ams OSRAM post Q4 above mid-point of guidance, delivers EUR 144 m FCF in FY25 and launches EUR 200 m ‘Simplify’ transformation and savings program

Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
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ams OSRAM post Q4 above mid-point of guidance, delivers EUR 144 m FCF in FY25 and launches EUR 200 m ‘Simplify’ transformation and savings program

Key Developments Q4/25:

• Revenues EUR 874 m & 18.4 % adj. EBITDA margin, above the midpoint of guidance 
• +8 % growth yoy in like-for-like semiconductor core portfolio at constant FX
• FCF of EUR 144m (excluding extraordinary inflows according to IAS 19)  
• ‘Re-establish the Base’ (RtB) savings target reached one year ahead of plan with realized run-rate savings of approx. EUR 220 m 

Key Developments FY25:

• Revenue EUR 3,323 m, 18.3 % adj. EBITDA margin (+150 bps yoy)
• +7 % growth yoy in like-for-like semiconductor core portfolio at constant FX
• All-time high semiconductor design wins exceeding EUR 5 bn in 2025 ​​​​​​​
• FCF of EUR 144 m (adjusted for exceptional additional cash-in according to IAS 19)  

Strategy Update:

• EUR 200 m partial re-purchase of 2027 convertible bond on 16 January 2026
• Sale of non-optical sensor business for EUR 570 m in cash to Infineon on 3 February 2026  
• Pro-forma leverage cut to 2.5 x considering EUR 670 m cash-in from divestments 
• Creating the leader in Digital Photonics focusing on intelligent optical semiconductor emitting & sensing technologies
• New 2030 Financial Targets: Semiconductors: mid-to-high single digit revenue CAGR, ≥ 25 % adj. EBITDA; Group: FCF EUR > 200 m, leverage ratio < 2. 
• New ‘Simplify’ savings & transformation program, targeting additional EUR 200m run‑rate savings by FY28 and impacting around 2,000 employees, roughly half of them in Europe

Outlook Q1/26 and Comments on FY26

• Q1/26: revenues EUR 760 m, adj. EBITDA margin of 15 % +/- 1.5 %, at an assumed EUR/USD exchange rate of 1.19, in line with typical Q4/Q1 seasonality and expected deconsolidation effect from closing the sale of Specialty lamps to Ushio Inc.
• FY26: Given the divestments and a weaker USD, the company anticipates a modest year-over-year softening in revenue and foresees adjusted EBITDA to be negatively affected by various one-off impacts related to the divestments, stranded costs, higher precious-metal prices and other factors.

 

Premstaetten, Austria, and Munich, Germany (10 February 2026) – ams OSRAM posts Q4 above mid-point of guidance, delivers EUR 144 m FCF in FY25 and launches EUR 200 m ‘Simplify’ transformation and savings program

“Last year marked an important step towards creating the leader in Digital Photonics. The ‘Re-establish-the Base’ program homed in savings one year faster than planned and our profitability improved despite heavy headwinds. Furthermore, our semiconductor core grew in line with our semiconductor growth model and our technological edge secured €5 billion in new design wins.” said Aldo Kamper, CEO of ams OSRAM. 

“With our announced divestitures and the new ‘Simplify’ transformation and savings program, we are sharpening our competitiveness and regaining the financial freedom to invest purposefully in our growth. We fully focus on our future as the Digital Photonics Powerhouse — uniquely positioned to capture the major Digital Photonics inflection points in automotive, AR smart glasses, biosensing, robotics, AI data-center interconnects and beyond.” added Aldo Kamper.

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