Infineon Technologies Ag · XETR:IFX
Infineon Technologies — Infineon Tech — Q2 2026 Earnings Presentation
18 slides from Infineon Technologies's earnings presentation, May 6, 2026
Slide 1: Second Quarter FY 2026 Analyst Call
Second Quarter FY 2026 Analyst Call Infineon Technologies AG Investor Relations public 1
Slide 2: Group financial performance
Group financial performance Revenues and Segment Result USD exchange rate [EUR m] Segment result Revenues Segment result margin Average revenue exchange rate +6% +4% 3,943 Q2 Q1 Q2 3,812 FY25 FY26 FY26 3,704 3,662 3,591 ø USD/EUR 1.05 1.16 1.17 Order backlog1 [EUR bn] 25
Slide 3: Automotive (ATV)
Automotive (ATV) Revenues Segment Result [EUR m] Revenues [EUR m] Segment result Segment result margin -2% +0% 1,858 1,870 1,921 1,821 1,830 430 385 403 371 331 20.7% 19.8% 22.4% 22.1% 18.1% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 4: Green Industrial Power (GIP)
Green Industrial Power (GIP) Revenues1 Segment Result1 [EUR m] Revenues [EUR m] Segment result Segment result margin +7% +15% 442 409 403 377 349 72 62 47 41 31 15.2% 16.3% 10.9% 8.9% 11.7% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 5: Power & Sensor Systems (PSS)
Power & Sensor Systems (PSS) Revenues1 Segment Result1 [EUR m] Revenues [EUR m] Segment result Segment result margin +26% 257 +8% 1,210 1,260 197 204 1,171 1,075 176 999 135 18.3% 17.4% 20.4% 13.5% 14.5% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26
Slide 6: Connected Secure Systems (CSS)
Connected Secure Systems (CSS) Revenues Segment Result [EUR m] Revenues [EUR m] Segment result Segment result margin -10% 369 -1% 356 349 321 319 45 40 39 23 18 11.2% 11.2% 12.2% 7.2% 5.6% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 7: From 4 to 3 divisions: New organizational structure
From 4 to 3 divisions: New organizational structure to bring innovative system-level solutions to customers faster From… ATV GIP PSS CSS …to: Automotive (ATV) Power Systems (PS) Edge Systems (ES) Focus applications (examples) • SDV • Power infrastructure • Robotics & Edge AI • E-mobility • AI Datace
Slide 8: Well-balanced and simplified business setup
Well-balanced and simplified business setup FY25 revenue of €14.7bn as reported and pro forma CSS 10% MCU, security, wireless connectivity ~20% ES RF, sensors, USB PSS 29% Power (Si MOSFET, GaN), analog ICs ~30% PS Power (IGBT, SiC) GIP 11% OBC ATV 50% ~50% ATV 2026-05-06 public Copyright © Infineon
Slide 9: Gross margin and Opex
Gross margin and Opex Gross profit R&D SG&A [EUR m] [EUR m] [EUR m] 1,515 1,504 1,477 1,462 1,391 626 612 559 560 565 410 401 409 376 379 38.7% 40.9% 38.1% 39.9% 38.7% 15.6% 15.1% 14.3% 17.1% 16.1% 10.5% 11.1%
Slide 10: Investments, Depreciation & Amortization and Free Cash Flow
Investments, Depreciation & Amortization and Free Cash Flow Investments Depreciation & Amortization Free Cash Flow [EUR m] [EUR m] [EUR m] 582 541 470 483 484 478 451 463 452 288 442 174 -1,276* -199 -63 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 11: Working capital, in particular trade working capital components
Working capital, in particular trade working capital components Working capital1 Inventories [EUR m] [EUR m] [days] 4,333 4,280 4,485 4,540 4,141 3,424 3,716 3,568 2,955 3,275 177 176 183 175 153 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2
Slide 12: Development of liquidity and debt
Development of liquidity and debt Capital structure [EUR m] Gross Cash Gross Debt Net Cash/Debt 2,102 2,153 1,687 1,849 1,539 -4,984 -3,445 -5,516 -3,829 -6,829 -4,727 -6,829 -4,980 -7,874 -5,721 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 2026-05-
Slide 13: Outlook for Q3 FY26 and FY26
Outlook for Q3 FY26 and FY26 Outlook Outlook Q3 FY261 FY261 Revenue ~€4.1bn significantly up vs. prior year Adj. Gross Margin low-to-mid 40s % Segment Result Margin high-teens % ~20% FCF ~€1.25bn/ Adj. FCF ~€1.65bn Investments ~€2.7bn D&A ~€2.0bn2 1 Based on an assumed average exchange rate of $1.17
Slide 14: Key points
Key points Q2: Fully in line with guidance – €3.8bn revenue, 17.1% Segment Result Margin Broader upcycle in sight ‒ Business indicators point to a broader upcycle across more and more target markets. Momentum differs across applications: ‒ AI exceptionalism persists, benefitting also our industrial
Slide 15: Questions & Answers
Questions & Answers 2026-05-06 public Copyright © Infineon Technologies AG 2026. All rights reserved. 15
Slide 16: Cinfineon
Cinfineon
Slide 17: Disclaimer
Disclaimer Disclaimer This presentation contains forward-looking statements and/or assessments about the business, financial condition performance and strategy of the Infineon Group. These statements and/or assessments are based on assumptions and management expectation resting upon currently availa
Slide 18: Notes
Notes Investments = 'Investments in property, plant and equipment' + 'Investments in other intangible assets and capitalized developments costs' Order backlog = The total amount of orders received regardless of their current status Working Capital = ('Total current assets' – 'Cash and cash equivalen