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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Infineon Technologies Ag | NYSE:IFX | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
SIGNATURES |
| For the fourth quarter of the 2008 fiscal year, Infineon reported revenues of Euro 1,153 million. |
| Infineons EBIT was negative Euro 220 million in the quarter, compared to positive Euro 71 million in the prior quarter. Infineons fourth quarter EBIT included net charges of Euro 253 million, of which Euro 166 million arose in connection with the companys IFX10+ cost-reduction program. Third quarter EBIT included a net gain of Euro 41 million, mainly in connection with the sale of the companys Hard Disk Drive business. |
| Infineons total Segment Profit** was Euro 59 million under International Financial Reporting Standards (IFRS)** in the fourth quarter. |
| For the fourth quarter, net loss from continuing operations was Euro 244 million, or Euro 0.33 per share (basic and diluted). |
| The loss from discontinued operations, net of tax, was Euro 519 million for the fourth quarter. Basic and diluted loss per share from discontinued operations was Euro 0.69. |
| For the fourth quarter, Infineon reported group net loss of Euro 763 million, and basic and diluted loss per share of Euro 1.02. |
3 months | year-on- | 3 months | 3 months | |||||||||||||||||
ended | year | ended | sequential | ended | ||||||||||||||||
in Euro million | Sep 30, 07 | +/- in % | Jun 30, 08 | +/- in % | Sep 30, 08 | |||||||||||||||
Revenue
|
1,127 | 2 | % | 1,029 | 12 | % | 1,153 | |||||||||||||
Organic growth on constant currency (in %)
|
| 4 | % | | 10 | % | | |||||||||||||
Infineon EBIT
|
60 | | 71 | | (220 | ) | ||||||||||||||
Income (loss) from continuing operations
|
28 | | 45 | | (244 | ) | ||||||||||||||
Loss from discontinued operations, net of tax
|
(308 | ) | (68 | )% | (637 | ) | 19 | % | (519 | ) | ||||||||||
Net loss
|
(280 | ) | | (592 | ) | (29 | %) | (763 | ) | |||||||||||
Basic and diluted earnings (loss) per share from continuing operations (in Euro)
|
0.04 | | 0.06 | | (0.33 | ) | ||||||||||||||
Basic and diluted loss per share from discontinued operations (in Euro)
|
(0.41 | ) | (68 | )% | (0.85 | ) | 19 | % | (0.69 | ) | ||||||||||
Basic and diluted loss per share (in Euro)
|
(0.37 | ) | | (0.79 | ) | (29 | %) | (1.02 | ) |
| Infineon expects revenues for the first quarter to decrease by approximately 30 percent compared to the prior quarter. Infineons total Segment Profit is anticipated to be negative in the first quarter, with a total Segment Profit margin of a negative mid-to-high teens percentage, mainly due to the sharp revenue decrease and low capacity utilization. |
| Infineon revenues for the 2009 fiscal year are expected to decrease by at least 15 percent compared to the 2008 fiscal year. Infineons total Segment Profit is anticipated to decrease significantly. The company expects total Segment Profit for the 2009 fiscal year to be negative. |
* | All amounts are in accordance with U.S. GAAP, unless otherwise indicated. | |
** | Please refer to page 3 of this news release for a discussion of the implementation of International Financial Reporting Standards (IFRS), the companys new organizational structure, and the companys use of the financial measure Segment Profit. |
|
Bars: Revenues in millions of Euro;
Line: Reported EBIT margin in percent with segment EBIT in millions of Euro. |
|
Bars: Revenues in millions of Euro;
Line: Reported EBIT margin in percent with segment EBIT in millions of Euro. |
3 months ended | ||||||||||||||||||||
Revenue in Euro million | Sep 30, 07 | Dec 31, 07 | Mar 31, 08 | Jun 30, 08 | Sep 30, 08 | |||||||||||||||
Other Operating Segments
|
45 | 38 | 39 | 15 | 8 | |||||||||||||||
Corporate and Eliminations
|
(50 | ) | (47 | ) | (33 | ) | (11 | ) | (11 | ) |
3 months ended | ||||||||||||||||||||
Infineon EBIT in Euro million | Sep 30, 07 | Dec 31, 07 | Mar 31, 08 | Jun 30, 08 | Sep 30, 08 | |||||||||||||||
Other Operating Segments
|
(2 | ) | (4 | ) | | 1 | | |||||||||||||
Corporate and Eliminations
|
(26 | ) | (13 | ) | (4 | ) | (6 | ) | (264 | ) |
Feb 6, 2009*
|
Earnings Release for the First Quarter of the 2009 Fiscal Year | |
