Infineon Technologies Ag · XETR:IFX
Infineon Technologies — Q3 FY2022 Earnings Presentation
91 slides from Infineon Technologies's earnings presentation, Aug 3, 2022
Slide 1: Third Quarter FY 2022 Quarterly Update
Third Quarter FY 2022 Quarterly Update Infineon Technologies AG Investor Relations 1
Slide 2: Infineon at a glance
Infineon at a glance Addressing long-term high-growth trends FY21 revenue by segment Decarbonization 13% Automotive (ATV) › CO2 saving › Energy efficiency Digitalization Industrial Power Control (IPC) 44% › Sustainability 29% › Productivity Power & Sensor Systems (PSS) › Comfort Connected Secure Sys
Slide 3: Since 1999, Infineon has grown by more than 10% p.a.
Since 1999, Infineon has grown by more than 10% p.a., thereby consistently outperforming the semiconductor market Revenues CAGR (FY99 – FY21): 10.6% Semiconductor World Market CAGR (FY99 – FY21): 5.8% Profitability1 FY09 – FY11: FY12 – FY14: FY15 – FY17: F18 – FY21: (average Segment Result Margin) 9
Slide 4: Global player, #1 in power semiconductors, #4 in microcontrollers
Infineon is a global player, #1 in power semiconductors, and ranked #4 in the overall microcontroller market Semiconductor suppliers Power discretes and modules MCU suppliers 2021 total market: $587bn1 2020 total market: $20.9bn2 2021 total market: $21.9bn1 Intel 13.0% Infineon 19.7% NXP 17.3% Samsu
Slide 5: Well-balanced portfolio among key trends Decarbonization and Digitalization
Well-balanced portfolio among key trends Decarbonization and Digitalization FY21 revenue of €11,060m by target application industrial and consumer IoT; 7% powertrain ICE; 8% payment, identification, ticketing; 6% xEV (incl. MHEV); 7% other PSS; 2% CSS safety excl. ADAS; 6% industrial; 7% 13% ATV ADA
Slide 6: Infineon and Delta Electronics further strengthen their collaboration in SiC and GaN
Infineon and Delta Electronics further strengthen their collaboration in SiC and GaN SiC and GaN design-wins for more than Delta SiC applications served by Infineon 10 Delta applications with a design-win › Several CoolSiC™ power supply design-wins for Delta's datacenter, volume of a low triple-digi
Slide 7: Power management solutions drive high performance compute systems
Infineon's cutting-edge power management solutions drive high performance compute systems Infineon provides best-in-class density and performance for DC-DC power conversion for AI training & ML systems Infineon components enable best-in- More than 60 DC-DC semiconductor components – class power dens
Slide 8: First design-wins with 3D ToF sensor for Automotive
First design-wins with 3D ToF sensor for Automotive Infineon's 3D ToF solution enables a broad range of applications Occupant Monitoring System › Gesture control by driver or passenger Alternative › Occupant detection (airbag, seat belt, camera weight estimation) mounting › Supports autonomous drivi
Slide 9: P2S approach delivers cross-divisional synergies
P2S approach delivers increasing number of cross-divisional synergies creating additional attraction and value Fully connected next-gen automotive cockpit EV charging from wallbox to high speed charger › Customer: large Korean automotive OEM › Customer examples: Alpitronic, Delta › Application: conn
Slide 10: Target Operating Model
Infineon’s value creation is crystallized in a resilient through-cycle Target Operating Model Target Operating Model1 Revenue growth 9%+ Segment Result Margin 19% Investment-to-sales 13% 1 Infineon financial performance to approach targets as Cypress integration progresses 2022-08-03 Copyright © Inf
Slide 11: Outlook for Q4 FY22 and FY22
