Press Release (pdf)

Segment Result in line with expectations; cost savings taking effect



Q1 FY 2013: Revenue €851 million; Segment Result €44 million
Outlook Q2 FY 2013: revenue expected to increase by a mid single digit
percentage and Segment Result to be slightly up in absolute terms compared
to previous quarter
Outlook FY 2013: revenue forecast to decrease by mid-to-high single digit
percentage compared to previous fiscal year, with Segment Result Margin
remaining at a mid-to-high single digit percentage of revenue despite
headwinds from euro/US dollar exchange rate
Neubiberg, Germany – January 31, 2013. Infineon Technologies AG today reported
results for the first quarter of the 2013 fiscal year, ended December 31, 2012.
in Euro million
3 mo nt hs
end ed
sequential
D ec 3 1, 12
+/- in %
3 mo nt hs
end ed
Sep 3 0 , 12
851
44
5.2%
26
(13)
(62)
(80)
982
116
11.8%
129
Inco me (lo ss) fro m disco ntinued o peratio ns, net o f inco me taxes
(7)
(178)
9
N e t inc o m e
19
(86)
0.02
–
0.02
0.02
–
0.02
Revenue
Segment Result
Segment Result M argin [in %]
Inco me fro m co ntinuing o peratio ns
B asic earnings per share (in Euro ) attributable to shareho lders
o f Infineo n Techno lo gies A G1:
B asic earnings per share (in Euro ) fro m co ntinuing o peratio ns
B asic earnings (lo ss) per share (in Euro ) fro m disco ntinued o peratio ns
B a s ic e a rnings pe r s ha re ( in E uro )
Diluted earnings per share (in Euro ) attributable to shareho lders
o f Infineo n Techno lo gies A G1:
Diluted earnings per share (in Euro ) fro m co ntinuing o peratio ns
Diluted earnings (lo ss) per share (in Euro ) fro m disco ntinued o peratio ns
D ilut e d e a rnings pe r s ha re ( in E uro )
1
year-onyear
+/- in %
(10)
(69)
(75)
3 mo nt hs
end ed
D ec 3 1, 11
946
141
14.9%
104
13
(8)
138
(80)
96
(83)
(100)
(85)
0.12
0.01
0.13
(80)
100
(78)
0.10
(0.01)
0.09
(83)
(100)
(85)
0.12
0.01
0.13
(80)
100
(78)
0.10
(0.01)
0.09
The calculatio n fo r earnings per share is based o n unro unded figures.
“Revenue and earnings are in line with our expectations and cost saving measures are
beginning to take effect. As long as the global economy does not stall, business should
continue to pickup as expected", stated Dr. Reinhard Ploss, CEO of Infineon
Technologies AG. "Our delivery capability at top quality levels will enable us to take
advantage of the chances the market offers.”
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-2-
Review of Group financials for the first quarter of the 2013 fiscal year
Group revenue of Infineon Technologies AG in the first quarter of the 2013 fiscal year
totalled €851 million, 13 percent down on the €982 million recorded in the previous
quarter. This performance was in line with expectations.
Segment Result fell from €116 million in the fourth quarter of the 2012 fiscal year to
€44 million in the first quarter of the current fiscal year, causing the Segment Result
Margin to decline from 11.8 percent to 5.2 percent. The decrease in Segment Result
and Segment Result Margin in the first quarter was attributable to the sharp drop in
revenue. Despite a negative impact of €6 million arising in connection with the euro/US
dollar exchange rate, the scale of the decrease was in line with expectations. The
measures aimed at stabilizing the margin announced in November in conjunction with
the publication of the fourth quarter and 2012 fiscal year results are taking effect.
Income from continuing operations in the first quarter of the 2013 fiscal year amounted
to €26 million, compared with €129 million recorded in the final quarter of the previous
fiscal year. The first quarter loss from discontinued operations was negative €7 million,
marginally down from the positive €9 million reported in the fourth quarter. Overall, net
income fell from €138 million in the fourth quarter to €19 million in the first quarter of the
current fiscal year. Earnings per share declined quarter-on-quarter from €0.13 to €0.02
(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 – amounted to €88 million in the first quarter of the 2013 fiscal year,
compared to investments of €246 million one quarter earlier. The depreciation and
amortization expense increased marginally to €116 million, compared to a fourth-quarter
expense of €115 million.
Free cash flow1 from continuing operations deteriorated from positive €47 million in the
previous quarter to negative €128 million in the first quarter. The principal reasons for
the first quarter's negative free cash flow were the reduction in net income, significantly
lower trade payables due to reduced investment levels and a cash-relevant decrease in
current provisions.