Feb 12, 2009*
|
2009 Annual General Meeting of Shareholders | |
Feb 17, 2009*
|
Analyst Presentation at the Mobile World Congress in Barcelona | |
Apr 30, 2009*
|
Earnings Release for the Second Quarter of the 2009 Fiscal Year | |
Jul 29, 2009*
|
Earnings Release for the Third Quarter of the 2009 Fiscal Year | |
Nov 19, 2009*
|
Earnings Release for the Fourth Quarter and Full 2009 Fiscal Year |
|
Environmental Protection at Infineon | |
|
Safe batteries thanks to intelligent encryption | |
|
Increased safety by active Seatbelts |
-11-
3 months ended | For the years ended | |||||||||||||||||||
in Euro million | Sep 30, 07 | Jun 30, 08 | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||||||||
Revenue
|
1,127 | 1,029 | 1,153 | 4,074 | 4,321 | |||||||||||||||
Cost of goods sold
|
(721 | ) | (666 | ) | (775 | ) | (2,702 | ) | (2,823 | ) | ||||||||||
|
||||||||||||||||||||
Gross profit
|
406 | 363 | 378 | 1,372 | 1,498 | |||||||||||||||
|
||||||||||||||||||||
Research and development expenses
|
(191 | ) | (181 | ) | (187 | ) | (768 | ) | (755 | ) | ||||||||||
Selling, general and administrative expenses
|
(135 | ) | (145 | ) | (151 | ) | (500 | ) | (569 | ) | ||||||||||
Restructuring charges
|
(3 | ) | (2 | ) | (170 | ) | (45 | ) | (181 | ) | ||||||||||
Other operating income (expense), net
|
(2 | ) | 43 | (118 | ) | 20 | (43 | ) | ||||||||||||
|
||||||||||||||||||||
Operating income (loss)
|
75 | 78 | (248 | ) | 79 | (50 | ) | |||||||||||||
|
||||||||||||||||||||
Interest income (expense), net
|
(7 | ) | (12 | ) | 2 | (40 | ) | (26 | ) | |||||||||||
Equity in earnings of associated companies
|
| 1 | 1 | | 4 | |||||||||||||||
Other non-operating income (expense), net
|
(7 | ) | (1 | ) | (11 | ) | 7 | (16 | ) | |||||||||||
Minority interests
|
(8 | ) | (7 | ) | 38 | (14 | ) | 14 | ||||||||||||
|
||||||||||||||||||||
Income (loss) before income taxes, discontinued operations, and
extraordinary loss
|
53 | 59 | (218 | ) | 32 | (74 | ) | |||||||||||||
|
||||||||||||||||||||
Income tax expense
|
(25 | ) | (14 | ) | (26 | ) | (69 | ) | (61 | ) | ||||||||||
Income (loss) from continuing operations
|
28 | 45 | (244 | ) | (37 | ) | (135 | ) | ||||||||||||
|
||||||||||||||||||||
Loss from discontinued operations, net of tax
|
(308 | ) | (637 | ) | (519 | ) | (296 | ) | (2,987 | ) | ||||||||||
Loss before extraordinary loss
|
(280 | ) | (592 | ) | (763 | ) | (333 | ) | (3,122 | ) | ||||||||||
|
||||||||||||||||||||
Extraordinary loss, net of tax
|
| | | (35 | ) | | ||||||||||||||
|
||||||||||||||||||||
Net loss
|
(280 | ) | (592 | ) | (763 | ) | (368 | ) | (3,122 | ) | ||||||||||
|
Shares in million | ||||||||||||||||||||
Weighted average shares outstanding basic and diluted
|
749 | 750 | 750 | 749 | 750 | |||||||||||||||
Basic and diluted earnings (loss) per share from continuing operations (in Euro)
|
0.04 | 0.06 | (0.33 | ) | (0.05 | ) | (0.18 | ) | ||||||||||||
Basic and diluted loss per share from discontinued operations, net of tax (in Euro)
|
(0.41 | ) | (0.85 | ) | (0.69 | ) | (0.40 | ) | (3.98 | ) | ||||||||||
Basic and diluted loss per share from extraordinary loss, net of tax (in Euro)
|
| | | (0.04 | ) | | ||||||||||||||
Basic and diluted loss per share (in Euro)
|
(0.37 | ) | (0.79 | ) | (1.02 | ) | (0.49 | ) | (4.16 | ) |
* | Quarterly earnings (loss) per share may not add up to year-to-date earnings (loss) per share due to rounding. |
3 months ended | For the years ended | |||||||||||||||||||
in Euro million | Sep 30, 07 | Jun 30, 08 | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||||||||
Net loss
|
(280 | ) | (592 | ) | (763 | ) | (368 | ) | (3,122 | ) | ||||||||||
- Loss from discontinued operations, net of tax
|
308 | 637 | 519 | 296 | 2,987 | |||||||||||||||
- Income tax expense
|
25 | 14 | 26 | 69 | 61 | |||||||||||||||
- Interest expense (income), net
|
7 | 12 | (2 | ) | 40 | 26 | ||||||||||||||
|
||||||||||||||||||||
Infineon EBIT
|
60 | 71 | (220 | ) | 37 | (48 | ) | |||||||||||||
|
-12-
3 months ended | For the years ended | |||||||||||||||||||||||
Revenue in Euro million | Sep 30, 07 | Sep 30, 08 | +/- in % | Sep 30, 07 | Sep 30, 08 | +/- in % | ||||||||||||||||||