Outlook for Q4 FY22 and FY22 Outlook Q4 FY221 Outlook FY221 Revenue ~ €3.9bn ~ €14.0bn Segment Result Margin ~ 25% > 23% Investments in FY22 ~ €2.4bn D&A in FY22 €1.6bn - €1.7bn2 Free Cash Flow in FY22 ~ €1.4bn 1 Based on an assumed average exchange rate of $1.05 for €1.00 2 Including the amortizati
Slide 12: ESG: targets and achievements
ESG: targets and achievements 12
Slide 13: We contribute a net CO2 reduction of more than 70 million tons
We contribute a net CO2 reduction of more than 70 million tons CO2 burden1 2.2 million tons CO2 savings2 of CO2 equivalents Ratio ~1:33 72.5 million tons of CO2 equivalents Net ecological benefit: CO2 emissions reduction of more than 70 million tons Infineon is excellent in resource efficiency We ar
Slide 14: Resource efficiency and commitment to CO2 neutrality
Infineon is excellent in resource efficiency and committed to CO2 neutrality – sustainability is in our DNA Infineon ranks among the 10 percent most sustainable companies in the world1 In CY20, we used resources in our manufacturing processes much more efficiently than the global average of the semi
Slide 15: Certified for Human Capital Reporting ISO30414
Infineon is one of the first companies to be certified for Human Capital Reporting ISO30414 Infineon is one of the first companies worldwide to be officially ISO30414 certified for Human Capital Reporting! Being Background compliant with the ISO standards means providing a comparable collection and
Slide 16: 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 05/2022 AAA B climate scoring CDP F to A 12/2021 B water scoring Ecovadis 99th percentile “Platinum” award 0 to 100 02/2022 83 Dow Jones Sustain- Dow Jones Sustainability
Slide 17: Infineon's wide band gap strategy
Infineon‘s wide band gap strategy 17
Slide 18: Leveraging full potential of Si, SiC and GaN
Leveraging full potential based on the power ratings and switching frequency required by the application Comparison of technologies Si › Si remains the mainstream technology › Targeting 25 V - 6.5 kV › Suitable from low to high power SiC › SiC complements Si in many applications and enables new solu
Slide 19: SiC – Infineon is serving all relevant applications
SiC – Infineon is serving all relevant applications Focus applications Customers Industrial power Photovoltaic Transportation Automotive supply Infineon serves > 3,000 customers directly or via distribution EV charging Drives 2022-08-03 Copyright © Infineon Technologies AG 2022. All rights reserved.
Slide 20: SiC – US$ billion revenue in sight
SiC – US$ 1 billion revenue in sight SiC power devices1 SiC revenue development 2021 total market: $1,137m STMicro 40% Infineon 22% ~$1bn revenue Wolfspeed Rohm 14% 10% Automotive onsemi 7% Mitsubishi 2% >60% CAGR Industrial › Strengthening #2 position in SiC device market › Highest yoy growth of al
Slide 21: CoolSiC trench design optimized performance and reliability
CoolSiC™ trench design optimized performance and reliability Infineon’s trench technology moves the boundaries High Infineon trench Gen 1 Gen 2 Reliability planar Low Performance High Instead of exploiting full potential of performance, Infineon turns part of this budget into much higher reliability
Slide 22: Cold Split technology reduces raw material losses
Our Cold Split technology leads to significant reduction of raw material losses during SiC manufacturing # of wafers Cold Split technology Crystal Technology (indexed) SiC boule 1x Boule Sawing Today Grinding Upper half Boule- splitting Traditional wire sawing wastes ~75% of raw material! Epitaxy Wa
Slide 23: Most comprehensive wide band gap portfolio
CoolSiC™ and CoolGaN™: Infineon offers the most comprehensive wide band gap portfolio Complementing vast portfolio of CoolSiC™ and CoolGaN™: The right-fit EiceDRIVER™ gate driver ICs 2022-08-03 Copyright © Infineon Technologies AG 2022. All rights reserved. 23
