Cover_20F 20.11.2003 20:23 Uhr Seite 1 Annual Report 2003 on Form 20-F ANNUAL REPORT 2003 ON FORM 20-F REPORT ANNUAL Annual Report 2003 on Form 20-F INFINEON TECHNOLOGIES AG INFINEON TECHNOLOGIES published by Infineon Technologies AG Ordering-No. B192-H8092-G1-X-7600 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 អ OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ፤ For the fiscal year ended September 30, 2003 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . អ Commission file number: 1-15000 Infineon Technologies AG (Exact name of Registrant as specified in its charter) Federal Republic of Germany (Jurisdiction of incorporation or organization) St.-Martin-Strasse 53 D-81669 Munich Federal Republic of Germany (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class on which registered American Depositary Shares, each representing New York Stock Exchange one ordinary share, no par value but with a notional value of A2.00 per share Ordinary shares, no par value but with a New York Stock Exchange notional value of A2.00 per share * * Listed, not for trading or quotation purposes, but only in connection with the registration of American Depositary Shares pursuant to the requirements of the Securities and Exchange Commission Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None The number of outstanding shares of each of the issuer’s classes of capital or common stock as of September 30, 2003: 720,880,604 ordinary shares, no par value but with a notional value of A2.00 per share. Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ፤ No អ Not applicable អ Indicate by check mark which financial statement item the registrant has elected to follow. Item 17 អ Item 18 ፤ INFINEON TECHNOLOGIES AG ANNUAL REPORT ON FORM 20-F FOR THE FINANCIAL YEAR ENDED SEPTEMBER 30, 2003 CROSS REFERENCES TO FORM 20-F Page PART I Item 1: Identity of Directors, Senior Management and Advisers ....................... n/a Item 2: Offer Statistics and Expected Timetable .................................. n/a Item 3: Key Information Selected Financial Data ............................................. 1 Exchange Rate Information .......................................... 102 Risk Factors ..................................................... 33 Item 4: Information on the Company History and Development of the Company ................................ 43 Business Overview ................................................. 41 Organizational Structure ............................................. 99 Property, Plant and Equipment ........................................ 60 Item 5: Operating and Financial Review and Prospects ............................. 3 Operating Results ................................................. 9 Liquidity and Capital Resources ....................................... 21 Research and Development; Patents and Licenses ........................... 63 Trend Information ................................................. 31 Off-balance Sheet Arrangements ....................................... None Contractual Obligations ............................................. 23 Item 6: Directors, Senior Management and Employees Directors and Senior Management ..................................... 77 Compensation .................................................... 85 Board Practices ................................................... 77 Employees ...................................................... 25 Share Ownership .................................................. 89 Item 7: Major Shareholders and Related Party Transactions Major Shareholders ................................................ 89 Related Party Transactions ........................................... 91 Item 8: Financial Information (See Item 18) .................................... — Litigation ....................................................... 72 Dividend Policy ................................................... 100 Item 9: The Offer and Listing Price History of the Stock ............................................ 100 Markets ........................................................ 100 Item 10: Additional Information Articles of Association .............................................. 94 Material Contracts ................................................. 111 Exchange Controls ................................................. 109 Taxation ........................................................ 103 Documents on Display .............................................. 109 Subsidiary Information .............................................. 99 Item 11: Quantitative and Qualitative Disclosure About Market Risk .................... 29 Item 12: Description of Securities Other Than Equity Securities ....................... n/a PART II Item 13: Defaults, Dividend Arrearages and Delinquencies ........................... None Item 14: Material Modifications to the Rights of Security Holders ...................... None Use of Proceeds .................................................. 103 Item 15: Controls and Procedures ............................................ 110 Item 16A: Audit Committee Financial Expert ..................................... n/a Item 16B: Code of Ethics ................................................... 110 Item 16C: Principal Accountant Fees and Services .................................. 110 Item 16D: Exemption from the Listing Standards for Audit Committees ................... n/a PART III Item 18: Financial Statements ............................................... F-1 Item 19: Exhibits (See Exhibit Index) .......................................... — i CONTENTS Page Cross References to Form 20-F......................................i Presentation of Financial and Other Information..........................iii Selected Consolidated Financial Data..................................1 Operating and Financial Review......................................3 Key Developments During the 2003 Financial Year......................4 Results of Operations............................................9 Financial Position..............................................21 Other Matters.................................................25 Critical Accounting Policies.......................................26 Quantitative and Qualitative Disclosure About Market Risk................29 Subsequent Events..............................................31 Outlook.....................................................31 Risk Factors....................................................33 Business.......................................................41 Overview.....................................................41 History and Strategy............................................43 Products and Applications........................................45 Customers, Sales and Marketing....................................54 Competition..................................................58 Manufacturing.................................................59 Research and Development.......................................63 Intellectual Property.............................................65 Strategic Alliances..............................................66 Acquisitions and Dispositions......................................70 Employees....................................................71 Legal Matters.................................................72 Environmental Protection and Sustainable Management...................74 Real Property.................................................76 Management....................................................77 Principal Shareholders.............................................89 Transactions and Relationship Between Infineon and the Siemens Group........91 Articles of Association.............................................94 Additional Information............................................99 Organizational Structure..........................................99 Dividend Policy................................................100 Market Information.............................................100 Exchange Rates................................................102 Use of Proceeds................................................103 Taxation.....................................................103 Exchange Controls and Limitations Affecting Shareholders.................109 Documents on Display...........................................109 Controls and Procedures.........................................110 Code of Ethics.................................................110 Principal Accountant Fees and Services...............................110 Material Contracts..............................................111 Glossary.......................................................114 Index to Financial Statements.......................................F-1