Infineon Expands From Automotive to Renewable Energy
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Loading... - Lydia Macko
- 09 Feb 2023
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Infineon is focused on addressing long-term, high-growth trends of decarbonization and digitalization.
Despite the weaker macroeconomic conditions, Infineon Technologies continues to witness strong demand for its variety of product portfolios, now expanding to include renewable energy. The semiconductor company has reported a robust value proposition in energy transition and expansion of electromobility for industrial and automotive applications. However, Infineon is facing weaker demand in areas like smartphones, PCs and data centers.
In the first quarter of fiscal year 2023, the operating profit increased to €966 million, up from €920 million in the previous quarter. However, the company reported a decrease in free cash flow for the first quarter of the current fiscal year, with €25 million, compared with €709 million in the preceding quarter. Infineon attributes this decrease to annual payouts of variable remuneration components, as well as an increase in inventory and a decrease in accounts payable. Read More…
