Infineon Technologies Ag · XETR:IFX
Infineon Technologies — Q3 FY2021 Earnings Presentation
93 slides from Infineon Technologies's earnings presentation, Aug 3, 2021
Slide 1: Third Quarter FY 2021 Quarterly Update
Third Quarter FY 2021 Quarterly Update Infineon Technologies AG Investor Relations 1
Slide 2: Infineon at a glance
Infineon at a glance Addressing long-term high-growth trends Illustrative aggregated FY20 revenue by segment › IoT (edge comp., data center, 5G, sensing, connectivity) 14% Automotive (ATV) › electro-mobility Industrial Power Control (IPC) 43% › assisted driving, autonomous driving Power & Sensor Sys
Slide 3: Illustrative aggregated FY20 revenue by target application
Illustrative aggregated FY20 revenue including contribution from Cypress of ~€1,900m from 1 Oct 2019 through 30 Sep 2020 Illustrative aggregated FY20 revenue of ~€9,600m by target application industrial and consumer IoT; 10% powertrain ICE; 8% xEV (incl. MHEV); 5% payment, identification, ticketing;
Slide 4: Global top-10 player, #1 in power semiconductors
Infineon is a global top-10 player, #1 in power semiconductors, and ranked #3 in the overall microcontroller market Semiconductor suppliers Power discretes and modules MCU suppliers 2020 total market: $473bn1) 2019 total market: $21.0bn2) 2020 total market: $17.3bn1) Intel 16.1% Infineon 19.0% Renes
Slide 5: Unique portfolio linking the real and the digital world
Infineon offers a unique portfolio that links the real and the digital world Coin cell-powered devices Battery-powered devices Power supplies Information and data Industrial IoT about the real world Drives Connectivity Real-world Software Digital Smart Home Ecosystem applications world Smart City Co
Slide 6: Outlook for Q4 FY21 and FY21
Outlook for Q4 FY21 and FY21 Outlook Q4 FY21* Outlook FY21* Revenue ~ €2.9bn ~ €11.0bn Segment Result Margin ~ 19% > 18% Investments in FY21 ~ €1.6bn D&A in FY21 €1.5bn – €1.6bn** Free cash flow in FY21 ~ €1.5bn (prev.: > € 1.2bn) * Based on an assumed average exchange rate of $1.20 for €1.00 ** Inc
Slide 7: Reaping of synergies on track
Reaping of synergies on track Planned ramp-up of cost synergies Planned ramp-up of revenue synergies €180m €1.5bn P2S for G&A long-term revenue synergies €1bn S&M Near-term R&D revenue synergies: improved customer access, COGS cross-selling opportunities end FY20 mid FY21e mid FY22e mid FY23e* FY22e
Slide 8: Through-cycle target operating model
Infineon’s through-cycle target operating model Target Operating Model Infineon financial performance to approach targets as Cypress integration progresses Revenue growth 9%+ Segment Result Margin 19% Investment-to-sales 13% 2021-08-03 Copyright © Infineon Technologies AG 2021. All rights reserved.
