Infineon Technologies Ag · XETR:IFX

Infineon Technologies — Q1 FY2011 Earnings Presentation

30 slides from Infineon Technologies's earnings presentation, Feb 1, 2011

  1. Slide 1: First Quarter FY 2011 Quarterly Update

    First Quarter FY 2011 Quarterly Update Infineon Technologies AG Investor Relations

  2. Slide 2: Infineon Results and Outlook

     Infineon Results and Outlook  Business Highlights 01 February 2011 Copyright © Infineon Technologies 2010. All rights reserved. Page 2

  3. Slide 3: Segment Result and Margin Up; Sales Down Due to FX and Seasonality

    Segment Result and Margin Up; Sales Down Due to FX and Seasonalty Revenue Net Income* [EUR m] Q4 FY10 Q1 FY11 942 Revenue 942 922 922 Segment Result 171 177 390 232 Segm. Result Margin 18% 19% Q4 FY10 Q1 FY11 Net Income* 390 232 FCF from cont. ops 236 4 Gross Cash Position 1,727 1,669 Net Cash 1,331

  4. Slide 4: Segment Result Margin Improved Continuously Since Last Year

    Segment Result Margin Improved Con- tinuously Since Last Year Revenue and segment result; Q1 FY10 to Q1 FY11 [EUR m] +34% 942 922 30% 885 781 687 19% 18% 20% 16% 12% 10% 10% Segment 70 96 138 171 177 Result 0% Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10 Q1 FY11 Revenue Segment Result margin 01 February 2011 Cop

  5. Slide 5: ATV Recorded All-time-high in Revenue; IMM and CCS Down

    ATV Recorded All-time-high in Revenue; IMM and CCS Down Due to Seasonality, FX Revenue [EUR m] Share of total Q4 Q4 FY10 FY10 340 340 ATV ATV +4% 38 % Q1 Q1 FY11 FY11 354 354 Q4 Q4 FY10 FY10 436 436 IMM IMM -3% 46 % Q1 Q1 FY11 FY11 423 423 Q4 Q4 FY10 FY10 115 115 11 % CCS CCS -15% Q1 Q1 FY11 FY11 98

  6. Slide 6: All-time-high for IMM SR Margin; CCS Stayed With Double-digit SR Margin

    All-time-high for IMM SR Margin; CCS Stayed With Double-digit SR Margin Segment Result [EUR m] Segment Result Margin Q4 Q4 FY10 FY10 58 58 17% ATV Q1 Q1 FY11 FY11 59 59 17% Q4 Q4 FY10 FY10 106 106 24% IMM IMM Q1 Q1 FY11 FY11 107 107 25% Q4 Q4 FY10 FY10 12 12 10% CCS CCS Q1 Q1 FY11 FY11 10 10 10% Not

  7. Slide 7: OpEx In-line With Target Operating Model

    OpEx In-line With Target Operating Model S and G&A R&D [EUR m] 120 114 13,0% 108 100 103 103 100 100 95 96 12,5% 88 89 80 12,0% 60 11,5% 40 11,0% 20 10,5% 0 10,0% Q1 FY10 Q2 Q3 Q4 Q1 FY11 Q1 FY10 Q2 Q3 Q4 Q1 FY11 Selling General & Administration R&D % of Sales 01 February 2011 Copyright © Infineon T

  8. Slide 8: Higher Investments to Fully Exploit Our Growth Potential

    Higher Investments to Fully Exploit Our Growth Potential Investments1) D&A [EUR m] ~ 700 slightly 453 xxx > 400 325 336 85 163 80 115 80 81 47 131 90 83 35 FY 2009 FY 2010 Guidance FY 2009 FY 2010 Guidance for FY 2011 for FY 2011 Q1 Q2 Q3 Q4 1) For definition please see slide 25 in appendix. 01 Febr

  9. Slide 9: Net Cash on a Continued High Level of About EUR 1.3bn

    Net Cash on a Continued High Level of About EUR 1.3bn Liquidity Development Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10 Q1 FY11 [EUR m] * 243 153 243 133 255 151 270 402 534 270 1727 1678 1669 1667 1514 1331 1293 1108 1108 995 874 995 874 Gross Cash Debt Equity-linked Net Cash * Consists of Convertible Bond 201

