Automotive business drives Infineon’s guidance higher
Infineon’s figures reflect opposing influences on the semiconductor market worldwide: on the one hand, prices for energy and raw materials rose, on the other hand, the company was able to push through higher prices against the backdrop of the global semiconductor shortage, especially in the automotive industry. “In a difficult large-scale weather situation, Infineon continues to perform well thanks to its differentiating portfolio,” says Jochen Hanebeck, CEO of Infineon. “Rising energy costs, commodity prices and interest rates, the ongoing pandemic and geopolitical uncertainties are weighing on economic growth.”
The continuing rise in demand for semiconductors for cars played into Infineon’s cards. This applies to sensors and processor technology and, above all, to the strong trend towards decarbonisation of the transport sector and thus the switch to battery-electric drive concepts. For the latter, more and more power semiconductors are needed. Other drivers of demand for semiconductors are the expansion of renewable energies as well as the continuing high level of investment in communications infrastructure, data centres and cloud computing, the Infineon CEO explained.
In the third quarter, Infineon’s revenues increased by 33% to €3.618 billion compared to the same quarter last year, while the segment result rose by as much as 70% to €842 million. The strongest growth in revenues and earnings was achieved in Infineon’s Automotive segment: revenues increased by 41% to €1.701 billion; the segment result rose from €199 million to €399 million.
Against the background of the positive development and the continuing boom in demand, the chip manufacturer slightly raised its expectations for the full 2022 financial year – instead of €13.5 billion so far, Hanebeck now expects revenues of €14 billion.
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