Slide 9: ESG: targets and achievements
ESG: targets and achievements 9
Slide 10: Products and innovations key to dealing with climate change
Our products and innovations together with an efficient production are key elements to deal with climate change We contribute a CO2 reduction of more than 54 million tons * * The increase in the burden of CO2 equivalents can mainly be explained by including manufacturing service providers for the fi
Slide 11: Infineon will become carbon-neutral by 2030
Infineon will become carbon-neutral by 2030 70% CO2 emissions reduction target in 2025 (scope 1 and 2 emissions) 1. Avoiding direct emissions and further reducing energy consumption 2. Purchasing green electricity with guarantees of origin for unavoidable emissions 3. Compensate the smallest part by
Slide 12: External recognitions confirm our engagement in sustainability
External recognitions confirm our engagement in contributing to a sustainable society Rating/Score Scale Date CCC to MSCI ESG AA 02/2021 AAA B climate scoring CDP F to A 12/2020 B water scoring Ecovadis 98th percentile “Gold” award 0 to 100 11/2020 81 Dow Jones Sustain- Dow Jones Sustainability Inde
Slide 13: Automotive
Automotive Infineon
Slide 14: ATV at a glance
ATV at a glance ATV revenue and Segment Result Margin FY20 revenue split by product group [EUR m] memories CAGR(FY16-FY20): 7.5% MCUs 4.000 3.284 3.503 3.542 25% 3.500 2.989 2.369 3.000 2.656 2.500 15% 2.000 16% 14% 14% 16% 1.500 12% 5% 1.000 500 4% sensors 0 -5% FY16 FY17 FY18 FY19 FY20 H1 FY21 pow
Slide 15: Market outlook for ATV division's target applications
Market outlook for ATV division’s target applications Applications Market Outlook for CY21 Market Outlook for CY22 › CY21 market recovery hindered by semiconductor › Gradual easing of semiconductor shortages is expected shortages as well as new COVID-19 outbreaks › Uncertainties around COVID-19 pand
Slide 16: Top market position built on system competence
Infineon’s top market position is built on system competence based on an industry-leading product portfolio Automotive semiconductors (2020 total market: $35.0bn) › Strengthened #1 position; increasing distance to #2 Infineon 13.2% › #1 in power semiconductors NXP 10.9% › Undisputed #1 in automotive
Slide 17: Electro-mobility
Electro-mobility Infineon
Slide 18: xEV sales more than doubled y-y in H1 CY21
During H1 CY21, xEV (PHEV + BEV) sales more than doubled y-y in all regions; market figures indicate no slow down of e-mobility boom +166% +155% +156% +195% [units k] 2,630 991 1,063 1,142 285 414 387 112 Jun 20 Jun 21 Jun 20 Jun 21 Jun 20 Jun 21 Jun 20 Jun 21 YTD YTD YTD YTD YTD YTD YTD YTD Source:
Slide 19: Governments and OEMs indicated when to ban the ICE
The road to emission-free cruising: Governments and OEMs indicated when to ban the ICE / Government regulations 2050: Spain, cities with > 50,000 inhabitants: no ICE on the street. 2035: › EU: all new cars zero-emission. 2040: Spain, cities with › China: public transport vehicles to be fully electri
Slide 20: Incremental power semiconductor content in xEV
The incremental content of power semiconductors in xEV is a significant opportunity for Infineon 2020 average xEV semiconductor content by degree of electrification 48 V / Mild Hybrids Full & Plug-in Hybrids and Battery Electric Vehicles $32 $834 $330 $90 $0 $572 $61 $7 $17 $14 $23 $396 $396 $38 Non
Slide 21: Automated Driving
Automated Driving Cinfineon
Slide 22: Radar/Lidar modules and sensor fusion in ADAS/AD cars
Radar/Lidar modules and sensor fusion will grab the lion’s share of semiconductor BoM in ADAS/AD-equipped cars Incremental average semiconductor content per car by level of automation at the given years Level 2 Level 2+ Level 4/L5 L2 vehicles in 2020: ~5m L2+ in 2025: ~2.5m L4/L5 vehicles in 2030: ~
Slide 23: AURIX µC family first-choice automotive architecture
The Infineon AURIX™ µC family has become the first-choice auto- motive architecture for high-growth and safety-critical applications Infineon AURIX™ revenue development over time FY10 FY20 FY25e CAGR(FY10-FY25)= 5.7% CAGR(FY20-FY25)= 34% [indexed: FY10 = 100] TAM: TAM: €1.6bn €4.8bn CAGR(FY20-FY25)=
