DGAP-Adhoc: OSRAM Licht AG: OSRAM adjusts outlook for fiscal year 2018

Released : 04/24/2018 18:00

DGAP-Ad-hoc: OSRAM Licht AG / Key word(s): Change in Forecast
OSRAM Licht AG : OSRAM adjusts outlook for fiscal year 2018

24-Apr-2018 / 18:00 CET /CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Key word I: Change in forecast guidance

Munich , April 24, 2018

OSRAM Licht AG : OSRAM adjusts outlook for fiscal year 2018

The Managing Board of OSRAM Licht AG decided today to adjust the forecast for fiscal year 2018 (continuing operations). The reasons for this are the uncertain macroeconomic conditions, particularly the weakness of the US dollar against the euro, and the slower business development in the first half of fiscal year 2018. Based on current exchange rates, a comparable revenue increase of 3.0-5.0 percent (previously: 5.5-7.5 percent) and adjusted EBITDA of ~ EUR640 million (previously: ~ EUR700 million ) are now forecast. Furthermore, OSRAM expects earnings per share (diluted) of EUR1.90-EUR2.10 (previously: EUR2.40-EUR2.60 ) and a negative free cash flow of EUR50 million to EUR150 million (unchanged) for fiscal year 2018.

In the second quarter of fiscal year 2018, based on preliminary results, OSRAM achieved revenue of EUR1.01 billion in its continuing operations (growth of 1.8 percent on a comparable basis), an adjusted EBITDA margin of 15.1 percent, and earnings per share (diluted) of EUR0.46 . As expected, negative free cash flow amounted to EUR132 million owing to planned capital expenditure in the Opto Semiconductors business unit.

The ' OSRAM future concept' agreed upon with the employee representatives in summer 2017 is entering the next phase as planned. This future concept is designed to facilitate the orderly transformation of the employment structure at the German locations and in non-production functions. This should safeguard the company's competitiveness and profitability over the long term. The Managing Board will now enter into further talks with the employee representatives on implementation of the necessary measures. According to preliminary estimates, these measures may result in an extraordinary expense before tax of EUR60-70 million . It is not currently possible to predict precisely how long the negotiations with the employee representatives will take. The adjusted outlook for earnings per share (diluted) for the current fiscal year 2018 therefore does not reflect this extraordinary expense.

OSRAM will publish its preliminary results for the second quarter on May 3, 2018 and the final results for both the second quarter and the first half of fiscal year 2018 on May 8, 2018 .

This notification contains particular forward-looking statements that are based on the current assumptions and forecasts of the Managing Board of OSRAM . These are subject to various known and unknown risks, uncertainties, and other factors. Should any of these risks, uncertainties, or other factors materialize, actual results, the financial position, performance, or development of OSRAM may vary materially from the estimates included in this notification. OSRAM assumes no obligation to update or revise these forward-looking statements in light of future events or developments. Explanations and a reconciliation to the financial indicators used can be found in the 2017 Annual Report of OSRAM Licht AG , available at Link, in particular in section A.2.6.

Person making the notification and point of contact:

Andreas Spitzauer
Head of Investor Relations
Investor Relations
Marcel-Breuer-Strasse 6
80807 Munich, Germany
Tel: +49 (0)89 6213 3030img


Andreas Spitzauer
Head of Investor Relations

Investor Relations
Marcel-Breuer-Straße 6
80807 München, Deutschland
Tel. +49 89 6213-3030 img
mailto: a.spitzauer@osram.com

24-Apr-2018 CET /CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: OSRAM Licht AG
Marcel-Breuer-Straße 6
80807 München
Phone: +49 89 6213-0
Fax: +49 89 6213-3629
E-mail: ir@osram.com
Internet: www.osram-group.com
ISIN: DE000LED4000
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich ; Regulated Unofficial Market in Berlin , Dusseldorf , Hamburg , Hanover , Stuttgart , Tradegate Exchange

End of Announcement DGAP News Service

678553  24-Apr- 2018 CET /CEST