Infineon Technologies Ag · XETR:IFX

Infineon Technologies — Q4 2019 Earnings Presentation

71 slides from Infineon Technologies's earnings presentation, Nov 12, 2019

Slide 1: Fourth Quarter FY 2019 Quarterly Update
Fourth Quarter FY 2019 Quarterly Update Infineon Technologies AG Investor Relations
Slide 2: Agenda
Agenda 1 Infineon at a glance 2 Planned acquisition of Cypress 3 Quarterly highlights 4 Automotive 5 Industrial Power Control 6 Power Management & Multimarket 7 Digital Security Solutions 8 Selected financial figures 2019-11-12 Copyright © Infineon Technologies AG 2019. All rights reserved. 2
Slide 3: Infineon at a glance
Infineon at a glance FY19 revenues by segment FY19 revenues by product category Digital Security [EUR m] 3,503 Solutions (DSS) 8% 2,445 Power Manage- Automotive 1,418 ment & Multi- (ATV) market (PMM) 30% 44% 642 ATV IPC PMM DSS 18% Industrial Power Power embedded control RF & Sensors Control (IPC) R
Slide 4: Infineon is a long-standing member of Europe's leading sustainability indices
Infineon is a long-standing member of Europe's leading sustainability indices Infineon's most recent achievements › Feb 2019: Infineon is listed in › Sep 2019: Infineon is listed in › Mar 2019: Sustainalytics the Sustainability Yearbook the DJS Index for the 10th rated Infineon as an Out- for the 9t
Slide 5: Our strategy is targeted at value creation through sustainable organic growth
Our strategy is targeted at value creation through sustainable organic growth Focus Technology leadership System understanding › Focus on fastest growing › Leverage core competencies › Create value for customers segments of semi market in different end markets to through system under- › Tackle globa
Slide 6: Well diversified exposure to end-markets and applications provide resilient growth model
Well diversified exposure to end-markets and applications provide resilient growth model FY19 revenue of €8,029m by target application embedded security solutions (3%) smart card solutions (5%) powertrain excl. xEV (12%) other PMM (3%) xEV 7% industrial (11%) DSS 8% communications (1%) safety excl.
Slide 7: Tight customer relationships, based on system know-how and application understanding
Tight customer relationships, based on system know- how and application understanding ATV IPC PMM DSS EMS partners Distribution partners 2019-11-12 Copyright © Infineon Technologies AG 2019. All rights reserved. 7
Slide 8: Infineon gained market share in all target markets
Infineon gained market share in all target markets Automotive Power discretes semiconductors and modules Security ICs total market in 2018: $37.7bn total market in 2018: $21.0bn total market in 2018: $3.2bn NXP 12.0% Infineon 19.9% (+1.2-pt) NXP 24.8% Infineon 11.2% (+0.4-pt) ON Semi 8.9% Renesas 8.
Slide 9: Outlook for Q1 FY20 and FY20
Outlook for Q1 FY20 and FY20 Outlook Q1 FY20* Outlook FY20* (compared to Q4 FY19) Decline of 7% increase of 5% Revenue +/- 2%-points +/- 2%-points Segment At the mid-point of the At the mid-point of the revenue guidance: revenue guidance: Result Margin ~13% ~16% Investments in FY20 ~€1.3bn** D&A in
Slide 10: Agenda
Agenda 1 Infineon at a glance 2 Planned acquisition of Cypress 3 Quarterly highlights 4 Automotive 5 Industrial Power Control 6 Power Management & Multimarket 7 Digital Security Solutions 8 Selected financial figures 2019-11-12 Copyright © Infineon Technologies AG 2019. All rights reserved. 10
Slide 11: The deal shapes a portfolio that perfectly links the real and the digital world
The deal shapes a portfolio that perfectly links the real and the digital world Battery-powered Industrial devices IoT Consumer IoT Connectivity Drives Software Digital Ecosystem world Power supplies SENSE = Sensors Legend COMPUTE = Microcontrollers Infineon Cypress 5G ACTUATE = Power Semis Automoti
