 1.8 billion euros).

Jochen Hanebeck, CEO of Infineon Technologies, said: “Infineon delivered a strong performance in the third quarter, while semiconductor market trends remain mixed. On the one hand, demand for electric vehicles, renewable energy and related applications remains high. On the other hand, demand for electric vehicles, renewable energy and related applications remains high. On the other hand, demand for consumer goods applications such as PCs and smartphones remains low. Infineon's ability to perform well in a challenging market environment is due to our continued focus on the structural growth drivers of digital transformation and the transition to a green economy. . This is why we are taking a forward-looking, long-term approach and investing in additional capacity.”