RESULTS | Infineon presents second quarter 2020 results

Infineon Technologies released its financial results for the second quarter of 2020, ended 31 March. "The world is in the midst of a crisis of unprecedented proportions; the effects of the coronavirus pandemic are unprecedented and the semiconductor industry is definitely feeling the impact. Infineon is not immune," commented CEO Reinhard Ploss. "Our company is used to handling crisis situations. Despite all the difficulties, in the supply chain and in production, we have been able to maintain our operations in recent weeks. We also took cost-cutting measures right from the start. However, the outlook for the second half of the fiscal year has definitely worsened. We expect a sharp decline in sales in the automotive segment and are monitoring the situation in our target markets in order to be able to adapt to different possible scenarios. However, Infineon continues to evolve, even in less than optimal scenarios: the acquisition of Cypress is the most significant event in recent months. As Ploss concludes: "With the acquisition of Cypress, we have taken an important step forward in our strategy of linking the physical and digital worlds". In the second quarter of 2020 Infineon recorded revenues of EUR 1.986 million.