Automotive, Industrial & Multimarket
|
814 | 767 | (6 | ) | 3,017 | 2,963 | (2 | ) | ||||||||||||||||
Communication Solutions
(1)
|
318 | 389 | 22 | 1,051 | 1,360 | 29 | ||||||||||||||||||
Other Operating Segments
(2)
|
45 | 8 | (82 | ) | 219 | 100 | (54 | ) | ||||||||||||||||
Corporate and Eliminations
(3)
|
(50 | ) | (11 | ) | 78 | (213 | ) | (102 | ) | 52 | ||||||||||||||
|
||||||||||||||||||||||||
Total
|
1,127 | 1,153 | 2 | 4,074 | 4,321 | 6 | ||||||||||||||||||
|
3 months ended | For the years ended | |||||||||||||||||||||||
Infineon EBIT in Euro million | Sep 30, 07 | Sep 30, 08 | +/- in % | Sep 30, 07 | Sep 30, 08 | +/- in % | ||||||||||||||||||
Automotive, Industrial & Multimarket
|
102 | 47 | (54 | ) | 291 | 315 | 8 | |||||||||||||||||
Communication Solutions
|
(14 | ) | (3 | ) | 79 | (165 | ) | (73 | ) | 56 | ||||||||||||||
Other Operating Segments
|
(2 | ) | | +++ | (12 | ) | (3 | ) | 75 | |||||||||||||||
Corporate and Eliminations
|
(26 | ) | (264 | ) | | (77 | ) | (287 | ) | | ||||||||||||||
|
||||||||||||||||||||||||
Total
|
60 | (220 | ) | | 37 | (48 | ) | | ||||||||||||||||
|
(1) | Includes sales of 10 million and 1 million for the three months ended September 30, 2007 and 2008, respectively, and of 30 million and 10 million for fiscal years ended September 30, 2007 and 2008, respectively, from sales of wireless communication applications to Qimonda. | |
(2) | Includes sales of 43 million and 1 million for the three months ended September 30, 2007 and 2008, respectively, and of 189 million and 79 million for fiscal years ended September 30, 2007 and 2008, respectively, from sales of wafers from Infineons 200-millimeter facility in Dresden to Qimonda under a foundry agreement. | |
(3) | Includes the elimination of sales of 53 million and 2 million for the three months ended September 30, 2007 and 2008, respectively, and of 219 million and 89 million for fiscal years ended September 30, 2007 and 2008, respectively, since these sales are not expected to be part of the Qimonda disposal plan. |
3 months ended | ||||||||||||
Revenue in Euro million | Jun 30, 08 | Sep 30, 08 | +/- in % | |||||||||
Automotive, Industrial & Multimarket
|
712 | 767 | 8 | |||||||||
Communication Solutions
(1)
|
313 | 389 | 24 | |||||||||
Other Operating Segments
(2)
|
15 | 8 | (47 | ) | ||||||||
Corporate and Eliminations
(3)
|
(11 | ) | (11 | ) | | |||||||
|
||||||||||||
Total
|
1,029 | 1,153 | 12 | |||||||||
|
3 months ended | ||||||||||||
Infineon EBIT in Euro million | Jun 30, 08 | Sep 30, 08 | +/- in % | |||||||||
Automotive, Industrial & Multimarket
|
106 | 47 | (56 | ) | ||||||||
Communication Solutions
|
(30 | ) | (3 | ) | 90 | |||||||
Other Operating Segments
|
1 | | | |||||||||
Corporate and Eliminations
|
(6 | ) | (264 | ) | | |||||||
|
||||||||||||
Total
|
71 | (220 | ) | | ||||||||
|
(1) | Includes sales of 1 million and 1 million for the three months ended June 30, 2008 and September 30, 2008, respectively, from sales of wireless communication applications to Qimonda. | |
(2) | Includes sales of 8 million for the three months ended June 30, 2008 from sales of wafers from Infineons 200-millimeter-facility in Dresden to Qimonda under a foundry agreement. | |
(3) | Includes the elimination of sales of 9 million and 2 million for the three months ended June 30, 2008 and September 30, 2008, respectively, since these sales are not expected to be part of the Qimonda disposal plan. |
-13-
3 months ended | For the years ended | |||||||||||||||||||
in Euro million | Sep 30, 07 | Jun 30, 08 | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||||||||
Impairments, restructuring and other related closure costs
|
(7 | ) | (2 | ) | (262 | ) | (46 | ) | (275 | ) | ||||||||||
In-process research and development write-offs
|
| | | | (14 | ) | ||||||||||||||
Litigation settlement cost
|
| | (2 | ) | | (2 | ) | |||||||||||||
Net gains on sales of assets, businesses or interests in subsidiaries
|
4 | 43 | 11 | 24 | 82 | |||||||||||||||
Other
|
(7 | ) | | | (20 | ) | | |||||||||||||
|
||||||||||||||||||||
Net gains (charges)
|
(10 | ) | 41 | (253 | ) | (42 | ) | (209 | ) | |||||||||||
|
For the years ended | ||||||||
Regional sales in % | 30.9.2007 | 30.9.2008 | ||||||