Slide 24: > €2bn investment to build a 3rd module at Kulim
Expansion of SiC and GaN capacity follows our long-term strategy > €2bn investment to build a 3rd module at our site in Kulim Rationale › Seize structural growth opportunities linked to electrification › Prepare manufacturing cluster for acceleration of WBG › Create higher resilience of WBG supply b
Slide 25: GaN power solutions provide superior system level efficiency
Infineon’s GaN power solutions provide superior system level efficiency – exemplified by Anker chargers and adapters GaN market forecast1 Key values of GaN vs Si Chargers and adapters [USD m] Higher power density in adapters and chargers Infineon’s digital power controller CAGR(20 – 25): 84% and the
Slide 26: GaN portfolio is seeing increasing demand
Infineon’s GaN portfolio is seeing increasing demand from a broad range of applications GaN for power applications GaN for RF applications › GaN discretes, GaN drivers, integrated power stages (including › GaN power amplifier with frequencies of 2.5 to 2.7 GHz and 8 W the right-fit driver) for 650 V
Slide 27: Automotive
Automotive Infineon
Slide 28: ATV at a glance
ATV at a glance ATV revenue and Segment Result Margin FY21 revenue split by product group [EUR m] CAGR(FY16-FY21): 12.8% memory ICs MCUs 5.000 4,841 25% 4.500 4.000 2,989 3,284 3,503 3,521 3.500 2,656 15% 3.000 2.500 16% 14% 16% 2.000 14% 12% 5% 1.500 1.000 4% 500 sensors 0 -5% FY16 FY17 FY18 FY19 F
Slide 29: Automotive semiconductor market expected to continue its growth journey
Automotive semiconductor market expected to continue its growth journey Applications Market Outlook for CY22 Market Outlook for CY23 › Demand-supply uncertainties continue due to COVID-19 pandemic and silicon foundry limitations › Demand-supply situation expected to stabilize › Ukraine war causing f
Slide 30: 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 (2021 total market: $46.7bn; +31.5% yoy) Infineon 12.7% › total market grew by 31.5% yoy, reaching all-time-high of $46.7bn, exceeding previous high in 2018 of $38.2b
Slide 31: Electromobility
Electromobility 31
Slide 32: Broad presence in Automotive with new SiC design-wins
We continue the broad presence of Infineon power semiconductors in Automotive applications with new SiC design-wins Examples of OEMs powered by Infineon Latest CoolSiC™ design-wins including new applications Volkswagen German Luxury OEM Hyundai XPeng › Leverage huge IGBT customer base with broadest
Slide 33: xEV penetration continues on all-time high level
xEV (PHEV + BEV) penetration continues on all-time high level globally in Q2 CY22, China with strongest increase [units k] penetration 26.5% 6,750 19.6% 15.7% 15.8% 12.4% 14.2% 14.0% 3,240 6.8% 10.7% 6.2% 8.4% 4.4% 8.4% 2,341 5.6% 2,255 2.2% 3,407 4.2% 2,070 1,405 1,167 1,304 0,328 0,583 0,580 1,336
Slide 34: 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 > 50k inhabitants: no ICE on the street. 2035: › EU: all new cars zero-emission. 2040: Spain, cities with > 50k › China: public transport vehicles to be fully elec
Slide 35: Infineon addresses close to 100% of power semiconductors for all drive trains
Infineon addresses close to 100% of power semiconductors for all kinds of drive trains ICE mix by product technology1 2021 average xEV semi content1 Incremental power semi by application ~$1000 other OBC, DC-DC, BMS, 10% Power ~$870 auxiliaries, analog 20% 10% Sensors 20% 10% 10% 30% ~$600 ~$500 Mem
Slide 36: Automated Driving
Automated Driving Cinfineon
Slide 37: The car of the future is driving digitalization