Slide 24: Design-win at an Asian OEM in an EV platform
Design-win at an Asian OEM: Infineon semiconductors worth more than €500 in an upper mid-range EV platform with SAE L2 automation Category Major products Main applications (comprising 14x AURIX™ ) ADAS remote sensor mid-range parking front camera vehicle fusion radar system assistance integrated ful
Slide 25: Infineon's Power Strategy
Infineon's Power Strategy 25
Slide 26: 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 = 1 MW When turned off IGBT current is blocked SiC Module Module 100 kW What counts? › Losses in on-state (R(DS)on) 10 kW › Hea
Slide 27: Overview of discrete and module power semiconductor portfolio
Overview of Infineon’s discrete and module power semiconductor portfolio* Silicon-based power switches Compound semiconductors ATV IPC PSS 6,500 V 4,500 V CoolSiC™ roadmap IGBT 3,300 V modules 1,700 V 1,200 V IGBT SiC MOSFET today IGBT (discretes, modules) discretes (CoolSiC™) 900 V high-voltage MOS
Slide 28: SiC revenue forecast increased
SiC revenue forecast increased: now doubling in FY21 – more than half of the incremental growth contributed by automotive Industrial and automotive applications driving the growth [EUR m] CAGR(FY17-FY21e): ~55% 200 ~100% 150 100 ~200 different CoolSiC™ products 50 ~3,000 total active customers inclu
Slide 29: CoolSiC portfolio expansion by packages and voltages
Strong CoolSiC™ portfolio expansion: by packages and by voltages Broadest and best-in-class SiC portfolio Industrial Automotive grade CoolSiC™ CoolSiC™ CoolSiC™ CoolSiC™ CoolSiC™ CoolSiC™ Hybrid Diode MOSFET Diode Hybrid MOSFET Discrete Discrete Module Discrete IPM Module Discrete Discrete Discrete
Slide 30: Traditional wire sawing wastes ~3/4 of the raw material
Traditional wire sawing wastes ~3/4 of the raw material Current status of SiC device manufacturing Phase 1: boule splitting in volume prod. starting FY22 The supplier cuts the boule into 350 µm thick wafers thereby losing almost half of We source boules and use our splitting technology to cut it int
Slide 31: Wafer twinning and advanced boule splitting quadruple output
Boule splitting plus wafer twinning or advanced boule splitting quadruples output out of a given boule Phase 2: wafer twinning Phase 3: advanced boule splitting The starting material are either wafer from the phase 1 boule splitting The advanced boule splitting results in thin wafers that can be pro
Slide 32: Second generation CoolSiC Trench MOSFET
Second generation (2nd Gen.) CoolSiC™ Trench MOSFET will increase the addressable market 1st Gen. with lowest losses is the leading technology today 2nd Gen. will expand the lead 9 B Gen 2 Planar C Gen 1 Planar › 2nd Gen. CoolSiC™ Trench FoM = RDS(on)*Qg [Ω*nC] 8 MOSFET is in advanced D Gen 1 Planar
Slide 33: Industrial Power Control
Industrial Power Control Cinfineon
Slide 34: IPC at a glance
IPC at a glance IPC revenue and Segment Result Margin FY20 revenue split by product group [EUR m] CAGR(FY16-FY20): 7.0% SiC discrete IGBTs 1.600 1.323 1.418 1.406 25% 1.400 1.206 723 1.200 1.072 19% 15% driver ICs 1.000 18% 18% 17% IGBT modules 800 15% 600 12% 5% 400 IPMs 200 0 -5% FY16 FY17 FY18 FY
Slide 35: Market outlook for IPC division's target applications
Market outlook for IPC division’s target applications Applications Market Outlook for CY21 Market Outlook for CY22 (% of FY20 segment revenue) Automation and Drives › Industrial Drives recovering in high single digits with › Recovery expected to last well into FY22 due to demand ~30% demand growing
Slide 36: Clear leader in discrete IGBTs and IGBT modules
Clear leader in discrete IGBTs and IGBT modules; fostering position in IPMs Discrete IGBTs IPMs IGBT modules1) 2019 total market: $1.44bn 2019 total market: $1.59bn 2019 total market: $3.31bn Infineon 32.5% Mitsubishi 32.7% Infineon 35.6% Fuji Electric 11.7% ON Semi 17.9% Mitsubishi 11.9% ON Semi 7.