Germany
|
22 | % | 21 | % | ||||
Other Europe
|
22 | % | 19 | % | ||||
North America
|
14 | % | 12 | % | ||||
Asia/Pacific
|
36 | % | 42 | % | ||||
Japan
|
5 | % | 4 | % | ||||
Other
|
1 | % | 2 | % | ||||
|
||||||||
Total
|
100 | % | 100 | % | ||||
|
||||||||
Europe
|
44 | % | 40 | % | ||||
|
||||||||
Outside Europe
|
56 | % | 60 | % | ||||
|
Employees
|
Sep 30, 07 | June 30, 08 | Sep 30, 08 | |||||||||
Infineon
(1)
|
29,598 | 29,356 | 29,119 | |||||||||
Qimonda
(2)
|
13,481 | 12,806 | 12,224 | |||||||||
|
||||||||||||
Total
|
43,079 | 42,162 | 41,343 | |||||||||
|
(1) | As of September 30, 2007, June 30, 2008 and September 30, 2008, 5,833, 6,311 and 6,273 Infineon employees, respectively, were engaged in research and development. During the 2008 fiscal year, 570 employees joined Infineon from the businesses acquired from LSI and Primarion, whereas 415 employees left the company in connection with the formation of the Bipolar joint venture with Siemens and the disposal of the BAW filter business. During the fourth quarter of the 2008 fiscal year, no employees joined Infineon in connection with mergers or acquisitions whereas 14 employees left the company due to the disposal of the BAW filter business. | |
(2) | As of September 30, 2007, June 30, 2008 and September 30, 2008, 2,506, 2,437 and 2,091 Qimonda employees, respectively, were engaged in research and development. |
-14-
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
1,073 | 749 | ||||||
Marketable securities
|
210 | 143 | ||||||
Trade accounts receivable, net
|
620 | 589 | ||||||
Inventories
|
598 | 663 | ||||||
Deferred income taxes
|
34 | 26 | ||||||
Other current assets
|
303 | 379 | ||||||
Assets held for disposal
|
5,653 | 2,224 | ||||||
|
||||||||
Total current assets
|
8,491 | 4,773 | ||||||
|
||||||||
Property, plant and equipment, net
|
1,462 | 1,311 | ||||||
Intangible assets, net
|
89 | 362 | ||||||
Long-term investments
|
24 | 33 | ||||||
Restricted cash
|
77 | 77 | ||||||
Deferred income taxes
|
446 | 402 | ||||||
Pension assets
|
4 | 16 | ||||||
Other assets
|
160 | 109 | ||||||
|
||||||||
Total assets
|
10,753 | 7,083 | ||||||
|
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Liabilities and shareholders equity
|
||||||||
Current liabilities:
|
||||||||
Short-term debt and current maturities
|
260 | 207 | ||||||
Trade accounts payable
|
596 | 488 | ||||||
Accrued liabilities
|
379 | 410 | ||||||
Deferred income taxes
|
10 | 12 | ||||||
Other current liabilities
|
326 | 435 | ||||||
Liabilities held for disposal
|
1,897 | 2,091 | ||||||
|
||||||||
Total current liabilities
|
3,468 | 3,643 | ||||||
|
||||||||
Long-term debt
|
1,149 | 1,051 | ||||||
Pension liabilities
|
36 | 41 | ||||||
Deferred income taxes
|
23 | 3 | ||||||
Long-term accrued liabilities
|
22 | 24 | ||||||
Other liabilities
|
108 | 100 | ||||||
|
||||||||
Total liabilities
|
4,806 | 4,862 | ||||||
|
||||||||
Minority interests
|
1,033 | 457 | ||||||
|
||||||||
Total shareholders equity
|
4,914 | 1,764 | ||||||
|
||||||||
Total liabilities and shareholders equity
|
10,753 | 7,083 | ||||||
|
-15-
3 months ended | For the years ended | |||||||||||||||||||
in Euro million | Sep 30, 07 | Jun 30, 08 | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||||||||
Net cash provided by operating activities from continuing operations
|
293 | 146 | 265 | 227 | 535 | |||||||||||||||
Net cash provided by (used in) operating activities from discontinued operations
|
211 | (154 | ) | (237 | ) | 980 | (659 | ) | ||||||||||||
|
||||||||||||||||||||
Net cash provided by (used in) operating activities
|
504 | (8 | ) | 28 | 1,207 | (124 | ) | |||||||||||||
|
||||||||||||||||||||
Net cash provided by (used in) investing activities from continuing operations
|
7 | 146 | 102 | (20 | ) | (620 | ) | |||||||||||||
Net cash provided by (used in) investing activities from discontinued operations
|
(123 | ) | 82 | 45 | (847 | ) | 4 | |||||||||||||
|
||||||||||||||||||||
Net cash provided by (used in) investing activities
|
(116 | ) | 228 | 147 | (867 | ) | (616 | ) | ||||||||||||
|
||||||||||||||||||||
Net cash provided by (used in) financing activities from continuing operations
|
