Investor Presentation • Jul 28, 2011
Investor Presentation
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Infineon Technologies AGInvestor Relations
Infineon Results and Outlook
Business Highlights
| [ ] E U R m |
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| R e e n e v u |
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| l S R t t e g m e n e s u |
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| S R M i a g n r |
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* N I t e n c o m e |
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| I t t n v e s m e n |
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| f 'd F C F t o m c o n r i t o p e a o n s r |
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| 2 2 1 2 0 2 Q 2 Q 3 F Y 1 1 F Y 1 1 |
h G C r o s s a s |
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| l R S R t t e e n e e g m e n e s v u u |
C h N t e a s |
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* Net Income FY 2010 includes a book gain of EUR 93m from the sale of WLC to Lantiq. Net Income Q2 FY11 includes a book gain of EUR 378m from the sale of WLS to Intel Mobile Communications.
'Purchase of property, plant and equipment' + 'Purchase of intangible assets, and other assets' incl. capitalization of R&D expenses.
*Consists of Convertible Bond 2014 (nominal value EUR 156m; book value EUR 127m).
Outlook Q4 FY11(compared to Q3 FY11)
| R e e n e v u |
R t e e n e o v u f b l l t t t e a e a s a |
l d b l k A i i Q 4 t s m p e y o u o o : R t e e n e o g o v u r w h 2 0 % t m o e a n r l b i R 2 0 % t p e o e e n e o g o r v u s y : v u r w y |
|---|---|---|
| l T t o a S t e g m e n l R t e s u |
l b S R t t t e g m e n e s u o e b d l f l t o a a r y |
l d b Q l k A i i 4 t s m p e o o o y u : l S R i t t t e g m e n e s m a g n o u r b b 2 0 t t e a o u p e r c e n l S l b i t R t i t p r e v o u y : e g m e n e s u m a r g n o e b i l i i h 1 1 1. t t H F Y a o u n n e w |
Infineon Results and Outlook
Business Highlights
Source:Strategy Analytics, April 2011.
Copyright © Infineon Technologies 2010. All rights r 2011 eserved. Page 10
IMS Research, July 2010.
IMS Research, July 2011.
In order to fully exploit Infineon's growth potential, Infineon will expand the cost-efficient 200mm manufacturing site in Kulim, Malaysia.
Infineon will further extend its technology leadership by driving 300mm thin wafer manufacturing of power semiconductors out of the newlyacquired facility in Dresden.
Revenue and Segment Result
Sources: CSM, Strategy Analytics (May 2011). TAM = total addressable market.
Power demand for ICE
ICE = internal combustion engine.
HEV = hybrid electric vehicle.
Strong demand for power and non-power products.
Sources: EPIA 2011, Gartner 2010, IMS Research 2010, UNIFE 2010, Yole 2010, Infineon 2011. DPM = digital power managementTAM = total addressable market
Copyright © Infineon Technologies 2011. All rights reserved. Page 18
Revenue and Segment Result
| b M C P t + o o m a m e n y |
d i f i i I t t e n c a o n |
i N B e s n e s s w u |
|||||
|---|---|---|---|---|---|---|---|
| b M C o o m |
P t a y m e n |
T t r a n s p o r |
G t o e n m e n v r |
N F C |
T P M |
b d d d E m e e i S t e c u r y |
M 2 M |
| T A M : 3 % ~ |
p a |
T A M : 0 % 1 p a ~ |
T A M : 0 % 1 p a ~ |
T A M : |
1 5 ~ |
% p a |
CCS: ~5-7% p.a.