Slide 12: Infineon and Cypress can together offer full system solutions
Infineon and Cypress can together offer full system solutions Example: air-conditioning What makes system solution Indoor Unit Outdoor Unit attractive to customers? UART › Ease of design -> combined Connectivity MCU MCU portfolio covers all relevant WIFI / Dual Motor + PFC Bluetooth Connect system c
Slide 13: Infineon and Cypress portfolios complement each other covering entire range of auto applications
Infineon and Cypress portfolios complement each other covering entire range of auto applications Full coverage of all application fields within automotive Benefits of combination Body Cluster/ Chassis Powertrain ADAS Infotainment Creating the #1 auto semi vendor Connectivity Complementary MCU NOR Fl
Slide 14: Further improvement of through-cycle Target Operating Model
Further improvement of through-cycle Target Operating Model Current Integrated (as announced at CMD 2018) company* Revenue growth 9% 9%+ Segment result margin 17%+ 19% Investment-to-sales 15% 13% * Infineon financial performance to approach new targets as integration progresses 2019-11-12 Copyright
Slide 15: Financing: Major steps already accomplished
Financing: Major steps already accomplished STEP 1 Underwriting of full acquisition amount by 3 banks  STEP 2 Confirmation of investment grade rating by Standard & Poor's  STEP 3 Equity de-risking: Raise of €1.5bn via ABB  STEP 4 Successful syndication of acquisition facility to 20 national and i
Slide 16: Agenda
Agenda 1 Infineon at a glance 2 Planned acquisition of Cypress 3 Quarterly highlights 4 Automotive 5 Industrial Power Control 6 Power Management & Multimarket 7 Digital Security Solutions 8 Selected financial figures 2019-11-12 Copyright © Infineon Technologies AG 2019. All rights reserved. 16
Slide 17: Infineon and Nichia to build high-definition micro-LED matrix solution for adaptive driving beams
Infineon and Nichia to build high-definition micro-LED matrix solution for adaptive driving beams Nichia and Infineon develop a Examples of applications high-definition (HD) light engine › 16K µLEDs for front light › new driver IC control and project markings on the road applications diagnose all 16
Slide 18: AURIX 2G selected by North American tier-1 for ADAS/AD multi-functional platform
AURIX™ 2G selected by North American tier-1 for ADAS/AD multi-functional platform Key applications of ADAS/AD multi-functional platform OEM’s from major regions powered by AURIX™ 2G awarding this platform sensor fusion front camera domain controller system driver monitoring gateway system system bod
Slide 19: Infineon's SiC business so far dominated by industrial; design-in momentum clearly on automotive
Infineon’s SiC business so far dominated by industrial; design-in momentum clearly on automotive Strong growth in SiC business; very Cumulated SiC design-ins of ~€1.8bn* balanced product and customer portfolio [EUR m] CAGR(FY17-FY20): ~50% 60% – 80% automotive industrial › automotive: diodes, MOSFET
Slide 20: Smartphone Google Pixel first mobile device to integrate Infineon XENSIV 60 GHz radar IC
Smartphone Google Pixel 4 first mobile device to integrate Infineon XENSIV™ 60 GHz radar IC The XENSIV™ 60 GHz radar IC can track sub-millimeter motions enabling: › gesture sensing › tiniest motions › sensing the presence and movement of people and objects with high precision › measuring distances a
Slide 21: Automotive
Automotive
Slide 22: Infineon's position in the automotive semiconductor universe
Infineon's position in the automotive semiconductor universe Automotive semiconductors total market in 2018: $37.7bn NXP 12.0% Market share trend: Infineon Infineon 11.2% +0.4%-pt benefits disproportionately from the two mega trends Renesas 8.9% › electro-mobility: power, drivers, µC TI 8.2% › autom
