02.08.2016 Infineon Technologies AG  DE0006231004


DGAP-News: Infineon Technologies AG / Key word(s): Quarter Results/Forecast Infineon Technologies AG: AUTOMOTIVE, RENEWABLES AND POWER CONVERSION STRONG 02.08.2016 / 07:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Q3 FY 2016: REVENUE EUR1,632 MILLION; SEGMENT RESULT EUR254 MILLION; SEGMENT RESULT MARGIN 15.6 PERCENT - OUTLOOK FOR Q4 FY 2016: QUARTER-ON-QUARTER REVENUE INCREASE OF 3 PERCENT (PLUS OR MINUS 2 PERCENTAGE POINTS), SEGMENT RESULT MARGIN 17 PERCENT AT MID-POINT OF REVENUE GUIDANCE - GROSS MARGIN 36.6 PERCENT, ADJUSTED GROSS MARGIN 38.1 PERCENT - EARNINGS PER SHARE EUR0.16 (BASIC AND DILUTED), ADJUSTED EARNINGS PER SHARE (DILUTED) EUR0.19 Neubiberg, Germany, August 2, 2016 - Infineon Technologies AG today reported results for the third quarter of its 2016 fiscal year (period ended June 30, 2016). "Revenue, earnings and margin all increased in line with expectations in the third quarter. Demand was particularly strong for our automotive electronics, renewables and power supply solutions. Despite the current contraction of the semiconductor market and contrary to many of our competitors, Infineon has grown once again compared to the prior year's corresponding quarter, reflecting its focus on sub-markets with structural growth. We therefore continue to forecast a long-term compound annual growth rate of 8 percent," stated Dr. Reinhard Ploss, CEO of Infineon. "We are enabling cleaner and safer cars, greener energy and even faster mobile communication. The planned acquisition of Wolfspeed will secure us a decisive technological advantage in the long term and help us grow our system understanding. We are thereby focusing on promising growth areas such as electromobility and the Internet of Things." REVIEW OF GROUP FINANCIALS FOR THE THIRD QUARTER OF THE 2016 FISCAL YEAR Revenue of the Infineon Group increased from EUR1,611 to EUR1,632 million quarter-on-quarter. Contributions to this 1 percent revenue growth were made by the Automotive (ATV), Industrial Power Control (IPC) and Power Management & Multimarket (PMM) segments. As expected, revenue reported by the Chip Card & Security (CCS) segment decreased slightly.
Euro in millions                 Q3 FY16          Q2 FY16  +/- in %

Revenue                           1,632            1,611               1
Segment Result                      254              228              11
Segment Result Margin             15.6%            14.2%
[in %]
Income (loss) from                  184              177               4
continuing operations
Income (loss) from                    2                3            (33)
operations, net of
income taxes
Net income                          186              180               3

in Euro
Basic earnings (loss)              0.16             0.16               -
per share from
continuing operations1
Basic earnings (loss)                 -                -               -
per share from
Basic earnings per                 0.16             0.16               -

Diluted earnings                   0.16             0.16               -
(loss) per share from
continuing operations1
Diluted earnings                      -                -               -
(loss) per share from
Diluted earnings per               0.16             0.16               -

Adjusted earnings per              0.19             0.18               6
share diluted2

Gross margin                      36.6%            35.1%
Adjusted gross margin2            38.1%            36.6%

