Osram consistently continues its path to becoming a photonics company
- Long-term strategy of the company remains intact
- Management Board reacts decisively to weaker market development
The high-tech Osram group is continuing to develop into a photonics company. Despite the current headwind in some markets, the long-term strategy is intact. "We are continuing to transform ourselves into a high-tech photonics company and an important partner in a networked world," said CEO Olaf Berlien at the Annual General Meeting of OSRAM Licht AG. As in the previous year, shareholders will receive a dividend of EUR 1.11 per share.
The second half of the past fiscal year was marked by a slowdown in some markets, particularly China, the automotive market and general lighting. With a slight comparable increase in revenue to EUR 4.1 billion, the company achieved an adjusted EBITDA of EUR 605 million (continuing and discontinued operations). The economic uncertainties persist, as was observed in the first quarter of the current financial year. The Management Board already has initiated a number of countermeasures. Among other things, the savings targets were raised to EUR 160 to 180 million by 2020.
“We are focusing on the right trends and attractive markets, and we have a clear strategy for the digital future," Berlien said. "Despite many adversities, our company has held its ground in the market. Osram is and will remain a financially sound company," confirmed CFO Ingo Bank.
OSRAM, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to networked, intelligent lighting solutions in buildings and cities. OSRAM utilizes the infinite possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations will enable people all over the world not only to see better, but also to communicate, travel, work, and live better. As of the end of fiscal year 2018 (September 30), OSRAM had approximately 26,200 employees worldwide. It generated revenue of more than €3.8 billion from continued operations in fiscal year 2018. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com.
This document contains forward-looking statements and information, i.e. statements about events that lie in the future rather than the past. These forward-looking statements can be identified by words such as 'expect', 'want', 'anticipate', 'intend', 'plan', 'believe', 'seek', 'estimate', 'will', and 'predict'. Such statements are based on current expectations and certain assumptions made by OSRAM's management, so they are subject to various risks and uncertainties. A wide range of factors, many of which are beyond OSRAM's control, have an influence on the business activities, success, business strategy, and results of OSRAM. These factors may cause the actual results, success, and performance of OSRAM to differ significantly from those expressly or implicitly communicated in the forward-looking statements or from those that are expected on the basis of past trends. In particular, these factors include, but are not limited to, the circumstances described in the report on risks and opportunities contained in the annual report of the OSRAM Licht Group. If one or more of these risks or uncertainties materializes, or should the underlying assumptions prove incorrect, the actual results, performance, and success of OSRAM may differ significantly from those described in forward-looking statements as being expected, anticipated, intended, planned, believed, sought, estimated, or projected. OSRAM assumes no obligation, nor does it intend, to update these forward-looking statements above and beyond the legal requirements or to adjust them in light of unexpected developments. Due to rounding, numbers presented in this and other reports may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures to which they relate.