Slide 24: xEV growth driven by EU emission regulation; CO2 reduction of 37.5% by 2030 vs 2021
xEV growth driven by EU emission regulation; CO2 reduction of 37.5% by 2030 vs 2021 CO2 emission development and regulations for main regions 200 Japan 2020: US 2020: CO2 emission values [g/km], normalized to NEDC 122 g CO2/km* 125 g CO2/km 150 No CO2 reduction since 2016! Necessity for significant
Slide 25: The incremental demand of power semiconductors is a significant opportunity
The incremental demand of power semiconductors is a significant opportunity 2019 average xEV semiconductor content by degree of electrification 48 V / MHEV FHEV / PHEV BEV $29 $785 $37 $775 $305 $350 $90 $0 $531 $19 $19 $62 $5 $62 $14 $14 $19 $355 $355 $355 $0 xEV Power** xEV others** Non PT* xEV µC
Slide 27: Vision Zero – AD requires failure-tolerant availability of the system in the environment
Vision Zero – AD requires failure-tolerant availability of the system in the environment, “better than a human” A failure-tolerant system with high availability relies on dependable key functionalities Driver Sense Interpret & decide Act Dependable Sensors Dependable Computing Dep. Actuators Camera
Slide 28: Increased sensor requirements drive the content in the next five years and beyond
Increased sensor requirements drive the content in the next five years and beyond More sensors required for any next level of automation NCAP 5 Star, AD L2 AD L2+/L3 AD L4/L5 Automatic emergency brake/ forward collision warning Application* Parking assist Valet parking Lane keep assist Highway assis
Slide 29: ADAS/AD semi growth driven by radar and camera sensor modules over the next 5 years
ADAS/AD semi growth driven by radar and camera sensor modules over the next 5 years Average semiconductor content per car by level of automation at the given years NCAP 5 Star/AD L2 AD L2+ AD L3 AD L4/L5 L2 vehicles in 2020: ~6m L2+ in 2022: ~1m L3 in 2025: ~1.5m L4/L5 vehicles in 2030: ~4m L2+ in 2
Slide 31: Infineon's portfolio covers the entire range of power and frequency
Infineon's portfolio covers the entire range of power and frequency What is a power switch? How are power switches categorized? 10 MW When turned on power  current flows = When turned off 1 MW  current is blocked IGBT Module What counts? 100 kW › Losses in on-state (R(DS)on) SiC › Heat dissipation
Slide 32: Infineon's discrete power portfolio is basically separated by voltage classes
Infineon's discrete power portfolio* is basically separated by voltage classes Silicon-based power switches Compound semiconductors 6,500 V IPC territory 4,500 V SiC MOSFET IGBT 3,300 V (CoolSiC™) modules roadmap 1,700 V discrete IGBTs 1,200 V SiC MOSFET today IGBTs high-voltage MOSFETs 900 V (discr
Slide 33: Three strategic levers to outgrow the power semi market: core – adjacent – new
Three strategic levers to outgrow the power semi market: "core – adjacent – new"  Adjacent  Core Controller Gate driver switch application translates e.g. motion triggers low-power signal signal into control, power appropriate conversion gate input  Grow in adjacent fields  Strengthen core › Inv
Slide 34: Four key success factors: Infineon well positioned to defend its leadership in power semis also in SiC
Four key success factors: Infineon well positioned to defend its leadership in power semis also in SiC 1.) Substrate 2.) Device 3.) Module 4.) System planar trench Source Gate Source Gate G p+ n+ n+ p+ n+ n+ p p p G p+ p+ n n n+ n+ Courtesy: Kaco and pv magazine Drain Drain 2008 2011 2016 2018 100 k
Slide 35: Industrial Power Control
Industrial Power Control infineon
Slide 36: Clear leader in discrete IGBTs and IGBT modules; IPMs strengthened maintaining #3