106 | (114 | ) | (19 | ) | (214 | ) | (230 | ) | |||||||||||
Net cash provided by (used in) financing activities from discontinued operations
|
36 | 47 | 96 | (307 | ) | 337 | ||||||||||||||
|
||||||||||||||||||||
Net cash provided by (used in) financing activities
|
142 | (67 | ) | 77 | (521 | ) | 107 | |||||||||||||
|
||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents
|
530 | 153 | 252 | (181 | ) | (633 | ) | |||||||||||||
|
||||||||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents
|
(18 | ) | (3 | ) | 12 | (40 | ) | (5 | ) | |||||||||||
|
||||||||||||||||||||
Depreciation and amortization from continuing operations
|
145 | 134 | 132 | 609 | 542 | |||||||||||||||
Purchases of property, plant and equipment from continuing operations
|
(167 | ) | (58 | ) | (85 | ) | (498 | ) | (312 | ) |
* | Includes only amounts from continuing operations. |
in Euro million | Sep 30, 07 | Jun 30, 08 | Sep 30, 08 | |||||||||
Cash and cash equivalents
|
1,073 | 408 | 749 | |||||||||
Marketable securities
|
210 | 452 | 143 | |||||||||
|
||||||||||||
Gross Cash Position
|
1,283 | 860 | 892 | |||||||||
|
||||||||||||
Less: short-term debt and current maturities
|
260 | 193 | 207 | |||||||||
long-term debt
|
1,149 | 1,074 | 1,051 | |||||||||
|
||||||||||||
Net Cash Position
|
(126 | ) | (407 | ) | (366 | ) | ||||||
|
* | Includes only amounts from continuing operations. |
3 months ended | For the years ended | |||||||||||||||||||
in Euro million | Sep 30, 07 | Jun 30, 08 | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||||||||
Net cash provided by operating activities from continuing operations
|
293 | 146 | 265 | 227 | 535 | |||||||||||||||
Net cash provided by (used in) investing activities from continuing operations
|
7 | 146 | 102 | (20 | ) | (620 | ) | |||||||||||||
Thereof: Sales of marketable securities, net
|
(1 | ) | (171 | ) | (273 | ) | (266 | ) | (27 | ) | ||||||||||
|
||||||||||||||||||||
Free cash flow
|
299 | 121 | 94 | (59 | ) | (112 | ) | |||||||||||||
|
3 months ended | For the years ended | |||||||||||
in Euro million | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||
Revenue
|
1,153 | 4,074 | 4,321 | |||||||||
Cost of goods sold
|
(780 | ) | (2,716 | ) | (2,843 | ) | ||||||
|
||||||||||||
Gross profit
|
373 | 1,358 | 1,478 | |||||||||
|
||||||||||||
Research and development expenses
|
(174 | ) | (743 | ) | (694 | ) | ||||||
Selling, general and administrative expenses
|
(150 | ) | (504 | ) | (565 | ) | ||||||
Other operating income
|
17 | 38 | 120 | |||||||||
Other operating expense
|
(315 | ) | (57 | ) | (366 | ) | ||||||
|
||||||||||||
Operating income (loss)
|
(249 | ) | 92 | (27 | ) | |||||||
|
||||||||||||
Financial income
|
21 | 107 | 58 | |||||||||
thereof: interest income
|
21 | 47 | 56 | |||||||||
Financial expense
|
(57 | ) | (243 | ) | (182 | ) | ||||||
thereof: interest expense
|
(45 | ) | (148 | ) | (151 | ) | ||||||
Income from investments accounted for using the equity method, net
|
1 | | 4 | |||||||||
|
||||||||||||
Loss from continuing operations before income taxes
|
(284 | ) | (44 | ) | (147 | ) | ||||||
|
||||||||||||
Income tax benefit (expense)
|
(13 | ) | 1 | (41 | ) | |||||||
|
||||||||||||
Loss from continuing operations
|
(297 | ) | (43 | ) | (188 | ) | ||||||
|
||||||||||||
Loss from discontinued operations, net of income taxes
|
(587 | ) | (327 | ) | (3,559 | ) | ||||||
|
||||||||||||
Net loss
|
(884 | ) | (370 | ) | (3,747 | ) | ||||||
|
||||||||||||
Attributable to:
|
||||||||||||
Minority interests
|
(173 | ) | (23 | ) | (812 | ) | ||||||
Shareholders of Infineon Technologies AG
|
(711 | ) | (347 | ) | (2,935 | ) | ||||||
|
Shares in million | ||||||||||||
Weighted average shares outstanding basic and diluted
|
750 | 749 | 750 | |||||||||
Basic and diluted loss per share from continuing operations (in Euro)
|
(0.45 | ) | (0.08 | ) | (0.33 | ) | ||||||
Basic and diluted loss per share from discontinued operations (in Euro)
|
(0.50 | ) | (0.38 | ) | (3.58 | ) | ||||||
Basic and diluted loss per share
|
(0.95 | ) | (0.46 | ) | (3.91 | ) |
* | Quarterly loss per share may not add up to year-to-date earnings (loss) per share due to rounding. |
- 17 -
3 months ended | For the years ended | |||||||||||
