Infineon Assumes EUR/USD at 1.20 for Fiscal Year -- Currency Comment
By Mauro Orru
Infineon Technologies AG assumes the euro will average $1.20
against the dollar within its guidance for the third quarter and
the full fiscal year ending in September.
The German chip maker's prediction is the same as it was for the
second quarter and assumes that the euro won't stray too far from
current levels. The euro last trades at $1.2014.
The assumption of $1.20 is higher than the $1.18 estimated by
peer chip maker STMicroelectronics NV last week when it issued
guidance for its second quarter which ends on July 3.
Infineon expects revenue for its third quarter ending June 30 to
be between EUR2.6 billion and EUR2.9 billion, with a segment result
margin--a closely watched metric comparable to adjusted earnings
before interest and taxes margin--at around 18% at the
For the fiscal year ending Sept. 30, it expects revenue at
around EUR11 billion, plus or minus 3%, and an adjusted EBIT margin
of about 18%.
Write to Mauro Orru at email@example.com; @MauroOrru94
(END) Dow Jones Newswires
May 04, 2021 04:10 ET (08:10 GMT)
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