The semiconductor company Infineon continues to benefit from the ongoing chip boom.
In the past quarter, however, corona problems and the consequences of a storm put a strain on production.
In the three months from April to June, sales increased by only one percent to 2.72 billion euros compared to the previous quarter, as the group listed in the Dax announced on Tuesday in Neubiberg.
In the fourth quarter of the fiscal year that has already started, the production problems should be resolved by the end of September.
The proceeds should then increase more strongly again, and the margin should increase.
Infineon explained the comparatively small increase in sales in the third fiscal quarter up to the end of June with pandemic-related restrictions in production in Melaka (Malaysia) and the aftermath of a winter storm in Austin (USA).
The operating profit (segment result) rose to 496 million euros after 470 million in the previous quarter.
In terms of sales, Infineon fell slightly short of the experts' expectations.
The operating result, on the other hand, was roughly as high as forecast.
Stocks at low levels
On the stock exchange, the figures and the management's outlook were cautiously received.
After a strong start to the week, Infineon shares fell by almost 4 percent after starting trading on Tuesday.
The share thus lost most of its price gains from the previous day - and is only slightly in positive territory over the course of the year so far.
In 2020, however, the Infineon share had the second strongest development in the German leading index with an increase of almost 55 percent.
"The demand for semiconductors is unbroken," said Infineon boss Rainhard Ploss.
On the other hand, the delivery situation continues to be very tense.
So inventories are at an all-time low.
“Our chips go straight from production to the end-use,” said Ploss.
In this environment, pandemic-related production restrictions, as recently in Malaysia, weigh twice as much.
Infineon is doing everything possible at all stages of the value chain to supply customers.
"In addition, we continuously ensure additional capacities."
For the fourth quarter of the business year, the group expects a higher increase in sales.
The revenue is expected to rise to around 2.9 billion euros with the margin increasing - that would be a plus of a little more than six percent in a quarterly comparison.
The margin based on operating profit should be 19 percent.
In the third quarter, the value rose to 18.4 percent after 17.4 percent in the previous quarter.
For the entire 2020/2021 financial year up to the end of September, the group continues to expect sales of around EUR 11 billion after EUR 8.6 billion in the previous year. The management thus confirmed its previous forecast. According to the announcement, the operating margin is expected to be over 18 percent. So far, Infineon had declared a margin of around 18 percent as its target. In the 2019/2020 financial year, the margin was 13.7 percent.