Infineon's revenue and profit increased slightly in the third quarter of fiscal year 2024-EEWORLD

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It is expected that the performance will further improve in the fourth quarter of fiscal year 2024, and the revenue forecast for the whole fiscal year 2024 is in line with the performance guidance range given previously.

Third quarter of fiscal year 2024: revenue was 3.702 billion euros, profit was 734 million euros, and profit margin was 19.8%.
Outlook for the fourth quarter of fiscal year 2024: Assuming an exchange rate of EUR/USD of 1:1.10, revenue is expected to be approximately EUR 4 billion. On this basis, the profit margin is expected to be around 20%.
Outlook for fiscal year 2024: Based on the performance of the first three quarters and the outlook for the fourth quarter, revenue for the entire fiscal year 2024 is expected to reach about 15 billion euros, with a profit margin of about 20%. The adjusted gross profit margin is expected to be between 40% and 45%. The investment amount is expected to reach about 2.8 billion euros. Taking into account factors such as investment in large front-end plants and the acquisition of GaN Systems, the adjusted free cash flow is about 1.5 billion euros, and the reported free cash flow is about negative 200 million euros.

[August 5, 2024, Neubiberg, Germany] Infineon Technologies AG today announced its third quarter financial results for fiscal year 2024 (ending June 30, 2024).

Jochen Hanebeck, CEO of Infineon Technologies

Jochen Hanebeck, CEO of Infineon Technologies, said: "Infineon Technologies continues to achieve good results in a market environment that remains challenging. The recovery in our target markets is progressing slowly. The prolonged economic weakness has led to semiconductor inventory levels in many areas that exceed end-user demand. In addition to managing the current demand cycle, we are committed to further strengthening the company's competitiveness by carrying out the structural optimization and improvement program 'Step Up'."

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