Infineon increase revenue forecast for 2022

Infineon increase revenue forecast for 2022

Business news |
By Nick Flaherty

Infineon Technologies has increased its forecast for 2022 revenues, but is predicting challenges from the war in Ukraine and continuing Covid-19 shutdowns.

Second quarter 2022 revenues were €3.298 billion, up 4 percent on preceding quarter and 22 percent year on year. The company is predicting revenue of between €13 billion and €14 billion, up 22% from €11.06bn in 2021. This was up 29% on 2020.

The company is still planning to invest €2.4bn in capacity, including expanding its silicon carbide capacity and its packaging capacity in Indonesia. The automotive business, particularly hit by supply chain issues, makes up 45% of the company and saw 24% growth on the previous quarter.

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“Infineon continues to perform well within an increasingly challenging environment. Revenue and Segment Result both went up again in the second quarter. Global uncertainties, in particular the war in Ukraine and the further course of the coronavirus pandemic, are placing stress on supply chains. At the same time, demand for our products and solutions continues to exceed supply significantly,” said Jochen Hanebeck, CEO of Infineon. Hanebeck replaced long term CEO Reinhard Ploss in March.

“Decarbonization and digitalization will profoundly change the world we live in over the next decade. We are actively driving this change, while at the same time seizing these opportunities to generate profitable growth. We are closely monitoring short- and medium-term market and supply conditions in order to be able to respond in case of need,” he said.

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