Deutsche Bank TMT Conference

Transcription

1 Deutsche Bank TMT Conference London, 03 September 2013 Dominik Asam Chief Financial Officer

2 Table of Contents Overview Growth Drivers Financials and Outlook Disclaimer: This presentation contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group. These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business development may therefore differ materially from what has been expected. Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements.

3 Revenue Split by Division Q3 FY 2013 revenue: EUR 1,022m ATV 459m CCS 119m PMM 266m IPC 173m OOS+C&E * 5m * Other Operating Segments; Corporate and Eliminations. Page 3

4 Revenue above EUR 1bn; Segment Result Margin Back above 10% [EUR m] Q3 FY12 Q2 FY13 Q3 FY13 Revenue ,022 Segment Result SR Margin 12.7% 7.4% 11.4% [EUR m] Net Income * Investment Q2 FY13 Revenue 117 Q3 FY13 Segment Result FCF from cont. operations Gross Cash 2,150 2,016 2,137 Net Cash 1,907 1,705 1,832 * Net Income includes income/loss from discont. operations, net of income taxes in Q3 FY12 EUR -8m, in Q2 FY13 EUR -3m and in Q3 FY13-5m. Page 4

5 Tight Customer Relationships are Based on System Know-how and App Understanding ATV IPC PMM CCS Distributors Page 5

6 Infineon Holds Top Positions in All Target Markets Automotive Power Chip Card #2 #1 #1 Renesas 14% Infineon 12% Infineon 25% Infineon 9% Mitsubishi 8% NXP 24% STMicro 8% Toshiba 7% Samsung 21% Freescale 7% STMicro 6% STMicro 18% NXP 6% Int. Rectifier 5% SHHIC 10% Calendar year Source: Strategy Analytics, April Calendar year Source: IMS Research (an IHS company), July Calendar year Source: IMS Research (an IHS company), August Page 6

7 Table of Contents Overview Growth Drivers Financials and Outlook

8 Despite Europe, Global Car Production Up in 2013; Long-Term Prospects Still Healthy Global car production (cars 6t) [units m] (12-16) = 4.2% % ,9 8, , ,3 7,7 7,7 7, ,7 6,0 6,1 8,1 8,3 15,4 16,0 16,9 6,4 6,6 9,4 8,9 14,5 9,1 7,9 13,4 10,8 11,5 12,8 12,6 17,1 17,6 18,6 20,4 22,6 24,8 26,6 28,1 29,2 11,9 13,1 15,4 16,2 16,6 17,2 17,8 17,8 17,9 19,0 20,2 19,3 18,9 19,5 20,3 21,1 22,0 22, Europe North America China APAC ex China Japan RoW. Source: IHS, July Page 8

9 Semi Content Per Car Continues to Increase Semiconductor value per car by region Semiconductor value per car [USD] Brazil % [USD] World % China S. Korea N. America Europe Japan % +2.5% +2.2% +3.0% +2.2% Semiconductor market by segment [USD bn] Powertrain Safety* Body** Infotainment % +8.2% +5.9% +7.0% Source: Strategy Analytics (SA): Automotive Semiconductor Demand Forecast , July 2013; including semiconductor sensors. * Safety = Safety + Chassis according to SA definition. ** Body = Body + Security according to SA definition. Page 9

10 Growth in Motor Controls Driven by Energy Saving, Government Initiatives and Legislation Industrial motor controls Market description [USD bn] 40 (12-16) = 8.2% Others Food & beverage, medical & scientific, semiconductor machinery, printing sector. Comparatively low IGBT content Servo Drives High precision motors for general motion control and CNC products. 600/1200 V IGBT devices. 10 Medium Voltage Drives Heavy industries (oil & gas, metals, power generation). High-power drives (up to 10 MW). 1.7/3.3/6.5 kv IGBT modules AC Drives Med. Voltage Drives Servo Drives others AC Drives Fans, pumps, material handling, packaging. Mainly 600/1200 V IGBT devices used. Source: IHS (IMS Research): The World Market for Industrial Automation Equipment July 2013 Update, July Page 10