The car of the future is driving digitalization in many aspects and Infineon provides the ingredients ADAS/AD software-over-the-air infotainment and HMI › object recognition › remote OS updates › seamless digital entertainment › advanced spatial sensing › secure feature upgrades › always-on, secure
Slide 38: AURIX – the gold standard of Automotive MCUs
AURIX™ – the “gold standard” of Automotive MCUs continues its success story with the recently announced TC4x Current AURIX™ TC2x/TC3x microcontroller family New AURIX™ TC4x microcontroller family › AURIX™ is one of the leading Automotive microcontrollers with more › New AURIX™ TC4x family for next g
Slide 39: AURIX MCU family first-choice automotive architecture
The Infineon AURIX™ MCU family has become the first-choice auto- motive architecture for high-growth and safety-critical applications Infineon AURIX™ revenue development over time Powertrain Classical safety ADAS/AD Domain and zone control › ICE engine management › power steering › camera host contr
Slide 40: Industrial Power Control
Industrial Power Control Cinfineon
Slide 41: IPC at a glance
IPC at a glance IPC revenue and Segment Result Margin FY21 revenue split by product group (indicative) [EUR m] CAGR(FY16-FY21): 7.5% SiC discrete IGBTs 1.800 1,542 25% 1.600 1,323 1,418 1,406 1.400 1,206 1.200 1,072 19% 18% 18% 15% IGBT modules 18% 1.000 15% driver ICs 800 12% 600 5% 400 200 0 -5% I
Slide 42: Market outlook remains positive due to save-the-world applications
Market outlook remains positive due to continuous growth in “save-the-world” applications Applications Market Outlook for CY22 Market Outlook for CY23 (% of FY21 segment revenue) Automation › Growth drivers (e.g. new energy, smart manufacturing) › Customer expectations remain optimistic for 2023 and
Slide 43: 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 2020 total market: $1.59bn 2020 total market: $1.43bn 2020 total market: $3.63bn Infineon 29.3% Mitsubishi 32.9% Infineon 36.5% Fuji Electric 15.6% onsemi 17.1% Fuji Electric 11.4% Mitsubish
Slide 44: Solutions for all links in the energy conversion chain
Infineon provides solutions for all links in the energy conversion chain 2022-08-03 Copyright © Infineon Technologies AG 2022. All rights reserved. 44
Slide 45: Infineon will benefit from all CO2 saving measures
Infineon will benefit from all CO2 saving measures CO2 (Gt / year) Total savings to be achieved: 35.000 23,000 Gt via Others 30.000 Buildings Fuel switch Hydrogen production Transport ~20% New markets 6,200 Gt 25.000 Transport 8,600 Gt Industry Energy efficiency Wide band gap 4,900 Gt 20.000 ~30% Hi
Slide 46: Green energy generation provides large business opportunities
Green energy generation provides large business opportunities Power semiconductor content by application Upside potential: example solar power 6000 [EUR per MW] 5,000 5000 4000 3,500 3,500 4,200 GW Net Zero Emissions scenario1 3000 2000 2,500 2,000 2,000 1000 0 0 2,400 GW Fossil, nuclear, Wind Solar
Slide 47: Increasing share of renewables requires stronger grid
Increasing share of renewables requires stronger grid Planned grid expansion in Infineon‘s 4.5 kV IGBT modules enable Germany HVDC lines Converter station › HVDC – High Voltage Direct Current lines are the technology of choice to strengthen the grid › Converter stations are equipped with power semic
Slide 48: Power & Sensor Systems
infineon Power & Sensor Systems
Slide 49: PSS at a glance
PSS at a glance PSS revenue and Segment Result Margin FY21 revenue split by product group [EUR m] other (incl. HiRel) CAGR(FY16-FY21): 9.9% 3.500 3,268 40% 3.000 2,445 2,560 MOSFETs 2,318 30% RF & sensors 2.500 2,041 2,148 (incl. SiC, GaN) 2.000 24% 24% 25% 20% 1.500 23% 20% 1.000 17% 10% 500 0 0% F
