Infineon Technologies Ag · XETR:IFX

Infineon Technologies — Q2 FY2026 Earnings Presentation

89 slides from Infineon Technologies's earnings presentation, May 6, 2026

Slide 1: Second Quarter FY 2026 Quarterly Update
Second Quarter FY 2026 Quarterly Update Infineon Technologies AG Investor Relations public 1
Slide 2: Infineon at a glance
Infineon at a glance Addressing long-term high-growth trends FY25 revenue by segment Automotive (ATV) 10% Green Industrial Power (GIP) Power & Sensor Systems (PSS) 29% 50% Connected Secure Systems (CSS) Energy Mobility IoT green and efficient clean and safe smart and secure 11% Financials FY25 reven
Slide 3: Well-balanced portfolio among segments and key applications
Well-balanced portfolio among segments and key applications, highest growth coming from Decarbonization and Digitalization FY25 revenue of €14,662m by segment and key application CSS E-mobility Other 10% 13% 20% Software- 11% defined vehicle Automation & Drives 4% PSS 29% ATV 50% Smart Cards 4% 8% A
Slide 4: Global player, clear #1 in power semiconductors and automotive semis
Infineon is a global player, clear #1 in power semiconductors, Automotive semis and automotive microcontroller markets Power discretes and modules Automotive semiconductors 2024 total global market: $32.8bn1 2025 total market: $74.4bn2 Infineon 17.4% Infineon 12.8% onsemi 8.5% NXP 9.6% Texas Instr.
Slide 5: Our Target Operating Model
Our Target Operating Model: committing to ambitious financial goals and being the sustainability leader Target Operating Model through cycle Revenue growth >10% Segment Result Margin 25% Adj. Free Cash Flow Margin1 10-15% Sustainability leader CO2 neutrality 2030 1 See notes for definition 2026-05-0
Slide 6: Modular investment approach for long-term value creation
Modular investment approach for long-term value creation – pull-in of AI related investments for faster ramp Infineon investments1 FY26 ~€2.7bn Strategic investments ‒ Dresden module 4 Capacity investments ‒ Smart power and logic: enabling further growth for ”powering AI” and analog/mixed-signal pro
Slide 7: Outlook for Q3 FY26 and FY26
Outlook for Q3 FY26 and FY26 Outlook Outlook Q3 FY261 FY261 Revenue ~€4.1bn significantly up vs. prior year Adj. Gross Margin low-to-mid 40s % Segment Result Margin high-teens % ~20% FCF ~€1.25bn/ Adj. FCF ~€1.65bn Investments ~€2.7bn D&A ~€2.0bn2 1 Based on an assumed average exchange rate of $1.17
Slide 8: From 4 to 3 divisions: New organizational structure
From 4 to 3 divisions: New organizational structure to bring innovative system-level solutions to customers faster From… ATV GIP PSS CSS …to: Automotive (ATV) Power Systems (PS) Edge Systems (ES) Focus applications (examples) • SDV • Power infrastructure • Robotics & Edge AI • E-mobility • AI Datace
Slide 9: Well-balanced and simplified business setup
Well-balanced and simplified business setup FY25 revenue of €14.7bn as reported and pro forma CSS 10% MCU, security, wireless connectivity ~20% ES RF, sensors, USB PSS 29% Power (Si MOSFET, GaN), analog ICs ~30% PS Power (IGBT, SiC) GIP 11% OBC ATV 50% ~50% ATV 2026-05-06 public Copyright © Infineon
Slide 10: Acquisition of ams OSRAM's analog/mixed-signal sensor portfolio
Infineon strengthens its sensor leadership with the acquisition of ams OSRAM’s non-optical analog/mixed-signal sensor portfolio Transaction overview CY26e revenue ~€230 m analog / mixed-signal sensor business Purchase price €570 m Employees Strategic rationale ~230 employees, thereof ~150 in R&D fab
Slide 11: Broad sensor portfolio to provide best solutions in Auto and Industrial
Infineon serves all markets with a broad sensor portfolio to provide best solutions in Auto and Industrial Automotive Industrial Medical ‒ Radar sensors ‒ Radar sensors ‒ Temperature sensors ‒ Magnetic position sensors ‒ Magnetic position sensors ‒ Conventional and photon counting IC ‒ Magnetic sp