| 3 m hs de d t on en |
9 m hs de d t on en |
||||
|---|---|---|---|---|---|
| in E mi llio for the r sh da pt ta uro n; e xce pe are |
Ju n 3 0 , 11 |
M a r 3 1, 11 |
Ju n 3 0 , 10 |
Ju n 3 0 , 11 |
Ju n 3 0 , 10 |
| Re ve nu e |
1, 0 4 3 |
9 9 4 |
8 8 5 |
2, 9 5 9 |
2, 3 5 3 |
| Co of od old st go s s |
( ) 6 1 3 |
( ) 5 7 3 |
( ) 5 5 3 |
( ) 1, 7 2 4 |
( ) 1, 4 9 5 |
| Gr fit o ss p ro |
4 3 0 |
4 2 1 |
3 3 2 |
1, 2 3 5 |
8 5 8 |
| Re h a nd de lop nt se arc ve me exp en se s |
( 1 0 9 ) |
( 1 1 2 ) |
( 1 0 0 ) |
( 3 2 9 ) |
( 2 8 ) 5 |
| Se llin l an d a dm inis tiv tra g, g en era e e xpe ns es |
( ) 1 1 4 |
( ) 1 1 3 |
( ) 1 0 0 |
( ) 3 3 0 |
( ) 2 8 3 |
| Ot he ing inc rat r o pe om e |
2 | 9 | 2 | 1 3 |
1 1 |
| Ot he ing rat r o pe ex pe ns e |
( ) 8 |
( ) 1 8 |
( ) 1 5 |
( ) 3 2 |
( ) 1 0 7 |
| Op ing in at er co me |
2 0 1 |
1 8 7 |
1 1 9 |
5 5 7 |
1 9 4 |
| Fin cia l in an co me |
1 3 |
8 | 5 | 2 7 |
2 4 |
| Fin cia l ex an pe ns e |
( ) 1 4 |
( ) 1 1 |
( ) 1 1 |
( ) 4 3 |
( ) 7 9 |
| Inc e f inv ted fo ing th ity tho d tm ts om rom es en ac co un r us e e qu me |
( ) 1 |
2 | 4 | 1 | 7 |
| Inc fr inu ing io be fo inc nt rat o me o m co o pe ns re o me ta xe s |
1 9 9 |
1 8 6 |
1 1 7 |
5 4 2 |
1 4 6 |
| Inc e t om ax exp en se |
( 2 4 ) |
( 1 3 ) |
( 1 4 ) |
( 4 ) 5 |
( 2 ) 7 |
| Inc fr inu ing io nt rat o me o m co o pe ns |
1 7 5 |
1 7 3 |
1 0 3 |
4 9 7 |
1 1 9 |
| Inc e f dis nti ed tio f in t o ta om rom co nu op era ns , ne co me xes |
1 5 |
3 9 9 |
2 3 |
4 9 7 |
1 5 1 |
| N in et co me |
1 9 0 |
5 7 2 |
1 2 6 |
9 9 4 |
2 7 0 |
| At trib ble uta to : |
|||||
| No llin int tro sts n-c on g ere |
- | - | - | - | 1 |
| Sh ho lde of Inf ine Te ch log ies AG are rs on no |
1 9 0 |
2 5 7 |
1 2 6 |
9 9 4 |
2 6 9 |
| Ba sic rni sh trib ble sh ho lde of Inf ine at uta to ea ng s p er are are rs on Te ch log ies AG ( in E ): no uro |
|||||
| ( n) – We ig hte d a ha tst din in m illio ba sic ve rag e s res ou an g |
1, 0 8 7 |
1, 0 8 7 |
1, 0 8 7 |
1, 0 8 7 |
1, 0 8 7 |
| Ba sic rni sh ( in E ) fro nti ing tio ea ng s p er are uro m co nu op era ns |
0. 1 6 |
0. 1 6 |
0. 1 0 |
0. 4 6 |
0. 1 1 |
| ( ) fro Ba sic rni sh in E dis nti ed tio ea ng s p er are uro m co nu op era ns |
0. 0 1 |
0. 3 7 |
0. 0 2 |
0. 4 5 |
0. 1 4 |
| B ic ing ha ( in Eu ) as ea rn s p er s re ro |
0. 1 7 |
5 0. 3 |
0. 1 2 |
0. 9 1 |
5 0. 2 |
| Dil d e ing sh trib ble sh ho lde of ute at uta to arn s p er are are rs |
|||||
| Inf ine Te ch log ies AG ( in E ): on no uro |
|||||
| We ig hte d a ha din ( in m illio n) – di lut ed tst ve rag e s res ou an g |
1, 1 5 7 |
1, 1 6 0 |
1, 1 7 2 |
1, 1 6 1 |
1, 0 8 7 |
| ( ) fro Dil ute d e ing sh in E nti ing tio arn s p er are uro m co nu op era ns |
0. 1 6 |
0. 1 5 |
0. 0 9 |
0. 4 4 |
0. 1 1 |
| ( ) fro Dil ute d e ing sh in E dis nti ed tio arn s p er are uro m co nu op era ns |
0. 0 1 |
0. 3 5 |
0. 0 2 |
0. 4 3 |
0. 1 4 |
