By Mauro Orru 
 

Infineon Technologies AG on Wednesday posted higher profit and revenue in the fourth quarter of fiscal 2021 as it continued to benefit from high demand for semiconductors, and said it expects a strong fiscal 2022.

The German chip maker said net profit for the three months ended Sept. 30 climbed to 464 million euros ($538 million) from EUR109 million a year earlier.

Revenue for the quarter jumped to EUR3.01 billion from EUR2.49 billion.

Analysts had forecast a profit of roughly EUR330.1 million and revenue of about EUR2.94 billion, according to FactSet.

The company's segment result--a closely watched metric comparable to adjusted earnings before interest and taxes--rose to EUR616 million from EUR379 million, with its segment result margin, or adjusted EBIT margin, up to 20.5% from 15.2%.

Infineon had expected fourth-quarter revenue of around EUR2.9 billion, with an adjusted EBIT margin of around 19%.

For the first quarter of fiscal 2022, the company targets revenue of around EUR3 billion, and an adjusted EBIT margin of around 21%.

For the new fiscal year, Infineon expects revenue of EUR12.7 billion plus or minus EUR500 million, with an adjusted EBIT margin of about 21% at mid-point of its revenue forecast.

"In light of the continued high demand for semiconductors needed for the energy-efficient, connected world, we expect the 2022 fiscal year to be a strong one," Chief Executive Reinhard Ploss said.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

November 10, 2021 02:07 ET (07:07 GMT)

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