Slide 37: Infineon serves all renewable energy applications
Infineon serves all applications in the field of renewable energy Onshore Offshore HVDC** › Application: Full Converter & Partial/DFIG* › Application: Full Converter based wind turbine › Application: HVDC - VSC converter based wind turbine › Output: 3 MW – 14 MW › Output: 100 MW – 4 GW › Output: 1 M
Slide 38: #1 semiconductor enabler of renewable energies
We are the #1 semiconductor enabler of renewable energies Average annual solar PV and wind capacity additions* All leading renewable energy players are our customers* Solar PV Wind PV inverter Wind 300 1 | Huawei 1 | Siemens/Gamesa 250 2 | Sungrow 2 | Vestas 3 | SMA 3 | Goldwind GW 200 1
Slide 39: Energy storage essential for renewable generation
Energy storage is essential to further deploy decentral and renewable energy generation Battery storage capacity and share of variable renewables1) Key drivers 40 › Decentralization of power 2030 generation Battery storage capacity (GW) European Union 2025 30 India › Peak shaving of energy China 202
Slide 40: Mid- to long-term structural growth opportunities
What comes next? Mid- to long-term structural growth opportunities Core Adjacent New area Courtesy: Courtesy: Alstom Shakti pumps new material solar pumps fuel cell Courtesy: Siemens AG Courtesy: McKinsey EV charging energy storage eMarine Courtesy: Lilium GmbH collaborative robots eDelivery vehicle
Slide 41: Power & Sensor Systems
infineon Power & Sensor Systems
Slide 42: PSS at a glance
PSS at a glance PSS revenue and Segment Result Margin FY20 revenue split by product group [EUR m] other (incl. HiRel) CAGR(FY16-FY20): 6.7% 2.800 2.650 40% 2.318 2.445 MOSFETs 2.300 2.041 2.148 (incl. SiC, GaN) 30% 1.800 23% 24% 24% 1.566 17% 20% 1.300 24% 20% RF & sensors 800 10% 300 -200 0% FY16 F
Slide 43: Market outlook for PSS division's target applications
Market outlook for PSS division’s target applications Applications Market Outlook for H2 CY21 Market Outlook for CY22 (% of FY20 segment revenue)* Computing › Structural drivers expected to stay in cloud computing and › Acceleration towards cloud computing to continue good momentum for enterprise se
Slide 44: PSS growth built on many applications
PSS's growth is built on many applications from different sectors in power and non-power Computing Communications Smartphones Consumer Industrial › data center › base stations › smartphones › eBikes, eScooter › power supplies › enterprise server › backhaul cellular › mobile devices › multicopter › E
Slide 45: PSS – Power
PSS — Power Cinfineon
Slide 46: Clear leader in MOSFETs; growth potential in power ICs
Infineon is the clear leader in MOSFETs; growth potential in power ICs Discrete Power MOSFETs Power ICs 2019 total market: $8.10bn 2019 total market: $24.4bn Infineon 24.6% Texas Instruments 16.0% ON Semi 12.8% Infineon 7.7% STMicro 9.5% Analog Devices 7.2% Toshiba 7.3% Qualcomm 6.3% Renesas* 5.6% S
Slide 47: Transition to 5G drives demand in power semis
Transition from 3G/4G to 5G drives demand in power semis for antennas and power supplies 5G base station › driver #1: massive growth of data and computing power Massive MIMO DC-DC (MOSFET, ICs) › driver #2: higher number of base stations due to dense network › driver #3: ~4x higher power semi Base s
Slide 48: Well positioned for conversion to USB Type-C
