Infineon withdraws outlook for FY20; economic impact resulting from coronavirus pandemic can currently not be reliably assessed
(WorldNews Germany)

Neubiberg, Germany - 26 March 2020 - The more and more pronounced coronavirus pandemic worldwide is causing severe disruptions to global supply chains, endmarkets and economies. Developments around the coronavirus are very dynamic and result in low visibility. In view of this, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) is withdrawing its outlook for the 2020 fiscal year. Originally the company had anticipated to grow revenues by 5 percent year-over-year (plus or minus 2 percentage points). The impact of the coronavirus pandemic can result in a deviation from this expectation and can lead to a noticeable decline in revenue compared to the last fiscal year. The anticipated reduction in...