in Euro million | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | |||||||||
Net loss (US GAAP)
|
(763 | ) | (368 | ) | (3,122 | ) | ||||||
- Loss from discontinued operations, net of tax
|
519 | 296 | 2,987 | |||||||||
- Income tax expense
|
26 | 69 | 61 | |||||||||
- Interest expense (income), net
|
(2 | ) | 40 | 26 | ||||||||
|
||||||||||||
Total US GAAP Infineon EBIT
|
(220 | ) | 37 | (48 | ) | |||||||
|
||||||||||||
IFRS reconciliation differences
|
(40 | ) | 20 | (4 | ) | |||||||
|
||||||||||||
Total IFRS Infineon EBIT
|
(260 | ) | 57 | (52 | ) | |||||||
|
3 months ended | For the year ended | |||||||
in Euro million | Sep 30, 08 | Sep 30, 08 | ||||||
Operating loss
|
(249 | ) | (27 | ) | ||||
-Asset impairments
|
132 | 132 | ||||||
-Restructuring and other related closure costs
|
176 | 188 | ||||||
-Share-based compensation expense
|
1 | 5 | ||||||
-Acquisition-related amortization and losses
|
6 | 27 | ||||||
-Gains on sales of assets, businesses or interests in subsidiaries
|
(11 | ) | (70 | ) | ||||
-Other expense (income), net
|
4 | 3 | ||||||
|
||||||||
Total Segment Profit
|
59 | 258 | ||||||
|
- 18 -
3 months | For the years ended | |||||||||||||||
Revenue in Euro million | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | +/- in % | ||||||||||||
Automotive, Industrial & Multimarket
|
767 | 3,017 | 2,963 | (2 | ) | |||||||||||
Communication Solutions
(1)
|
389 | 1,051 | 1,360 | 29 | ||||||||||||
Other Operating Segments
(2)
|
8 | 219 | 100 | (54 | ) | |||||||||||
Corporate and Eliminations
(3)
|
(11 | ) | (213 | ) | (102 | ) | 52 | |||||||||
|
||||||||||||||||
Total
|
1,153 | 4,074 | 4,321 | 6 | ||||||||||||
|
3 months | For the years ended | |||||||||||||||
EBIT in Euro million | Sep 30, 08 | Sep 30, 07 | Sep 30, 08 | +/- in % | ||||||||||||
Automotive, Industrial & Multimarket
|
47 | 291 | 315 | 8 | ||||||||||||
Communication Solutions
|
(3 | ) | (165 | ) | (73 | ) | 56 | |||||||||
Other Operating Segments
|
| (12 | ) | (3 | ) | 75 | ||||||||||
Corporate and Eliminations
|
(264 | ) | (77 | ) | (287 | ) | --- | |||||||||
|
||||||||||||||||
Total US GAAP Infineon EBIT
|
(220 | ) | 37 | (48 | ) | --- | ||||||||||
|
||||||||||||||||
IFRS reconciliation differences
|
(40 | ) | 20 | (4 | ) | --- | ||||||||||
|
||||||||||||||||
Total IFRS Infineon EBIT
|
(260 | ) | 57 | (52 | ) | --- | ||||||||||
|
(1) | Includes sales of 1 million for the three months ended September 30, 2008, and of 30 million and 10 million for fiscal years ended September 30, 2007, and 2008, respectively, from sales of wireless communication applications to Qimonda. | |
(2) | Includes sales of 1 million for the three months ended September 30, 2008, and of 189 million and 79 million for fiscal years ended September 30, 2007 and 2008, respectively, from sales of wafers from Infineons 200-millimeter facility in Dresden to Qimonda under a foundry agreement. | |
(3) | Includes the elimination of sales of 2 million for the three months ended September 30, 2008, and of 219 million and 89 million for fiscal years ended September 30, 2007 and 2008, respectively, since these sales are not expected to be part of the Qimonda disposal plan. |
- 19 -
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
1,809 | 749 | ||||||
Available-for-sale financial assets
|
417 | 134 | ||||||
Trade and other receivables
|
1,138 | 799 | ||||||
Inventories
|
1,206 | 665 | ||||||
Income tax receivable
|
56 | 29 | ||||||
Other current financial assets
|
78 | 19 | ||||||
Other current assets
|
203 | 124 | ||||||
Assets classified as held for disposal
|
303 | 2,129 | ||||||
|
||||||||
Total current assets
|
5,210 | 4,648 | ||||||
|
||||||||
Property, plant and equipment
|
3,645 | 1,310 | ||||||
Goodwill and other intangible assets
|
334 | 443 | ||||||
Investments accounted for using the equity method
|
627 | 20 | ||||||
Deferred tax assets
|
588 | 400 | ||||||
Other financial assets
|
162 | 133 | ||||||
Other assets
|
33 | 28 | ||||||
|
||||||||
Total assets
|
10,599 | 6,982 | ||||||
|
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Liabilities and shareholders equity
|
||||||||
Current liabilities:
|
||||||||
Short-term debt and current maturities of long-term debt
|