Infineon is well positioned to benefit from the conversion to the de-facto standard USB Type-C USB Type-C becomes de-facto interface form factor Infineon USB business split by appl. [FY20] Smartphone & Others tablet Automotive Network & PC, storage monitor, Near-term printer revenue Cables & dongles
Slide 49: Leading-edge DC-DC power conversion for acceleration boards
Infineon provides leading-edge DC-DC power conversion for high- performance acceleration boards Next-generation accelerator boards are driving the need for ultra-high density and robust power conversion solutions › Exponential increase in compute power driven by AI training and high-performance comp
Slide 50: Semiconductor content in eScooters
e-mobility beyond cars: Infineon covers the vast majority of semi- conductor content in eScooters Application in eScooters Power semis Control & connect Sensors Security › current sensor › protection FET › battery battery management system › PSoC™ MCU › pressure sensor › cell balancing IC authentica
Slide 51: Mid- to long-term structural growth opportunities
What comes next? Mid- to long-term structural growth opportunities Core Adjacent New area 5G infrastructure smart building smart speaker hyperscale AI data center wireless charging health & lifestyle new material on-board charger environmental sensor solutions 2021-08-03 Copyright © Infineon Technol
Slide 52: PSS – RF and Sensing
N NN PSS — RF and Sensing Infineon
Slide 53: Main applications addressed by PSS sensors portfolio
Main applications addressed by PSS sensors portfolio MEMS microphone 3D radar (24/60 GHz) 3D ToF image sensor Environmental High Ultra-low Best audio Best price / precision and power performance performance Small form consumption 14.0 x 13.6 x 7.5 mm³ factor Presence Face ID Low power detection/ (bi
Slide 54: Sensor markets targeted by PSS offer attractive growth
Sensor markets targeted by PSS offer attractive growth potential MEMS microphone market Radar IC market (24 GHz and 60 GHz only) [EUR m] [EUR m] 1,841 1,920 601 1,494 1,641 1,251 467 347 219 154 FY FY 2021 2021 2022 2023 2024 2025 2022 2023 2024 2025 Source: Infineon estimates Source: Infineon estim
Slide 55: XENSIV MEMS microphones made Infineon #1
Unparalleled audio characteristics of our XENSIV™ MEMS micro- phones made Infineon #1 in 2019 with further m/s gain in 2020 Infineon’s market share development in MEMS microphones (by units) 44.2% 2020 MEMS die market share 34.7% 33.5% 35.7% total market: 6.0bn units 26.5% Infineon 44.2% Knowles 38.
Slide 56: Radar use cases for presence detection and health monitoring
Radar offers several use cases for presence detection and health monitoring Presence detection Health monitoring › Room Occupancy Devices › Sleep monitoring e.g. human localization and counting Sleep detection, sleep quality, apnea & snoring detection (radar combined with MEMS microphone) › Occupanc
Slide 57: 3D ToF versatile for consumer applications
Infineon 3D ToF is a versatile technology for many consumer applications 3D Gestures Mobile Phones Payment Face ID Hand ID – User Facing 3D Scanning Virtual Retail AR Gaming Mobile Phones Bokeh – World Facing Consumer Navigation avoidance Last Mile Collision Robot Robotics AR Gaming Augmented- & Map
Slide 58: XENSIV PAS CO2 sensor
Infineon XENSIV™ PAS CO2 sensor enables highly-precise CO2 measuring in an extremely small size Photoacoustic spectroscopy (PAS) technology based on Infineon‘s high (SNR) signal-to-noise ratio MEMS microphone › Infineon XENSIV™ PAS CO2 sensor enables highly-precise, cost-effective and space saving C