Slide 12: Compelling financial profile of the transaction
Compelling financial profile of the transaction Financial value creation through: Transaction outline: Growth and margin profile in line with 1 ‒ 570m EUR purchase price, all-cash transaction Infineon TOM ‒ Financed through additional debt 2 EPS accretive from day 1 ‒ PMI will follow proven script,
Slide 13: Strengthening robotics sensor solutions with acquired portfolio
Strengthening of Infineon’s leading robotics sensor solutions with acquired portfolio – addressing around 200 sensors Humanoid sensor usage ‒ Broad range of environmental sensors (pressure, vibration, SiMiC, ToF, radar) ‒ Capacitive sensing for dexterous hands, >100 position sensors, e.g. for joints
Slide 14: Undisputed power systems leadership mastering all three key materials
Undisputed power systems leadership mastering all three key materials Reliable multi sourcing Application of raw materials Si/SiC/GaN understanding Packaging know-how and World-scale fabs hybridization competence Controller Driver IC Power switch Software + Algorithms Leadership in Power Systems acr
Slide 15: 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
Slide 16: World's thinnest silicon power wafer
Infineon presents the world’s thinnest silicon power wafer paving the way for more energy efficient power systems Infineon reduces wafer thickness from 40 µm to 20 µm [µm] ‒ Infineon pioneers 20 µm process 180 at high-scale production 160 ‒ Halving thickness also 140 halves resistance, reducing powe
Slide 17: Kulim 3 and the most competitive SiC technology provider
With Kulim 3, Infineon is on track to becoming the industry's most competitive provider of SiC technology SiC raw material supplier network ‒ More than 6 qualified SiC wafer and boule suppliers ‒ Globally diversified and resilient Superior trench technology ‒ 30% more chips per wafer than planar ‒ U
Slide 18: Leader in GaN technology with broadest IP portfolio
Infineon is a leader in GaN technology and can build on the industry’s broadest IP portfolio and application expertise Leading GaN product Broadest IP portfolio MV and HV portfolio in the market applications (~350 patent families) World’s first 300 mm GaN manufacturing Leadership process strengthens
Slide 19: Products essential for AI power supply and data centers
Infineon products are essential for AI power supply and secure operation of data centers – from grid to core and beyond Grid Rack Core Physical AI Energy Storage Uninterruptible Power Solid State Circuit Server Systems (ESS) Supply (UPS-ESS) Breaker (SSCB) Racks Core Renewable Energy Solid State Phy
Slide 20: Infineon at the core of IoT
Infineon at the core of IoT – driving digitalization by serving strongly growing multi-application markets Consumer IoT Industrial IoT Automotive IoT Products: MCU – Connectivity (Wi-Fi, BLE, NFC) – Sensors – Security – Power supply & switches at the core o eon Coin cell- Battery- powered in f Io Po
Slide 22: SBTi approves our CO2 emission reduction targets
Important milestone achieved: The Science Based Targets initiative (SBTi) has approved our CO2 emission reduction targets SBTi validation of Infineon’s 2030 CO2 reduction targets marks a major step in our decarbonization journey − Scope 1 and 2 targets align with the Paris Agreement, limiting global
Slide 23: 2030 carbon neutrality goal aligned with Paris 1.5°C target
Our 2030 carbon neutrality goal is aligned with the Paris Climate Agreement’s 1.5°C target CO2 burden1 CO2 savings2 2.7 million tons of CO2 equivalents 143 million tons of CO2 equivalents Ratio ~1:53 previously 1:45 On the road to carbon neutrality3 we achieved Infineon’s CO2 target3 by 2025 and 203
