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Infineon Technologies AG reported results for the first quarter of the 2024 fiscal year (period ended 31 December 2023).
“In the prevailing difficult macroeconomic climate, Infineon is proving robust,” says Jochen Hanebeck, CEO of Infineon. “In consumer, communication, computing and IoT applications, we are not anticipating a noticeable recovery in demand until the second half of the calendar year. Our expectations for the automotive sector remain virtually unchanged from November, despite a slowdown in demand in electromobility outside China. As a company, we are consistently adapting to this situation, so that we meet our financial targets for the current fiscal year. At the same time, we remain committed to our major investments for the future, as we want to exploit the long-term growth opportunities arising from decarbonization and digitalization.”
For the full version of this news release (incl. financial data), please download the PDF version:
- Q1 FY 2024: Revenue €3.702 billion, Segment Result €831 million, Segment Result Margin 22.4 percent.
- Outlook for FY 2024: Based on an assumed exchange rate of US$1.10 to the euro, (previously US$1.05), Infineon now expects to generate revenue of around €16 billion plus or minus €500 million, with a Segment Result Margin in the low to mid-twenties percentage range at the mid-point of the guided revenue range. Adjusted gross margin should be in the low to mid-forties percentage range. Investments were now reduced to approximately €2.9 billion. Free Cash Flow adjusted for major investments in frontend buildings and the acquisition of GaN Systems should be around €1.8 billion and reported Free Cash Flow around €200 million. RoCE at about 11 percent expected.
- Outlook for Q2 FY 2024: Based on an assumed exchange rate of US$1.10 to the euro, revenue of around €3.6 billion expected. On this basis, the Segment Result Margin is forecast to be at about 18 percent.
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VMAX, a leading Chinese manufacturer of power electronics and motor drives for new energy vehicles, has selected the new CoolSiC™ hybrid discrete with TRENCHSTOP™ 5 Fast-Switching IGBT and CoolSiC Schottky Diode from Infineon Technologies AG for its next generation 6.6 kW OBC/DCDC on-board chargers.
Infineon’s components come in a D²PAK package and combine ultra-fast TRENCHSTOP 5 IGBTs with half-rated free-wheeling SiC Schottky barrier diodes to achieve a perfect cost-performance ratio for both hard and soft switching topologies. With their superior performance, optimized power density and leading quality, the power devices are ideally suited for VMAX’s on-board chargers.
“We are proud to choose Infineon’s CoolSiC Hybrid device in our next-generation OBC, achieving higher reliability, stability, improved performance, and power density. This deepens our already strong partnership with Infineon and drives technological application innovation through close collaboration, working together to promote the thriving development of new energy vehicles,” said Jinzhu Xu, PL Director& Chief Engineer, R&D Department at VMAX.
“We are excited to strengthen our partnership with VMAX with our highly efficient hybrid products,” said Robert Hermann, Vice President for Automotive High Voltage Chips and Discretes at Infineon. “Together, we will continue to drive e-mobility advancements, providing efficient solutions that meet the requirements of the industry in terms of performance, quality and system cost.”
With its fast, hard switching TRENCHSTOP 5 650 V IGBT co-packed with zero reverse recovery CoolSiC Schottky diode, the hybrid discrete benefits from very low switching losses at switching speeds above 50 kHz. This makes the device an excellent option for high-power electric vehicle charging systems.
In addition, the robust 5 th generation CoolSiC Schottky diode offers increased robustness against surge currents, maximizing reliability. Furthermore, the diffusion soldering of the SiC diode has improved the thermal resistance (R th) to the package for small chip sizes, resulting in increased power switching capability.
With these features, it enables optimum system reliability and longevity, meeting the stringent requirements of the automotive industry. To further maximize compatibility with existing designs, the product also features a pin-to-pin compatible design based on the widely used D²PAK package.
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Infineon Technologies AG announced that Infineon and Honda Motor Co., Ltd. have signed a Memorandum of Understanding (MoU) to build a strategic collaboration. Honda selects Infineon as semiconductor partner to align future product and technology roadmaps.
The two companies also agreed to continue discussions on supply stability, as well as to encourage transferring mutual knowledge and collaborate on projects aimed at accelerating the time to market of technologies.
“Infineon’s system understanding, our broad product portfolio and outstanding quality have made us an appreciated partner to Japan’s automotive industry,” said Peter Schiefer, President of the Automotive Division at Infineon. “We are honored to be the semiconductor partner for a strategic collaboration with Honda. Intensifying a long-standing partnership even further is always a confirmation of the added value created and at the same time an expression of the trust in contributing to future successes.”
