INFINEON PROVIDES UPDATE ON ITS OUTLOOK AND ADDS TO PROVISIONS IN CONNECTION WITH QIMONDA INSOLVENCY PROCEEDINGS
11-10-14
Infineon Technologies AG / Key word(s): Profit Warning 14.10.2011 13:31 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Neubiberg, October 14, 2011 Infineon Technologies AG today announces preliminary results for the fourth quarter of the 2011 fiscal year, the outlook for the first quarter of the 2012 fiscal year and additional provisions relating to the insolvency of its subsidiary Qimonda AG. According to preliminary results for the quarter ended 30 September 2011, sales of Euro 1.038 billion came in essentially flat with the previous quarter. Total Segment Result stood at Euro 195 million, down from Euro 212 million in the third quarter of the 2011 fiscal year. The Company's guidance given on 28 July 2011 called for at least flat turnover and for broadly unchanged Total Segment Result relative to the third quarter of the 2011 fiscal year. Economic uncertainty in light of the European debt crisis and resulting financial market turmoil drove increasing caution on the part of Infineon's customers over the course of the quarter. As a result, Infineon was not able to record revenue growth for the quarter. In addition, service agreements expired, under which Infineon provided services for its former Wireless mobile phone business. Both factors combined caused the sequential decline in Segment Result. For the first quarter of the 2012 fiscal year, whilst demand in the automotive markets should remain benign, Infineon expects customer caution to characterize business in the Industrial & Multimarket and now also Chip Card & Security end markets. In total, Infineon anticipates a mid to high single digit percentage sequential revenue decline at a mid teens percentage for Total Segment Result margin. Finally, Infineon Technologies AG today announces that it has taken additional provisions within its result from discontinued operations totaling Euro 150 million in connection with the insolvency proceedings of its subsidiary Qimonda AG. These provisions were taken after the insolvency administrator had detailed several claims during the last quarter. Infineon will provide additional detail on all above matters as well as the outlook for the full 2012 fiscal year when it reports its final results for the fourth quarter and the 2011 fiscal year on 16 November 2011. 14.10.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Infineon Technologies AG Am Campeon 1-12 85579 Neubiberg Germany Phone: +49 (0)89 234-26655 Fax: +49 (0)89 234-955 2987 E-mail: investor.relations@infineon.com Internet: www.infineon.com ISIN: DE0006231004 WKN: 623100 Indices: DAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart; Terminbörse EUREX End of Announcement DGAP News-Service --------------------------------------------------------------------------- |
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