Clear leader in discrete IGBTs and IGBT modules; IPMs strengthened maintaining #3 Discrete IGBTs IPMs IGBT modules*** total market in 2018: $1.31bn total market in 2018: $1.68bn total market in 2018: $3.25bn Infineon 37.4% (+ 0.7-pt) Mitsubishi 32.3% Infineon 34.5% (+1.7-pt) ON Semi 9.6% ON Semi 18.
Slide 37: Due to the extensive power module portfolio Infineon can address the whole range of drives applications
Due to the extensive power module portfolio Infineon can address the whole range of drives applications Servo drives Low-power drives* Mid- and high-power drives 370 W 75 kW 370 W 500 kW 500 kW 10 MW › high positioning accuracy › performance and reliability › safety Requirements › fast response with
Slide 38: Infineon is a key player in the PV market providing solutions to the leading inverter manufacturers
Infineon is a key player in the PV market providing solutions to the leading inverter manufacturers Infineon is present at top-10* Global installed PV capacity1 inverter manufacturers (2018)2 China CAGR(18-23): 9%  [GW] Rest of World 1 | Huawei 160 2 | Sungrow  3 | SMA  50.5 CAGR(18-23): 2% 4 | P
Slide 39: Infineon is the leading power semiconductor supplier for the wind turbine industry
Infineon is the leading power semiconductor supplier for the wind turbine industry Infineon is present at top-10* wind Global installed wind capacity1 turbine manufacturers (2018)2 China CAGR(18-23): 6% [GW] Rest of World 1 | Vestas  67.5 2 | Goldwind  3 | Siemens Gamesa  50.2 CAGR(18-23): 5% 26.
Slide 40: What comes next? Mid- to long-term structural growth opportunities
What comes next? Mid- to long-term structural growth opportunities Core Adjacent New area Courtesy: Shakti pumps Courtesy: Alstom new material solar pumps fuel cell Courtesy: Courtesy: McKinsey Siemens AG EV charging energy storage eMarine Courtesy: Lilium GmbH collaborative robots eDelivery vehicle
Slide 41: Power Management & Multimarket
Power Management & Multimarket
Slide 42: PMM's growth is built on many applications from different sectors in power and non-power
PMM's growth is built on many applications from different sectors in power and non-power Computing Industrial Consumer / Misc Communications › data center › power supplies › eBikes, eScooter › smartphones › PC, notebook › EV on-board charger › multicopter › mobile devices › peripherals › PV inverter
Slide 44: Infineon is the clear leader in MOSFETs; growth potential in power ICs
Infineon is the clear leader in MOSFETs; growth potential in power ICs Discrete Power MOSFET market Power IC market total market in 2018: $7.58bn total market in 2018: $25.62bn Infineon 27.7% (+0.7%-pt) TI 15.9% ON Semi 13.1% Infineon 8.3% (+0.8%-pt) STMicro 8.0% Qualcomm 7.3% Toshiba 7.0% ADI 7.1%
Slide 45: Technology leadership in MOSFETs and digital power: highest efficiency and power density
Technology leadership in MOSFETs and digital power: highest efficiency and power density Adjacent Core Controller Driver IC MOSFET triggers low-power translates signal into high- signal to switch on current gate input switches on, current flows Power management solutions reduce TCO More efficient se
Slide 46: Four interrelated trends drive power semiconductor BoM in battery-powered applications
Four interrelated trends drive power semiconductor BoM in battery-powered applications Interrelated trends for battery-powered applications  From corded to From brushed DC  Trend towards higher power  New applications cordless power to brushless DC and higher battery voltage with trend towards t
Slide 47: Transition from 3G/4G to 5G drives demand in power semis for antennas and power supplies
Transition from 3G/4G to 5G drives demand in power semis for antennas and power supplies 5G base station New! Massive MIMO DC-DC (MOSFET, ICs) 5G mmWave antenna New! AC-DC, DC-DC (MOSFET, ICs) Cloud Computing AC-DC, DC-DC (MOSFET, ICs) New! Base station power supply AC-DC, DC-DC (MOSFET, ICs) Fog Co
