Infineon Technologies Ag · XETR:IFX
Infineon Technologies — Shareholder Meeting (February 2017)
17 slides from Infineon Technologies's shareholder meeting presentation, Feb 16, 2017
Slide 1: Annual General Meeting of Infineon Technologies AG
Annual General Meeting of Infineon Technologies AG Dominik Asam, Chief Financial Officer Infineon Technologies AG Munich, February 16, 2017
Slide 2: Infineon Group Results for FY 2016 vs. FY 2015
Infineon Group Results for FY 2016 vs. FY 2015 [€ million] FY 2015 FY 2016 +12% Revenue 5,795 6,473 6,473 +9% 5,795 Gross Margin 35.9% 36.0% Segment Result 897 982 982 Income from Continuing 622 741 Operations 897 Gain from discontinued operations, net of 12 2 15.5% 15.2% income taxes Net Income 634
Slide 3: Growth in all four segments: Revenue and Segment Result FY 2016 vs. FY 2015
Growth in all fours segments: Revenue and Segment Result FY 2016 vs. FY 2015 [€ million] Automotive Industrial Power Control Revenue Segment Result Revenue Segment Result 2015 2,350 331 2015 971 115 2016 2,651 396 2016 1,073 126 Power Management & Chip Card & Security Multimarket Revenue Segment Res
Slide 4: Revenue by Regions
Revenue by Regions Revenue [€ million] Revenue Share FY 2016 Europe, Europe (w/o Germany), 2,020 Middle East, U.S. Middle East, Africa Africa 2,147 Americas (w/o U.S.) 942 … thereof Germany 10% 1,000 18% Japan 3% Asia-Pacific 2,666 6% (w/o Japan) 3,083 1,337 … thereof China 15% Germany 1,574 399 24%
Slide 5: Operating expenses
Operating expenses Research and development Selling, general and expenses administrative expenses [€ million] [€ million] 770 778 791 717 12.4% 11.9% 13.4% 12.2% FY 2015 FY 2016 As % of FY 2015 FY 2016 Revenue Annual General Meeting 2017 Copyright © Infineon Technologies AG 2017. All rights reserved
Slide 6: Revenue and Segment Result
Revenue and Segment Result [€ million] [Segment Result Margin in %] 7, 000 6,473 30% 6, 000 5,795 25% 5, 000 20% 4, 000 15.5% 15.2% 15% 3, 000 10% 2, 000 1, 000 5% 897 982 0 0% FY 2015 FY 2016 Segment Result Revenue SegmentRevenue Result Segment Result Margin Annual General Meeting 2017 Copyright ©
Slide 7: Free Cash Flow and Investments
Free Cash Flow and Investments [€ million] [393](1) 490 FY 2015 FY 2016 Investments in property, plant and 646 716 equipment -1,654 Investments in 139 110 intangible assets Free Cash Flow FY 2015 FY 2016 (1) Free cash flow from continuing operations excluding special effects. The special effects in
Slide 8: Key Balance Sheet Figures
Key Balance Sheet Figures [€ million] As at September 30 2015 2016 Gross Cash Position 2,013 2,240 471 Debt 1,793 1,769 Net Cash Position 220 471 Non-current assets 4,626 4,595 220 Non-current liabilities 2,491 2,534 Provisions 474 403 Of which: related to 41 32 Qimonda insolvency Net Cash Position
Slide 9: Return on Capital Employed After Tax
Return on Capital Employed After Tax [€ million] [RoCE in %] 6,000 16% 5,176 5,334 5,000 15.0% 15% 4,000 3,000 14% 2,000 13% 1,000 12.8% 664 799 0 12% FY 2015 FY 2016 2) Capital employed 1) NOPAT RoCE in % 3) 1) Capital Employed: Non-current assets plus net working capital 2) NOPAT: Net Operating Pr
Slide 10: Performance of Infineon shares (Oct. 2015 – Feb. 2017) compared to DAX and SOX
Performance of Infineon shares (Oct. 2015 – Feb. 2017) compared to DAX and SOX 190% 180% +73% 170% 160% +62% 150% 140% 130% 120% +22% 110% 100% 90% October-15 January-16 April-16 July-16 October-16 January-17 IFX DAX SOX Source: Bloomberg, February 9, 2017 Annual General Meeting 2017 Copyright © Inf
Slide 11: Proposal to increase the dividend by 10 percent to 22 euro cents per share
Proposal to increase the dividend by 10 percent to 22 euro cents per share [euro cents] 22 20 18 12 12 12 10 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Annual General Meeting 2017 Copyright © Infineon Technologies AG 2017. All rights reserved. 11
Slide 12: Outlook for the 2017 fiscal year
Outlook for the 2017 fiscal year Outlook FY 2017 (compared to FY 2016) Increase of 6% Revenue +/- 2 percentage points 16% Segment Result Margin At the mid-point of the revenue range Annual General Meeting 2017 Copyright © Infineon Technologies AG 2017. All rights reserved. 12
Slide 13: Positive effects from acquisition of the shares in MoTo Objekt Campeon GmbH & Co. KG
Positive effects from acquisition of the shares in MoTo Objekt Campeon GmbH & Co. KG from FY 2017 onwards After [€ million] FY 2017 FY 2017 Net purchase -112 price* Effect on 20-30 Free Cash Flow Amount in the Amount in the Effect on Segment low double- low double- Result digit million digit million
Slide 14: Balanced and long-term maturity profile of financial liabilities
Balanced and long-term maturity profile of financial liabilities Financing for the acquisition of International Rectifier › Maturity profile significantly 1› Refinancing of the EUR tranche March 2015: Infineon’s first Eurobonds replace €800 million improved bridge financing › Increased financing fle
Slide 15: S&P confirms investment grade rating
S&P confirms investment grade rating Capital structure objective Current status Investment grade rating Rating by S&P: BBB (outlook “stable”) Gross cash position: €1 billion + 18% of Revenue* €1 billion + 10-20% of Revenue Gross debt: 1.3 x EBITDA* max. 2.0 x EBITDA * Gross cash position and gross d
Slide 16: Infineon is growing faster than the semiconductor market
Infineon is growing faster than the semiconductor market Financial targets through the cycle [€ million] Financial targets through the cycle +7% 6,473 ~8% Revenue growth ~0% ~17% 1) 6,072 296,383 295,996 Segment Result Margin Infineon Revenue Global Semiconductor Market 2) FY 2015 FY 2016 ~13% Inves
Slide 17: Part of your life. Part of tomorrow.
Part of your life. Part of tomorrow. infineon
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