Infineon Technologies Ag · XETR:IFX

Infineon Technologies — Q1 FY2010 Earnings Presentation

29 slides from Infineon Technologies's earnings presentation, Jan 29, 2010

  1. Slide 1: First Quarter FY 2010 Quarterly Update

    First Quarter FY 2010 Quarterly Update Infineon Technologies AG Investor Relations

  2. Slide 2: Infineon Results and Outlook; Business Highlights

    Î Infineon Results and Outlook Î Business Highlights Januar 29, 2010 Copyright © Infineon Technologies 2009. All rights reserved. Page 2

  3. Slide 3: Q1 FY10 Revenue Increased to EUR 941m; Profitability Improved Further

    Q1 FY10 Revenue Increased to EUR 941m; Profitability Improved Further Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 941 [EUR m] Revenue Segment Result 855 742 761 669 88 52 0 -106 -113 Net income: -404 -258 -23 14 66 [eWLB (embedded wafer-level ball grid array)] Januar 29, 2010 Copyright © Infineon Techno

  4. Slide 4: Q1 FY10 Revenue and Result by Segment: All Operating Divisions Profitable

    Q1 FY10 Revenue and Result by Segment: All Operating Divisions Profitable [EUR m] 300 279 273 270 250 200 150 100 83 37 44 50 33 17 1 3 0 -5 -6 -50 Revenue Segment Result Automotive Industrial & Chip Card Wireless Other Corporate & Multimarket & Security Solutions Operating Eliminations Segments Jan

  5. Slide 5: Net Cash Position Improved to EUR 874m

    Net Cash Position Improved to EUR 874m [EUR m] Capital structure after Q1 FY10 „ Repurchase of EUR 48m nominal amount of 1,072 986 1,022 outstanding bonds in Q1 534* 270 804 850 FY10. 443 347 377 280 „ Other debt repayments of 1,507 1,678 EUR 10m in Q1 FY10. 779 665 871 657 874 570 629 675 609 „ Con

  6. Slide 6: CapEx Significantly Below D&A in FY 2010

    CapEx Significantly Below D&A in FY 2010 CapEx1) D&A [EUR m] 600 513 500 Q4 ~400 400 Q3 300 220 - 2502) Q2 200 154 Q4 106 100 Q3 Q1 Q2 48 Q1 Q1 Q1 Q1 Q1 0 FY 2009 Q1 FY10 Guidance FY 2009 Q1 FY10 Guidance for FY10 for FY10 1) For definition please see slide 24 in appendix. 2) As of January 29, 2010,

  7. Slide 7: Strong Working Capital Management

    Strong Working Capital Management Working Capital2) Inventories [EUR m] Bars: Inventories [EUR m] Lines: DoI2) [days] incl. WLC excl. excl. Altis excl. excl. Altis 250 WLC 700 661 incl. WLC 100 214 WLC 90 200 600 543 521 503 80 142 500 460 451 70 150 106 60 400 100 50 300 40 50 35 200 30 0 20 100 10

  8. Slide 8: OpEx Up Q-on-Q Mainly Due to End of Temporary Labour Cost Reduction Measures

    OpEx Up Q-on-Q Mainly Due to End of Temporary Labour Cost Reduction Measures S and G&A R&D [EUR m] 133 130 140 118 120 109 106 108 103 100 99 100 90 80 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 FY09 FY09 FY09 FY09 FY10 FY09 FY09 FY09 FY09 FY10 Selling General & Administration Januar 29, 2010 Copyrigh

  9. Slide 9: Q2 FY10 Outlook (IFRS)

    Q2 FY10 Outlook (IFRS) ƒ Infineon expects revenues for Q2 FY10 to be approximately on the same level or, due to seasonality, down slightly compared to Q1 FY10. ƒ Revenues in the ATV, IMM, and CCS segments are expected to increase compared to Q1 FY10. Revenues ƒ Revenues in the WLS segment are likely

  10. Slide 10: FY 2010 Outlook (IFRS)

    FY 2010 Outlook (IFRS) ƒ In light of the strong performance in H1 FY10, and taking a conservative view regarding the sustainability of current growth patterns in H2 FY10, Infineon expects growth in revenues in excess of 20% for FY 2010, at an assumed USD/EUR ratio of 1.50. ƒ The company still antici

  11. Slide 11: Infineon Results and Outlook; Business Highlights

    Î Infineon Results and Outlook Î Business Highlights Januar 29, 2010 Copyright © Infineon Technologies 2009. All rights reserved. Page 11

  12. Slide 12: Revenue Split by Focus Area

    Revenue Split by Focus Area Q1 FY10 revenue split Industrial & Multimarket Automotive Energy Efficiency: EUR 552m Communications: EUR 270m Security: EUR 83m Chip Card Wireless & Security Solutions Januar 29, 2010 Copyright © Infineon Technologies 2009. All rights reserved. Page 12

  13. Slide 13: Automotive Segment (ATV)

    Automotive Segment (ATV) Revenue and Segment Result for FY 2009 and Q1 FY10 Revenue Segment Result [EUR m] 300 279 238 250 206 206 189 200 150 100 37 50 21 0 -50 -17 -100 -56 -65 Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Major recent developments „ Strong revenue groth mainly driven by improved market

  14. Slide 14: Three Major Applications in Electric Cars: Drive Train, Battery Management, Charger

    Three Major Applications in Electric Cars: Drive Train, Battery Management, Charger Drive Train Components: – HybridPACK™1 for mild hybrids (≤ 30 kW) – HybridPACK™2 for full hybrids (up to 150 kW) – discrete IGBTs for electric vehicles What counts? – highest power density – innovative material combi

