For FY 2024 it expects revenue of around €16 billion plus or minus €500 million, with a percentage margin in the mid-20s.

Investments were now reduced to approximately €2.9 billion. Free cash flow should be around €1.8 billion.

“In the prevailing difficult macroeconomic climate, Infineon is proving robust,” says CEO Jochen Hanebeck (pictured) “in consumer, communication, computing and IoT applications, we are not anticipating a noticeable recovery in demand until the second half of the calendar year. Our expectations for the automotive sector remain virtually unchanged from November, despite a slowdown in demand in electromobility outside China. As a company, we are consistently adapting to this situation, so that we meet our financial targets for the current fiscal year. At the same time, we remain committed to our major investments for the future, as we want to exploit the long-term growth opportunities arising from decarbonization and digitalization.”