German chipmaker Infineon reports strong revenue growth in Q4

Source: Xinhua| 2020-11-09 22:36:32|Editor: huaxia

BERLIN, Nov. 9 (Xinhua) -- Revenues of the German chipmaker Infineon jumped 21 percent year-on-year to 2.49 billion euros (2.96 billion U.S. dollars) in the fourth quarter of the company's fiscal year which ended on Sept. 30, it announced on Monday.

For the first time, the figure included a full quarter's contribution from the U.S.-based Cypress Semiconductor Corporation, which Infineon acquired in April, Infineon said in a statement.

In the three months ended on Sept. 30, Infineon said its operating income increased to 182 million euros, compared with an operating loss of 93 million euros in the previous three-month period. However, operating income was still around 25 percent below last year's figures, it said.

For the full fiscal year, operating income reached 581 million euros, around half as much as last year. At 8.6 billion euros, Infineon achieved more sales for the full year, exceeding last year's figures by 6.7 percent.

Net income totaled 109 million euros in the fourth quarter, compared with a net loss of 128 million euros in the third quarter, Infineon said in the statement.

"Infineon has successfully completed an exceptional and difficult fiscal year with a very respectable fourth quarter. We have proven that our company has a robust business model and continues to develop steadily, even in uncertain times," said Reinhard Ploss, chief executive officer (CEO) of Infineon.

Revenues in China, by some measurement Infineon's largest single market, saw an increase of 15 percent in the full fiscal year to 2.7 billion euros. In Q4, China contributed to the chipmaker's overall upswing with revenues growing strongly by 25 percent year-on-year.

For the 2021 fiscal year, Infineon expects to generate revenues of around 10.5 billion euros. "We are cautiously optimistic for the fiscal year that has just begun," said Ploss. However, the coronavirus pandemic, the "geopolitical situation" as well as "prevailing macroeconomic conditions" would "all remain challenging." (1 euro = 1.19 U.S. dollars) Enditem

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