英飞凌科技(ADR) 2025年度报告

Contents Contents2Selected consolidated key data3Interim Group Management Report4Group performance in the first halfof the 2026 fiscal year4Operating segment performance in the first halfof the 2026 fiscal year5The Infineon share7Review of the business environment8Review of results of operations9Review of financial condition12Review of liquidity14Employees16Outlook for the 2026 fiscal year17Risks and opportunities18 Condensed Consolidated Interim Financial Statements19Consolidated Statement of Profit or Loss20 Consolidated Statement of Comprehensive Income21Consolidated Statement of Financial Position22Consolidated Statement of Cash Flows23Consolidated Statement of Changes in Equity25Consolidated Statement of Changes in Equity26Notes to the condensed ConsolidatedInterim Financial Statements27Responsibility Statement by the Management Board40Review Report40Supplementary Information42 Selected consolidated key data previously expected, with a broader upturn across many end markets now in sight.The AI boom strengthens further, and our power supply solutions for AI datacenters are in very high demand. The expansion of power infrastructure is gainingmomentum and is becoming an increasingly important growth driver for ourindustrial business. In Automotive, we are seeing positive developments,especially in software-defined vehicles, dampened by a challenging high-voltagebusiness for e-mobility. Further market share gains in Automotive confirm we areoverall on the right track. We are entering the second half of the year withconfidence, while continuing to closely monitor geopolitical and macroeconomicrisks. We are consistently developing and streamlining our organizationalstructure. With a clearer ownership of focus applications, we bring innovativesystem solutions to customers faster and accelerate decision-making.” Interim Group ManagementReport Revenue and earnings increased in the reporting period -Segment Result Margin in the first half of the 2026 fiscal year: 17.5 percent -Improved growth prospects have led to an upcycle revision of the outlook forthe 2026 fiscal year: -Based on an assumed exchange rate of US$1.17 to the euro (previouslyUS$1.15), revenue is now expected to rise significantly year-on-year(previously: moderate increase) -Segment Result Margin should reach around 20 percent (previously: high-teens percentage range)-Free Cash Flow should reach aroundࡆ1.25 billion (previouslyࡆ1.0 billion)-Adjusted Free Cash Flow is now expected to be aroundࡆ1.65 billion(previouslyࡆ1.4 billion)-Return on capital employed (RoCE) still expected to be in the mid-single-digit percentage range Group performance in the first half ofthe 2026 fiscal year -Effective from 1 July 2026, the number of business segments will be reducedfrom four to three. The revised organization will consist of Automotive (ATV),Power Systems (PS), and Edge Systems (ES) Revenue in the first half of the 2026 fiscal year increased byࡆ461 million, or 7percent, toࡆ7,475 million (prior year:ࡆ7,014 million). Higher volumes were themain contributory factor, particularly in servers and data centers for artificialintelligence (AI) as well as in software-defined vehicles. In addition, the acquisitionof Marvell’s automotive Ethernet business in August 2025 contributed to theincrease in revenue. The high-voltage components for electric vehicles businessrecorded a decline in volume. Expected selling price adjustments and negativecurrency effects—mainly due to the weaker US dollar when compared with theprior-year period—also had an adverse impact on revenue. The average euro/USdollar exchange rate was 1.17, compared with 1.06 in the corresponding prior-yearperiod. Operating segment performance in thefirst half of the 2026 fiscal year On 1 October 2025, the “Power Drivers & Signal ICs” product line, which waspreviously allocated to the Green Industrial Power segment, was transferred to thePower & Sensor Systems segment. The figures for the prior-year period have beenadjusted accordingly. The Segment Result increased by 11 percent, fromࡆ1,174 million in the first half ofthe 2025 fiscal year primarily due to higher volumes, toࡆ1,307 in the first half of the2026 fiscal year. While the positive revenue development resulted in a volume-related increase in cost of goods sold, underutilization costs included therein werereduced. Higher expenses from the write-down of inventories as well as negativecurrency effects weighed on the Segment Result. Further information on Infineon’searnings performance is provided in the chapter “Review of results of operations”. The Segment Result Margin in the reporting period was 17.5 percent, comparedwith 16.7 percent in the first half of the 2025 fiscal year. Revenue in the Automotive segment increased in the first half of the 2026 fiscalyear toࡆ3,651 million, compared withࡆ3,610 million in the corresponding prior-year period. The 1 percent increase was mainly driven by the absence of thesignificant inventory reduc