The new year has started with a “very positive” business situation, Infineon’s CEO said.
For the first quarter of fiscal year 2022, ending December 31, 2021, Infineon reported slightly better-than-expected revenue of €3.159 billion, up 5% on a sequential basis and 20% on an annual basis. The profit for the period amounted to €457 million, down from €464 million in the previous three-month period.
“Infineon has had a successful start to fiscal 2022,” said Reinhard Ploss, CEO of Infineon, during a press conference call on Feb. 3, 2022. “We were able to increase our revenue and segment sales compared to the record of the previous quarter considerably.”
Revenue continued to grow in the Automotive ( 10% sequentially, 21% year-on-year), Power & Sensor Systems ( 1% sequentially, 23% year-on-year) and Connected Secure Systems segments ( 11% sequentially, 27% year-on-year), while the Industrial Power Control (-6% sequentially, 6 year-on-year) segment recorded a slight decline. Following a strong second half of 2021 fiscal year, the revenue of the Industrial Power Control segment indeed moderated to €382 million, reflecting typical seasonal patterns in most application areas, the group said.
“Electrification and digitalization are ensuring that we have continued strong growth in our target markets,” Ploss commented. “In many markets, the availability of semiconductors remains a critical factor. Additional manufacturing capacities are being created. But the demand for semiconductors remains higher than the supply. Inventories are increasing in some areas, but they remain below the long term average.”
Looking ahead, Infineon said it anticipates revenues of around €3.2 billion in the second quarter of its 2022 fiscal year.
For full fiscal year 2022, the Munich, Germany-based chip manufacturer now expects to report revenues of €13 billion, plus or minus €500 million. This compares to an initial revenue forecast of €12.7 billion. The revenue of the Automotive and Connected Secure Systems segments is predicted to increase at a higher percentage rate than group revenue overall. The revenue growth rate in the Power & Sensor Systems segment is forecast to be at a similar level to that of the Group. Finally, the Industrial Power Control segment revenue is forecast to grow by a high single-digit percentage.