336 | 207 | ||||||
Trade and other payables
|
1,347 | 506 | ||||||
Current provisions
|
533 | 424 | ||||||
Income tax payable
|
97 | 87 | ||||||
Other current financial liabilities
|
78 | 63 | ||||||
Other current liabilities
|
333 | 263 | ||||||
Liabilities associated with assets classified as held for disposal
|
129 | 2,123 | ||||||
|
||||||||
Total current liabilities
|
2,853 | 3,673 | ||||||
|
||||||||
Long-term debt
|
1,227 | 963 | ||||||
Pension plans and similar commitments
|
63 | 43 | ||||||
Deferred tax liabilities
|
81 | 19 | ||||||
Long-term provisions
|
44 | 27 | ||||||
Other financial liabilities
|
134 | 20 | ||||||
Other liabilities
|
193 | 76 | ||||||
Total liabilities
|
4,595 | 4,821 | ||||||
Shareholders equity:
|
||||||||
Ordinary share capital
|
1,499 | 1,499 | ||||||
Additional paid-in capital
|
6,002 | 6,008 | ||||||
Accumulated deficit
|
(2,328 | ) | (5,252 | ) | ||||
Other components of equity
|
(129 | ) | (164 | ) | ||||
|
||||||||
Total shareholders equity attributable to shareholders of Infineon Technologies AG
|
5,044 | 2,091 | ||||||
|
||||||||
Minority interests
|
960 | 70 | ||||||
|
||||||||
Total shareholders equity
|
6,004 | 2,161 | ||||||
|
||||||||
Total liabilities and shareholders equity
|
10,599 | 6,982 | ||||||
|
- 20 -
For the years ended | ||||||||
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Net cash provided by operating activities from continuing operations
|
256 | 580 | ||||||
Net cash provided by (used in) operating activities from dicontinued operations
|
995 | (664 | ) | |||||
|
||||||||
Net cash provided by (used in) operating activities
|
1,251 | (84 | ) | |||||
|
||||||||
Net cash used in investing activities from continuing operations
|
(48 | ) | (665 | ) | ||||
Net cash provided by (used in) investing activities from discontinued operations
|
(869 | ) | 3 | |||||
|
||||||||
Net cash used in investing activities
|
(917 | ) | (662 | ) | ||||
|
||||||||
Net cash used in financing activities from continuing operations
|
(214 | ) | (230 | ) | ||||
Net cash provided by (used in) financing activities from discontinued operations
|
(311 | ) | 343 | |||||
|
||||||||
Net cash provided by (used in) financing activities
|
(525 | ) | 113 | |||||
|
||||||||
Net decrease in cash and cash equivalents
|
(191 | ) | (633 | ) | ||||
|
||||||||
Effect of foreign exchange rate changes on cash and cash equivalents
|
(40 | ) | (6 | ) | ||||
|
||||||||
Depreciation and amortization
|
632 | 571 | ||||||
Purchases of property, plant and equipment
|
(498 | ) | (312 | ) |
* | Includes only amounts from continuing operations. |
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Cash and cash equivalents
|
1,809 | 749 | ||||||
Available-for-sale financial assets
|
417 | 134 | ||||||
|
||||||||
Gross Cash Position
|
2,226 | 883 | ||||||
|
||||||||
Less: Short-term debt and current maturities of long-term debt
|
336 | 207 | ||||||
Long-term debt
|
1,227 | 963 | ||||||
|
||||||||
Net Cash Position
|
663 | (287 | ) | |||||
|
* | Includes only amounts from continuing operations. |
For the years ended | ||||||||
in Euro million | Sep 30, 07 | Sep 30, 08 | ||||||
Net cash provided by operating activities from continuing operations
|
256 | 580 | ||||||
Net cash used in investing activities from continuing operations
|
(48 | ) | (665 | ) | ||||
Thereof: Proceeds from sales of available-for-sale financial assets
|
(266 | ) | (27 | ) | ||||
|
||||||||
Free Cash Flow
|
(58 | ) | (112 | ) | ||||
|
- 21 -
| Infineon signed an agreement with STMicroelectronics and STATS ChipPAC, a leader in three-dimensional packaging solutions, for the joint development of a new embedded Wafer-Level Ball Grid Array (eWLB) technology. The partners are focusing on a successor to Infineons existing eWLB technology which provides packaging with a higher integration level and a greater number of contact elements. | |
| AIM: Infineon reaffirmed its number-one market position in its power semiconductor and chip card businesses. According to the latest study of the global market research firm IMS Research, Infineon holds a market share of 9.7 percent in the U.S. dollar 13.6 billion market for discretes and modules for power electronics. According to Frost & Sullivan, Infineon had a 26.6 percent share of the total U.S. dollar 2.305 billion chip card IC market in the 2007 calendar year. | |
