BET
10898.37
-2.56%
BET-TR
21189.81
-2.56%
BET-FI
47470.12
-2.55%
BETPlus
1629.21
-2.53%
BET-NG
824.04
-2.51%
BET-XT
961.95
-2.53%
BET-XT-TR
1858.37
-2.53%
BET-BK
2046.89
-2.62%
ROTX
24642.07
-2.81%


Chipmaker Infineon reported a 10% revenue growth despite the increase in price of raw materials

Autor: Financial Market
Timp de citit: 2 minute

Infineon Technologies reported third quarter financial results with revenue up by €320 million or 10 percent to €3,618 million, compared with €3,298 million in the previous three month period.

There was a significant increase in revenue in the Automotive (ATV) and Power & Sensor Systems (PSS) segments, as well as a slight increase in the Industrial Power Control (IPC) and Connected Secure Systems (CSS) segments.

There was also a slight increase in the gross margin from 42.9 percent to 43.2 percent. The Segment Result was €842 million, compared with €761 million in the second quarter of the 2022 fiscal year.

The third-quarter non-segment result was a net loss of €152 million, compared with a net loss of €143 million in the second quarter, due to related to increased cost of goods sold, €62 million relating to selling, general and administrative expenses and €7 million relating to
research and development expenses.

Operating profit was €690 million, up from €618 million in the previous three-month period.

CITESTE SI:  The West’s price cap on Russian oil, likely to cause short- and long-term damages for China and India

Profit from continuing operations improved to €525 million, up from €469 million in the previous quarter.

The profit for the period was €517 million, up from €469 million in the previous quarter and basic earnings per share from continuing operations rose to €0.40, compared with €0.36 in the previous quarter.

Free Cash Flow improved to €440 million, up from €120 million in the previous three-month period while the net cash provided by operating activities from continuing operations rose to €996 million, compared with €615 million in the second quarter of the 2022 fiscal year.

Outlook for the fourth quarter

Based on an assumed exchange rate of US$1.05 to the euro, Infineon expects to generate revenue of around €3.9 billion in the fourth quarter of the 2022 fiscal year, a 8 percent growth compared with the third quarter.

The revenue forecast for 2022 stands at around €14 billion compared with the previous forecast of €13.5 billion.