semiconductor
Trump spoils Infineon the forecast
At the beginning of the year, Infineon had set up expectations for the then strong US currency – now the semiconductor group has to row back, because the United States threatens further inconvenience.
The political faults in the United States cost Infineon the annual forecast. In view of the expected tariffs and the strong weakening of the dollar in the past few months, the semiconductor group from Neubiberg near Munich has reduced its expectations for the current year. CEO Jochen Hanebeck now assumes slightly declining sales and fewer margins and wants to invest less. He had only increased the expectations for sales in February – because the dollar was rated significantly higher at the time than up to date.
The recent change of course in the US currency alone could have even put away from the company without having to sort back during the forecast. “Infineon did well in the second quarter. We would be full on course and would be for the financial year as part of the previous expectations, even with an unfavorable dollar course of $ 1.125,” says Hanebeck. But the expected consequences of the tariffs are probably too much: “Since our order input still shows no weakening, we can only estimate the effects of the customs interlocks,” says the Infineon boss. The company does this with a discount from 10 on the expected sales in the fourth business quarter.
Significantly less profit than a year ago
The Neubibergers beyond the United States does not rose a vain sunshine. In the second quarter of the financial year – from January to March – profit was 232 million euros. That is 41 percent less than in the same period last year and also a slight decline compared to previous quarter. After all, sales were robust with 3.6 billion euros and only sank minimally in the same period last year. For the previous quarter it was even slightly up.
The shops continue to run relatively well in the largest segment of Automotive, which is responsible for around half of the sales and also delivers the highest margins. But even there the numbers are a little worse than a year ago. And especially in the automotive business, it could be exciting in the coming months in view of the tariffs of US President Donald Trump.
dpa
Source: Stern