Slide 59: System solution combining sensors, PSoC 6 MCU and connectivity
Infineon system solution addresses IoT market via combining XENSIV™ sensors, PSoC™ 6 MCU and connectivity Example offering: Combination of sensors, microcontrollers and Key facts connectivity in development kit › Infineon offers system solutions comprising of sensor, MCU, connectivity and software l
Slide 60: Connected Secure Systems
|| tT e & — infineon Connected Secure Systems
Slide 61: CSS at a glance
CSS at a glance CSS revenue and Segment Result Margin FY20 revenue split by product group [EUR m] CAGR(FY16-FY20): 7.9% MCUs 1.000 953 25% 703 708 800 664 664 642 15% 600 19% 18% security ICs 16% 400 12% 13% 11% 5% 200 0 -5% FY16 FY17 FY18 FY19 FY20 H1 FY21 connectivity CSS revenue CSS Segment Resul
Slide 62: Market outlook for CSS target applications
Market outlook for target applications remains positive but foundry supply constraints might limit growth potential in 2022 Applications Market Outlook for CY21 Market Outlook for CY22 (% of FY20 segment revenue) › Growth driven by general market recovery in industrial › Growth momentum in industria
Slide 63: Top player in security ICs, Wi-Fi standalone ICs
Infineon remains top player in its target markets: security ICs, Wi-Fi standalone ICs Security ICs (excl. NFC controller; excl. NFC eSE) Wi-Fi standalone ICs 2019 total market: $2.8bn 2019 total market: 978m units Infineon is focusing on wearables and IoT but not addressing routers, PCs, notebooks,
Slide 64: CSS empowers connection through smart and trusted solutions
CSS empowers the world to easily connect through smart and trusted solutions Industrial and Consumer IoT Payment, ID, Ticketing Industrial Automotive Smart Home Gaming Wearables Payment Identification Applications Compute Wireless Connectivity CSS capabilities Security Software 2021-08-03 Copyright
Slide 65: Capabilities address a growing IoT market
Compute, connectivity, security and software ecosystem capabilities enable Infineon to address a growing market driven by the IoT Infineon offers the entire system for IoT CSS market* [EUR bn] MCUs Connectivity Security Cloud CAGR +10% 14.9 sensors software and ecosystem power wireless connectivity
Slide 66: MCUs – Dynamic market environment
MCUs – Dynamic market environment; CSS is well set to tackle trends in IoT & Consumer as well as Industrial markets MCU market* Trends in MCU markets Segments and focus topics [EUR bn] Others CAGR Continued growth of MCUs Consumer in smart home, driven by IoT & Consumer Industrial home automation de
Slide 67: Wi-Fi – Market driven by dynamic specifications
Wi-Fi – Market driven by a dynamic environment of specifications; CSS is addressing main growth trends Wi-Fi market* Trends in Wi-Fi markets Segments and focus topics [EUR bn] IoT & Consumer CAGR Specially suited for IoT +13% devices with basic › Broad portfolio with Wi-Fi 4 / 5 / 6 standalone 4 con
Slide 68: Bluetooth – Market driven by further penetration
Bluetooth – Market driven by further penetration of Bluetooth use cases across devices; CSS focus topics enable this development Bluetooth (BT) market* Trends in Bluetooth markets Segments and focus topics [EUR bn] Continued growth in Smart Home › Focus on Mesh 1.1 and Mesh 2.0 (upcoming) CAGR smart
Slide 69: Security – Several long-term key trends
Security – Several long-term key trends driving value, generating emerging opportunities, shaping CSS’ focus in the security field Security ICs market* Trends in security ICs market CSS focus Segments [EUR bn] Emerging Proliferation of Innovation leadership Payment Maturing Contactless, smart wearab