Infineon repurchased 6 million of its own shares during the first quarter of the 2013 fiscal
year for a total of €38 million with put options at an average exercise price of €6.29 per
share. The effective price paid per share, net of all premiums for options exercised or
expired during the quarter, was €5.74.
1
For definitions and the calculation of free cash flow and of gross and net cash position, please see pages 10 and 11.
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-3-
These two factors – negative free cash flow and the repurchase of own shares via put
options – resulted in a reduction in cash levels over the course of the quarter under
report, with the gross cash position down from €2.235 billion at the end of September
2012 to €2.081 billion at December 31, 2012 and the net cash position down from
€1.940 billion to €1.768 billion over the same period.
Outlook for the second quarter of the 2013 fiscal year
Revenue is forecast to rise by a mid single digit percentage in the second quarter of the
2013 fiscal year despite the weakness of the US dollar. The Industrial Power Control
(IPC), Power Management & Multimarket (PMM), Chip Card & Security (CCS) and
Other Operating (OOS) segments are all expected to report revenues at similar levels to
the previous quarter, while the Automotive (ATV) segment is likely to see a distinct
increase. The second quarter Segment Result is expected to be slightly up in absolute
terms compared to the first quarter.
Unchanged outlook for 2013 fiscal year
For the purposes of the outlook for the remainder of the year, Infineon has adjusted its
assumed exchange rate from US dollar 1.25 to US dollar 1.30 to the euro. Despite the
negative impact of this adjustment, Infineon continues to forecast a mid-to-high single
digit percentage decrease in revenue in the 2013 fiscal year compared to one year
earlier. Revenues generated by the ATV, PMM and CCS segments are expected to fare
better than the Group average whereas IPC is expected to fare significantly worse than
the Group average. Revenue of the OOS segment will again fall sharply, as sales to the
previously sold Wireline Communications and Wireless mobile phone businesses are
further reduced.
In margin terms, Infineon continues to forecast a mid-to-high single digit Segment Result
Margin despite the unfavorable development of the euro/US dollar exchange rate. The
measures aimed at stabilizing the margin announced in November in conjunction with
fourth quarter and 2012 fiscal year reporting will continue to have a positive impact on
Segment Result in the coming quarters.
Investments – defined as the sum of purchases of property, plant and equipment,
purchases of intangible assets and capitalized research and development
expenditures – are likely to be in the region of €400 million for the full fiscal year,
compared to depreciation and amortization of approximately €470 million.
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-4-
Segment earnings in the first quarter of the 2013 fiscal year
in %
of total
revenue
in Euro million
3 mo nt hs
end ed
D ec 3 1, 12
sequential
+/- in %
3 mo nt hs
end ed
Sep 3 0 , 12
year-onyear
+/- in %
3 mo nt hs
end ed
D ec 3 1, 11
Inf ine o n
Revenue
Segment Result
100
851
44
5.2%
(13)
(62)
982
116
11.8%
(10)
(69)
946
141
14.9%
44
377
20
5.3%
(9)
(57)
416
47
11.3%
(4)
(64)
391
55
14.1%
16
138
(5)
(3.6%)
(24)
(119)
181
26
14.4%
(30)
(113)
196
39
19.9%
26
222
22
9.9%
(10)
(41)
247
37
15.0%
-
222
40
18.0%
13
108
10
9.3%
(14)
(44)
126
18
14.3%
1
9
(2)
(36)
67
14
(6)
(79)
(150)
43
4
0
(3)
(1)
(50)
83
(2)
(6)
67
(3)
(3)
Segment Result M argin [in %]
A ut o m o t iv e ( A T V )
Segment Revenues
Segment Result
Segment Result M argin [in %]
Indus t ria l P o we r C o nt ro l ( IP C )
Segment Revenues
Segment Result
Segment Result M argin [in %]
P o we r M a na ge m e nt & M ult im a rk e t ( P M M )
Segment Revenues
Segment Result
Segment Result M argin [in %]
(45)
C hip C a rd & S e c urit y ( C C S )
Segment Revenues
Segment Result
Segment Result M argin [in %]
11
67
97
6
6.2%
O t he r O pe ra t ing S e gm e nt s ( O O S )
Segment Revenues
Segment Result
C o rpo ra t e a nd E lim ina t io ns ( C &E )
Segment Revenues
Segment Result
ATV segment revenue amounted to €377 million in the first quarter of the 2013 fiscal
year, down from €416 million in the previous quarter. This 9 percent decrease was due
to adjustments in stocking levels in the automotive supply chain towards the end of the
calendar year. Lower revenue caused the Segment Result to drop to €20 million, giving
a Segment Result Margin of 5.3 percent. The corresponding figures for the preceding
quarter had been €47 million and 11.3 percent respectively.
