Infineon Technologies AG (ETR: IFX) booked progress in its revenues during the final quarter of the full year. Meanwhile, its other fundamentals looked appealing in a year-on-year comparison, while its income dipped in comparison with the previous quarter.
The Company saw revenue growth of 2% during the quarter, up to EUR 2.06 billion. This capped off a year of good progress, with the Group’s full-year revenues up 6% on-year, to EUR 8.03 billion.
Similar financial progress in the tech sector was enjoyed by Echoh PLC (LON: ECK), who boasted strong first half results, dotDigital Group plc (LON: DOTD), who saw their profits surge and Microsaic Systems PLC (LON: MSYS), who saw their revenues bounce.
However, Infineon Technologies did also book a notable retraction in net income between the third and fourth quarters, narrowing by 28% from EUR 224 million to EUR 161 million. Further, both its generic and adjusted gross margins dropped by approximately a percent apiece, while adjusted EPS saw a sharp dip of 17% between Q3 and Q4, down to EUR 0.19.
Infineon Technologies comments
Dr. Reinhard Ploss, CEO of Infineon, said,
“We have achieved our targets for the fourth quarter, bringing a challenging fiscal year to an end on a good note. Demand was particularly strong for our power semiconductors for renewable energy applications and our sensors for consumer devices,”
“We are feeling the effects of weak global auto demand and do not expect any improvement for the time being. The general economic environment remains fraught with macroeconomic and political uncertainty. We do not expect markets to recover before the second half of the fiscal year.”
Investor notes
The Company’s share price has bounced 6.17% or 1.14p to 19.65p 12/11/19 14:39 CET. Their dividend yield stands at 1.46%, their market cap is €23.15 billion.
