Infineon: Global automotive market demand is weak
According to media reports, Infineon announced its earnings report for the fourth quarter of 2019 (as of September 30, 2019) on the 12th, and said that although the company was affected by macroeconomics, uncertainties and weak global auto demand, profits in the fourth quarter still rose.
According to the financial report, Infineon Q4 revenue increased by 1% (2% quarterly) to 2.062 billion euros; gross profit margin decreased from 39.8% to 35.5%; and the profit margin of the company's vital department decreased from 19.5% to 15.1%; net profit increased by 14% to 161 million euros (about 177.6 million US dollars).
Infineon CEO Reinhard Ploss said that Infineon is experiencing the impact of weak global automotive demand and expects no improvement in the short term. He added that the market is not expected to recover before the second half of the fiscal year. At the same time, Reinhard Ploss also said that the semiconductor market will show signs of recovery in 2020.