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This year, the semiconductor manufacturer Infineon Technologies Austria AG celebrates its 50th anniversary under the leadership of CEO Sabine Herlitschka. During the holidays alone, Corona released the bill for the tech company, which is a subsidiary of the German stock market group Infineon Technologies, which was (likely) postponed until 2021. And fiscal 2019/20 results also suffered.
At € 3.1 billion, sales were roughly at the level of the previous year. However, pre-tax earnings plummeted by about a third, specifically 36 percent, to 196 million euros. The main reason for this is reduced capacity utilization in production, that is, “unused capacities” as Infineon Technologies Austria AG CFO Oliver Heinrich puts it. From May to the end of July, around 1,500 members of the workforce worked part-time jobs.
According to Thomas Reisinger, COO, there was “underutilization”, especially in the summer: the auto sector suffered sharp declines. Utilization is now back at 90 to 95 percent, as Reisinger explains. By the end of the year, “almost 100 percent” will be achieved again, according to his forecast.
