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02.05.13 05:30
PRESS RELEASE: Infineon Technologies AG: -2-

PRESS RELEASE: Infineon Technologies AG: Second-quarter revenue and Segment Result significantly above previous quarter

 
DGAP-News: Infineon Technologies AG / Key word(s): Quarter 
Results/Half Year Results 
Infineon Technologies AG: Second-quarter revenue and Segment Result 
significantly above previous quarter 
 
02.05.2013 / 07:30 
 
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  - Q2 FY 2013: Revenue EUR918 million; Segment Result EUR68 million 
 
  - Outlook for Q3 FY 2013: Revenue of about EUR1 billion and Segment 
    Result Margin of approximately 10 percent 
 
  - Outlook FY 2013: Revenues and Segment Result Margin expected at the 
    upper end of the previously guided range 
 
Neubiberg, Germany - May 2, 2013. Infineon Technologies AG today reported 
results for the second quarter of the 2013 fiscal year, ended March 31, 
2013. 
 
<pre> 
 
in Euro million                                 Q2 FY13   Q1 FY13  +/- in % 
 
Revenue                                             918       851         8 
Segment Result                                       68        44        55 
Segment Result Margin [in %]                       7.4%      5.2% 
Income (loss) from continuing operations             36        26        38 
Income (loss) from discontinued operations,         (3)       (7)        57 
net of income taxes 
Net income                                           33        19        74 
 
in Euro 
Basic earnings (loss) per share from               0.03      0.02        50 
continuing operations1 
Basic earnings (loss) per share from                ---       ---       --- 
discontinued operations1 
Basic earnings per share1                          0.03      0.02        50 
 
Diluted earnings (loss) per share from             0.03      0.02        50 
continuing operations1 
Diluted earnings (loss) per share from              ---       ---       --- 
discontinued operations1 
Diluted earnings per share1                        0.03      0.02        50 
 
 
 
</pre> 
 
1 The calculation for earnings per share is based on unrounded figures. 
 
'Revenues and margin have recovered nicely over the past quarter. The 
trough is behind us. Our order books are filling up, albeit still with a 
relatively high proportion of short term business. We therefore expect a 
further rise in revenue and margin in the current quarter', stated Dr. 
Reinhard Ploss, CEO of Infineon Technologies AG. 'As forecast last 
November, our markets are growing significantly in the second half of the 
fiscal year. Based on the outlook for the third quarter and on first-half 
results, we expect to reach the upper end of our guided range for the full 
year.' 
 
REVIEW OF GROUP FINANCIALS FOR THE SECOND QUARTER OF THE 2013 FISCAL YEAR 
 
The Infineon Group reported revenue of EUR918 million for the second 
quarter of the 2013 fiscal year, 8 percent up on the EUR851 million 
recorded in the previous quarter. The increase was partly the consequence 
of a return to more normalized revenue levels in the Automotive segment 
(ATV). Second-quarter revenues of the Industrial Power Control (IPC) and 
Power Management & Multimarket (PMM) were also slightly higher than in the 
previous quarter. Revenue reported by the Chip Card & Security segment 
(CCS) was flat quarter-on-quarter. 
 
Segment Result improved by EUR24 million from EUR44 million in the first 
quarter of the 2013 fiscal year to EUR68 million in the quarter under 
report. The Segment Result Margin rose from 5.2 percent to 7.4 percent. The 
improvement in Segment Result primarily reflects higher revenue and 
continued cost control. The margin expansion was dampened by price 
reductions in volume purchase agreements that came into effect as usual at 
the beginning of the calendar year. 
 
Income from continuing operations in the second quarter of the 2013 fiscal 
year amounted to EUR36 million, compared with EUR26 million recorded in the 
previous quarter. The second-quarter loss from discontinued operations was 
EUR3 million, following a EUR7 million loss reported in the first quarter. 
Net income improved quarter-on-quarter from EUR19 million to EUR33 million. 
Earnings per share increased to EUR0.03 as compared to EUR0.02 one quarter 
earlier (basic and diluted). 
 
Investments - which the Company defines as the sum of purchases of 
property, plant and equipment, purchases of intangible assets and 
capitalized research and development assets - went down from EUR88 million 
in the first quarter to EUR65 million in the second. Depreciation and 
amortization was unchanged at EUR116 million. 
 
Free cash flow from continuing operations increased from negative EUR128 
million in the first quarter of the 2013 fiscal year to positive EUR73 
million in the second, an improvement of EUR201 million, with most of the 
improvement attributable to the sharp increase in the cash inflow from 
operating activities (up by EUR178 million) and lower investments (down by 
EUR23 million). 
 
Shareholders approved the dividend proposed by management to the Annual 
General Meeting held on February 28, 2013. Accordingly, a dividend of 
EUR0.12 per share, unchanged from the previous year, was paid on March 1, 
2013. The total amount of the distribution was EUR129 million. 
 
The positive free cash flow on the one hand and the payment of the dividend 
on the other resulted in an overall slight decrease in cash and cash 
equivalents. The gross cash position at March 31, 2013 amounted to EUR2.016 
billion compared to EUR2.081 billion at December 31, 2012. The net cash 
position at the end of the quarter was EUR1.705 billion compared to 
EUR1.768 billion three months earlier. 
 