Slide 70: Synergy potential of a combined product portfolio
Significant synergy potential of a combined company product portfolio CSS offering Other Infineon Divisions offering Synergies application examples Smart speaker Smart lighting Service robots Connectivity Connectivity Connectivity Wi-Fi / Bluetooth Combo Wi-Fi / Bluetooth Combo Wi-Fi / Bluetooth Com
Slide 71: New AIROC Wi-Fi 6/6E and Bluetooth 5.2 solutions
Infineon’s new AIROC™ Wi-Fi 6/6E and Bluetooth® 5.2 solutions bring reliable, high-performance connectivity to smart homes Key facts › Infineon is expanding its AIROC™ wireless portfolio of high- performance, reliable and secured offerings with combined Wi-Fi 6/6E and Bluetooth® 5.2 combo capabiliti
Slide 72: Selected financial figures
Selected financial figures 72
Slide 73: Strong presence in all regions; balanced customer portfolio
Strong presence in all regions; well-balanced customer portfolio; no customer represents more than 10% of total sales FY20 revenue by region Revenue by sales channel* Distribution and EMS partners Top-10 direct customers Americas EMEA (excl. Germany) 12% 15% Japan 9% Germany 12% Top-10 direct Distri
Slide 74: Group financial performance
Group financial performance Revenues and segment result USD exchange rate [EUR m] Revenues Segment result Margin Average exchange rate 2,722 60% Q3 Q2 Q3 2,631 2,700 2,490 FY20 FY21 FY21 50% 2,174 ø USD/EUR 1.10 1.21 1.20 2000 40% Book-to-bill* *See notes for definition **Calculated on a like-for-li
Slide 75: Automotive (ATV)
Automotive (ATV) Revenues* Segment Result* Margin Book-to-bill [EUR m] [EUR m] 197 199 185 1,219 1,205 1,150 2.3 2.3** 1,045 16.1% 16.2% 16.5% 810 1.5 59 1.3 -26 5.6% 0.2 -3.2% Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 **C
Slide 76: Industrial Power Control (IPC)
Industrial Power Control (IPC) Revenues Segment Result Margin Book-to-bill [EUR m] [EUR m] 412 366 349 362 361 82 69 63 61 59 1.8* 1.6 1.4 19.8% 19.9% 17.2% 16.9% 1.1 16.3% 0.7 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 *Ca
Slide 77: Power & Sensor Systems (PSS)
Power & Sensor Systems (PSS) Revenues Segment Result Margin Book-to-bill [EUR m] [EUR m] 759 779 787 209 757 681 197 2.5* 184 167 143 1.9 27.5% 1.6 25.3% 23.4% 1.2 1.2 22.1% 21.0% Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21
Slide 78: Connected Secure Systems (CSS)
Connected Secure Systems (CSS) Revenues* Segment Result* Margin Book-to-bill [EUR m] [EUR m] 333 335 329 346 312 3.4** 2.6 2.6 45 47 39 42 30 1.1 12.5% 12.6% 13.4% 13.6% 0.8 9.1% Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 FY20 FY20 FY21 FY21 FY21 *
Slide 79: Gross margin and Opex
Gross margin and Opex Gross profit R&D SG&A [EUR m] Gross profit as reported [EUR m] R&D expenses [EUR m] SG&A expenses Gross margin as reported R&D expenses as % of revenue SG&A expenses as % of revenue 1.065 985 972 376 321 333 341 328 342 793 308 316 308 311 587 37.4% 36.0% 39.1% 31.8% 14.8% 13.8
Slide 80: RoCE and adjusted RoCE
RoCE and adjusted RoCE 25% 15% 5% -5% FY17 FY18 FY19 FY20 Q3 FY20 Q4 Q1 FY21 Q2 Q3 Adjusted RoCE (excl. effects from International Rectifier and Cypress acquisition, Deferred Tax Effects, RF Power sale) RoCE 2021-08-03 Copyright © Infineon Technologies AG 2021. All rights reserved. 80
