Infineon Technologies 2Q Net Profit Rose; Raises Fiscal Year 2021 Outlook
04 Maio 2021 - 3:19AM
Dow Jones News
By Mauro Orru
Infineon Technologies AG said Tuesday that net profit and
revenue for the second quarter of fiscal 2021 increased as demand
for semiconductors continues to exceed supply.
The German chip maker said net profit for the three months ended
March 31 rose to 203 million euros ($244.9 million) from EUR178
million a year earlier.
Revenue for the quarter climbed to EUR2.70 billion from EUR1.99
billion.
The company's segment result--a closely watched metric
comparable to adjusted earnings before interest and taxes--rose to
EUR470 million from EUR274 million, with its segment result margin,
or adjusted EBIT margin, increasing to 17.4% from 13.8%.
Infineon in February had guided for second-quarter revenue of
between EUR2.5 billion and EUR2.8 billion, with adjusted EBIT
margin at around 16.5% at the mid-point.
"The semiconductor market is booming; electronics that help
accelerate the energy transition and make work and home life easier
remain in high demand," Chief Executive Reinhard Ploss said.
The company said it expects revenue for the third quarter of
fiscal 2021 at between EUR2.6 billion and EUR2.9 billion, with
adjusted EBIT margin at around 18% at the mid-point.
Infineon also raised its guidance for the fiscal year, expecting
revenue at around EUR11 billion, plus or minus 3%, and an adjusted
EBIT margin of about 18%.
It previously expected revenue of around EUR10.8 billion, plus
or minus 5%, and an adjusted EBIT margin at about 17.5% at the
mid-point.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
May 04, 2021 02:04 ET (06:04 GMT)
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