Infineon will support Honda with technologies to enable competitive and advanced vehicles. The technical support will focus on the area of power semiconductors, Advanced Driver Assistance Systems (ADAS), and E/E architectures, where both parties will collaborate on new architecture concepts.
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Infineon Technologies AG announced a partnership with Shenzhen based Sinexcel Electric Co., Ltd., a global leader in core power equipment and solutions for the Energy Internet. Infineon will provide Sinexcel with its industry-leading 1200 V CoolSiC™ MOSFET power semiconductor devices in combination with EiceDRIVER™ compact 1200 V single-channel isolated gate drive ICs to further improve the efficiency of energy storage systems.
Driven by the carbon peaking and carbon neutrality strategy and the new energy wave, the domestic energy storage market has maintained sustained and rapid development in recent years. According to the Chinese Ministry of Industry and Information Technology, in the first half of 2023, the newly installed capacity of energy storage reached 8.63 GWh, equivalent to the total installed capacity of previous years.
The efficiency and power density of energy storage systems are important factors of product competitiveness, while the size, weight and cost of energy storage systems are closely related to the energy conversion efficiency and directly affect the product cost. Therefore, power semiconductor components play a crucial role.
“The SiC power solution is an important component for future green energy production and storage applications. Infineon’s cooperation with Sinexcel in the field of energy storage inverters enables energy storage systems to achieve advantages such as high efficiency, small size, and light weight, providing a solid guarantee for high-reliability and high-performance energy storage systems,” said Mr. Yu Daihui, Senior Vice President of Infineon Technologies and Head of Green Industrial Power Division in Greater China.
“By using Infineon’s SiC devices, Sinexcel’s energy storage products are obviously more compact and flexible, with significantly higher efficiency and lower losses, which reduces the heat dissipation cost of systems, is conducive to the long-term efficient and stable operation of products, and helps end users improve their operational stability and shorten their return on investment cycle.
This greatly improves the system competitiveness of our products and enhances the trust of clients in our energy storage products and the brand awareness of Sinexcel. We hope that in the future, Infineon will further provide high-performance and high-stability components to help enhance the competitiveness of Sinexcel’s products on the client side,” said Mr.Wei Xiaoliang, Deputy General Manager of Sinexcel.
With more than 20 years of product development and application experience in the SiC field, Infineon has been working nonstop to develop more sophisticated SiC products. Due to their high power density, Infineon’s 1200 V CoolSiC MOSFETs can reduce losses by 50 percent and provide ~2 percent additional energy without increasing the battery size, which is especially beneficial for high-performance, lightweight and compact energy storage solutions.
By using Infineon’s 1200 V CoolSiC MOSFETs and EiceDRIVER compact 1200 V single-channel isolated gate drive ICs, Sinexcel’s energy storage converters achieve high power density, minimum electromagnetic radiation and interference, high protection performance and high reliability. This allows a system efficiency of up to 98 percent, which is 1 percent higher than that of traditional solutions, reaching the industry-leading level and better meeting the needs of on-grid and off-grid energy storage applications in both domestic and overseas markets.
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Acquired by Infineon Technologies in October 2023, GaN Systems has been recognized as the “Graduate Of The Year” by The Global Cleantech 100. The announcement was made at Cleantech Forum North America in San Francisco.
The award recognizes the exceptional contribution legacy GaN Systems has made to sustainable innovation and their successful management team as rated by the financial investors on the 80-member Cleantech Group Expert Panel. This 2024 award rounds out several years of recognition in GaN Systems’ sustainability journey which includes entry in to the Global Cleantech 100 Hall of Fame (1 of only 14 companies ever) and the 2023 Global Cleantech 100 winner (1 of only 100 companies globally in 2023).
The acquisition of GaN Systems has significantly accelerated Infineon’s gallium nitride (GaN) roadmap and further strengthens its leadership in power systems by offering a broad product portfolio combined with leading edge application know-how in the development of GaN-based solutions. Infineon’s expertise and in-depth knowledge in GaN paves the way for more energy-efficient and CO 2-saving technology solutions that support decarbonization.
“My congratulations go out to all legacy GaN Systems employees for this recognition and winning multiple Cleantech awards. We are glad to have these smart and curious minds on board at Infineon,” said Adam White, Division President at Power & Sensor Systems at Infineon. “Thanks to unrivalled R&D resources, a comprehensive understanding of applications and a large number of customer projects, Infineon now leverages the full potential of GaN Systems to become a leading GaN Powerhouse fostering the transformation towards green energy.”
Cleantech® Group is a leading global authority on global cleantech innovation. The Global Cleantech 100 program has been running since 2009. This highly anticipated annual report publishes a list of companies with the most promising ideas in cleantech.