Slide 48: What comes next? Mid- to long-term structural growth opportunities
What comes next? Mid- to long-term structural growth opportunities Core Adjacent New area Courtesy: Nissan 5G infrastructure on-board charger collaborative robots hyperscale AI data center power tools smart speaker new material home appliances class D audio 2019-11-12 Copyright © Infineon Technologi
Slide 50: RF and Sensing devices enable new services and will shape the way we live and work
RF and Sensing devices enable new services and will shape the way we live and work Various use cases are enabled by a small set of versatile core technologies Courtesy: BMW Augmented Reality Voice-controlled devices Gesture control Commercial and consumer multicopters Industrial robotics 2019-11-12
Slide 51: We focus on MEMS sensors and target to become the leader in 3D sensing and radar
We focus on MEMS sensors and target to become the leader in 3D sensing and radar Microphone Pressure Environmental 3D radar 3D ToF World Highest No Best-in-class Best-in-class smallest form energy distortions resolution resolution 6x6mm² factor efficiency Receive Measure clear audio Measure CO2 Biom
Slide 52: Digital Security Solutions
Digital Security Solutions Infineon
Slide 53: Continuous stream of new topics aging and exiting
Continuous stream of new topics aging and exiting maturity Emerging Growing Maturing Pay TV SIM Card  Smart card form factor  Embedded form factor Contact-based Payment TPM for Computing Government ID Embedded Secure Element (NFC) Transport Ticketing Authentication Contactless Payment eSIM for Aut
Slide 54: Infineon OPTIGA Trust M to improve the security and performance of connected devices
Infineon OPTIGA™ Trust M to improve the security and performance of connected devices New OPTIGA™ Trust M solution helps customers to enhance security of their devices › The single-chip solution securely stores unique device credentials and enables devices to connect to the cloud up to 10x faster th
Slide 55: Agenda
Agenda 1 Infineon at a glance 2 Planned acquisition of Cypress 3 Quarterly highlights 4 Automotive 5 Industrial Power Control 6 Power Management & Multimarket 7 Digital Security Solutions 8 Selected financial figures 2019-11-12 Copyright © Infineon Technologies AG 2019. All rights reserved. 55
Slide 56: Revenue growth despite challenging market environment
Revenue growth despite challenging market environment Revenue development [EUR m] +1% › Revenue up 2% q-q +2% › Segment Result slightly down 2,047 2,015 2,062 1,970 1,983 › Underutilization charges burden gross margin and segment result › Additional cost containment measures imposed 39.8% 39.5% 37.8
Slide 57: Q4 FY19 Division Performance
Q4 FY19 Division Performance ATV IPC PMM DSS [EUR m] [EUR m] [EUR m] [EUR m] +3% 888 893 -2% 867 846 875 651 639 617 591 598 +0% 361 352 347 357 362 -1 % 27.8 25.1 20.2 19.6 19.3 22.3 24.2 23.9 15.4 16.3 163 149 164 167 162 14.6 13.8 12.8 11.0 8.7 14.7 10.7 11.6 11.4 13.6 127 117 112 98 78 73 69 67
Slide 58: Adjusted RoCE clearly above WACC
Adjusted RoCE clearly above WACC RoCE and adjusted RoCE 30% 20% 10% 0% FY16 FY17 FY18 FY19 Q1 FY19 Q2 Q3 Q4 Adjusted RoCE (excluding PPA, Deferred Tax Effects, RF power sale, Cypress) RoCE 2019-11-12 Copyright © Infineon Technologies AG 2019. All rights reserved. 58
Slide 59: Earnings-per-share and total cash return
Earnings-per-share and total cash return Development of earnings-per-share (EPS) from continuing operations [EUR cent] 27 28 22 24 22 24 23 EPS basic 20 19 13 EPS adjusted Q4 Q1 FY19 Q2 Q3 Q4 Total cash return to shareholders [EUR m] 2,450 308 336 › Policy of sustainable 283 305 248 dividend payout
