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)

Copyright (c) 2021 Dow Jones & Company, Inc.
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