The German chip company Infineon achieved a quarter more turnover in the past quarter than a year earlier. That growth could have been even higher, but Infineon says it has faced production obstacles at its plants in Texas and Malaysia.
At the same time, there is a high demand for chips.
Although sales grew strongly year-on-year, there was only an increase of 1 percent compared to the previous quarter. That could have been more if Infineon wasn’t still struggling with the aftermath of a winter storm in Texas earlier this year.
In Malaysia, production is currently being hindered by corona measures. In addition, due to high demand, Infineon’s inventories are now “historically low,” according to CEO Reinhard Ploss. In that situation, the restrictions in Malaysia have “severe consequences”.
Last year, Infineon sold 2.2 billion euros worth of chips in the third quarter of its broken fiscal year. At the time, the company was severely affected by the corona crisis, in which car manufacturers, in particular, shut down factories. Infineon is an important chip supplier to the automotive industry. As a result of this, turnover was considerably higher this quarter at more than 2.7 billion euros.
Infineon posted a profit of 245 million euros in the past quarter. That was slightly higher than in the previous period. For the whole of 2021, Infineon is counting on a turnover of 11 billion euros.