Revenue increased by 22% to €3.3 billion, from €2.7 billion, driven by growth in the Automotive, Industrial Power Control and Connected Secure Systems segments.

The company’s segment result, a measure of the operating profitability of its business units, increased from 470 million euros to 761 million euros, with a segment result margin of 23.1% compared to 17.4%.

Infineon

(ticker: IFX.Germany) raised its outlook for 2022 by €500m to around €13.5bn, including a range of plus or minus €500m. The company had previously forecast annual revenue of 13 billion euros, plus or minus 500 million euros.

Infineon also said it expects revenue of around 3.4 billion euros in the third quarter of 2022.

“Global uncertainties, particularly the war in Ukraine and the continuing coronavirus pandemic, are straining supply chains. At the same time, demand for our products and solutions continues to significantly outstrip supply,” Infineon Chief Executive Jochen Hanebeck said in a statement. statement.

Infineon shares fell 2.47% in early morning European trading on Monday. The stock is down 34.74% so far in 2022.

Jefferies analysts said the modest upgrade to full-year numbers was widely expected by the market. “With inventory days climbing both at Infineon and more broadly across the industry, we expect the stock to remain under pressure as it enters a potential bear cycle over the course of the month. fiscal year 23,” analysts wrote in a note on Monday.

Write to Lina Saigol at [email protected]