Slide 50: Long-term drivers valid but near-term headwinds in consumer
Long-term drivers are valid but current macro environment leads to near-term headwinds in consumer related applications Applications Market Outlook for CY22 Market Outlook for CY23 (% of FY21 segment revenue)1 › Structural growth driven by cloud computing and to a lesser › Growth expected to continu
Slide 51: 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 52: PSS – Power
PSS — Power Cinfineon
Slide 53: Clear leader in MOSFETs; growth potential in power ICs
Infineon is the clear leader in MOSFETs; growth potential in power ICs Discrete Power MOSFETs1 Power ICs2 2020 total market: $8.1bn 2020 total market: $24.3bn Infineon 24.4% Texas Instruments 15.8% onsemi 12.4% Infineon 8.2% STMicro 8.8% Analog Devices 7.2% Toshiba 7.7% Qualcomm 6.4% Renesas 5.1% ST
Slide 54: Data center – AI hyperscaler and telecom/edge computing driving growth
Data center – AI hyperscaler and telecom/edge computing are driving the growth Server growth Power requirement per server [units m] Power1: CAGR(20-25): 8% 20 Exponential increase in AI ~3x Training & Networking (ASIC/SoC/FPGA/CPU/ 15 GPU) power level requires cutting-edge innovation in ~1.5x Device
Slide 55: Transition from 3G/4G 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 56: PSS – RF and Sensing
S N PSS — RF and Sensing Infineon
Slide 57: 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 factor Presence Face ID Low power detection/ (biometrics), Measure CO2
Slide 58: Sensor markets targeted by PSS offer attractive growth potential
Sensor markets targeted by PSS offer attractive growth potential MEMS microphone market Radar IC market (24 GHz and 60 GHz only) [EUR m] 1543 [EUR m] 1433 1480 600 1310 1074 1150 470 340 237 132 143 FY 2021 2022 2023 2024 2025 2026 FY 2021 2022 2023 2024 2025 2026 Source: Infineon estimates Source:
Slide 59: Unparalleled audio characteristics of XENSIV MEMS microphones
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 35.7% total market: 6.0bn units 34.7% 33.5% 26.5% Infineon 44.2% Knowles 38.
Slide 60: Infineon 3D ToF is 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 61: Connected Secure Systems
Cinfineon Connected Secure Systems
Slide 62: CSS at a glance
CSS at a glance CSS revenue and Segment Result Margin FY21 revenue split by product group [EUR m] CAGR(FY16-FY21): 14.7% MCUs 1,397 30% 1.400 1.200 974 1.000 703 708 664 20% security ICs 800 19% 642 18% 600 16% 10% 400 12% 13% 13% 200 0 0% FY16 FY17 FY18 FY19 FY20 FY21 connectivity CSS revenue CSS S
Slide 63: Market outlook affected by weaker macro conditions and supply constraints
Market outlook affected by weaker macroeconomic conditions and persisting supply constraints Applications Market Outlook for CY22 Market Outlook for CY23 (% of FY21 segment revenue) Industrial IoT › Stable demand despite impact of the Russia-Ukraine conflict and › Growth in industrial IoT is expecte
Slide 64: Infineon remains top player in security ICs
Infineon remains top player in security ICs Security ICs (excl. NFC controllers; excl. NFC eSE) Security ICs (excl. NFC controllers; excl. NFC eSE) 2020 total market: $2.8bn 2020 by application others (incl. ticketing, transportation, access Infineon 24.6% control, others); 13% payment; 37% embedded
Slide 65: MCU and software key for success in IoT
MCU and software are key for the success in IoT as they define the functionality and time-to-market of the device Customer expectations Infineon’s MCU offering Hardware › Broad solution-oriented MCU family offering Broad portfolio › Platform strategy for MCU development: Application fit › shared cor
