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Annual Report 2009 with the Group

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Annual Report 2009 with the Group OUR PATH TO THE FUTURE Infineon Technologies AG Annual Report 2009 Infineon Technologies AG Annual Report 2009 OUR COMPANY ← 01 The Management Board of Infineon Technologies AG ......002 Caption: ← 02 Letter to the Shareholders .....................................................................003 see figure for further information ← 03 Review of the Year ........................................................................................008 see text for 01 01 further information ← 04 Financial Development in the 2009 Fiscal Year .....................010 02 02 ← 05 Research & Development .......................................................................016 03 03 ← 06 Customers ..........................................................................................................026 04 04 ← 07 The Divisions ....................................................................................................030 ← 08 The Infineon Share ......................................................................................036 ← 09 Infineon Worldwide .....................................................................................040 ← 10 Responsibility – for the Benefit of People and the Environment ..................................................................................042 ← 11 HR Work as Part of Crisis Management ........................................044 FINANCIAL REVIEW INFINEON TECHNOLOGIES AG ← 12 Content .................................................................................................................050 ← 13 Report of the Supervisory Board .......................................................051 ← 14 Corporate Governance ..............................................................................061 ← 15 Compensation Report ...............................................................................067 ← 16 Operating and Financial Review ........................................................072 ← 17 Consolidated Financial Statements ................................................122 ← 18 Notes to the Consolidated Financial Statements .................127 ← 19 Responsibility Statement by the Management Board ......194 ← 20 Independent Auditor‘s Report ............................................................195 ← 21 Consolidated Financial Data 2007 – 2009 ................................196 ← 22 Financial and Technology Glossary .................................................198 ← 23 Financial Calendar .......................................................................................206 NOTE When we use the masculine singular pronoun in this Annual Report to refer to employees, we of course are referring to all employees, both male and female. FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and you should not place too much reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them in the light of new informa- tion or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. INFINEON KEY DATA 01 AS AND FOR THE FISCAL YEARS ENDED SEPTEMBER 30 (UNDER IFRS) 1 Fiscal year from October 1 to September 30 2008 2009 2009/2008 As % of As % of Change € millions € millions net sales net sales in % Revenue by region 3,903 3,027 (22) Germany 820 21 545 18 (34) Other Europe 754 19 543 18 (28) North America 483 12 409 13 (15) Asia/Pacific 1,597 41 1,358 45 (15) Japan 191 5 143 5 (25) Other 58 2 29 1 (50) Revenue by segment 3,903 3,027 (22) Automotive 1,257 32 839 28 (33) Industrial & Multimarket 1,171 30 905 30 (23) Chip Card & Security 465 12 341 11 (27) Wireless Solutions 941 24 917 30 (3) Other Operating Segments 171 4 17 1 (90) Corporate and Eliminations (102) (3) 8 0 +++ Gross profit Gross margin 1,332 34 659 22 (51) Research and development expenses 606 16 468 15 (23) Selling, general and administrative expenses 517 13 392 13 (24) Operating income (loss) (46) (220) ––– Loss from continuing operations (204) (273) (34) Loss from discontinued operations, net of income taxes (3,543) (398) 89 Net income (loss) (3,747) (671) 82 Segment result margin 237 6 (167) (6) ––– Property, plant and equipment 1,310 928 (29) Total assets 6,982 4,606 (34) Total shareholders’ equity 2,161 2,333 8 Net cash provided by operating activities from continuing operations 540 268 (50) Net cash used in investing activities from continuing operations (652) (14) 98 Net cash provided by (used in) financing activities from continuing operations (230) 391 +++ Free cash flow 2 (139) 