Slide 24: External recognitions confirm our engagement
External recognitions confirm our engagement in contributing to a sustainable society Rating/Score Scale Date MSCI ESG AA CCC to AAA 04/2026 B climate scoring CDP B water scoring F to A 01/2026 Ecovadis 99th percentile “Platinum” award 0 to 100 09/2025 Dow Jones Best-in-Class Dow Jones Best-in-Class
Slide 26: ATV at a glance
ATV at a glance ATV revenue and segment result margin FY25 revenue split by product group [EUR m]1 Revenue Segment result margin CAGR 11% power (discretes, (FY21 – FY25) modules) 8,242 7,716 7,402 6,516 control & 4,841 29% connectivity 26% 23% 21% 16% analog & FY211 FY221 FY231 FY24 FY25 sensors 1 T
Slide 27: Undisputed automotive MCU leadership further expanded
Infineon‘s undisputed automotive MCU leadership further expanded, overall number one position clearly confirmed Automotive semiconductors (2025 total market: $74,408m; +6.4% y-y) Infineon’s 2025 market share and position by region Infineon 12.8% 16.2% 15.4% NXP 9.6% 12.8% 12.4% 11.5% 10.4% Texas Ins
Slide 28: Content growth drivers in xEV and software-defined vehicles
Several strong content growth drivers for Infineon in xEV and software-defined vehicles, even at flat LV production Structural trends fueling our growth Overview of growth vectors until 2030 xEV 2025 2030 ‒ Strong volume growth of BEVs and PHEVs Share of xEVs ‒ Increasing share of SiC in traction in
Slide 29: World leader in automotive semis benefiting from content growth
Infineon is the world leader in automotive semis, serving all key applications and benefiting strongly from content growth Average semiconductor bill-of-material per car in 2025 and 2030 Semiconductors covered by Infineon Drivetrain applications: ~$1,600 per BEV (up to ~$2,500 for high-end car) ‒ Tr
Slide 30: Number of power MOSFETs per car continues to increase
Number of power MOSFETs per car continues to increase, and drives accelerated growth for the leading portfolio Examples of MOSFET applications Latest portfolio with constant innovation Technologies, packages and voltages OptiMOS 7 40 V Power door Power Brake Electric power BMS Transmission Windshiel
Slide 31: Several design-wins at Geely
Several design-wins at Geely – Infineon’s leading solutions covering all-ranges of vehicle models Geely has adopted AURIXTM for Powertrain, BMS, ZCU, ADAS, Cockpit, etc., and highly recognized AURIX’s outstanding performance in functional safety, real-time processing and automotive-grade stability.
Slide 33: Broad product portfolio and system understanding enable higher BoM
Infineon’s broad product portfolio and system understanding enable higher BoM and allow compact designs and fast T2M Infineon inverter reference design, covering up to 95% of value P2S (product-to-system approach) ‒ Reference design for up to 300 kW, further customization possible OPTIREG 32-bit Buc
Slide 34: Portfolio breadth and customer base lead to sustained growth in SiC
Competitive setup, unmatched portfolio breadth and our worldwide customer base lead to sustained growth in SiC Leading SiC technology and production efficiency Most scalable SiC auto portfolio 650 V 750 V 1,200 V ‒ Unrivaled productivity with most competitive fab and most diversified supplier networ
Slide 35: AURIX TC4x with integrated PPU brings AI-on-the-edge to the battery
Infineon AURIX TC4x with integrated PPU brings AI-on-the-edge to the battery AURIX TC4x Efficient battery cell utilization Battery cost ‒ Higher capacity PPU ‒ Less cells Battery health (parallel processing unit) ‒ Lower battery cost Faster charging High computing performance with complex Charging s
Slide 36: CoolGaN automotive transistor 100 V G1 family
