Infineon Technologies Ag · XETR:IFX

Infineon Technologies — Q2 FY2023 Earnings Presentation

15 slides from Infineon Technologies's earnings presentation, May 4, 2023

  1. Slide 1: Second Quarter FY 2023 Analyst Call

    Second Quarter FY 2023 Analyst Call Infineon Technologies AG Investor Relations 1

  2. Slide 2: Group financial performance

    Group financial performance Revenues and segment result USD exchange rate [EUR m] Revenue Segment result Segment result margin Average revenue exchange rate +25% Q2 Q1 Q2 +4% FY22 FY23 FY23 4,143 4,119 3,951 ø USD/EUR 1.12 1.02 1.08 3,618 3,298 Order backlog1 [EUR bn] 42 43 37 38 36 28.0% 28.6% 25.5

  3. Slide 3: Automotive (ATV)

    Automotive (ATV) Revenues Segment Result Segment result margin [EUR m] [EUR m] +40% +11% 647 2,080 1,934 1,872 532 1,701 506 1,491 399 324 31.1% 26.2% 28.4% 23.5% 21.7% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 ‒ Record revenues and segment result – ATV crossed

  4. Slide 4: Green Industrial Power (GIP)

    Green Industrial Power (GIP) Revenues Segment Result Segment result margin [EUR m] [EUR m] +30% +12% 542 558 181 500 430 436 144 136 93 82 32.4% 28.8% 25.1% 21.6% 18.8% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 ‒ The division has been renamed "Green Industrial P

  5. Slide 5: Power & Sensor Systems (PSS)

    Power & Sensor Systems (PSS) Revenues Segment Result Segment result margin [EUR m] [EUR m] 338 +0% 301 277 1,169 -11% 1,021 1,043 237 925 925 197 29.8% 28.9% 28.9% 28.9% 28.9% 27.1% 27.1% 25.6% 25.6% 21.3% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 ‒ Revenue step

  6. Slide 6: Connected Secure Systems (CSS)

    Connected Secure Systems (CSS) Revenues Segment Result Segment result margin [EUR m] [EUR m] +23% +4% 155 531 550 492 125 448 456 108 84 86 28.2% 24.1% 23.5% 18.4% 17.5% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 ‒ Record revenue and segment result ‒ Revenue grow

  7. Slide 7: Gross margin and Opex

    Gross margin and Opex Gross profit R&D SG&A [EUR m] [EUR m] [EUR m] 1,866 1,920 1,839 1,564 1,416 466 486 484 487 447 452 414 410 394 47.2% 46.6% 369 44.4% 43.2% 42.9% 13.6% 12.9% 11.7% 12.3% 11.8% 11.2% 11.4% 10.9% 10.4% 9.6% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q

  8. Slide 8: 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] 866 709 605 565 542 494 443 429 434 440 405 422 193 120 25 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 FY22 FY22 FY22 FY23 FY23 FY22 FY22 FY22 FY23 FY23 FY22 FY

  9. Slide 9: Liquidity development

    Liquidity development Historical liquidity development [EUR m] 3,569 3,717 3,708 3,446 3,205 -5,467 -1,759 -5,662 -1,945 -5,428 -1,982 Q2 Q3 Q4 Q1 Q2 -6,054 -2,485 -5,881 -2,676 FY22 FY22 FY22 FY23 FY23 Gross Cash Gross Debt Net Cash/Debt 2023-05-04 Copyright © Infineon Technologies AG 2023. All rig

  10. Slide 10: Outlook for Q3 FY23 and FY23

    Outlook for Q3 FY23 and FY23 Outlook Outlook Q3 FY231 FY231 Revenue ~€4.0bn €16.2bn +/-€300m Adj. Gross Margin ~47% Segment Result Margin ~26% ~27% FCF/adj. FCF ~€1.1bn/~€1.8bn Investments ~€3.0bn D&A ~€1.8bn2 1 Based on an assumed average exchange rate of $1.10 for €1.00 2 Including the amortizatio

  11. Slide 11: Key points

    Key points 2023 fiscal year continued on a very strong trajectory Q2 FY23 – €4.1bn revenue, 28.6% Segment Result Margin Consistently navigating a challenging environment − Market dynamics in key application areas like automotive and industrial, in particular e-mobility and renewables, remain robust

  12. Slide 12: Questions & Answers

    Questions & Answers 2023-05-04 Copyright © Infineon Technologies AG 2023. All rights reserved. 12

  13. Slide 13: Cinfineon

    Cinfineon

  14. Slide 14: 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

  15. Slide 15: Notes

    Notes Order backlog = The total amount of orders received regardless of their current status Working Capital = ('Total current assets' – 'Cash and cash equivalents' – 'Financial investment' – 'Assets classified as held for sale') – ('Total current liabilities' – 'Short term debt and current maturiti

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