Neubiberg – Infineon Technologies AG is reporting results for the second quarter of the 2024 fiscal year (period ended 31 March 2024).
„In the prevailing difficult market environment, Infineon delivered a solid second quarter”, says Jochen Hanebeck, CEO of Infineon. “Many end markets have remained weak due to economic conditions, while customers and distributors have continued to reduce semiconductor inventory levels. Weak demand for consumer applications persists. There has also been a noticeable deceleration in growth in the automotive sector. We are therefore taking a cautious approach to the outlook for the rest of the fiscal year and are lowering our forecast. In the medium to long term, decarbonization and digitalization will continue to be strong structural drivers of our profitable growth. In order to realize the full potential of our Company, we will further strengthen our competitiveness. To this end, we are launching the company-wide “Step Up” program. We are aiming to achieve structural improvements in our Segment Result in the high triple-digit million euro range per year.”
Group performance in the second quarter of the 2024 fiscal year
In the second quarter of the 2024 fiscal year, Infineon generated Group revenue of €3,632 million. This was 2 percent down on revenue in the prior quarter of €3,702 million. In the Automotive (ATV) segment, revenue remained stable compared with the prior quarter, while in the Green Industrial Power (GIP) and Power & Sensor Systems (PSS) segments revenue was lower. The Connected Secure Systems (CSS) segment saw a slight increase in revenue from the first quarter of the 2024 fiscal year.