Infineon strengthens its leading position in automotive semis – introducing the CoolGaN automotive transistor 100 V G1 family CoolGaN automotive transistor 100 V G1 family ‒ First GaN transistor family qualified to AEC-Q101 for automotive applications ‒ Features CoolGaN transistors and bidirectional
Slide 38: Software-defined vehicles enabled by safe computing, networks and power distribution
Software-defined vehicles are enabled by safe/secure computing, high-speed in-vehicle networks, and intelligent power distribution new features in monetization of safety and security functions & data Advantages of standardization of new features in comfort, software-defined components connectivity a
Slide 39: Automotive Ethernet portfolio strengthens MCU position
The Automotive Ethernet portfolio strengthens our market leading MCU position and increases offering for zonal architectures Infineon’s unique portfolio of MCU and Ethernet Components of hierarchical E/E architectures: Automotive MCUs Automotive Ethernet High Performance Computing (HPC) Complex sens
Slide 40: Extended portfolio contributes to SDV as second growth pillar
Infineon’s extended portfolio contributes essentially to SDV as the second growth pillar alongside e-mobility Infineon components for hierarchal computing E/E architecture Infineon BoM potent.: ~$500 HPC SoC/ Safety Smart Gate ‒ High-level control for complex, safe MPU* Comp. Power Driver MOSFET Swi
Slide 41: Smart semiconductors in power distribution systems
Smart semiconductors in power distribution systems are key enabler for SDV while ensuring high availability and resilience Infineon PROFET Wire Guard enables SDV Relay replacement Switch e.g. PROFET Wire Guard Fuse ISO 26262 replacement Protect compliant Load status Fast failure isolation Diagnose (
Slide 42: Growth of L1/L2/L2+ main driver of ADAS content
Growth of L1/L2/L2+ is the main driver of ADAS semiconductor content until 2030 Car production by degree of automation (SAE level) Radar is essential to meet decisive requirements of ADAS/AD 100% Distance L0 5 4,5 L0 4 80% 3,5 Lane Detection Speed 3 L1 2,5 2 1,5 60% 1 0,5 0 L1 L1/L2/L2+ Traf
Slide 43: Infineon and Flex launch Zone Control Unit development kit
Infineon and Flex launch Zone Control Unit development kit for software-defined vehicles Modular and scalable Zone Controller Unit platform to fast-track SDV-ready E/E architectures – from concept to series ‒ Joint ZCU development kit with Infineon and Flex hardware and Vector software to accelerate
Slide 45: GIP at a glance
GIP at a glance GIP revenue and segment result margin FY25 revenue split by application [EUR m] Revenue Segment result margin Home Appliance CAGR 1% (FY21 – FY25) Heating, Ventilation, 10% Renewable Air condition Energy 2,205 10% 30% Generation 1,934 1,790 1,542 1,631 30% 21%
Slide 46: Huge potential along entire green energy chain until 2030
Huge potential along entire green energy chain until 2030 according to IEA Net Zero scenario Generation Infrastructure Consumption $600bn annual Photovoltaic + 10,300 GW Grid network Heat pump +420m units investments +200k FC EV Wind power +3,300 GW Grid storage +2100 GW H2 Fuel cell1 +200k FC Truck
Slide 47: Green energy generation provides large business opportunities
Green energy generation provides large business opportunities Power semiconductor content by application 6000 [EUR per MW] [EUR per installation] Mainly SiC 5,000 5,000 Mainly IGBT 5000 4000 3,500 3,500 3000 2,500 2,000 2000 2,000 1,500 1,000 1000 0 100 500 60
Slide 48: Renewables are on average the cheapest source of energy
Renewables are on average the cheapest source of energy [USD/MWh] ⌀ 58-254 USD/MWh 250 -50% Levelized Cost of Energy (USD/MWh) 200 150 ⌀ 31-100 USD/MWh 100 50 0 Nuclear Gas Coal Solar 1 Solar + Storage1 Onshore Wind 1 Costs for Utility-scale installations USA Europe China Based on Wood Mackinzie LCO
Slide 49: Commercial and utility storage solutions with strong growth potential
