Infineon Technologies Expects Strong Revenue Rise in Fiscal Year 2022
October 05 2021 - 2:37AM
Dow Jones News
By Kim Richters
Infineon Technologies AG on Tuesday provided an outlook for its
current fiscal year, forecasting revenue to rise strongly and
targeting a segment result margin of around 20%.
The German chip maker said it forecasts revenue for the year
from Oct. 1 to Sept. 30, 2022, to grow by a mid-teens percentage
and the margin for the segment result to be around 20%. Both
targets are based on an exchange rate of $1.20 to the euro.
"Electrification and digitization are secular themes, and
semiconductors are indispensable for both of them," said Infineon's
Chief Executive Reinhard Ploss in a statement ahead of the
company's capital markets day.
"Infineon is successfully managing the cycle and has leading
positions in multiple markets with long-duration structural growth
drivers. 2022 is shaping up to be a strong year; we are continuing
our profitable growth journey and sustainable value creation," he
said.
The company plans to increase investments to around EUR2.4
billion and targets free cashflow of around EUR1 billion for the
fiscal year.
Infineon also backed revenue expectations of around EUR11
billion and a segment result margin of more than 18% for fiscal
year 2021, which ended Sept. 30.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 05, 2021 02:22 ET (06:22 GMT)
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