Infineon: raises guidance for FY 2022
(CercleFinance.com) - The company has reported Q2 2022 sales of 3.
298 billion euros (ended 31 March 2022), up 4% sequentially and up 22% y-o-y.
Segment profit was 761 million euros, i.e. a profit margin of 23.1%, with free cash flow of 120 million euros.
The group expects sales of around 3.4 billion euros in Q3 - as such, its segment profit margin is expected to be around 21%.
For FY 2022, management is targeting sales of 13.5 billion euros (vs. 13.0 billion euros previously). The segment profit margin is expected to exceed 22% (vs. around 22% previously). Meanwhile, free cash flow is expected to be around 1.1 billion euros (vs. around 1.0 billion euros previously).
However, the seemingly brighter outlook seems to come to no avail - Infineon shares are currently down over 3% in Frankfurt.
Copyright (c) 2022 CercleFinance.com. All rights reserved.