11 Growth in Servers Compensates Slowdown in PCs and Notebooks PCs Notebooks PCs and Notebooks Servers [units m] 200 (12-16) = -2.7% [units k] (12-16) = 4.6% (12-16) = -7.7% Source: Gartner: Desktop-Based PCs, Notebooks, Ultramobiles and Tablets, Worldwide: , 2Q13 Update, July Source: Gartner: Forecast: Servers, All Countries, , 2Q13 Update, July Page 11

12 Our Business With RF Components, Si-Mics and Power Semis Fuelled by Mobile Devices Smartphones Tablets * [units m] 1400 (12-16) = 16.4% [units m] 500 (12-16) = 36.2% Source: Strategy Analytics: Global Smartphone Sales Forecast for 88 Countries: 2007 to 2017, July The chart was created by Infineon based on Gartner research. Source: Gartner: Forecast: Desk-based PCs, Notebooks, Ultramobiles, and Tablets, Worldwide, , 2Q13 Update, July * Including Utility Tablets, Basic Tablets and Premium Tablets. Page 12

13 Table of Contents Overview Growth Drivers Financials and Outlook

14 Return to Year-on-Year-Growth and > 10% Segment Result Margin Revenue and Segment Result [EUR m] +3% FY 2012 revenue split by product category % 12% 5% 7% 11% Q3 FY12 Q Q1 FY13 Q2 117 Q3 Power econtrol others Revenue Segment Result Segment Result Margin Page 14

15 Record Sales in ATV; IPC Returned to More Normal Levels; Nice Margin Recovery in PMM Courtesy: Daimler AG ATV IPC PMM CCS [EUR m] +7% [EUR m] [EUR m] [EUR m] % +14% 13% 11% 5% 9% 11% % 14% -4% -2% 8% % 14% 15% 10% 12% 17% % 14% 9% 7% 8% Q3 FY12 Q4 Q1 FY13 Q2 Q3 Q3 FY12 Q4 Q1 FY13 Q2 Q3 Q3 FY12 Q4 Q1 FY13 Q2 Q3 Q3 FY12 Q4 Q1 FY13 Q2 Q3 Revenue Segment Result Segment Result Margin Page 15

16 Investments Average ~15% of Sales Over a Cycle Investments in FY 2009 FY Average investments-to-sales* (FY09 FY13) % just under 400 FY 2009 FY 2010 FY 2011 FY 2012 FY % 20% 15% 10% 5% 0% reported Capex guided investments int. assets, cap. R&D Capex-to-sales [%] * Total investments (FY09 FY13): 2.597m. Total sales (FY09 FY13): m. Page 16

17 Guidance for Q4 FY13 and FY 2013 Outlook Q4 FY13 Outlook FY 2013 (compared to FY 2012) Revenue About EUR 1,050m. Decline of about 1.5%. Segment Result Margin About 13%. Just under 10%. Investments in FY 2013 Just under EUR 400m. D&A in FY 2013 About EUR 470m. Page 17

18

19 Financial Calendar Date Location Event 18 Sep 2013 Conference Call by Jochen Hanebeck Division President, Automotive 24 Sep 2013 Munich Berenberg Bank and Goldman Sachs German Corporate Conference 25 Sep 2013 Munich Baader Investment Conference 12 Nov 2013* Q4 FY13 and FY 2013 Results Nov 2013 London Company Roadshow including presentation by Andreas Urschitz Division President, Power Management & Multimarket Nov 2013 Barcelona Morgan Stanley TMT Conference Dec 2013 Scottsdale, AZ Credit Suisse Technology Conference * provisional Page 19

20 Institutional Investor Relations Contact Ulrich Pelzer Corporate Vice President Finance, Treasury & Investor Relations Joachim Binder Senior Director Investor Relations Holger Schmidt Manager Investor Relations Bernard Wang Manager Investor Relations 31 July 2012 Copyright Infineon Technologies All rights reserved. Page 20 Page 20