Infineon Technologies AG is today reporting results for the second quarter of the 2020 fiscal year (period ended 31 March 2020).
“The world is in the midst of a crisis of hitherto unseen proportions. The effects of the coronavirus pandemic are unprecedented, and the semiconductor industry is significantly feeling the impact. Also Infineon is not immune to such a massive slump in the global economy,” said Dr. Reinhard Ploss, CEO of Infineon. “Our company is accustomed to coping with crisis situations. Despite all the difficulties, whether supply chain-related or in manufacturing, we have largely been able to maintain our operations in recent weeks. We also put cost-containment measures in place at an early stage. Nevertheless, the outlook for the second half of the fiscal year has significantly deteriorated. We expect a sharp drop in revenue in the Automotive segment. We are monitoring the situation in our target markets very closely and are prepared to respond swiftly to a variety of possible scenarios,” Ploss continued. “Even in difficult times, Infineon continues to evolve. With the successful acquisition of Cypress, we are taking a major step forward in implementing our strategy of linking the real with the digital world.”