  15. Slide 15: Electric Drive Train is Gaining Momentum – Numerous Vehicle Launches Expected 2010 through 2015

    Electric Drive Train is Gaining Momentum – Numerous Vehicle Launches Expected 2010 through 2015 Market growth fostered by new vehicle launches Fast followers enter HEV market HEV introduction dominated by Japanese OEMs [HEV = hybrid electric vehicle] 1.4m 2010 – 2015: 4.4m cars CAGR 26% cars Source:

  16. Slide 16: Industrial & Multimarket Segment (IMM)

    Industrial & Multimarket Segment (IMM) Revenue and Segment Result for FY 2009 and Q1 FY10 Revenue Segment Result [EUR m] 300 273 257 250 234 221 193 200 150 100 44 50 31 2 9 0 -7 -50 Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Major recent developments „ Revenue driven by renewable energies, traction an

  17. Slide 17: Technically Superior Power Semiconductors in Prestigious Buildings

    Technically Superior Power Semiconductors in Prestigious Buildings Vatican’s Auditorium Location: Auditorium Paolo VI, Rome, Italy Key data: 220 kW power generation, saving of 225 t CO2 / year Efficiency: more than 98% Components: CoolMOS™, discrete IGBT, IGBT modules Customer: SMA Solar Technology

  18. Slide 18: Renewable Energy Projects Powered by Infineon's Power Semiconductors

    Renewable Energy Projects Powered by Infineon’s Power Semiconductors BARD Offshore 1 Germany‘s first off-shore wind park. Location: 90 km northwest of Borkum, North Sea, Germany Key data: ƒ 80 wind turbines of 5 MW each ƒ 400 MW total power generation ƒ completion exp. end of CY 2010 Components: Pow

  19. Slide 19: Chip Card & Security Segment (CCS)

    Chip Card & Security Segment (CCS) Revenue and Segment Result for FY 2009 and Q1 FY10 Revenue Segment Result [EUR m] 100 91 88 80 82 83 80 60 40 20 4 1 0 -1 1 -20 -8 Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Major recent developments „ Infineon recently started deliveries for the China electronic pass

  20. Slide 20: Three Core Competencies at CCS

    Three Core Competencies at CCS Tailored Security Focus on: implementation of made-to-measure security functions which fulfill application-specific security needs Examples: – entertainment (e.g. Pay-TV) – brand protection – public transport Embedded Control Focus on: right trade-off between computing

  21. Slide 21: Wireless Solutions Segment (WLS)

    Wireless Solutions Segment (WLS) Revenue and Segment Result for FY 2009 and Q1 FY10 Revenue Segment Result [EUR m] 300 265 270 251 250 197 204 200 150 100 50 19 18 17 0 -50 -29 -44 -100 Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Major recent developments „ Revenues remained on high level mainly due to

  22. Slide 22: Recent Product Launches

    Recent Product Launches HSUPA Platform XMM 6160 Features: 65nm technology; power management unit (PMU) and baseband monolithically integrated; RF transceiver: SMARTi UE family; support of 3G bands I, II, IV, V and VIII. Status: Ramp at major customers in FY 2010. EDGE Platform XMM 2130 Features: 65n

  23. Slide 23: Infineon: Innovative semiconductor solutions for energy efficiency, communications and security

    Cinfineon Innovative semiconductor solutions for energy efficiency, communications and security.

  24. Slide 24: Notes

    Notes CapEx = ‘Purchase of property, plant and equipment‘ + ‘Purchase of intangible assets, and other assets‘ incl. capitalization of R&D expenses Working Capital = (‘Total current assets’ – ‘Cash’ – ‘Available-for-sale financial assets’ – ‘Assets classified as held for disposal’) – (‘Total current

  25. Slide 25: Infineon Consolidated Statements of Operations (IFRS) (unaudited)

    Infineon Consolidated Statements of Operations (IFRS) (unaudited) 3 months ended in Euro million Dec 31, 08 Sep 30, 09 Dec 31, 09 Revenue 742 855 941 Cost of goods sold (619) (607) (627) Gross profit 123 248 314 Research and development expenses (132) (118) (130) Selling, general and administrative

  26. Slide 26: Infineon Consolidated Statement of Financial Position (IFRS) (unaudited)

    Infineon Consolidated Statement of Financial Position (IFRS) (unaudited) in Euro million Sep 30, 09 Dec 31, 09 Assets Current assets: Cash and cash equivalents 1,414 1,589 Available-for-sale financial assets 93 89 Trade and other receivables 514 529 therein: Trade accounts receivables 449 403 Invent

  27. Slide 27: Infineon Consolidated Statements of Cash Flows (IFRS) (unaudited)

    Infineon Consolidated Statements of Cash Flows (IFRS) (unaudited) 3 months ended (€ millions) Dec 31, 08 Sep 30, 09 Dec 31, 09 Net income (loss) (404) 14 66 Less: net loss (income) from discontinued operations 285 10 (112) Adjustments to reconcile net loss to cash provided by (used in) operating act

  28. Slide 28: Financial Calendar and IR Contacts

    Financial Calendar and IR Contacts Financial Calendar IR Contacts „ Feb 11, 2010 Ulrich Pelzer Annual General Meeting, Corporate Vice President Munich Corporate Development & Investor Relations +49 89 234-26153 „ Feb 16, 2010 ulrich.pelzer@infineon.com Presentation at Mobile World Congress, Barcelon

  29. Slide 29: Disclaimer

    Disclaimer This presentation was prepared as of January 29, 2010 and is current only as of that date. This presentation includes forward-looking statements about the future of Infineon’s business and the industry in which we operate. These include statements relating to general economic conditions,

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