Infineon Technologies Ag · XETR:IFX

Infineon Technologies — Q4 2024 Earnings Presentation

18 slides from Infineon Technologies's earnings presentation, Nov 12, 2024

  1. Slide 1: Fourth Quarter FY 2024 Analyst Call

    Fourth Quarter FY 2024 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] Average revenue exchange rate Segment Result Revenues Segment Result Margin -6% Q4 Q3 Q4 +6% FY23 FY24 FY24 ø USD/EUR 1.09 1.08 1.10 4,149 3,919 3,702 3,632 3,702 Order backlog1 [EUR bn] 29 24 24 22 19 25.2% 22.4% 19.5

  3. Slide 3: Automotive (ATV)

    Automotive (ATV) Revenues Segment Result [EUR m] [EUR m] Segment Result Segment Result Margin Revenues -1% +2% 2,162 2,085 2,078 2,112 2,149 617 564 537 551 512 28.5% 27.1% 24.6% 25.4% 25.6% ‒ Slight revenue increase driven by higher volumes, particularly in xEV and MCU. ‒ In FY24, Infineon grew the

  4. Slide 4: Green Industrial Power (GIP)

    Green Industrial Power (GIP) Revenues Segment Result [EUR m] Revenues [EUR m] Segment Result Segment Result Margin -14% +6% 582 487 475 503 469 166 130 111 89 88 28.5% 26.7% 19.0% 18.5% 22.1% ‒ Seasonal revenue uptick due to renewable energy generation and transportation. ‒ Demand for decarbonizatio

  5. Slide 5: Infineon is the leader across all power semiconductor technologies

    Infineon is the leader across all power semiconductor technologies – unparalleled portfolio and know-how World’s thinnest silicon power World’s most competitive World’s first 300 mm wafer with 20 µm on 300 mm 200 mm silicon carbide power fab gallium nitride power wafer ‒ Broadest Si-power portfolio

  6. Slide 6: Power & Sensor Systems (PSS)

    Power & Sensor Systems (PSS) Revenues Segment Result [EUR m] [EUR m] Revenues Segment Result Segment Result Margin -6% +15% 912 861 765 713 749 172 99 105 18,9% 64 70 12,9% 9,0% 12,2% 9,3% ‒ Growth across all business lines – AI power solutions up 50% q-o-q. ‒ Consumer, compute, communications have

  7. Slide 7: Connected Secure Systems (CSS)

    Connected Secure Systems (CSS) Revenues Segment Result [EUR m] Revenues [EUR m] Segment Result Segment Result Margin -17% +11% 490 406 364 371 366 90 62 37 42 42 18.4% 15.3% 10.2% 11.3% 11.5% ‒ Revenue increase driven by connectivity, authentication, and identity solutions, as well as general-purpos

  8. Slide 8: Gross margin and Opex

    Gross margin and Opex Gross profit R&D SG&A [EUR m] [EUR m] [EUR m] 1,807 1,599 1,576 1,490 1,403 518 512 509 487 477 399 395 375 390 393 43.6 % 43.2 % 40.2 % 40.2 % 38.6 % 12.5% 13.8% 13.4% 13.7% 12.2% 10.7% 10.3% 10.5% 10.0% 9.6% Gross margin as reported Gross profit as reported R&D expenses as %

  9. Slide 9: 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] 1,057 1,145 614 722 700 393 653 643 470 473 450 456 467 82 -1,597 2024-11-12 Copyright © Infineon Technologies AG 2024. All rights reserved. 9

  10. Slide 10: Working capital, in particular trade working capital components

    Working capital, in particular trade working capital components Working capital1 Inventories [EUR m] [EUR m] [days] 3,503 3,477 3,974 4,330 4,404 4,429 3,990 2,901 2,946 185 178 180 1,763 153 153 Trade receivables Trade payables [EUR m] [days] [EUR m] [days] 2,765 1,991 2,000 2,142 2,250 1,743 2,160

  11. Slide 11: Development of liquidity and debt

    Development of liquidity and debt Capital structure [EUR m] Gross Cash Gross Debt Net Cash/Debt 3,590 2,712 2,583 2,345 2,201 -4,733 -1,143 -5,398 -2,686 -4,811 -2,610 -5,386 -3,041 -5,941 -3,358 2024-11-12 Copyright © Infineon Technologies AG 2024. All rights reserved. 11

  12. Slide 12: Total cash return to shareholders via dividends

    Total cash return to shareholders via dividends [EUR m] Paid dividend Proposed dividend 456 455 417 336 351 305 283 286 248 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25e ‒ Proposed dividend for FY24: €0.35 per share ‒ Proposed dividend payout of €455m in FY25 2024-11-12 Copyright © Infineon Technolo

  13. Slide 13: Outlook for Q1 FY25 and FY25

    Outlook for Q1 FY25 and FY25 Outlook Outlook Q1 FY251 FY251 Revenue ~€3.2bn slightly down versus prior year Adj. Gross Margin ~40% Segment Result Margin mid-teens mid-to-high teens FCF/adj. FCF ~€900m/~€1.7bn Investments ~€2.5bn D&A ~€2.0bn2 1 Based on an assumed average exchange rate of $1.10 for €

  14. Slide 14: Key points

    Key points Sequential uptick in revenue and earnings Q4 FY24 – €3.9bn revenue, 21.2% Segment Result Margin Focus on what we can control ‒ Most end markets have bottomed, but inventory corrections affect our business at present ‒ Cycle management: exert OpEx and CapEx discipline; control fab loadings

  15. Slide 15: Questions & Answers

    Questions & Answers 2024-11-12 Copyright © Infineon Technologies AG 2024. All rights reserved. 15

  16. Slide 16: Cinfineon

    Cinfineon

  17. 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

  18. Slide 18: 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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