Slide 60: Stable opex development
Stable opex development Selling, General & Administration Research & Development* [EUR m] 243 236 236 230 227 222 223 218 214 212 165 157 159 157 157 12.0% 12.1% 11.9% 11.2% 11.1% 11.1% 10.9% 10.7% 10.6% 10.8% 62 61 55 57 63 Q4 Q1 FY19 Q2 Q3 Q4 Q4 Q1 FY19 Q2 Q3 Q4 General & Administration Selling R&
Slide 61: Inventories have peaked in Q3 FY19
Inventories have peaked in Q3 FY19 Working capital* Inventories [EUR m] [EUR m] [days] 1,706 1,758 1,701 1,452 1,475 1,511 1,591 1,480 979 712 120 124 124 115 108 Q4 Q1 FY19 Q2 Q3 Q4 Q4 Q1 FY19 Q2 Q3 Q4 Inventories DIO* Trade receivables Trade payables [EUR m] [days] [EUR m] [days] 1,181 1,190 1,128
Slide 62: Cycle management slows down investments
Cycle management slows down investments Investments* Depreciation & Amortization [EUR m] 1,451 1,254 ~1.3bn 1,022 ~1.0bn 945 ~60 833 861 87 785 826 812 760 140 103 129 114 18.1% 16.5% 15.4% 13.5% 14.5% 13.1% 12.8% 12.9% 11.5% 11.3% 11.8% 11.9% 646 693 683 758 858 ~940 FY15 FY16 FY17 FY18 FY19 FY20e
Slide 63: Healthy gross cash and net cash position
Healthy gross cash and net cash position Liquidity development [EUR m] 1,556 1,535 1,532 1,533 1,549 2,543 2,306 1,882 3,435 1,900 3,779 2,223 1,011 2223 773 333 Q4 Q1 Q2 Q3 Q4 FY19 Gross Cash Debt Net Cash › Q3 FY19: Includes the proceeds of €1.5bn resulting from the capital increase executed on 18
Slide 64: Infineon has a balanced maturity profile and an investment grade rating (BBB) from S&P
Infineon has a balanced maturity profile and an investment grade rating (BBB)* from S&P Maturity profile [EUR m; US$ m; nominal values] €500 $350 $350 $235 €171 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 Campeon 8-year 10-year 12-year final re- Eurobond USPP USPP USPP payment Mar 2022 Notes N
Slide 65: Part of your life. Part of tomorrow.
Cinfineon Part of your life. Part of tomorrow.
Slide 66: Glossary (1 of 2)
Glossary (1 of 2) AC alternating current eCall emergency call AC-DC alternating current - direct current ECU electronic control unit AD automated driving EPS electric power steering ADAS advanced driver assistance system eSIM embedded subscriber identity module AEB automatic emergency braking eSIM e
Slide 67: Glossary (2 of 2)
Glossary (2 of 2) IPM intelligent power module PV photovoltaic iPol image processing line RF radio frequency IRF International Rectifier rhs right-hand scale LSEV low-speed electric vehicle Si silicon LSPS LS Power Semitech Co. Ltd. SiC silicon carbide µC microcontroller SiGe silicon germanium MEMS
Slide 68: Disclaimer
Disclaimer Disclaimer This presentation contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group. These statements are based on assumptions and projections resting upon currently available information and present estimates. They are s
Slide 69: Financial calendar
Financial calendar Date Location Event 13 – 14 Nov 2019 Barcelona Morgan Stanley TMT Conference 20 Nov 2019 Frankfurt DZ Bank Equity Conference 25 Nov 2019 Munich UBS German Senior Investor Day 5 Feb 2020* Q1 FY20 Results 20 Feb 2020 Munich Annual General Meeting 24 – 26 Feb 2020 Barcelona Investor
Slide 70: Notes
Notes Investments = 'Purchase of property, plant and equipment' + 'Purchase of intangible assets and other assets' incl. capitalization of R&D expenses Capital Employed = 'Total assets' – 'Cash and cash equivalents' – 'Financial investments' – 'Assets classified as held for sale – ('Total Current li
Slide 71: Institutional Investor Relations contacts
Institutional Investor Relations contacts Alexander Foltin Corporate Vice President Finance, Treasury & Investor Relations +49 89 234-23766 alexander.foltin@infineon.com Joachim Binder Isabell Diel Senior Director Investor Relations Manager Investor Relations +49 89 234-25649 +49 89 234-38297 joachi