| D ilu d e nin ha ( in Eu ) te ar gs pe r s re ro |
0. 1 7 |
0. 5 0 |
0. 1 1 |
0. 8 7 |
0. 2 5 |
| in E milli uro on |
Ju n 3 0, 1 1 |
M a r 3 1, 1 1 |
Se p 3 0, 1 0 |
|---|---|---|---|
| A s set s: |
|||
| Cur t as set ren s: |
|||
| Cas h an d ca sh e quiv ale nts |
822 | 1, 162 |
1, 667 |
| Fin ial i stm ent anc nve s |
1,7 63 |
1,5 29 |
60 |
| Tra de a nd o the ceiv able r re s |
828 | 829 | 687 |
| the rin: Tra de a ceiv able unt cco s re s |
584 | 593 | 622 |
| Inve nto ries |
63 1 |
615 | 514 |
| Inco eiva ble tax me rec |
15 | 13 | 7 |
| Oth nt f inan cial ets er c urre ass |
4 | 9 | 72 |
| Oth nt a ts er c urre sse |
101 | 97 | 88 |
| Ass ets cla ssif ied as h eld for sale |
4 | - | 495 |
| T o tal nt ets cu rre ass |
4, 168 |
4, 254 |
3, 590 |
| Pro ty, p lant d eq uipm ent per an |
1, 185 |
962 | 838 |
| Go odw ill a nd o the r int ible ets ang ass |
103 | 97 | 87 |
| d fo Inve stm ent nte ing the uity tho d s ac cou r us eq me |
31 | 37 | 35 |
| Def d ta set erre x as s |
22 1 |
223 | 308 |
| Oth er f inan cial ets ass |
124 | 126 | 119 |
| Oth ts er a sse |
31 | 25 | 16 |
| T o tal set as s |
5, 863 |
5, 724 |
4, 993 |
| Lia bili tie nd uit s a eq y: |
|||
| Cur t lia bilit ies: ren |
|||
| Sho deb d cu ritie f lo de bt rt-te t an t m atu term rm rren s o ng- |
83 | 130 | 133 |
| Tra de a nd o the yab les r pa |
760 | 779 | 665 |
| the rin: Tra de a yab les unt cco s pa |
718 | 685 | 659 |
| Cur ovi sio t pr ren ns |
619 | 582 | 553 |
| Inco able tax me pay |
113 | 142 | 111 |
| Oth nt f inan cial liab ilitie er c urre s |
121 | 11 | 16 |
| Oth nt li abil ities er c urre |
315 | 323 | 153 |
| ified for Liab ilitie s cl held le ass as sa |
- | - | 177 |
| T o tal liab ilit ies nt cu rre |
2, 01 1 |
1, 967 |
1, 808 |
| Lon deb g-te t rm |
256 | 226 | 263 |
| Pen sio n pl and sim ilar mit nts ans com me |
147 | 147 | 146 |
| Def d ta x lia bilit ies erre |
9 | 11 | 11 |
| Lon g-te vis ion rm pro s |
45 | 42 | 55 |
| Oth er f inan cial liab ilitie s |
6 | 5 | 6 |
| Oth er li abil ities |
69 | 77 | 79 |
| T o tal lia bili tie s |
2, 543 |
2, 475 |
2, 368 |
| Sha reh old ' eq uity ers : |
|||
| Ord inar y sh pita l are ca |
2, 173 |
2, 173 |
2, 173 |
| Add itio nal paid -in c apit al |
5, 875 |
5, 880 |
6, 048 |
| Acc ulat ed d efic it um |
( ) 4, 619 |
( ) 4, 809 |
( ) 5, 613 |
| Oth er r ese rve s |
4 | 5 | 17 |
| Put tion sha n tr op s o eas ury res |
( 113 ) |
- | - |
| T o tal uit eq y |
3, 320 |
3, 249 |
2, 625 |
| T o tal lia bili tie nd uity s a eq |
5, 863 |
5, 724 |
4, 993 |
| 3 m | ont h ded s en |
||
|---|---|---|---|
| in Eu illion ro m |
Jun 3 0 , 11 |
M a r 3 1 , 11 |
Jun 3 0 , 10 |
| N et inc o m e |
190 | 572 | 126 |
| Less inco me f disc onti nued ratio f inc : net et o taxe rom ope ns, n ome s |
(15 ) |
(39 9) |
(23 ) |
| Adju ncile inco h pro vide d by ratin tiviti stm ents to r net me t t cas eco o ne ope g ac es: |
|||
| Dep recia tion and rtiza tion amo |
