Infineon, a leading supplier of chips to the auto industry, is expecting revenues of around 13 billion euros ($14.7 billion) in 2022 from 11.06 billion in 2021.
“Demand for semiconductors is outstripping supply by far,” Infineon CEO Reinhard Ploss said in a statement. “Electrification and digitalization continue to drive substantial growth in our target markets. We expect the supply situation in some application areas to remain tight well into the current calendar year.”

Infineon said revenue grew 5 percent to €3.159 billion in the first quarter of the 2022 fiscal year, compared with €3.007 billion in the previous three month period.

Revenue continued to grow in the Automotive (ATV), Power & Sensor Systems (PSS) and Connected Secure Systems (CSS) segments, while the Industrial Power Control (IPC) segment recorded a slight decrease. The gross margin improved slightly to 41.5 percent, compared with 41.2 percent in the preceding quarter.

Infineon expects to generate revenue of around €3.2 billion in the second quarter of the 2022 fiscal year. IPC segment revenue is forecast to grow by a high single-digit percentage and ATV revenue in the low single-digit range. CSS revenue is set to remain more or less stable, while PSS revenue is expected to decline seasonally by a low single-digit percentage.

ATV and CSS segment revenue is predicted to increase at a higher percentage rate than Group revenue overall. The revenue growth rate in the PSS segment is forecast to be at a similar level to that of the Group. IPC segment revenue is expected to grow by a high single-digit percentage.