IPC segment revenue fell quarter-on-quarter by 24 percent from €181 million to €138
million, reflecting generally weak demand across all markets and particularly cautious
buying by distributors in Asia. Lower first-quarter revenue gave rise to a negative
Segment Result of €5 million and a negative Segment Result Margin of 3.6 percent,
compared to positive figures of €26 million and 14.4 percent in the previous quarter.
PMM segment revenue during the first quarter of the 2013 fiscal year totalled €222
million, 10 percent down on the €247 million recorded in the previous quarter. Sales of
products for applications such as game consoles and computers, as well as sales of
power supplies for televisions, were weak during the first quarter due to seasonal
factors. Business with smartphone and cellular network infrastructure related products
developed positively, but was unable to make up for the weaker performance in other
product areas. Segment Result fell from €37 million to €22 million due to declining
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-5-
revenue, causing the Segment Result Margin to decline from 15.0 percent to
9.9 percent.
The CCS segment generated revenue of €108 million in the first quarter of the 2013
fiscal year, down 14 percent from the €126 million reported one quarter earlier and
reflecting weaker demand for SIM cards and payment cards and in government ID. The
Segment Result amounted to €10 million, compared to the previous quarter's
€18 million, bringing the Segment Result Margin down from 14.3 percent to 9.3 percent.
Revenue recorded by Other Operating Segments (OOS) went down as expected from
€14 million to €9 million. These revenues relate primarily to goods and services sold
relating to the previously divested Wireline Communications and Wireless mobile phone
businesses.
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-6-
Analyst and press telephone conferences
Infineon will host a telephone conference call for analysts and investors (in English only)
on January 31, 2013 at 10:00 am (CET), 4:00 am (EST). During the call, the Infineon
Management Board will present the Company’s results from the first quarter of the 2013
fiscal year. In addition, the Management Board will host a telephone conference with the
media at 11:30 am (CET), 5:30 am (EST). 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 Q1 Investor Presentation is available (in English) at:
http://www.infineon.com/cms/en/corporate/investor/reporting/index.html
Infineon Financial Calendar (*preliminary)
 Feb 28, 2013
 Mar 12 – 13, 2013
 May 2, 2013*




Annual General Meeting 2013, Munich (Start: 10:00 am CET)
UBS European Technology Conference, London
Earnings Release for the Second Quarter of the 2013 Fiscal
Year
Jul 30, 2013*
Earnings Release for the Third Quarter of the 2013 Fiscal Year
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 – 21, 2013 Morgan Stanley TMT Conference, Barcelona
About Infineon
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 Euro 3.9 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 overthe-counter market OTCQX International Premier (ticker symbol: IFNNY).
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-7-
FINANCIAL INFORMATION
According to IFRS – Preliminary and Unaudited
Consolidated Statements of Operations
3 m o nt hs e nde d
D ec 3 1, 12
in Euro million; except for the per share data
Revenue
Co st o f go o ds so ld
G ro s s pro f it
Research and develo pment expenses
Selling, general and administrative expenses
Other o perating inco me
Other o perating expense
O pe ra t ing inc o m e
Financial inco me
Financial expense
Inco me (lo sses) fro m investments acco unted fo r using the equity metho d
Inc o m e f ro m c o nt inuing o pe ra t io ns be f o re inc o m e t a xe s
Inco me tax benefit (expense)
Inc o m e f ro m c o nt inuing o pe ra t io ns
Inco me (lo ss) fro m disco ntinued o peratio ns, net o f inco me taxes
N e t inc o m e
A ttributable to :
No n-co ntro lling interests
Shareho lders o f Infineo n Techno lo gies A G
B asic earnings per share (in Euro ) attributable to shareho lders o f Infineo n Techno lo gies A G 1:
Weighted average shares o utstanding (in millio n) – basic
B asic earnings per share (in Euro ) fro m co ntinuing o peratio ns
B asic earnings (lo ss) per share (in Euro ) fro m disco ntinued o peratio ns
B a s ic e a rnings pe r s ha re ( in E uro )
Diluted earnings per share (in Euro ) attributable to shareho lders
o f Infineo n Techno lo gies A G1:
Weighted average shares o utstanding (in millio n) – diluted
Diluted earnings per share (in Euro ) fro m co ntinuing o peratio ns
Diluted earnings (lo ss) per share (in Euro ) fro m disco ntinued o peratio ns
D ilut e d e a rnings pe r s ha re ( in E uro )
1
Sep 3 0 , 12
D ec 3 1, 11
851
(579)
272
(123)
(108)
4
(10)
35
8
(12)
31
(5)
26
(7)
19
982
(638)
344
(123)
(121)
5
(18)
87
7
(16)
(1)
77
52
129
9
138
946
(585)
361
(106)
(118)
4
(12)
129
12
(18)
1
124
(20)
104
(8)
96
19
138
96
1,077
0.02
0.02
1,080
0.12
0.01
0.13
1,082
0.10
(0.01)
0.09
1,078
0.02
0.02
1,132
0.12
0.01
0.13
1,140
0.10
(0.01)
0.09
The calculatio n fo r earnings per share is based o n unro unded figures.
