Infineon confident of further growth
After a year-end spurt, chip manufacturer Infineon is confident of further growth for the new 2023/2024 financial year. Revenue for the twelve months to the end of September is expected to rise to between 16.5 billion and 17.5 billion euros, as the DAX-listed company announced on Wednesday. "Overall, we also expect further, albeit lower, sales growth for the 2024 financial year," said CEO Jochen Hanebeck according to the statement. At the same time, the manager is again planning investments worth billions, including in the new site in Kulim, Malaysia.
Between July and September, Infineon's turnover of around 4.15 billion euros was slightly higher than in the previous three months. The Group benefited from brisk demand for electromobility and renewable energies. Profit was almost stagnant at 1.04 billion euros.
Infineon's expected quarterly figures for the new financial year show continued growth in the electronics sector, with the company anticipating sales to remain robust. According to the CEO, Jochen Hanebeck, further investments in areas like their new site in Kulim, Malaysia, will contribute to this continued growth in the electronics sector.
Source: www.dpa.com