94 | 89 | 80 |
| Inco me t ax |
24 | 13 | 14 |
| Inter est r esul t |
4 | 3 | 12 |
| Prov ision for (rec ry of ) do ubtf ul a unts ove cco |
(2) | 3 | 1 |
| Los (gain s) o les o f bus ines and inter in s ubsi diari ests ses n sa ses es |
(2) | - | - |
| Los in co tion with the deco lidat ion o f AL TIS ses nnec nso |
- | - | (4) |
| (gain s) o Los n dis als o f pro perty , pla nt an d eq uipm ent ses pos |
- | - | (1) |
| Inco me f inve stm ents ted f sing the equi ty m etho d rom acc oun or u |
1 | (2) | (4) |
| Divid ends ived from ocia ted c anie rece ass omp s |
5 | - | 3 |
| Impa irme nt ch arge s |
- | (3) | 5 |
| Sha re-b ased atio com pens n |
- | 1 | - |
| Cha in o ting d lia biliti ts an nges pera asse es: |
|||
| Tra de a nd o ther ivab les rece |
(5) | (72 ) |
(82 ) |
| Inve ies ntor |
(20 ) |
13 | (18 ) |
| Oth rrent ets er cu ass |
1 | 2 | (3) |
| Tra de a nd o ther able pay s |
31 | 13 | 83 |
| Pro visio ns |
50 | 20 | (46 ) |
| Oth liab ilitie rrent er cu s |
(10 ) |
(39 ) |
142 |
| Oth and liab ilitie sets er as s |
(13 ) |
(21 ) |
(6) |
| Inte ived rest rece |
6 | 6 | 5 |
| Inte rest paid |
(12 ) |
- | (25 ) |
| Inco me t aid ax p |
(16 ) |
(22 ) |
(8) |
| N et h pr o vi ded by rati ctiv itie s fr ntin uing tio n cas o pe ng a o m co o p era s |
311 | 177 | 251 |
| o vi (us ed i n) o atin tivi ties fro isco ntin N et h pr ded by m d ued cas per g ac |
(32 ) |
84 | (11 ) |
| rati o pe o ns o vi rati ctiv itie N et h pr ded by cas o pe ng a s |
279 | 261 | 240 |
| Cas h flo ws f inve sting act ivitie rom s: |
|||
| Purc hase s of fina ncia l inv estm ents |
(55 0) |
(1,4 68) |
- |
| Proc eeds from sale s of fina ncia l inv estm ents |
321 | - | 376 |
| Purc hase s of inta ngib le as and oth sets sets er as |
(11 ) |
(9) | (9) |
| Purc hase s of , pla d eq uipm perty nt an ent pro |
(30 8) |
(15 5) |
(72 ) |
| from s of Proc eeds sale perty , pla nt a nd e quip t and oth sets pro men er as |
- - |
3 | |
| N et h pr o vi ded by (us ed i n) i stin tivi ties fro o nt inui atio cas nve g ac m c ng o per ns |
(54 8) |
(1,6 32) |
298 |
| N et h pr o vi ded by (us ed i n) i stin tivi ties fro m d isco ntin ued cas nve g ac |
(43 ) |
1,0 77 |
(35 ) |
| rati o pe o ns N et h pr o vi ded by (us ed i n) i stin tivi ties cas nve g ac |
(59 1) |
(55 5) |
263 |
| Cas h flo ws f fina ncin tiviti rom g ac es: |
|||
| Net chan ge in sho rt-te rm d ebt |
- | (8) | |
| Proc eeds from issu of lo ng-t deb t ance erm |
2 | - | 2 |
| Rep ents of lo ng-t deb t aym erm |
(17 ) |
- (16 ) |
(264 ) |
| Rep urch of c ertib le su bord inate d no tes ase onv |
(16 ) |
(27 ) |
(3) |
| Cha in re stric ted c ash nge |
(1) | (1) | |
| Proc eeds from the issu of p ut o ptio ns fo n sh ance r ow ares |
4 | - | |
| Divid end ents |
- | - | |
| paym h us ed i n fi ivit ies ntin act |
- (28 ) |
(10 9) (15 2) |
- (27 |
| N et cing fro m uing tio n cas nan co o p era s tivi |
1 | 4) | |
