November 12, 2018 / 6:32 AM / a month ago

Infineon guides for acceleration in revenue growth in 2018/19

FRANKFURT, Nov 12 (Reuters) - German chipmaker Infineon Technologies said on Monday it expected to achieve revenue growth of 9 to 13 percent in the 2018/19 business year after announcing forecast-beating annual results on the back of strong auto sector demand.

Fourth-quarter revenues were 2.047 billion euros ($2.31 billion), up 5 percent from the prior quarter. That was above both the company’s own 3 percent forecast and mean expectations in a Reuters poll of 13 analysts.

Fourth-quarter segment result was 400 million euros, compared with 356 million in the prior quarter and mean expectations of 382 million.

Full-year revenue growth came in at 8 percent, beating the company’s own guidance for 6.4 to 7.4 percent, while segment margin - a measure of operating profitability at its business units - was 17.8 percent. The company had guided for a segment margin of 17.5 percent in the 2017/18 fiscal year.

The 2018/19 revenue forecast assumes an exchange rate of $1.15 to the euro. ($1 = 0.8845 euros) (Reporting by Douglas Busvine Editing by Maria Sheahan)

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