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Infineon Technologies AG announced its joint Innovation Application Center in Shenzhen with Anker Innovations, a global leader in charging technology. With the center already fully operating, it is paving the way for more energy-efficient and CO2-saving charging solutions that support decarbonization.
Driven by the growing consumer demand for faster charging solutions due to an increasing usage of mobile devices, laptops and other battery-powered devices, the idea of establishing an Anker-Infineon Innovation Application Center dated back to 2021. After two years of preparation, the joint lab now serves as R&D hub for industry experts to develop power-delivery (PD) fast charging solutions with higher power density, mainly based on Infineon’s next-generation Hybrid Flyback (HFB) controller product family and the CoolGaN™ IPS for fast chargers above 100W.
Anker has already brought several successful products to the market, such as the industry-leading 100W+ fast charger device powered by Infineon’s CoolGaN in 2022. With the Innovation Application Center Anker and Infineon will even shorten the application cycle and accelerate the time to market for future products.
“Anker is an important customer for Infineon,” said Christian Burrer, Vice President of Systems & Application Marketing of Power & Sensor Systems Division at Infineon Technologies. “We have already started a strong cooperation in the charging field, with product and system solutions covering several Infineon product lines. In the field of PD charging, we provide our customers a comprehensive product portfolio, including state-of-the-art power controllers, first-class switching power supplies, leading silicon MOSFET and GaN transistor performance, and more.”
Beyond charging solutions, the joint lab is focusing on a more diversified range of consumer applications, driven by Infineon’s expertise in wide-bandgap materials such as gallium nitride (GaN). The acquisition of GaN Systems in 2023 has significantly accelerated Infineon’s GaN roadmap and further strengthens its leadership in power systems through mastery of all relevant power semiconductor technologies.
“In 2023, Anker achieved success in many markets such as China and Europe. This would not have been possible without Infineon’s GaN technology solutions and the strong collaboration between our companies. We look forward to even intensifying our partnership with Infineon”, said by Kang Xiong, General Manager of the charging business unit at Anker Technologies.
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Infineon Technologies AG and Wolfspeed, Inc. announced the expansion and extension of their existing long-term 150mm silicon carbide wafer supply agreement, originally signed in February 2018. The extended partnership includes a multi-year capacity reservation agreement.
It contributes to Infineon’s general supply chain stability, also with regard to the growing demand for silicon carbide semiconductor products for automotive, solar and EV applications and energy storage systems.
“As the demand for silicon carbide devices continues to increase, we are following a multi-source strategy to secure access to a high-quality, global and long-term supply base of 150mm and 200mm SiC wafers. Our prolonged partnership with Wolfspeed further strengthens Infineon’s supply chain resilience for the coming years,” said Jochen Hanebeck, CEO of Infineon Technologies. “We have been working with Wolfspeed for more than 20 years to bring the promise of silicon carbide to the automotive, industrial and energy markets, and to help customers leverage this energy-efficient technology to foster decarbonization.”
The adoption of silicon carbide-based power solutions is rapidly growing across multiple markets. Silicon carbide solutions enable smaller, lighter and more cost-effective designs, converting energy more efficiently to unlock new clean energy applications. To better support these growing markets, Infineon is continuously diversifying its supplier base to secure access to high-quality silicon carbide substrates.
“Wolfspeed is the world’s leader in silicon carbide production. We are the catalyst in the industry transition to silicon carbide, providing high-quality materials to key customers like Infineon, a leading supplier in both the automotive and industrial markets, while also scaling our capacity footprint,” said Wolfspeed president and CEO Gregg Lowe. “Industry estimates indicate demand for silicon carbide devices, as well as the supporting material, will grow substantially through 2030, representing a $20 billion annual opportunity. We are very pleased to continue our partnership with Infineon and to serve as a major supplier of silicon carbide wafers in the years ahead.”
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Infineon Technologies AG announced its partnership with OMRON Social Solutions Co. Ltd., a pioneering company in social systems technology. Combining Infineon’s first-class gallium nitride (GaN) based power solutions with the innovative circuit topology and control technology of OMRON now enables one of Japan’s smallest and lightest vehicle-to-everything (V2X) charging systems by OMRON Social Solutions.
This partnership will further drive innovation towards wide bandgap materials in power supplies, help to accelerate the transition to renewable energies, a smarter grid, and the adoption of electric vehicles, while fostering decarbonization and digitalization.
For the V2X system, KPEP-A series, Infineon’s CoolGaN™ technology is utilized combined with a unique control technology. OMRON Social Solutions has upgraded its EV charger and discharger system now allowing for bi-directional charging and discharging paths between renewable energy sources, the grid, and EV batteries.
