Admin I Wednesday, Nov. 15, 2023
FRANKFURT – German chipmaker Infineon Technologies AG has increased profits in its fourth quarter compared to the same period of last year. Prospects for 2024 are also positive.
Infineon reported that its fourth quarter profit attributable to shareholders increased to €753 million ($818 million), or €0.57 per share, from €735 million, or €0.56 per share, in the same quarter last year.
Adjusted earnings per share were €0.65 up from €0.63 in the previous year.
Revenue for the fourth quarter was €4.15 billion compared to €4.14 billion in the prior year.
Infineon expects revenue to be around €3.8 billion for the first quarter of the 2024 fiscal year.
For the 2024 fiscal year, the company projects revenue to be around €17 billion plus or minus €500 million, representing a growth rate of around 4% compared with the 2023 fiscal year.
The company noted that the dividend distributed for the 2022 fiscal year of €0.32 per share was €0.05 higher than the figure for the previous year.
It is planned to put forward a proposal to the annual general meeting in February 2024 to increase the dividend again by €0.03 per share. Should the Annual General Meeting approve the planned proposal, the dividend payment for the 2023 fiscal year would rise to €0.35.