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Email:
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-8-
Segment Revenue and Segment Result
Infineon defines Segment Result as operating income (loss) excluding asset impairments, net of reversals, impact on
earnings of restructuring measures and closures, net, share-based compensation expense, acquisition-related
depreciation/amortization and gains (losses), gains (losses) on sales of assets, businesses, or interests in
subsidiaries, and other income (expense), including litigation settlement costs.
Reconciliation of Total Segment Result to Operating Income
3 m o nt hs e nde d
in Euro million
D e c 3 1, 12
S e p 3 0 , 12
44
116
141
-
(10)
-
(2)
(1)
(1)
(1)
-
(1)
(1)
1
(1)
-
(6)
35
(17)
87
(10)
129
Segment Result
plus/minus
A sset impairment reversals/asset impairments and assets classified as held fo r sale, net
Impact o n earnings o f restructuring measures and clo sures, net
Share-based co mpensatio n expense
A cquisitio n-related amo rtizatio n and lo sses
Gains (lo sses) o n sales o f assets, businesses, o r interests in subsidiaries, net
Other expenses
O pe ra t ing inc o m e
D e c 3 1, 11
Revenue and Segment Result
for the three months ended December 31, 2012 and 2011 and September 30, 2012
3 m o nt hs e nde d
Revenue in Euro million
D e c 3 1, 12
377
138
222
108
9
(3)
851
A uto mo tive
Industrial P o wer Co ntro l
P o wer M anagement & M ultimarket
Chip Card & Security
Other Operating Segments
Co rpo rate and Eliminatio ns
T o tal
3 m o nt hs e nde d
D e c 3 1, 11 +/ - in %
D e c 3 1, 12
S e p 3 0 , 12
+/ - in %
(4)
(30)
11
(79)
(10)
377
138
222
108
9
(3)
851
416
181
247
126
14
(2)
982
(9)
(24)
(10)
(14)
(36)
(50)
(13)
D e c 3 1, 11 +/ - in %
D e c 3 1, 12
S e p 3 0 , 12
+/ - in %
20
(5)
22
10
(2)
(1)
44
47
26
37
18
(6)
(6)
116
(57)
(119)
(41)
(44)
67
83
(62)
391
196
222
97
43
(3)
946
3 m o nt hs e nde d
Segment Result in Euro million
D e c 3 1, 12
20
(5)
22
10
(2)
(1)
44
A uto mo tive
Industrial P o wer Co ntro l
P o wer M anagement & M ultimarket
Chip Card & Security
Other Operating Segments
Co rpo rate and Eliminatio ns
T o tal
55
39
40
6
4
(3)
141
3 m o nt hs e nde d
(64)
(113)
(45)
67
(150)
67
(69)
Employees
Infineo n
1
1
D e c 3 1, 12
Se p 3 0 , 12
26,458
26,658
D e c 3 1, 11
26,026
As of December 31, 2012, September 30, 2012 and December 31, 2011, 4,375, 4,289 and 4,014 Infineon employees, respectively, were engaged in
research and development.
