“We have come through a difficult quarter quite well,” said Dr Reinhard Ploss, the company’s CEO. “Revenue and earnings were both slightly better than expected. Infineon is performing very well in next generation technology areas with high growth rates – electromobility, advanced driver assistance systems and renewable energy. In spite of a weaker US dollar and a rather flat semiconductor market, we are going to show double digit growth in revenues in the current fiscal year.”
Based on its assumption of an exchange rate of $1.15 to the Euro, Infineon expects sales to grow by around 12%, compared to 2015.
Revenue from its automotive business increased by 9% to €670million in Q2 2016, a result of vehicle sales in Europe, North America and China growing at ‘above average’ rates.
Industrial power control revenue increased by 6% to €265m, driven by stronger demand from companies developing traction, major home appliances and renewable energy. Revenue from products for electric drives remained flat.
PMM segment revenue declined by 3% to €496m. In the previous quarter, sales were driven by strong demand for DC/DC conversion products, but this demand softened in Q2.