During the period from October 2010 to March 2013, Infineon had a total of 
EUR687 million cash out for dividends, share and convertible bond 
repurchases. Overall, dividends paid for the fiscal years 2010 to 2012 
totaled EUR368 million. Over the course of the capital return program which 
expired on March 31, 2013, Infineon repurchased EUR128 million worth of 
convertible bonds due May 2014 with a nominal amount of EUR47 million and 
13 million own shares for EUR84 million. Prior to the capital return 
program, during the period from October 2010 to March 2011, Infineon also 
had repurchased convertible bonds with a nominal amount of EUR36 million 
for EUR107 million. Overall, the diluted number of shares was reduced by 49 
million or 4.5 percent as a result of repurchases of convertible bonds and 
shares since October 2010. 
 
OUTLOOK FOR THE THIRD QUARTER OF THE 2013 FISCAL YEAR 
Based on an assumed exchange rate of 1.30 US dollars to the euro (unchanged 
from the previous quarter), Infineon forecasts third-quarter revenue of 
about EUR1 billion, with all segments expected to contribute to revenue 
growth. The Group's Segment Result Margin for the third quarter is forecast 
at approximately 10 percent of revenues. 
 
OUTLOOK FOR 2013 FISCAL YEAR: REVENUE AND SEGMENT RESULT MARGIN EXPECTED AT 
THE UPPER END OF OUR PREVIOUSLY GUIDED RANGE 
Based on first-half results and the outlook for the third quarter, the 
Management Board expects the fiscal year's revenue decline compared to the 
previous year at the upper end of the mid-to-high single digit percentage 
range previously announced. Thus the Segment Result Margin for the 2013 
fiscal year is expected to be at the upper end of the mid-to-high single 
digit percentage range guided thus far. 
 
In terms of revenue growth compared to the previous fiscal year, the ATV, 
PMM and CCS segments are expected to fare better than the Group average in 
the fiscal year 2013, whereas IPC is expected to suffer from a revenue 
decline significantly higher than the Group average. Revenue of the OOS 
segment will again fall sharply, as goods and services sold relating to the 
previously sold Wireline Communications and Wireless mobile phone 
businesses continue to decrease as planned. This forecast is based on an 
assumed exchange rate of 1.30 US dollars to the euro. 
 
Investments in the 2013 fiscal year will be in the region of EUR400 million 
and compare with a depreciation and amortization expense of approximately 
EUR470 million. 
 
Infineon segments' performance in the second quarter of the 2013 fiscal 
year can be found in the quarterly information at http://www.infineon.com 
 
All figures in this quarterly information are preliminary and unaudited. 
 
ANALYST AND PRESS TELEPHONE CONFERENCES 
Infineon will host a telephone conference call for analysts and investors 
(in English only) on May 2, 2013 at 10:00 am (CEST), 4:00 am (EDT). During 
the call, the Infineon Management Board will present the Company's results 
from the second quarter of the 2013 fiscal year. In addition, the 
Management Board will host a telephone conference with the media at 11:30 
am (CEST), 5:30 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 Q2 Investor Presentation is available (in English) at: 
http://www.infineon.com/cms/en/corporate/investor/reporting/index.html 
 
INFINEON FINANCIAL CALENDAR (*preliminary) 
 
  - Jun 3-4, 2013 Bank of America Merrill Lynch Global Tech Conference, San 
    Franciso 
 
  - Jun 11, 2013 Conference Call by Stefan Hofschen, Division President, 
    Chip Card & Security 
 
  - Jun 18, 2013 JPMorgan CEO Conference, London 
 
  - Jul 30, 2013* Earnings Release for the Third Quarter of the 2013 Fiscal 
    Year 
 
  - Aug 28, 2013 Commerzbank Sector Conference Week, Frankfurt 
 
  - Sep 3, 2013 Deutsche Bank European TMT Conference, London 
 
  - Sep 18, 2013 Conference Call by Jochen Hanebeck, Division President, 
    Automotive 
 
  - Sep 24, 2013 Berenberg Bank and Goldman Sachs German Corporate 
    Conference, Munich 
 
  - Sep 25, 2013 Baader Investment Conference, Munich 
 
  - Nov 12, 2013* Earnings Release for the Fourth Quarter and Full 2013 
    Fiscal Year 
 
  - Nov 18-19, 2013 Company roadshow - including presentation by Andreas 
    Urschitz, Division President, Power Management & Multimarket (PMM), 
    London 
 
  - Nov 20-22, 2013 Morgan Stanley TMT Conference, Barcelona 
 
ABOUT INFINEON 

(MORE TO FOLLOW) Dow Jones Newswires

May 02, 2013 01:30 ET (05:30 GMT)

PRESS RELEASE: Infineon Technologies AG: -2-

Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and 
system solutions addressing three central challenges to modern society: 
energy efficiency, mobility, and security. In the 2012 fiscal year (ending 
September 30), the Company reported sales of EUR3.9 billion with close to 
26,700 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). 
 
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. 
 
 
End of Corporate News 
 
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02.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a 
company of EquityStory AG. 
The issuer is solely responsible for the content of this announcement. 
 
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Media archive at www.dgap-medientreff.de and www.dgap.de 
 
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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:      investor.relations@infineon.com 
Internet:    www.infineon.com 
ISIN:        DE0006231004 
WKN:         623100 
Indices:     DAX 
Listed:      Regulierter Markt in Frankfurt (Prime Standard); 
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, 
             München, Stuttgart; Terminbörse EUREX 
 
 
End of News    DGAP News-Service 
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209209 02.05.2013 
 

(END) Dow Jones Newswires

May 02, 2013 01:30 ET (05:30 GMT)


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