Slide 66: Key enabling technologies to capture growth opportunities
With a broad set of key enabling technologies, Infineon is well positioned to capture growth opportunities Market: Home Automation Customer ex. for wireless smart Devices1 Leading competencies to provide full system solutions cameras and smart door locks [units m] Application understanding CAGR: +20
Slide 67: Edge AI is a fast developing market
Edge AI is a fast developing market enabled by and calling for many of our core competencies Edge AI to offer additional growth opportunities as inference workloads move to device level Cloud AI Edge AI › Public and private clouds offer scalability › Smart subsystems offer low latency, improved priv
Slide 68: AIROC portfolio expansion to support Matter
AIROC™ portfolio expansion to support Matter with multiprotocol solutions including BLE and IEEE 802.15.4 low-power SoC Infineon joins Connectivity Standards Alliance – shaping the future of IoT AIROC™ CYW30739 › Launching the new AIROC™ Bluetooth® Low Energy (BLE) and IEEE 802.15.4 to support Matte
Slide 69: World's first TPM with quantum-resistant firmware upgrade path
The world's first TPM with a quantum-resistant firmware upgrade path The market for long-term secure applications is opening In 10-20 years, quantum computers are likely to attack today today's cryptography › Quantum-resistant designs offers vast market potential - new devices 5-8 years with longer
Slide 70: Selected financial figures
Selected financial figures 70
Slide 71: Strong presence in all regions; well-balanced customer portfolio
Strong presence in all regions; well-balanced customer portfolio; no customer represents more than 10% of total sales FY21 revenue by region Revenue by sales channel Distribution partners* Top-10 direct customers* Americas EMEA (excl. Germany) 11% 13% Japan 10% Germany 12% Top-10 direct Distribution
Slide 72: Group financial performance
Group financial performance Revenues and segment result USD exchange rate [EUR m] Revenues Segment result Margin +33% Average exchange rate +10% Q3 Q2 Q3 3,618 FY21 FY22 FY22 3,298 3,159 ø USD/EUR 1.20 1.12 1.06 3,007 2,722 Order backlog1 [EUR bn] 42 37 29 31 23.1% 23.3% 20.5% 22.7% 23 18.2% 717 761
Slide 73: Automotive (ATV)
Automotive (ATV) Revenues Segment Result Margin [EUR m] [EUR m] +41% 399 +14% 1,701 324 1,491 261 1,390 1,205 1,267 199 211 23.5% 21.7% 16.7% 18.8% 16.5% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 › Positive development driven by additional capacity, favorable pr
Slide 74: Industrial Power Control (IPC)
Industrial Power Control (IPC) Revenues Segment Result Margin [EUR m] [EUR m] +6% +1% 430 436 412 407 382 93 82 82 72 73 19.9% 21.6% 18.8% 17.7% 19.1% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 › Renewable energy and power infrastructure solutions continue to thr
Slide 75: Power & Sensor Systems (PSS)
Power & Sensor Systems (PSS) Revenues Segment Result Margin [EUR m] [EUR m] +35% +10% 1,021 285 945 955 925 276 277 237 757 167 29.2% 29.8% 27.1% 25.6% 22.1% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 › Fewer delivery limitations caused by Covid containment measu
Slide 76: Connected Secure Systems (CSS)
Connected Secure Systems (CSS) Revenues Segment Result Margin [EUR m] [EUR m] +32% +2% 456 108 448 100 427 386 84 346 60 47 23.4% 24.1% 18.4% 13.6% 15.5% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 › Demand in key areas like industrial IoT, smart buildings and ide
Slide 77: Gross margin and Opex
Gross margin and Opex Gross profit R&D SG&A [EUR m] Gross margin as reported [EUR m] R&D expenses as % of revenue [EUR m] SG&A expenses as % of revenue Gross profit as reported R&D expenses SG&A expenses 1,564 1,416 1,312 1,238 466 447 1,065 399 399 414 376 373 369 342 330 43.2% 42.9% 41.2% 41.5% 39