Commercial and Utility Storage Solutions with strong growth potential Infineon’s semiconductor content for energy storage solutions (ESS) ‒ IGBT discretes ‒ SiC MOSFETs power ‒ Low & medium power modules ‒ High-power modules control & ‒ MCUs >€2,500 per MW connectivity ‒ Connectivity chips analog &
Slide 50: Solid-state transformers: new application for semiconductors
Solid-state transformers: new application for semiconductors with significant additional market potential Conventional transformer Solid-State transformer (SST) EasyPACK ~40x lighter1 ~14x smaller1 ~50% faster ~20 t ~500 kg construction time Conventional transformer market Infineon expects that SST
Slide 51: Solid-state circuit breakers
Solid-state circuit breakers: increased safety, energy efficiency and reliability in power distribution Analog circuit breaker Digital solid-state circuit breaker Traditional electromechanical analog Enables smart energy management: circuit breakers protect electrical circuits - Ultra-fast overload
Slide 52: CoolSiC JFET: most comprehensive SSCB portfolio
Adding CoolSiC JFET to MOSFETs: Infineon offers most comprehensive SSCB portfolio in the industry More than 20 SSCB key customers and first Design-Wins with CoolSiC JFET Q-DPAK with CoolSiC JFET Energy savings ✓ Provides ground-breaking ultra-low RDS(on) 1.5m Ω at 750 V and 2.3 mΩ at 1200 V VBDss Ro
Slide 53: Design-win for Alpitronic's megawatt charging system
Low triple-digit million Euro design-win for Alpitronic‘s centralized megawatt charging system Design win for Alpitronic‘s new HYC1000 centralized hub with charging points – one hub provides power to charge up to 8 EVs simultaneously. Infineon products are enabling >97.5% system efficiency ‒ SiC pow
Slide 55: PSS at a glance
PSS at a glance PSS revenue and segment result margin FY25 revenue split by application [EUR m]1 Revenue Segment result margin Others CAGR 7% (FY21 – FY25) 5% 4,208 Computing 4,070 30% 3,798 3,795 3,268 Industrial 35% 28% 25% 23% 16% 13% 5% Communications 10% 15% F
Slide 56: Significant acceleration of our AI revenues
Significant acceleration of our AI revenues due to most advanced technology and broadest portfolio Infineon is growing together with customers driven by significant AI investments Revenues from powering AI datacenters [EUR m] 3,000 In FY25, our AI server business achieved 2,500 2,500 10x >€700m n
Slide 57: Serving all AI-related power conversion from grid-to-core
With its energy efficient power semiconductors Infineon is serving all AI-related power conversion from grid-to-core Server power flow for Gen 1 / Gen 2 / Gen 3 server rack architecture 400 V AC 48 V DC 12 V / 6 V ~1 V 11 kV AC 800 V DC Power 1st stage 2nd stage supply Power supply unit (PSU) Interm
Slide 58: Innovative 3-phase PSU system solutions
Innovative 3-phase PSU system solutions leverage system expertise and IP to deliver industry-leading performance and efficiency Infineon’s solutions range from 3 kW to 30 kW 30 kW 27 kW 3-phase PFC 16+ kW 3-phase PSU 12 kW 3-phase PSU 8 kW 1-phase PSU η ~97.5% η ~97.5% 100+ W/in3 3.3 kW 1-phase PSU
Slide 59: Broad portfolio of HV & MV IBCs for AI server racks
Infineon offers a broad portfolio of HV & MV IBCs for current and future AI server rack architectures SAM IBC Market Infineon IBC Module for AI Meeting customer requirements [USD m] 1. With a wide range of IBC topologies, Infineon is serving a multitude of data rack configurations CAGR while ensurin
Slide 60: Highest-density VRM modules enable vertical power delivery
Highest-density VRM modules enable true vertical power delivery adjacent to the processor x2 >4 A/mm2 x2 >3 A/mm2 Substrate embedded 2.0 A/mm2 Backside Gen 3 power mounted 1.5 A/mm2 module 2027 Gen 2 power 1.0 A/mm2 2025 module 0.6 A/mm2 Gen 1 power 2024 module Chip embedded 0.4 A/mm2 2024 2021 Mold
