In view of the weak chip demand in all segments, Infineon has significantly lost sales and margin in the opening quarter, but slightly exceeded the goals that have been set, and also the market expectations.
The upgrading of the US dollar prompted the semiconductor group to raise its sales expectations for the year 2024/25 (at the end of September). Instead of slightly declining, the income is now expected stable to slightly increasing, as the company from near Munich announced. An average Euro dollar exchange rate of 1.05 instead of 1.10 is assumed.
According to Infineon CEO Jochen Hanebeck, nothing has changed in the basic expectations. “After the expected inventory correction, we will continue to have a gradual recovery for the current financial year,” he said. The continued trend towards using artificial intelligence “positively”. This drives the need for power supply solutions for AI data centers, in which Infineon sees itself as a leader.
In the first business quarter, which comprises the months of October to December, Infineon has a 3,424 billion euros in income and a segment result of 16.7 (previous quarter: 21.2) percent. Vara Research’s analyst consensus saw the income of 3.225 billion euros and the margin at 14.8 percent.
In the second quarter (at the end of March), the semiconductor group expects around 3.6 billion euros in sales and a segment result margin in the middle tens percentage area. In the whole year, the goal of a segment result margin on average up to high zehner percentage area.
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