  10. Slide 10: Guidance for FY 2011 Increased; Continuing Strong Operat. Performance

    Guidance for FY 2011 Increased; Continuing Strong Operat. Performance Outlook Q2 FY11 Outlook FY 2011 (compared to Q1 FY11) (compared to FY 2010) Infineon Revenue to be Revenue to grow by Revenue up slightly. mid-teens percentage. Combined Segment Segment Result Margin Margin to be a Result to be 18

  11. Slide 11: Table of Contents

    Table of Contents  Infineon Results and Outlook  Business Highlights 01 February 2011 Copyright © Infineon Technologies 2010. All rights reserved. Page 11

  12. Slide 12: Revenue Split by Division

    Revenue Split by Division 3-months FY11 revenue split Automotive ATV € 354m IMM € 423m CCS € 98m Industrial & Chip Card Multimarket & Security 01 February 2011 Copyright © Infineon Technologies 2010. All rights reserved. Page 12

  13. Slide 13: Infineon Holds #1 Positions in All Target Markets

    Infineon Holds #1 Positions in All Target Markets Auto- Power Chip Card motive #1 #1 #1 Market Market Market share share share 9% 11% 27% Calendar Year 2009 Calendar Year 2009 Calendar Year 2009 Source: Strategy Analytics, Source: IMS Research, Source: Frost & Sullivan, May 2010 July 2010 October 20

  14. Slide 14: Automotive Segment (ATV)

    Automotive Segment (ATV) Revenue and Segment Result from Q1 FY10 to Q1 FY11 [EUR m] 400 Revenue Segment Result SR margin 18% 340 354 350 316 333 16% 300 279 14% 250 12% 10% 200 8% 150 6% 100 59 4% 51 52 58 50 37 2% 0 0% Q1 FY10 Q2 Q3 Q4 Q1 FY11  Revenue driven by continued strong global demand, esp

  15. Slide 15: Programmable Linear Hall Sensor TLE4998 in Volkswagen Group's EPS Systems

    Programmable Linear Hall Sensor TLE4998 in Volkswagen Group„s EPS Systems Infineon Tier 1 OEM TLE4998 Sensor module Power steering system  Used for accurate rotation  Hall sensors are used in  Among others car and position detection: electric power steering manufacturers, the  pedal detection (E

  16. Slide 16: Target Applications for Electric Drive Train

    Target Applications for Electric Drive Train Product Portfolio Application Product Power 100 kW Driver ICs for IGBTs, diodes, MOSFETs 90 kW Bare die IGBTs, discrete IGBTs, 80 kW HybridPACK™ 2 Inverter and generator 70 kW for full hybrids and 60 kW electric vehicles 50 kW 40 kW HybridPACK™ 1 Pin-Fin

  17. Slide 17: Target Applications for Automotive Easy Modules

    Target Applications for Automotive Easy Modules Overview aux. drives and converters Easy 1B Easy 2B 01 February 2011 Copyright © Infineon Technologies 2010. All rights reserved. Page 17

  18. Slide 18: Industrial & Multimarket Segment (IMM)

    Industrial & Multimarket Segment (IMM) Revenue and Segment Result from Q1 FY10 to Q1 FY11 [EUR m] 500 Revenue Segment Result SR margin 30% 436 423 400 389 25% 324 20% 300 280 15% 200 107 10% 106 100 85 44 59 5% 0 0% Q1 FY10 Q2 Q3 Q4 Q1 FY11  Strong demand from high-power drives for industrial appli

  19. Slide 19: Successful Integration of RF Power into IMM

    Successful Integration of RF Power into IMM Morgan Hill, CA, USA RF power products RF power products are used in mobile phone infrastructure. Main customers Ericsson and Huawei. Morgan Hill is the backend location for RF power products. 130 employees. 01 February 2011 Copyright © Infineon Technologi