Slide 61: We empower humanoids to sense, move, act and connect
We empower humanoids to sense, move, act and connect. Safe and secure. Processing Connectivity MCUs, motor control ICs, Wi-Fi, Bluetooth®, NFC, security ICs Ethernet, EZ-USB Power Storage Power switches incl. Si and GaN, DC-DC conversion, NOR-Flash, SRAM ~$500 voltage regulators Infineon’s addressab
Slide 63: CSS at a glance
CSS at a glance CSS revenue and segment result margin FY25 revenue split by application [EUR m] Revenue Segment result margin Industrial and Consumer IoT CAGR 0% (FY21 – FY25) Industrial IoT 2,046 Smart cards Home 1,822 Appliance 1,397 1,506 1,418 Identification 45% 24% Smart Home 21% 55% Payment 13
Slide 64: Essential building blocks: compute, connectivity, security, software
Providing the essential building blocks compute, connectivity, security, and software Consumer Industrial Automotive Compute Software PSOC and XMC DEEPCRAFT Studio and micro-controllers allow ModusToolbox software customers to enable smart, simplifies and accelerates Sense Actuate connected products
Slide 65: MCUs at the heart of every IoT and Edge AI application
Infineon’s MCUs at the heart of every IoT and Edge AI application New compelling MCU platforms PSOC Edge – Enables a new generation of responsive machine learning devices PSOC PSOC PSOC Edge Control Connect − Broad application range in Edge AI, IoT, Consumer, and Industrial − Strength in low power,
Slide 66: Software with maximal ease of use
Software with maximal ease of use DEEPCRAFT Studio ModusToolbox − Infineon’s Edge AI development platform − Infineon’s modern, extensible − Data collection & pre- development system processing, model training, model conversion & − Collection of development deployment tools, libraries, and embedded r
Slide 67: Broad wireless portfolio for IoT, industrial, and automotive
Enabling connectivity with Infineon’s broad wireless portfolio for IoT, industrial, and automotive applications Wireless connectivity portfolio & advancements in ultra-wideband Wi-Fi AIROC Bluetooth® AIROC − Comprehensive Portfolio: Wi-Fi 4,5,6/6E − Full-featured Bluetooth® portfolio and connected M
Slide 68: Trusted advisor in post-quantum cryptography
As quantum computing rises and introduces high security risks, Infineon serves as a trusted advisor in the PQC landscape. Computing power of quantum computers Infineon‘s post-quantum cryptography approach Computing power First universal quantum Infineon is the first company to Infineon TEGRION produ
Slide 70: 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 FY25 revenue by region1 Revenue by sales channel Distribution Top-10 direct customers2 partners2 EMEA (excl. Americas Germany) 12% 14% Japan 9% Germany 10% Top-10 direct customers Di
Slide 71: Group financial performance
Group financial performance Revenues and Segment Result USD exchange rate [EUR m] Segment result Revenues Segment result margin Average revenue exchange rate +6% +4% 3,943 Q2 Q1 Q2 3,812 FY25 FY26 FY26 3,704 3,662 3,591 ø USD/EUR 1.05 1.16 1.17 Order backlog1 [EUR bn] 25
Slide 72: Automotive (ATV)
Automotive (ATV) Revenues Segment Result [EUR m] Revenues [EUR m] Segment result Segment result margin -2% +0% 1,858 1,870 1,921 1,821 1,830 430 385 403 371 331 20.7% 19.8% 22.4% 22.1% 18.1% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 73: Green Industrial Power (GIP)
Green Industrial Power (GIP) Revenues1 Segment Result1 [EUR m] Revenues [EUR m] Segment result Segment result margin +7% +15% 442 409 403 377 349 72 62 47 41 31 15.2% 16.3% 10.9% 8.9% 11.7% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 74: Power & Sensor Systems (PSS)
