Infineon Announces Strong Fourth Quarter with Optimistic Future
Infineon Technologies has reported the results for the fourth quarter and the full 2020 fiscal year, both ended on 30 September 2020.
“Infineon has completed an exceptional and difficult fiscal year with a very respectable fourth quarter. We have proven that our company has a robust business model and continues to develop steadily, even in uncertain times,” said Dr. Reinhard Ploss, CEO of Infineon.
“Some of our target markets, especially the automotive sector, have recovered better than expected since the summer. Also, the structural transformation towards electro-mobility is accelerating, particularly in Europe. Other markets are showing weakness, like traction or government identification, or are still a long way from recovery, such as factory automation. All in all, we are cautiously optimistic for the fiscal year that has just begun. However, the corona virus pandemic, the geopolitical situation and prevailing macroeconomic conditions all remain challenging. The combination of a strengthened team and a broader technology and product portfolio – especially through connectivity for the IoT and other digital applications – enables us to address an even greater number of markets. We are in an excellent position to master future challenges.”
Group performance in the fourth quarter of the 2020 fiscal year Revenue for the three months increased from €2,174 million to €2,490 million quarter-on-quarter. For the first time, the figure includes a full quarter’s contribution from Cypress Semiconductor Corporation, which Infineon acquired in April. The Automotive (ATV) and Power & Sensor Systems (PSS) segments were the main contributors to the 15 percent quarter-on-quarter growth in Group revenue. Revenue in the Connected Secure Systems (CSS) segment also increased slightly.
Based on an assumed exchange rate of US$ 1.15 to the euro, Infineon expects to generate revenue between €2.4 and 2.7 billion in the first quarter of the 2021 fiscal year. ATV segment revenue is forecast to increase by a mid-double-digit million euro amount quarter-on-quarter.
