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ots Ad hoc-Service: Infineon Technologies AG <DE0006231004>Infineon Announces 2nd-Quarter and 1st-Half-Year Results 2001 (ended March 31

Munich (ots Ad hoc-Service) -

Ad hoc-announcement. The sender is solely
responsible for the contents of this announcement.
Infineon Announces 2nd-Quarter
and 1st-Half-Year Results 2001 (ended March 31)
S E C O N D Q U A R T E R (January 1 to March 31, 2001)
The semiconductor manufacturing group Infineon Technologies today
announced results for its second quarter in fiscal year 2001 (ending
March 31, 2001) with revenues reaching Euro 1.65 billion, increasing
8 percent year-on-year. This growth was driven by strong demand in
Infineon's Wireline Communications, Security & Chip Card ICs and
Automotive & Industrial business groups. Infineon maintained the
revenue levels of the previous quarter despite the currently volatile
market environment. Infineon achieved a gross margin of 28 percent,
down from 40 percent in the first quarter of this year and 39 percent
in the second quarter of fiscal year 2000.
EBIT (earnings before interest and tax) decreased to Euro 10
million, down Euro 243 million year-on-year and down Euro 436 million
from the previous quarter of this year, which included an one-time
pre-tax gain of Euro 202 million. Infineon's lower earnings were
mainly due to the continued fall of prices for memory products and
the slowdown in the demand for mobile handsets.
Net income in the second quarter was Euro 23 million, down Euro
123 million from the same quarter of the last fiscal year and Euro
257 million from the previous quarter of this year. Earnings per
share (basic and diluted) for the second quarter was Euro 0.04 as
compared with Euro 0.24 in the second quarter of the last fiscal year
and Euro 0.45 in the previous quarter of this year.
Issuer's information/explanation remarks concerning this ad hoc
announcement:
F I R S T H A L F Y E A R (October 1, 2000, to March 31, 2001)
Total revenues for the first half of fiscal year 2001 amounted to
Euro 3.31 billion, up 8 percent from Euro 3.07 billion in the same
period last year. EBIT for the first half of this year reached Euro
456 million, which included a one- time pre-tax gain of Euro 202
million from the sale of the Image and Video business, down Euro 41
million from the first half of last year. Net income was Euro 303
million, up Euro 24 million from the same period last year.
"Infineon maintained strong margins in its non-DRAM businesses --
Wireline Communications, Security & Chip Card ICs and Automotive &
Industrial -- despite a difficult market environment due to continued
demand in these segments, further productivity gains and new
high-margin products", commented Dr. Ulrich Schumacher, President and
CEO of Infineon Technologies AG. "Furthermore, our strategy to
optimize our product portfolio by building on these businesses is
showing positive results as they help to counterbalance the current
weakness in the memory market."
O U T L O O K F O R 2 0 0 1 The current market situation in the
semiconductor industry remains volatile with little visibility. Over
the past several months, many leading industry market analysts have
significantly lowered their growth expectations for the semiconductor
industry as a whole in 2001 and today most predict negative growth
for 2001.
Infineon's outlook varies for its different business segments. The
company remains confident about strong year-on-year revenue growth
and positive EBIT margin development in its Wireline Communications,
Security & Chip Card ICs and Automotive & Industrial businesses.
Growth drivers in Wireline Communications will be the traditional
telecom infrastructure markets and the continuing demand for
Infineon's high-speed communication and fiber optical solutions. The
Security & Chip Card ICs business is driven by strong demand for
advanced security controllers and MultiMediaCards. In the Automotive
& Industrial business, the outlook remains positive, as it is driven
by strong demand for Infineon's advanced car electronics and
industrial power solutions. For these segments Infineon expect a
double-digit revenue increase year-on-year and a significantly
improved EBIT.
Visibility on the development in the mobile communications market
remains low. At the moment there are no clear signs of an early
recovery in demand for mobile phones. Therefore, Infineon cannot
exclude a weaker performance of its Wireless Communications group in
the third quarter. Nevertheless, some of Infineon's customers
continue to report that they expect a positive development in the
second half of the calendar year.
Following a very difficult second quarter with further declining
prices for memory products there are initial indications that demand
for DRAMs is increasing while inventory levels at PC manufacturers
have been further reduced. Prices for DRAMs have stabilized at a low
level in March and the possibility for a positive price development
is increasing. It is still too early to identify clear signs that
this trend will turn into a sustainable development. However,
Infineon restates its assumption about a positive DRAM market
development in the second half of the calendar year as worldwide
capacity for memory chips is not expected to increase significantly.
"Infineon has taken steps to address the current volatile
semiconductor market environment. Reflecting our reduced growth
expectations for the full year, we have lowered capital expenditures
for fiscal year 2001 from an originally planned Euro 2.8 billion to
approximately Euro 2.3 billion," concluded Dr. Schumacher.
F U R T H E R I N F O R M A T I O N will be available on our web
site http://www.infineon.com/boerse/english/quartal.htm from today
(Tuesday, April 24) circa at 08:00 AM (GMT) / 03:00 AM (Eastern). The
Management Board of Infineon Technologies will conduct a telephone
conference with analysts on the same day at 03:00 PM (GMT) / 10:00 AM
(Eastern), to discuss operating performance for the recent months. An
audio webcast of the telephone conference will be available both live
and for download on Infineon's web site at
http://www.infineon.com/boerse/english/webcast-live.htm.
T H I S D I S C U S S I O N includes forward-looking statements
about our future business. These forward-looking statements include
statements relating to future developments of the world semiconductor
market, especially the market for memory products, Infineon's future
growth, the benefits of research and development alliances and
activities, our planned levels of future investment in the expansion
and modernization of our production capacity, the introduction of new
technology at our facilities, the transitioning of our production
processes to smaller structures, cost savings related to such
transitioning and other initiatives, our successful development of
technology based on industry standards, our ability to offer
commercially viable products based on our technology, our ability to
achieve our growth targets, and the continuation of current
developments in our financial results in the 2001 financial year.
These forward-looking statements are subject to a number of
uncertainties, including trends in demand and prices for
semiconductors generally and for our products in particular, the
success of our development efforts, both alone and with our partners,
the success of our efforts to introduce new production processes at
our facilities and the actions of our competitors, the availability
of funds for planned expansion efforts, as well as the other factors
mentioned herein. As a result, our actual results could differ
materially from those contained in the forward-looking statements.
WKN: 623100; Index: DAX Listed: Amtlicher Handel in Frankfurt;
Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End
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