Power & Sensor Systems (PSS) Revenues1 Segment Result1 [EUR m] Revenues [EUR m] Segment result Segment result margin +26% 257 +8% 1,210 1,260 197 204 1,171 1,075 176 999 135 18.3% 17.4% 20.4% 13.5% 14.5% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26
Slide 75: Connected Secure Systems (CSS)
Connected Secure Systems (CSS) Revenues Segment Result [EUR m] Revenues [EUR m] Segment result Segment result margin -10% 369 -1% 356 349 321 319 45 40 39 23 18 11.2% 11.2% 12.2% 7.2% 5.6% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 76: Gross margin and Opex
Gross margin and Opex Gross profit R&D SG&A [EUR m] [EUR m] [EUR m] 1,515 1,504 1,477 1,462 1,391 626 612 559 560 565 410 401 409 376 379 38.7% 40.9% 38.1% 39.9% 38.7% 15.6% 15.1% 14.3% 17.1% 16.1% 10.5% 11.1%
Slide 77: 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] 582 541 470 483 484 478 451 463 452 288 442 174 -1,276* -199 -63 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26
Slide 78: Working capital
Working capital, in particular trade working capital components Working capital1 Inventories [EUR m] [EUR m] [days] 4,333 4,280 4,485 4,540 4,141 3,424 3,716 3,568 2,955 3,275 177 176 183 175 153 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2
Slide 79: Development of liquidity and debt
Development of liquidity and debt Capital structure [EUR m] Gross Cash Gross Debt Net Cash/Debt 2,102 2,153 1,687 1,849 1,539 -4,984 -3,445 -5,516 -3,829 -6,829 -4,727 -6,829 -4,980 -7,874 -5,721 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 2026-05-
Slide 80: Return on capital employed
Return on capital employed Historical development 16.6% 12.2% 12.6% 8.4% 8.5% 4.9% 3.0% FY19 FY20 FY21 FY22 FY23 FY24 FY25 2026-05-06 public Copyright © Infineon Technologies AG 2026. 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] EPS basic EPS adjusted 34 37 34 35 34 22 23 18 18 19 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Total cash return to shareholders via divi
Slide 82: Maturity profile
Maturity profile Calendar years 2026 to 2037 [EUR m; USD m; nominal values] $700 $3002 $350 $350 €750 $350 €600 €750 €750 €750 €750 €650 €500 €500 $3503 $235 $250 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 Corporate bonds under the EMTN program US PP 2016 Notes Hybrid bond1 US PP 20
Slide 83: Conservative financial policy and 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 31 March 2026) Gross Cash1 At least 10% of revenue3 14% of revenue → €2.2bn Gross Debt2 ≤ 2.0x EBITDA 2.2x EBITDA Comfortable ‒ Flexibil
Slide 84: Cinfineon
Cinfineon
Slide 85: 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 86: Glossary
Glossary AC alternating current MCU microcontroller unit AD automated driving LV low voltage ADAS advanced driver assistance system MEMS micro electro-mechanical system AI artificial intelligence MOSFET metal-oxide silicon field-effect transistor BBU battery back-up unit MPU micro processing unit BE
Slide 87: Notes and ESG footnotes
Notes and ESG footnotes Investments = 'Investments in property, plant and equipment' + 'Investments in other intangible assets and capitalized developments costs' Adjusted Free Cash Flow Margin = Adjusted for large investments in frontend buildings and major M&A transactions, for full definition see
Slide 88: Financial calendar
Financial calendar Date Event Location 18 May 2026 JPM Global TMT Conference Boston 20 May 2026 Berenberg European Conference New York 20 May 2026 UBS Technology, Media and Internet Conference London 21 May 2026 JPM TMT Conference London 27 May 2026 DB Access Championship Conference Frankfurt 2 June
Slide 89: Investor Relations contacts
Investor Relations contacts Alexander Foltin Daniel Györy Executive Vice President Senior Director Finance, Treasury & Investor Relations Team lead Investor Relations +49 89 234-23766 +49 89 234-35078 alexander.foltin@infineon.com daniel.gyoery@infineon.com Isabell Diel Alexander Groschke Senior Man

