OSRAM Delivers Cost Savings Ahead of Plan

Ams OSRAM delivers cost savings ahead of plan, EUR 12m positive FCF in FY24, Q4 revenues and profitability above mid-point of guided range and expects FY25 - FCF exceeding EUR 100m

Revenues stayed essentially flat at EUR 882 million quarter-over-quarter in Q4/24, above the midpoint of the guided range of EUR 810 – 910 million. Strong seasonal auto lamps aftermarket sales and steady semi automotive business compensated continued weakness in industrial & medical applications and the beginning seasonal decline in semiconductor products for consumer handheld devices. The stronger USD also helped coming in above the midpoint of the guided range.

Year-over-year, Group revenues declined by 3% due to cyclical weakness in automotive and I&M semiconductor businesses and some end-of-life of OEM modules business in Lamps & Systems. The relevant semi core portfolio (excluding the exited non-core portfolio) delivered a growth of approx. 7% year-over-year.

Adjusted EBITDA (adjusted earnings before interest, taxes, depreciation, and amortization) came in at EUR 150 million, i.e. at 17.0% adj. EBITDA margin, above the midpoint of the guided range of 15% - 18%.