| N et h pr o vi ded by fina ncin ties fro m d isco ntin ued tio n cas g ac o p era s |
- | - | |
| N et h us ed i n fi cing act ivit ies cas nan |
(28 ) |
(15 1) |
(27 4) |
| Net incre (dec e) in h an d ca sh e quiv alen ts ase reas cas |
(34 0) |
(44 5) |
229 |
| Effe f for eign hang e ch h an d ca sh e quiv alen ct o e rat ts exc ange s on cas |
- | (3) | (5) |
| Cas h an d ca sh e quiv alen beg innin g of iod ts at per |
1,16 2 |
1,6 10 |
1,2 28 |
| C as h an d ca sh e quiv alen ts a t en d o f pe rio d |
822 | 1,1 62 |
1,4 52 |
Corporate Vice President, Corporate Development & Investor Relations- +49 89 234-26153 [email protected]
Joachim BinderSenior Director, Investor Relations- +49 89 234-25649
Aleksandar JosicManager, Investor Relations-+49 89 234-83045
Holger SchmidtManager, Investor Relations-+49 89 234-22332
This presentation was prepared as of 28 July 2011 and is current only as of that date.
This presentation includes forward-looking statements and assumptions about the future of Infineon's business and the industry in which we operate. These include statements and assumptions relating to general economic conditions, future developments in the world semiconductor market, our ability to manage our costs and to achieve our growth targets, the resolution of Qimonda's insolvency proceedings and the liabilities we may face as a result of Qimonda's insolvency, the benefits of research and development alliances and activities, our planned levels of future investment, the introduction of new technology at our facilities, our continuing ability to offer commercially viable products, and our expected or projected future results.
These forward-looking statements are subject to a number of uncertainties, such as broader economic developments, including the market environment; trends in demand and prices for semiconductors generally and for our products in particular, as well as for the end-products, such as automobiles, drives, renewable energies and consumer electronics , that incorporate our products; the success of our development efforts, both alone and with partners; the success of our efforts to introduce new production processes at our facilities; the actions of competitors; the continued availability of adequate funds; any mergers, acquisitions or dispositions we may undertake; the outcome of antitrust investigations and litigation matters; and the resolution of Qimonda's insolvency proceedings; as well as the other factors mentioned in this presentation and those disclosed at other occasions.
As a result, Infineon's actual results could differ materially from those contained in or suggested by these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Infineon does not undertake any obligation to publicly update or revise any forward-looking statements in light of developments which differ from those anticipated.
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