By Mauro Orru 
 

Infineon Technologies AG said Monday that net profit for the fourth quarter of fiscal 2020 fell and that it would propose a lower dividend due to the impact of the coronavirus pandemic.

The German chip maker said net profit for the three months ended Sept. 30 fell to 109 million euros ($129.4 million) from EUR161 million a year earlier.

Revenue for the quarter climbed to EUR2.49 billion from EUR2.06 billion, sustained by the automotive and power and sensor systems segments, it said.

The company's segment result--a closely watched metric comparable to adjusted earnings before interest and taxes--rose to EUR379 million from EUR311 million, with its segment result margin, or adjusted EBIT margin, increasing to 15.2% from 15.1%, Infineon said.

Infineon in August guided for fourth-quarter revenue between EUR2.3 billion and EUR2.6 billion, with a segment result margin of about 14% at the midpoint of the revenue range.

Infineon said Monday it would propose a dividend of EUR0.22 a share for 2020 fiscal year, EUR0.05 less than in the previous year.

The company said it expects revenue for the first quarter of fiscal 2021 between EUR2.4 billion and EUR2.7 billion based on an assumed exchange rate of $1.15 to the euro, with adjusted EBIT margin at around 16%.

For fiscal 2021, Infineon is projecting revenue of about EUR10.5 billion--plus or minus 5%--based on an assumed exchange rate of $1.15 to the euro, with adjusted EBIT margin of about 16.5% at the midpoint of the guided revenue range.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

November 09, 2020 02:16 ET (07:16 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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