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-9-
Consolidated Statement of Financial Position
in Euro million
D e c 3 1, 12
S e p 3 0 , 12
387
1,694
442
385
585
13
5
152
4
3,282
1,694
153
32
312
123
42
2,356
5,638
425
1,810
539
474
567
6
9
149
5
3,510
1,731
146
32
315
124
40
2,388
5,898
38
440
430
629
37
43
165
1,352
275
292
4
38
7
66
682
2,034
55
622
615
710
69
100
122
1,678
240
293
4
30
8
70
645
2,323
2,161
5,675
(4,180)
19
(37)
(34)
3,604
5,638
2,160
5,674
(4,199)
28
(88)
3,575
5,898
A SSET S:
Current assets:
Cash and cash equivalents
Financial investments
Trade and o ther receivables
therin: Trade acco unts receivables
Invento ries
Inco me tax receivable
Other current financial assets
Other current assets
A ssets classified as held fo r sale
T o t a l c urre nt a s s e t s
P ro perty, plant and equipment
Go o dwill and o ther intangible assets
Investments acco unted fo r using the equity metho d
Deferred tax assets
Other financial assets
Other assets
T o t a l no n- c urre nt a s s e t s
T o tal assets
LIA B ILIT IE S A N D E Q UIT Y :
Current liabilities:
Sho rt-term debt and current maturities o f lo ng-term debt
Trade and o ther payables
therin: Trade acco unts payables
Current pro visio ns
Inco me tax payable
Other current financial liabilities
Other current liabilities
T o t a l c urre nt lia bilit ie s
Lo ng-term debt
P ensio n plans and similar co mmitments
Deferred tax liabilities
Lo ng-term pro visio ns
Other financial liabilities
Other liabilities
T o t a l no n- c urre nt lia bilit ie s
T o t a l lia bilit ie s
Shareho lders' equity:
Ordinary share capital
A dditio nal paid-in capital
A ccumulated deficit
Other reserves
Own shares
P ut o ptio ns o n o wn shares
E quit y a t t ribut a ble t o s ha re ho lde rs o f Inf ine o n T e c hno lo gie s A G
T o t a l lia bilit ie s a nd e quit y
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- 10 -
Infineon Regional Sales Development
3 m o nt hs e nde d
in %
D e c 3 1, 12
S e p 3 0 , 12
D e c 3 1, 11
40%
41%
46%
20%
21%
26%
42%
40%
37%
R e v e nue :
Euro pe, M iddle East, A frica
Therein: Germany
A sia-P acific (w/o Japan)
Therein: China
Japan
A mericas
T o tal
20%
19%
16%
6%
12%
100%
7%
12%
100%
6%
11%
100%
Consolidated Statements of Cash Flows
Gross and Net Cash Position
Infineon defines gross cash position as cash and cash equivalents and financial investments, and net cash position as
gross cash position less short-term debt and long-term debt. Since Infineon holds some of its liquid funds in the form
of financial investments, which for IFRS purposes are not considered to be “cash”, it reports its gross and net cash
positions to provide investors with an understanding of the Company’s liquidity. The gross and net cash position is
derived as follows from the corresponding amounts in the consolidated statement of financial position:
in Euro million
Cash and cash equivalents
Financial investments
G ro s s C a s h P o s it io n
D e c 3 1, 12
S e p 3 0 , 12
387
1,694
2,081
425
1,810
2,235
D e c 3 1, 11
392
1,945
2,337
Less:
Sho rt-term debt and current maturities o f lo ng-term debt
Lo ng-term debt
N e t C a s h P o s it io n
38
55
65
275
1,768
240
1,940
204
2,068
Free Cash Flow
Infineon defines free cash flow as cash flow from operating and investing activities from continuing operations
excluding purchases or sales of financial investments. The presentation of free cash flow provides useful information
to investors because this measure gives an indication of the cash-generating ability of Infineon. Free cash flow is an
additional measure, since Infineon holds a portion of its liquid resources in form of financial investments and it
eliminates changes of financial investments from the cash generated from Infineon’s business. Free cash flow is not
intended to represent the residual cash flow available for discretionary expenditures, since dividends, debt service
requirements or other non-discretionary expenditures are not deducted. Free cash flow includes only amounts from
continuing operations, and is determined as follows from the consolidated statement of cash flows:
3 m o nt hs e nde d
in Euro million