  20. Slide 20: Mobility: Infineon's Power Components for Drive Controls for Train Systems

    Mobility: Infineon„s Power Components for Drive Controls for Train Systems High-speed trains Underground trains Infineon parts  Power: 5 to 10 MW per train.  Power: 0.5 to 1 MW per train.  80 to 120 IGBT modules per train.  25 to 50 IGBT modules per train  Semiconductor content:  Semiconductor

  21. Slide 21: Infineon and Goldwind Sign a License Agreement on IGBT Stack Technology

    Infineon and Goldwind Sign a License Agreement on IGBT Stack Technology Infineon IGBT stacks Agreement with Goldwind Goldwind gains the license to produce Infineon IGBT stacks used in converters of MW-grade wind turbines. Furthermore, Infineon will supply IGBT stacks to Goldwind. Having applied the

  22. Slide 22: Chip Card & Security Segment (CCS)

    Chip Card & Security Segment (CCS) Revenue and Segment Result from Q1 FY10 to Q1 FY11 [EUR m] 140 Revenue Segment Result SR margin 12% 120 110 115 10% 99 98 100 83 8% 80 6% 60 4% 40 20 12 10 2% 1 3 6 0 0% Q1 FY10 Q2 Q3 Q4 Q1 FY11  Seasonal reduction after two consecutive record quarters in Payment

  23. Slide 23: Infineon's SLE 78 Security Controller for the New German National e-ID Card

    Infineon„s SLE 78 Security Controller for the New German National e-ID Card (nPA) German national electronic ID card  Project start in Nov 2010.  Europe‟s biggest ID project.  Currrently, about 60m e-ID card holders in Germany.  About 6.5m ID cards are issued each year in Germany.  Infineon is

  24. Slide 24: Dow Jones Sustainability Indexes Member 2010/11

    Dow Jones wee Sustainability Indexes Cifineon Member 2010/11 Innovative semiconductor solutions for energy efficiency, mobility and security.

  25. Slide 25: Notes

    Notes Investments = „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 and cash equivalents‟ – „Available-for-sale financial assets‟ – „Assets classified as held for di

  26. Slide 26: Infineon Consolidated Statements of Operations (IFRS) (unaudited)

    Infineon Consolidated Statements of Operations (IFRS) (unaudited) 3 m o nt hs e nde d in E uro m illio n D e c 3 1, 10 S e p 3 0 , 10 D e c 3 1, 0 9 Revenue 922 942 687 Co st o f go o ds so ld (538) (563) (446) G ro s s pro f it 384 379 241 Research and develo pment expenses (108) (114) (89) Selling

  27. Slide 27: Infineon Consolidated Statements of Financial Position (IFRS) (unaudited)

    Infineon Consolidated Statements of Financial Position (IFRS) (unaudited) in Euro m illion Dec 31, 10 Sep 30, 10 Assets Current assets: Cash and cash equivalents 1.610 1.667 Available-for-sale financial assets 59 60 Trade and other receivables 685 687 therein: Trade accounts receivables 630 622 Inve

  28. Slide 28: Infineon Consolidated Statements of Cash Flows (IFRS) (unaudited)

    Infineon Consolidated Statements of Cash Flows (IFRS) (unaudited) in Euro Million 3 m onths ended Dec 31, 10 Sep 30, 10 Dec 31, 09 Net income 232 390 65 Less: net loss from discontinued operations (83) (197) (124) Adjustments to reconcile net income (loss) to cash provided by (used in) operating act

  29. Slide 29: Financial Calendar and IR Contacts

    Financial Calendar and IR Contacts Financial Calendar IR Contacts  Feb 17, 2011 Ulrich Pelzer Annual Shareholder Meeting Corporate Vice President Corporate Development & Investor  May 03, 2011* Relations Q2 FY11 Results  +49 89 234-26153  June 07, 2011*  ulrich.pelzer@infineon.com IFX Day Joach

  30. Slide 30: Disclaimer

    Disclaimer This presentation was prepared as of February 01, 2011 and is current only as of that date. This presentation includes forward-looking statements and assumptions about the future of Infineon‟s business and the industry in which we operate. These include statements and assumptions relating

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