221 +++ Depreciation and amortization 552 513 (7) Impairment charges 137 3 (98) Purchases of property, plant and equipment and purchases of intangible assets 357 154 (57) Gross cash position 3 883 1,507 71 Net cash position 4 (287) 657 +++ Net income (loss) per share – basic and diluted in € (3.61) (0.73) 80 Dividend per share in € — — Equity ratio 31 % 51 % 64 Return on equity 5 (92 %) (30 %) 67 Return on assets 6 (43 %) (12 %) 72 Equity-to-fixed assets ratio 7 165 % 251 % 52 Debt-to-equity ratio 8 54 % 36 % (33) Debt-to-total-capital ratio 9 17 % 18 % 6 Return on Capital Employed (RoCE) 10 (3 %) (12 %) ––– Employees Infineon as of September 30 29,119 26,464 (9) 1 Columns may not add due to rounding. 2 Free cash flow = net cash provided by (used in) operating activities from continuing operations and net cash provided by (used in) investing activities from continuing operations adjusted for net proceeds from (sales) purchases of available-for-sale financial assets. 3 Gross cash position = cash and cash equivalents and available-for-sale financial assets. 4 Net cash position = Gross cash position less short and long-term debt. 5 Return on equity = net income (loss) divided by average shareholders’ equity. 6 Return on assets = net income (loss) divided by average total assets. 7 Equity-to-fixed-assets ratio = Total shareholders’ equity divided by property, plant and equipment. 8 Debt-to-equity ratio = Short-term and long-term debt divided by shareholders’ equity. 9 Debt-to-total-capital ratio = Long-term and short-term debt divided by total assets. 10 Return on Capital Employed, RoCE = NOPAT (Net Operating Profit After Tax) divided by capital employed. FOCUS AREAS AND TARGET MARKETS THE COMPANY Infineon provides semiconductor and system solutions, focusing on three central needs of our modern society: energy efficiency, communications and security. With approximately 25,650 employees worldwide, Infineon achieved 3.03 billion euros in EneRGY EffiCIENCY sales in the 2009 fiscal year. The Company’s shares are listed in Frankfurt with the ticker symbol AUTOMOTIVE IndUSTRIAL & MULTIMARkeT Chip CARD & SECURITY IFX and in New York on the > PAGE 31 > PAGE 32 > PAGE 33 over-the-counter market OTCQX International Premier with the Powertrain (engine and transmission Electric drive control for industrial applica- SIM cards for mobile phones ° Payment ticker symbol IFNNY. control) ° Hybrid and electric cars ° Car body tions and home appliances ° Modules for systems ° Electronic passports, ID cards, and comfort electronics (steering, suspen- renewable energy generation, transmission healthcare cards and driver‘s licenses ° sion, lights, air conditioning, sunroof, power and conversion ° Semiconductor compo- Personal identification ° Object identifica- windows, windshield wipers, central body nents for light management systems and tion ° Pay TV ° Platform security for control units, door electronics) ° Safety LED lighting ° Power supplies for servers, computers and networks ° Authentication (ABS, airbags, ESP) ° Emergency call system PCs, notebooks, netbooks, game consoles, and system integrity e.g. in game consoles, (eCall) entertainment electronics ° Customized printers, industrial control components for PC peripherals (e.g. mouse), game consoles and medical engineering applications ° RF and protection devices for communication (e.g. GPS, UMTS, WLAN, digital TV) and tuner systems ° Silicon MEMS microphones KEY CUSTOMERS 1 KEY CUSTOMERS 1 KEY CUSTOMERS 1 Autoliv ° Bosch ° Continental ° Delphi ° ABB ° Alstom ° Dell ° Delta ° Emerson ° Avnet ° Beijing Watch Data ° Cisco ° Conax ° Denso ° Hella ° Hyundai ° Kostal ° Lear ° Enercon ° General Electric ° HP ° LG Fundamenture Holding ° Gemalto ° Giesecke Mitsubishi ° TRW ° Valeo Electronics ° Microsoft ° Motorola ° Nokia ° & Devrient ° Oberthur Card Systems ° Sagem Osram ° Philips ° RIM ° Rockwell ° Orga ° U.S. Government Printing Office Samsung ° Siemens ° Schneider Electric ° SMA Solar Technology ° Sony ° Toshiba MAIN COMPETITORS 2 MAIN COMPETITORS 2 MAIN COMPETITORS 2 Freescale ° Fujitsu ° NEC ° NXP ° ON Semi- Fairchild ° Fuji ° International Rectifier ° Atmel ° NXP ° Renesas ° Samsung ° conductor ° Renesas ° STMicroelectronics ° Mitsubishi ° NXP ° ON Semiconductor ° STMicroelectronics Texas Instruments ° Toshiba Renesas ° STMicroelectronics ° Texas Instruments ° Toshiba ° Vishay MARKET POSITION 3 MARKET POSITION 3 MARKET POSITION 3 9.5 % with 10.2 % for power semiconductors 25.5 % and modules. Source: Strategy Analytics, May 2009 Source: IMS Research, July 2009 Source: Frost & Sullivan, October
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