| AIM: Infineon again received Best Supplier awards from several global players, honoring the companys excellent quality and supply of products and services. Emerson, for example, a global leader in technology and engineering for network power and industrial automation, awarded its Marquee Supplier Award to Infineon. In addition, TridonicAtco, one of the worlds leading component manufacturers for innovative lighting solutions, honored Infineon with its ,,Excellent Supplier Award. |
| AIM: Infineon had major design wins for its power semiconductors and power modules in the area of renewable energy sources such as windmills and solar power plants. Organizations such as the Energy Information Administration (EIA) and Greenpeace, for example, project renewable energy sources to further increase their share in power generation within the electric supply chain as conventional sources get more expensive and are not favored due to their impact on the environment. | |
| AIM: Infineon was selected as the sole supplier of power semiconductors for the next-generation seatbelt pretension system of the worlds largest automotive safety system supplier, Autoliv. With Infineons energy-saving NovalithIC, the cars seatbelt pretension, the underlying technology of which was previously the exclusive preserve of pyrotechnics, can now be handled electrically. |
- 22 -
| COM: Infineon achieved another design win with its HSDPA mobile phone platform XMM6080 and continued volume shipments of this platform to its two existing customers. In total, the company now has four customers for this platform. | |
| COM: Infineon achieved its first design wins with its XMM2130 single-chip EDGE platform. First samples of the companys first platform produced in 65-nanometer were introduced in the fourth quarter. Volume shipments are expected for the second quarter of the 2009 fiscal year. | |
| COM: Infineon introduced its XWAYARX100 family for router and Integrated Access Device (IAD) solutions. The first chip of this family, the XWAYARX168, is a single-chip ADSL2+ device with industry-first integrated Gigabit Ethernet support, advanced features to support Internet Protocol Television (IPTV), and full 11n wireless routing performance. Samples of the XWAYARX168 have been available since October 2008. |
| AIM: With the introduction of its new authentication chip with counterfeit detection capability, Infineon is targeting the growing markets for batteries, printer cartridges, replacement parts, medical disposables, networking equipment, earphones, speakers, docking stations, and chargers. Featuring innovative asymmetric cryptography and integrated temperature sensors, the ORIGA chip helps protect against safety risks posed by unauthorized and untested products. | |
| AIM: Infineon continued to hold a leading position in the growing contactless chip card market for identification and payment as well as in trusted computing applications. In the fourth quarter, the company expanded its leading position in digital identity documents in the public sector for applications such as national e-IDs, healthcare cards and e-passports. By the end of the 2008 calendar year, Infineon expects to have implemented projects in more than 60 countries in a market consisting of 140 million security controllers (source: Eurosmart). New EU programs and regulations such as EU health insurance or residence cards should further increase the market size in the future. |
- 23 -
Worldwide Headquarters: | Name: | Phone: | Email: | |||
Media Relations
|
Ralph Driever | +49 89 234 29804 | ralph.driever@infineon.com | |||
Investor Relations
|
EU/APAC/USA/CAN | +49 89 234 26655 | investor.relations@infineon.com |
INFINEON TECHNOLOGIES AG
|
||||
Date: December 4, 2008 | By: | /s/ Peter Bauer | ||
Peter Bauer | ||||
Member of the Management Board
and Chief Executive Officer |
||||
By: | /s/ Dr. Marco Schröter | |||
Dr. Marco Schröter | ||||
Member of the Management Board
and Chief Financial Officer |
||||
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