Infineon Technologies, a Leading German Semiconductor Manufacturer, Has Once Again Lowered Its Revenue Forecast for the Fiscal Year 2024, Now Expecting a Decrease Compared to the Previous Year. The Company Now Anticipates Revenues of About 15.1 Billion Euros, Plus or Minus 400 Million Euros, Compared to 16.31 Billion Euros in Fiscal Year 2023. The Expected Profit Margin Before Segment Results is Projected at Around 20%, a Significant Decline from 27% the Previous Year.

This correction takes place against the backdrop of slowed growth dynamics in the automotive sector, which is considered one of the main markets for Infineon. Originally, the company had targeted a revenue of about 16 billion euros and a segment result margin in the low to mid 20 percent range.

For the second quarter of the fiscal year, which ended in March, Infineon reported a decline in revenue to 3.63 billion euros from 4.12 billion euros in the same period last year. Net income dropped to 394 million euros from 826 million euros, while the segment result fell from 1.18 billion euros to 707 million euros, corresponding to a margin of 19.5%.

The current figures are close to analyst estimates, which anticipated a revenue of just under 3.60 billion euros and a net profit of 397.34 million euros. The segment result was achieved slightly better than the expected 647.67 million euros.

"These results reflect the challenges that Infineon faces in a changing market environment and highlight the necessity for the company to continuously adapt its strategies in order to maintain its market position and secure long-term growth."