Slide 78: 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] 596 542 494 408 477 422 440 380 397 393 405 378 378 285 120 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 FY21 FY21 FY22 FY22 FY22 FY21 FY21 FY22 FY22 FY22 FY21 F
Slide 79: Working Capital
Working Capital, in particular trade working capital components Working capital1 Inventories [EUR m] [EUR m] [days] 1,091 1,148 2,834 2,319 2,540 855 788 2,053 2,181 711 112 111 113 121 124 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Trade receivables Trade payabl
Slide 80: Return on capital employed
Return on capital employed Historical development 25% 20% 15% 10% 5% 0% FY18 FY19 FY20 FY21 Q3 FY21 Q4 Q1 FY22 Q2 Q3 2022-08-03 Copyright © Infineon Technologies AG 2022. 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] 44 49 36 41 41 39 35 35 EPS basic 27 18 EPS adjusted Q3 Q4 Q1 FY22 Q2 Q3 Total cash return to shareholders [EUR m] 336 351 305 283 286 › Dividend for FY21: €0.27 per share 248 225 ›
Slide 82: Liquidity development
Liquidity development Historical liquidity development [EUR m] 4,284 3,922 3,863 3,569 3,205 -2,373 -6,657 -6,054 -2,485 Q3 Q4 Q1 Q2 Q3 -6,585 -2,663 -5,881 -2,676 -6,808 -2,945 FY21 FY21 FY22 FY22 FY22 Gross Cash Gross Debt Net Cash/Debt 2022-08-03 Copyright © Infineon Technologies AG 2022. All rig
Slide 83: Maturity profile
Maturity profile Maturity profile from 2022 to 2033 [EUR m; US$ m; nominal values] Term loans (Jun 2024) US PP 2016 Notes (Apr 2024, Apr 2026, Apr 2028) Corporate bonds under the EMTN program Hybrid bonds1 (Jan 2025, Jan 2028) (Jun 2023, Feb 2025,Jun 2026, Jun 2029, Jun 2032) US PP 2021 Notes (Jun 2
Slide 84: Conservative financial policy and commitment to investment-grade rating
Conservative financial policy and strict commitment to investment- grade rating are the basis for through-cycle flexibility Financial Policy Targets Status Quo (LTM 30 June 2022) Gross Cash1 €1bn + at least 10% of revenues → €2.2bn €1bn + 20% of revenues → €3.6bn Gross Debt2 ≤ 2.0x EBITDA 1.6x EBITD
Slide 85: Part of your life. Part of tomorrow.
Cinfineon Part of your life. Part of tomorrow.
Slide 86: 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
Slide 87: Glossary
Glossary AC alternating current Mbps megabit per second AD automated driving MCU microcontroller unit ADAS advanced driver assistance system MEMS micro electro-mechanical systems AI artificial intelligence MHEV mild hybrid electric vehicle AR augmented reality MIMO multiple input, multiple output AS
Slide 88: 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 89: For further reading
For further reading CMD 2021 IPC Business Update Call ATV Business Update Call 5 October 2021 Dr. Peter Wawer, Dr. Peter Friedrichs Peter Schiefer 11 May 2022 5 October 2020 https://www.infineon.com/2021cmd https://www.infineon.com/2022ipccall https://www.infineon.com/2020atvcall CSS Business Update
Slide 90: Financial calendar
Financial calendar Date Event Location 30 August 2022 UBS Japan in Focus conference virtual 1 September 2022 Deutsche Bank dbAccess European TMT Conference London 8 September 2022 Commerzbank and ODDO BHF Corporate Conference Frankfurt 8-9 September 2022 Citi 2022 Global Technology Conference New Yo
Slide 91: Institutional Investor Relations contacts
Institutional Investor Relations contacts Alexander Foltin Visitor address Executive Vice President Finance, Treasury & Investor Relations Am Campeon 1 – 15 +49 89 234-23766 885579 Neubiberg alexander.foltin@infineon.com Germany Isabell Diel Alexander Groschke Manager Investor Relations Director Inv
Infineon Technologies — Q3 FY2022 Earnings Presentation on 6ix