CAPTION: German semiconductor company Infineon plans record investment. (picture alliance/dpa/dpa-Zentralbild)
Infineon is planning large investments after posting a sharp increase in profits for 2022, the German semiconductor manufacturer announced from its Neubiberg headquarters.
Full-year revenue was up 29% at €14.2 billion ($14.7 million) for adjusted operating profit of €3.4 billion, up a full 63% on the year.
After a record 2022 fiscal year, Infineon was significantly increasing its long-term financial targets, and planning a major investment in a new factory in Dresden, the company said.
Revenue would rise to €15.5 billion, it said, describing the outlook as "positive."
Infineon is to invest €5 billion in a new factory in Dresden to expand semiconductor manufacturing capacity. But the company added that a precondition for finally selecting the site was "subject to adequate public funding."
The investment will be the largest single investment in Infineon's history, generating up to 1,000 new jobs in the eastern German city. The new plant could be ready for production by the autumn of 2026.
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