Q4 FY 2015: Revenue of €1,598 million; Segment Result €286 million; Segment Result Margin 17.9 percent
• International Rectifier's fourth-quarter margin already meets 15 percent target for Segment Result Margin over economic cycle
• Outlook for Q1 FY 2016: Quarter-on-quarter revenue decrease of 6 percent (plus or minus 2 percentage points) due to seasonal factors, with Segment Result Margin of 14 percent at mid-point of revenue range
• Outlook for FY 2016: Based on an assumed average exchange rate of US$1.10 to the euro, year-on-year revenue growth of 13 percent (plus or minus 2 percentage points) and Segment Result Margin of 16 percent expected

Neubiberg, Germany, November 26, 2015 – Infineon Technologies AG today reported its results for the fourth quarter and the 2015 fiscal year, ended September 30, 2015.

"The integration of International Rectifier has been a success. The fourth-quarter margin generated by the acquired business was already 15 percent and hence in line with Infineon's target for Segment Result Margin over the economic cycle. With that we have achieved our aim more than one year ahead of schedule," stated Dr. Reinhard Ploss, CEO of Infineon Technologies AG. "We will achieve further growth in revenue, earnings and margin in the course of the current 2016 fiscal year."

Infineon's target for Segment Result Margin over the economic cycle. With that we have achieved our aim more than one year ahead of schedule," stated Dr. Reinhard Ploss, CEO of Infineon Technologies AG. "We will achieve further growth in revenue, earnings and margin in the course of the current 2016 fiscal year."
Review of Group financials for the fourth quarter of the 2015 fiscal year
The Infineon Group's revenue edged up by €12 million or 1 percent to €1,598 million in the fourth quarter of the 2015 fiscal year, compared with €1,586 million in the previous quarter. The Industrial Power Control (IPC), Power Management & Multimarket (PMM), and Chip Card & Security (CCS) segments all contributed to revenue growth, whereas the Automotive (ATV) segment recorded a 1 percent decrease.
The gross margin, which included depreciation and amortization related to the purchase price allocation of €17 million rose to 39.0 percent quarter-on-quarter. Gross margin in the preceding quarter was 34.8 percent.
Segment Result improved by 17 percent quarter-on-quarter from €245 million to €286 million in the fourth quarter. The fourth-quarter Segment Result Margin came in at 17.9 percent, compared to 15.4 percent in the preceding three-month period. The margin contributed by the businesses acquired in conjunction with the purchase of International Rectifier, including realized synergy benefits, has improved further since the transaction closed in January, reaching a level of 15 percent by the final quarter of the 2015 fiscal year. The fourth-quarter Segment Result Margin also benefited from a favorable product mix and positive currency factors on the cost side.
The non-segment result improved quarter-on-quarter from minus €126 million to minus €83 million in the fourth quarter of the 2015 fiscal year. The fourth-quarter figure includes €62 million recognized for depreciation and amortization related to the purchase price allocation and other acquisition related expenses. The total amount of €83 million comprises cost of goods sold (€28 million), research and development expenses (€5 million), selling, general and administrative expenses (€39 million) and other operating expenses (€11 million).
Operating income rose from €119 million in the third quarter of the 2015 fiscal year to €203 million in the fourth quarter. Income from continuing operations improved from €105 million to €322 million, while income from discontinued operations decreased from €4 million to €3 million. Net income increased from €109 million in the third quarter to €325 million in the three-month period under report. Besides the significantly improved operating income figure, a net income tax benefit of €131 million recognized in the fourth quarter had a positive impact on net income. The tax benefit comprises income of €209 million resulting from the reversal of a valuation allowance on deferred tax assets, recognized in light of higher earnings expectations. Current tax for the 2015 fiscal year and tax effects related to prior fiscal years worked in the opposite direction.
Earnings per share (basic and diluted) increased from €0.10 in the third quarter 2015 to €0.29 in the fourth.
Adjusted earnings per share1 (diluted) decreased quarter-on-quarter from €0.18 to €0.16 in the fourth quarter of the 2015 fiscal year. For the purposes of calculating adjusted earnings per share (diluted), a number of items were eliminated, most notably acquisition-related depreciation/amortization and other expenses (net of tax) as well as reversals of valuation allowances on deferred tax assets.
Investments – which Infineon defines as the sum of purchases of property, plant and equipment, purchases of intangible assets and capitalized development assets – increased to €279 million in the fourth quarter, compared to €215 million in the preceding three-month period. Depreciation and amortization increased from €205 million to €211 million quarter-on-quarter.
Free cash flow2 from continuing operations amounted to €177 million in the fourth quarter, compared to the third-quarter figure of €220 million. At €429 million, net cash provided by operating activities from continuing operations was more or less unchanged from the previous quarter's figure of €432 million.
The gross cash position went up from €1,842 million at the end of the third quarter to €2,013 million at September 30, 2015. The net cash position improved over the same period from €49 million to €220 million.
Dividend for the 2015 fiscal year: €0.20 per share
Infineon's Management Board and Supervisory Board will propose at the Annual General Meeting, which will be held in Munich on February 18, 2016, that the dividend
1 Adjusted net income and adjusted earnings per share (diluted) should not be seen as a replacement or superior performance indicator, but rather as additional information over and above the net income and earnings per share (diluted) determined in accordance with IFRS. The detailed calculation of adjusted earnings per share is presented on page 9.
2 For definitions and the calculation of free cash flow and of the gross and net cash position, please see page 13.

read more on
https://www.infineon.com/dgdl/INFXX201511-013e.pdf?fileId=5546d46150cc1eda0151422c105204f2

tijd 17.36
De DAX 11.314.35 +144,81 +1,30% Infineon EUR 13,155 +1,58 vol. 8,07 miljoen