Net cash pro vided by (used in) o perating activities fro m co ntinuing o peratio ns
Net cash pro vided by (used in) investing activities fro m co ntinuing o peratio ns
A djusted fo r: Net purchases (net pro ceeds fro m sales) o f
financial investments
F re e C a s h F lo w f ro m c o nt inuing o pe ra t io ns
D e c 3 1, 12
S e p 3 0 , 12
D e c 3 1, 11
(41)
28
291
(344)
59
(551)
(115)
100
258
(128)
47
(234)
For the Finance and Business Press: INFXX201301-24e
Worldwide Headquarters:
Media Relations
Investor Relations
Name:
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Phone:
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- 11 -
Consolidated Statements of Cash Flows
3 mo nt hs end ed
in Euro million
D ec 3 1, 12
N e t inc o m e
P lus/M inus: net inco me (lo ss) fro m disco ntinued o peratio ns, net o f inco me taxes
Sep 3 0 , 12
D ec 3 1, 11
19
7
138
(9)
96
8
116
5
4
(3)
(1)
1
97
(19)
(181)
(79)
41
(6)
5
(5)
(42)
(41)
115
(52)
10
1
1
10
39
(23)
(8)
98
26
(61)
9
6
(2)
(7)
291
97
20
6
(1)
37
(34)
5
(107)
(67)
22
(20)
7
(7)
(3)
59
(1)
(1)
(27)
(42)
(485)
600
(13)
(75)
1
28
28
(1)
42
(25)
(38)
(22)
(22)
(36)
(2)
425
387
290
(500)
400
(12)
(234)
2
(344)
(2)
(346)
60
(6)
(12)
1
43
43
(13)
(2)
440
425
32
(569)
311
(16)
(278)
1
(551)
(8)
(559)
2
(25)
(50)
(20)
3
(90)
(90)
(617)
2
1,007
392
A djustments to reco ncile net inco me (lo ss) to net cash pro vided by (used in) o perating activities:
Depreciatio n and amo rtizatio n
Inco me tax benefit (expense)
Net interest result
Reco very o f do ubtful acco unts
Lo sses (gains) o n dispo sals o f pro perty, plant and equipment
Expenses (inco me) fro m investments acco unted fo r using the equity metho d
Impairment charges
Share-based co mpensatio n
Change in trade and o ther receivables
Change in invento ries
Change in o ther current assets
Change in trade and o ther payables
Change in pro visio ns
Change in o ther current liabilities
Change in o ther assets and liabilities
Interest received
Interest paid
Inco me tax paid
N e t c a s h pro v ide d by ( us e d in) o pe ra t ing a c t iv it ie s f ro m c o nt inuing o pe ra t io ns
N e t c a s h us e d in o pe ra t ing a c t iv it ie s f ro m
dis c o nt inue d o pe ra t io ns
N e t c a s h pro v ide d by ( us e d in) o pe ra t ing a c t iv it ie s
P urchases o f financial investments
P ro ceeds fro m sales o f financial investments
P urchases o f intangible assets and o ther assets
P urchases o f pro perty, plant and equipment
P ro ceeds fro m sales o f pro perty, plant and equipment and o ther assets
N e t c a s h pro v ide d by ( us e d in) inv e s t ing a c t iv it ie s f ro m c o nt inuing o pe ra t io ns
N e t c a s h us e d in inv e s t ing a c t iv it ie s f ro m dis c o nt inue d o pe ra t io ns
N e t c a s h pro v ide d by ( us e d in) inv e s t ing a c t iv it ie s
Net change in related party financial receivables and payables
P ro ceeds fro m issuance o f lo ng-term debt
Repayments o f lo ng-term debt
Repurchase o f subo rdinated co nvertible bo nds
P ro ceeds fro m issuance o f o rdinary shares
P urchase o f o wn shares
P ro ceeds fro m the issuance o f put o ptio ns o n o wn shares
N e t c a s h pro v ide d by ( us e d in) f ina nc ing a c t iv it ie s f ro m c o nt inuing o pe ra t io ns
N e t c a s h us e d in f ina nc ing a c t iv it ie s f ro m dis c o nt inue d o pe ra t io ns
N e t c a s h pro v ide d by ( us e d in) f ina nc ing a c t iv it ie s
Net decrease in cash and cash equivalents
Effect o f fo reign exchange rate changes o n cash and cash equivalents
Cash and cash equivalents at beginning o f perio d
C a s h a nd c a s h e quiv a le nt s a t e nd o f pe rio d
For the Finance and Business Press: INFXX201301-24e
Worldwide Headquarters:
Media Relations
Investor Relations
Name:
Kay Laudien
EU/APAC/USA/CAN
Phone:
+49 89 234 28481
+49 89 234 26655
Email:
[email protected]
[email protected]
- 12 -
DISCLAIMER
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 forwardlooking statements.
For the Finance and Business Press: INFXX201301-24e
Worldwide Headquarters:
Media Relations
Investor Relations
Name:
Kay Laudien
EU/APAC/USA/CAN
Phone:
+49 89 234 28481
+49 89 234 26655
Email:
[email protected]
[email protected]