The KPEP-A series is one of the smallest and lightest multi-V2X systems in Japan with a 60% reduction in size and weight compared to similar conventional charger and discharger designs yet providing a charging capability of 6 kW. With the integration of Infineon’s CoolGaN solution, the power efficiency of the V2X systems has increased by more than 10% at light load and around 4% at rated load. By improving efficiency and a reduction in size and weight, the new system allows easier installation and maintenance while enabling more elegant designs and offering a wider range of options for installation locations.
“We are thrilled to partner with OMRON Social Solutions as our CoolGaN based solutions directly contribute to speed up the transition to renewable energies which reduces CO2 emissions and drives decarbonization,” said Adam White, Division President Power & Sensor Systems at Infineon. “It will also make charging of electric vehicles easier and more convenient for consumers, helping to overcome one of the biggest barriers to EV adoption.”
Atsushi Sasawaki, Managing Executive Officer and Senior General Manager for Energy Solutions Business of OMRON Social Solutions said: “Having access to a broad portfolio of WBG solutions significantly increases the functionality, performance and quality of our products. With Infineon, we get the best-in-class application know-how for creating new and improved charging and discharging systems, providing a high level of satisfaction for our customers and end-users. We look forward to further developing GaN- and SiC-based power solutions together with Infineon to help drive renewable energy and electric vehicles.”
Wide bandgap semiconductors made of silicon carbide and gallium nitride differ significantly from conventional semiconductors as they allow for greater power efficiency, smaller size, lighter weight, and lower overall cost. Infineon offers the broadest product and technology portfolio including silicon, silicon carbide and gallium-nitride-based devices.
As the leading power supplier with more than two decades of heritage in SiC and GaN technology development, Infineon caters to the need for smarter, more efficient energy generation, transmission, and consumption.
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Florian Martens will take over as global Head of Communications & Public Policy at Infineon Technologies AG on 1 March 2024. As Executive Vice President and Chief Communications Officer, he will report to Jochen Hanebeck, CEO of Infineon. Florian Martens succeeds Bernd Hops, who has left Infineon at his own request effective 30 September 2023.
“On its ambitious growth path, Infineon needs to communicate effectively with a wide range of stakeholders. With Florian Martens, we have found an internationally recognized communications professional for this strategic management task. We are very pleased to welcome him to our team with his extensive experience and expertise,” says Jochen Hanebeck, CEO of Infineon Technologies AG.
Florian Martens joins from Siemens AG, where he is responsible for global Media Relations, Executive Communications and Thought Leadership activities since June 2020. Together with his team, he contributed significantly to Siemens’ new external positioning as a leading global technology company.
“Semiconductors are the hearts and brains of our digital world. There is no more exciting and relevant industry for the digital and green transformation. Infineon is a global champion in this key industry and I am delighted to be part of this team going forward. At the same time, I would like to thank all my colleagues for a great time at Siemens,” says Florian Martens.
Before joining Siemens, Florian Martens spent 15 years at Daimler AG, most recently as Head of Global Communications at Daimler Truck AG, the world’s largest commercial vehicle manufacturer. At Daimler, he held various management positions in Germany and abroad, including in Corporate Communications and Product Strategy at Mercedes-Benz Passenger Cars. He holds a Bachelor of Science from the University of Wisconsin (Madison USA) and a Masters of Business Administration from the Technical University of Munich.
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Infineon Technologies AG has formalized an agreement with silicon carbide (SiC) supplier SK Siltron CSS. Under the agreement, SK Siltron CSS will provide Infineon with competitive and high-quality 150-millimeter SiC wafers, supporting the production of SiC semiconductors. In a subsequent phase, SK Siltron CSS will play an important role in assisting Infineon’s transition to a 200-millimeter wafer diameter.
“For Infineon, supply chain resiliency is about implementing a multi-supplier strategy and thriving in times of adversity to create new growth opportunities and drive decarbonization,” said Angelique van der Burg, Chief Procurement Officer at Infineon. “We are excited to partner with SK Siltron CSS to serve the growing SiC demand of our broad customer base with new energy-efficient and top-quality products, matching the highest standards in the SiC market.”
“With decades of experience in silicon carbide materials and manufacturing, we bring unparalleled knowledge to our sustainably manufactured compound semiconductor solutions. This wealth of experience is a cornerstone in our partnership with Infineon,” said Jianwei Dong, Ph.D., CEO of SK Siltron CSS. “This long-term supply agreement marks the synergy of our extensive expertise and Infineon’s vision to make life easier, safer and greener for generations to come.”
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