Infineon Technologies — Q4 2019 Earnings Presentation on 6ix

Infineon Technologies — Q4 2019 Earnings Presentation

Slide 1: Fourth Quarter FY 2019 Quarterly Update

Slide 2: Agenda

Slide 3: Infineon at a glance

Slide 4: Infineon is a long-standing member of Europe's leading sustainability indices

Slide 5: Our strategy is targeted at value creation through sustainable organic growth

Slide 6: Well diversified exposure to end-markets and applications provide resilient growth model

Slide 7: Tight customer relationships, based on system know-how and application understanding

Slide 8: Infineon gained market share in all target markets

Slide 9: Outlook for Q1 FY20 and FY20

Slide 10: Agenda

Slide 11: The deal shapes a portfolio that perfectly links the real and the digital world

Slide 12: Infineon and Cypress can together offer full system solutions

Slide 13: Infineon and Cypress portfolios complement each other covering entire range of auto applications

Slide 14: Further improvement of through-cycle Target Operating Model

Slide 15: Financing: Major steps already accomplished

Slide 16: Agenda

Slide 17: Infineon and Nichia to build high-definition micro-LED matrix solution for adaptive driving beams

Slide 18: AURIX 2G selected by North American tier-1 for ADAS/AD multi-functional platform

Slide 19: Infineon's SiC business so far dominated by industrial; design-in momentum clearly on automotive

Slide 20: Smartphone Google Pixel first mobile device to integrate Infineon XENSIV 60 GHz radar IC

Slide 21: Automotive

Slide 22: Infineon's position in the automotive semiconductor universe

Slide 23: Electro-mobility

Slide 24: xEV growth driven by EU emission regulation; CO2 reduction of 37.5% by 2030 vs 2021

Slide 25: The incremental demand of power semiconductors is a significant opportunity

Slide 26: Automated Driving

Slide 27: Vision Zero – AD requires failure-tolerant availability of the system in the environment

Slide 28: Increased sensor requirements drive the content in the next five years and beyond

Slide 29: ADAS/AD semi growth driven by radar and camera sensor modules over the next 5 years

Slide 30: Infineon's Power Strategy

Slide 31: Infineon's portfolio covers the entire range of power and frequency

Slide 32: Infineon's discrete power portfolio is basically separated by voltage classes

Slide 33: Three strategic levers to outgrow the power semi market: core – adjacent – new

Slide 34: Four key success factors: Infineon well positioned to defend its leadership in power semis also in SiC

Slide 35: Industrial Power Control

Slide 36: Clear leader in discrete IGBTs and IGBT modules; IPMs strengthened maintaining #3

Slide 37: Due to the extensive power module portfolio Infineon can address the whole range of drives applications

Slide 38: Infineon is a key player in the PV market providing solutions to the leading inverter manufacturers

Slide 39: Infineon is the leading power semiconductor supplier for the wind turbine industry

Slide 40: What comes next? Mid- to long-term structural growth opportunities

Slide 41: Power Management & Multimarket

Slide 42: PMM's growth is built on many applications from different sectors in power and non-power

Slide 43: PMM – Power

Slide 44: Infineon is the clear leader in MOSFETs; growth potential in power ICs

Slide 45: Technology leadership in MOSFETs and digital power: highest efficiency and power density

Slide 46: Four interrelated trends drive power semiconductor BoM in battery-powered applications

Slide 47: Transition from 3G/4G to 5G drives demand in power semis for antennas and power supplies

Slide 48: What comes next? Mid- to long-term structural growth opportunities

Slide 49: PMM – RF and Sensing

Slide 50: RF and Sensing devices enable new services and will shape the way we live and work

Slide 51: We focus on MEMS sensors and target to become the leader in 3D sensing and radar

Slide 52: Digital Security Solutions

Slide 53: Continuous stream of new topics aging and exiting

Slide 54: Infineon OPTIGA Trust M to improve the security and performance of connected devices

Slide 55: Agenda

Slide 56: Revenue growth despite challenging market environment

Slide 57: Q4 FY19 Division Performance

Slide 58: Adjusted RoCE clearly above WACC

Slide 59: Earnings-per-share and total cash return

Slide 60: Stable opex development

Slide 61: Inventories have peaked in Q3 FY19

Slide 62: Cycle management slows down investments

Slide 63: Healthy gross cash and net cash position

Slide 64: Infineon has a balanced maturity profile and an investment grade rating (BBB) from S&P

Slide 65: Part of your life. Part of tomorrow.

Slide 66: Glossary (1 of 2)

Slide 67: Glossary (2 of 2)

Slide 68: Disclaimer

Slide 69: Financial calendar

Slide 70: Notes

Slide 71: Institutional Investor Relations contacts