Slide 81: 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] 28 24 27 20 19 15 18 13 8 -11 EPS basic Q3 FY20 Q4 Q1 FY21 Q2 Q3 EPS adjusted Total cash return to shareholders [EUR m] 305 336 › Dividend for FY20: €0.22 per share 283 286 225 248
Slide 82: Working Capital, in particular trade working capital components
Working Capital, in particular trade working capital components Working capital* Inventories [EUR m] [EUR m] [days] 2,215 2,052 1,955 2,053 1,937 1,505 1,007 993 945 855 126 109 112 107 101 Q3 FY20 Q4 Q1 FY21 Q2 Q3 Q3 FY20 Q4 Q1 FY21 Q2 Q3 Inventories DIO* Trade receivables Trade payables [EUR m] [d
Slide 83: D&A impacted by Cypress consolidation and PPA
D&A impacted by Cypress consolidation and PPA Investments* Depreciation & Amortization [EUR m] [EUR m] ~1.6bn 1.5bn -1.6bn 1,451 1,254 1,260 ~500 1,099 315 1,022 945 826 861 833 812 87 140 103 129 16.5% 18.1% ~14.5% 12.8% 14.5% 12.9% 14.7% ~14.1% 12.8% 11.5% 11.3% 11.8% 693 683 758 858 945 FY16 FY17
Slide 84: Liquidity development
Liquidity development [EUR m] Gross Cash Gross Debt Net Cash/Debt 3,863 3,450 3,444 3,334 3,227 -2,945 -6,808 Q3 Q4 Q1 Q2 Q3 -6,703 -3,369 -6,859 -3,415 -7,033 -3,806 -4,296 -7,746 FY20 FY21 2021-08-03 Copyright © Infineon Technologies AG 2021. All rights reserved. 84
Slide 85: Maturity profile
Maturity profile Eurobond (Mar 2022) [EUR m; US$ m; nominal values] Term loans (Sep 2023, Jun 2024) Corporate bonds under the EMTN program (Jun 2023, Jun 2026, Jun 2029, Jun 2032) US PP Notes (Apr 2024, Apr 2026, Apr 2028) Hybrid bonds* (Jan 2025, Jan 2028) US PP 2021 Notes (Jun 2027, Jun 2029, Jun
Slide 86: Part of your life. Part of tomorrow.
Cinfineon Part of your life. Part of tomorrow.
Slide 87: Glossary (1 of 2)
Glossary (1 of 2) ABB accelerated book building ECC error correction code ABS anti-blocking system ECU electronic control unit AC alternating current EPS electric power steering AC-DC alternating current - direct current eSIM embedded subscriber identity module AD automated driving ESS energy storag
Slide 88: Glossary (2 of 2)
Glossary (2 of 2) IVN in-vehicle networking PTC positive temperature coefficient LCD liquid crystal display PV photovoltaic LDO low dropout voltage regulator RF radio frequency LED light-emitting diode rhs right-hand scale LSEV low-speed electric vehicle Si silicon LSPS LS Power Semitech Co. Ltd. Si
Slide 89: 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 90: Financial calendar
Financial calendar Date Location Event 1 Sep 2021 Chicago virtual Jefferies Annual Semiconductor Conference 2 Sep 2021 Frankfurt virtual Commerzbank Corporate Conference 2 Sep 2021 London virtual dbAccess European TMT Conference 5 Oct 2021 London // virtual Infineon Capital Markets Day “IFX Da
Slide 91: Notes and ESG footnotes
Notes and ESG footnotes 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 –
Slide 92: For further reading
For further reading ATV Business Update Call IPC Business Update Call Peter Schiefer Dr. Peter Wawer 5 October 2020 6 May 2021 https://www.infineon.com/2020atvcall https://www.infineon.com/2021ipccall CSS Business Update Call PSS Business Update Call Thomas Rosteck Andreas Urschitz 3 March 2021 1 Ju
Slide 93: Institutional Investor Relations contacts
Institutional Investor Relations contacts Alexander Foltin Executive Vice President Finance, Treasury & Investor Relations +49 89 234-23766 alexander.foltin@infineon.com Joachim Binder Isabell Diel Distinguished Engineer Investor Relations Manager Investor Relations +49 89 234-25649 +49 89 234-38297
Infineon Technologies — Q3 FY2021 Earnings Presentation on 6ix