BERLIN (Reuters) -German chip manufacturer Infineon reported higher-than-expected revenue for its 2023 fiscal year on Wednesday as demand for semiconductors, particularly in the electromobility and renewable energy sectors, remains unabated.
Revenue was 16.31 billion euros ($17.72 billion), up 15% from the year before, slightly beating company-provided analyst expectations of 16.22 billion euros.
“Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated,” said Chief Executive Jochen Hanebeck.
“In contrast, consumer, communication, computing and IoT applications are experiencing a temporary period of low demand.”
Infineon’s fiscal-year adjusted, or “segment”, result was in line with expectations at 4.4 billon euros, up 30% on the year, with a margin of 27.0%.
The dividend is also to rise to 0.35 euros per share from 0.32 euros.
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The company is forecasting slightly slower revenue growth for the 2024 fiscal year of 17 billion euros, plus or minus 500 million.
($1 = 0.9198 euros)
(Reporting by Miranda Murray, Editing by Linda Pasquini)