Chip industry: Infineon earns almost a quarter less

The semiconductor group Infineon has earned significantly less in the third quarter of its financial year, but increases the forecast. From April to June, the company from Neubiberg near Munich earned 305 million euros. That was 24 percent less than a year ago. Among other things, the weak US dollar pressed the business because the group’s sales are particularly important in this currency. However, they remained stable at 3.7 billion compared to the previous year.

After all, compared to the second business quarter, Infineon was able to increase its profit by 73 million euros. At the end, the group had recently corrected its forecast. Now he lifts her again. Although the prospects for the dollar are worse than assumed three months ago, the margins should be somewhat higher than forecast.

Infineon boss Jochen Hanebeck rated the numbers as “solid results in a very volatile environment”. The dismantling of inventory in the target markets is progressing and has progressed well. “However, our customers and we continue to navigate in an overall economy and geopolitically insecure environment.”