"Revenue, earnings and margin rose significantly in the third quarter, despite an increasingly difficult business environment. For the full fiscal year, we therefore continue to forecast revenue and a Segment Result Margin within the ranges previously predicted", stated Dr Reinhard Ploss, ceo of Infineon Technologies. "The integration of International Rectifier is progressing according to plan."
The company's four main operating units brought in revenues of: Automotive €621m, Industrial Power Management €269m, Power Management and Multimarket €517m and ChipCard and Security €172m.
Overall group operating income improved from €79m in calendar Q1 to €119m in calendar Q2 while net income for calendar Q2 came in at €109m, ahead of the previous quarter's €65m.
Infineon says it is back within the target range for its capital management objectives of gross cash between 30 and 40% of revenue, a positive net cash position and a moderate level of debt. This comes on the back of the company standing at a positive net cash position, with €49m at 30 June 2015 from a negative amount of €176m on 31 March 2015, with a gross cash position rising from €1,656m to €1,842m over the same period.
Investments during the 2015 fiscal year are expected to be in the region of €800m, including investments in plant and equipment at existing factories and in intangible assets including capitalised development costs.
Depreciation and amortization are predicted to increase to around €750m, mostly as a result of acquisition-related charges.