1 The calculation for earnings per share and for adjusted earnings per share is based on unrounded figures. 2 The reconciliation of net income to adjusted net income and adjusted earnings per share as well as of cost of goods sold to adjusted cost of goods sold and adjusted gross margin can be found in the quarterly information at www.infineon.com. The gross margin improved quarter-on-quarter from 35.1 percent to 36.6 percent. The third-quarter figure includes acquisition-related depreciation and amortization and other expenses attributable to the International Rectifier acquisition totaling EUR24 million. The adjusted gross margin amounted thus to 38.1 percent after 36.6 percent in the prior quarter. Segment Result increased by 11 percent from EUR228 million to EUR254 million quarter-on-quarter. The Segment Result Margin for the third quarter improved to 15.6 percent, compared with 14.2 percent in the preceding quarter. The non-segment result for the three-month period was a net loss of EUR61 million, compared with a net loss of EUR54 million in the previous quarter. Of this result, EUR24 million related to the cost of goods sold, EUR2 million to research and development expenses and EUR27 million to selling, general and administrative expenses. Other operating income and other operating expenses amounted to a net expense of EUR8 million. The non- segment result includes EUR48 million of depreciation and amortization arising in conjunction with the purchase price allocation and other expenses for post-merger integration measures relating to the acquisition of International Rectifier. Operating income increased from EUR174 million in the second quarter to EUR193 million in the third quarter of the current fiscal year. Income from continuing operations totaled EUR184 million, compared with EUR177 million in the second quarter. Income from discontinued operations amounted to EUR2 million, compared with EUR3 million in the preceding quarter. Net income increased from EUR180 million to EUR186 million quarter-on-quarter. The figure for the second quarter included EUR21 million of tax income, compared with EUR3 million recorded in the third quarter. Tax income primarily results from the reduction of deferred tax liabilities relating to the acquisition of International Rectifier and from the revaluation of deferred tax assets relating to German and foreign entities. Earnings per share (basic and diluted) remained unchanged at EUR0.16 in the third quarter. Adjusted earnings per share (diluted) improved from EUR0.18 in the second quarter of the current fiscal year to EUR0.19 in the third. For the purpose of calculating adjusted earnings per share (diluted), a number of items were eliminated, most notably acquisition-related depreciation/amortization and other expenses (net of tax) as well as valuation allowances on deferred tax assets. Investments - which Infineon defines as the sum of purchases of property, plant and equipment, purchases of intangible assets and capitalized development assets - increased from EUR163 million in the second quarter to EUR220 million in the third quarter of the current fiscal year. Third- quarter depreciation and amortization decreased slightly to EUR206 million, compared with EUR213 million in the preceding quarter. Free cash flow from continuing operations improved sharply, rising quarter- on-quarter from EUR45 million to EUR277 million. Net cash provided by operating activities from continuing operations increased from EUR195 million to EUR496 million. The gross cash position increased to EUR2,083 million at the end of the third quarter, compared to EUR1,803 million at March 31, 2016. The net cash position rose accordingly from EUR27 million to EUR299 million over the three-month period. OUTLOOK FOR THE FOURTH QUARTER OF THE 2016 FISCAL YEAR In the fourth quarter of the 2016 fiscal year, Infineon expects quarter-on- quarter revenue growth of 3 percent (plus or minus 2 percentage points). This forecast is based on an assumed exchange rate of US$ 1.10 to the euro. At the mid-point of the forecast revenue range, the Segment Result Margin is expected to come in at 17 percent. OUTLOOK FOR THE 2016 FISCAL YEAR Based on the outlook for the fourth quarter, revenue growth and Segment Result Margin for the full 2016 fiscal year are expected to end up within the range forecast in the preceding quarters. Investments in property, plant and equipment, intangible assets and capitalized development costs are planned in the region of an unchanged EUR850 million for the 2016 fiscal year. Based on expected full-year revenue, the ratio for investments as a percentage of forecast revenue is expected to be approximately 13 percent. Depreciation and amortization are forecast to be in the region of EUR850 million. Infineon's segments' performance in the third quarter of the 2016 fiscal year can be found in the quarterly information at www.infineon.com. All figures in this quarterly information are preliminary and unaudited. ANALYST AND PRESS TELEPHONE CONFERENCE Infineon will host a telephone conference call for analysts and investors (in English only) on August 2, 2016 at 9:30 am (CEST), 3:30 am (EDT). During the call, the Infineon Management Board will present the Company's results for the third quarter of the 2016 fiscal year. In addition, the Management Board will host a live telephone conference with the media at 11:00 am (CEST), 5:00 am (EDT). It can be followed over the Internet in both English and German. Both conferences will also be available live and for download on Infineon's website at www.infineon.com/investor. The Q3 Investor Presentation is available (in English only) at: http:// www.infineon.com/cms/en/corporate/investor/reporting/index.html INFINEON FINANCIAL CALENDAR (* preliminary) - Sep 1, 2016 Commerzbank Sector Week, Frankfurt - Sept 6 - 7, 2016 Citi Global Technology Conference, New York - Sept 8 - 9, 2016 Deutsche Bank European TMT Conference, London - Sept 19, 2016 Berenberg Bank and Goldman Sachs German Corporate Conference, Munich - Sep 21, 2016 Baader Investment Conference, Munich - Nov 16 - 17, 2016 Morgan Stanley TMT Conference, Barcelona - Nov 23, 2016* Earnings Release for the Fourth Quarter and 2016 Fiscal Year - Nov 29 - 30, 2016 Credit Suisse TMT Conference Scottsdale (AZ) - Feb 2, 2017* Earnings Release for the First Quarter of the 2017 Fiscal Year - Feb 16, 2017 Annual General Meeting 2017, Munich - May 4, 2017* Earnings Release for the Second Quarter of the 2017 Fiscal Year - Aug 1, 2017* Earnings Release for the Third Quarter of the 2017 Fiscal Year - Nov 30, 2017* Earnings Release for the Forth Quarter of the 2017 Fiscal Year ABOUT INFINEON Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2015 fiscal year (ending September 30), the Company reported sales of about EUR5.8 billion with some 35,400 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at www.infineon.com This press release is available online at www.infineon.com/press Follow us: twitter.com/Infineon - facebook.com/Infineon - plus.google.com/ +Infineon D I S C L A I M E R This press release 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. Due to rounding, numbers presented throughout this press release and other reports may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. --------------------------------------------------------------------------- 02.08.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Infineon Technologies AG Am Campeon 1-12 85579 Neubiberg Germany Phone: +49 (0)89 234-26655 Fax: +49 (0)89 234-955 2987 E-mail: [email protected] Internet: www.infineon.com ISIN: DE0006231004 WKN: 623100 Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 488373 02.08.2016

Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 5.795,00 6.473,00 7.063,00 7.599,00 8.000,00 8.567,00 0,00
EBITDA1,2 1.315,00 1.596,00 1.795,00 2.330,00 2.360,00 1.841,00 0,00
EBITDA-Marge3 22,69 24,66 25,41 30,66 29,50 21,49 0,00
EBIT1,4 555,00 763,00 983,00 1.469,00 1.380,00 581,00 0,00
EBIT-Marge5 9,58 11,79 13,92 19,33 17,25 6,78 0,00
Jahresüberschuss1 634,00 743,00 790,00 1.075,00 1.080,00 368,00 0,00
Netto-Marge6 10,94 11,48 11,19 14,15 13,50 4,30 0,00
Cashflow1,7 817,00 1.313,00 1.728,00 1.575,00 1.605,00 1.811,00 0,00
Ergebnis je Aktie8 0,56 0,66 0,70 0,95 0,75 0,26 1,02
Dividende8 0,20 0,22 0,25 0,27 0,27 0,22 0,26
Quelle: boersengefluester.de und Firmenangaben

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1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

WKN Kurs in € Einschätzung Börsenwert in Mio. €
623100 36,800 Halten 48.057,90
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
28,53 25,37 1,12 62,91
5,51 26,54 5,61 28,57
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
0,27 0,22 0,60 25.02.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
04.02.2021 04.05.2021 03.08.2021 23.11.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
6,98% 9,23% 17,23% 53,88%
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Halbleiter , 623100 , IFX , XETR:IFX