Infineon Technologies — Q2 FY2026 Earnings Presentation on 6ix

Infineon Technologies — Q2 FY2026 Earnings Presentation

Slide 1: Second Quarter FY 2026 Quarterly Update

Slide 2: Infineon at a glance

Slide 3: Well-balanced portfolio among segments and key applications

Slide 4: Global player, clear #1 in power semiconductors and automotive semis

Slide 5: Our Target Operating Model

Slide 6: Modular investment approach for long-term value creation

Slide 7: Outlook for Q3 FY26 and FY26

Slide 8: From 4 to 3 divisions: New organizational structure

Slide 9: Well-balanced and simplified business setup

Slide 10: Acquisition of ams OSRAM's analog/mixed-signal sensor portfolio

Slide 11: Broad sensor portfolio to provide best solutions in Auto and Industrial

Slide 12: Compelling financial profile of the transaction

Slide 13: Strengthening robotics sensor solutions with acquired portfolio

Slide 14: Undisputed power systems leadership mastering all three key materials

Slide 15: Leader across all power semiconductor technologies

Slide 16: World's thinnest silicon power wafer

Slide 17: Kulim 3 and the most competitive SiC technology provider

Slide 18: Leader in GaN technology with broadest IP portfolio

Slide 19: Products essential for AI power supply and data centers

Slide 20: Infineon at the core of IoT

Slide 21: ESG: Targets and achievements

Slide 22: SBTi approves our CO2 emission reduction targets

Slide 23: 2030 carbon neutrality goal aligned with Paris 1.5°C target

Slide 24: External recognitions confirm our engagement

Slide 25: Automotive

Slide 26: ATV at a glance

Slide 27: Undisputed automotive MCU leadership further expanded

Slide 28: Content growth drivers in xEV and software-defined vehicles

Slide 29: World leader in automotive semis benefiting from content growth

Slide 30: Number of power MOSFETs per car continues to increase

Slide 31: Several design-wins at Geely

Slide 32: Electromobility

Slide 33: Broad product portfolio and system understanding enable higher BoM

Slide 34: Portfolio breadth and customer base lead to sustained growth in SiC

Slide 35: AURIX TC4x with integrated PPU brings AI-on-the-edge to the battery

Slide 36: CoolGaN automotive transistor 100 V G1 family

Slide 37: Software-defined vehicle

Slide 38: Software-defined vehicles enabled by safe computing, networks and power distribution

Slide 39: Automotive Ethernet portfolio strengthens MCU position

Slide 40: Extended portfolio contributes to SDV as second growth pillar

Slide 41: Smart semiconductors in power distribution systems

Slide 42: Growth of L1/L2/L2+ main driver of ADAS content

Slide 43: Infineon and Flex launch Zone Control Unit development kit

Slide 44: Green Industrial Power

Slide 45: GIP at a glance

Slide 46: Huge potential along entire green energy chain until 2030

Slide 47: Green energy generation provides large business opportunities

Slide 48: Renewables are on average the cheapest source of energy

Slide 49: Commercial and utility storage solutions with strong growth potential

Slide 50: Solid-state transformers: new application for semiconductors

Slide 51: Solid-state circuit breakers

Slide 52: CoolSiC JFET: most comprehensive SSCB portfolio

Slide 53: Design-win for Alpitronic's megawatt charging system

Slide 54: Power & Sensor Systems

Slide 55: PSS at a glance

Slide 56: Significant acceleration of our AI revenues

Slide 57: Serving all AI-related power conversion from grid-to-core

Slide 58: Innovative 3-phase PSU system solutions

Slide 59: Broad portfolio of HV & MV IBCs for AI server racks

Slide 60: Highest-density VRM modules enable vertical power delivery

Slide 61: We empower humanoids to sense, move, act and connect

Slide 62: Connected Secure Systems

Slide 63: CSS at a glance

Slide 64: Essential building blocks: compute, connectivity, security, software

Slide 65: MCUs at the heart of every IoT and Edge AI application

Slide 66: Software with maximal ease of use

Slide 67: Broad wireless portfolio for IoT, industrial, and automotive

Slide 68: Trusted advisor in post-quantum cryptography

Slide 69: Selected financial figures

Slide 70: Strong presence in all regions; well-balanced customer portfolio

Slide 71: Group financial performance

Slide 72: Automotive (ATV)

Slide 73: Green Industrial Power (GIP)

Slide 74: Power & Sensor Systems (PSS)

Slide 75: Connected Secure Systems (CSS)

Slide 76: Gross margin and Opex

Slide 77: Investments, Depreciation & Amortization and Free Cash Flow

Slide 78: Working capital

Slide 79: Development of liquidity and debt