Brief: Ams Osram Q1/24 Revenues EUR 847 Mln

ams-OSRAM AG

26/04/2024 06:24

April 26 (Reuters) - AMS OSRAM AG  AMS.VI :
    * DELIVERS SOLID Q1 REVENUES OF EUR 847M, ADJUSTED. EBIT
MARGIN OF
5.2%, RESTRUCTURES MICROLED DEVELOPMENT, WORKS ON EXITING 8-INCH
FAB SLB, ON TRACK FOR POSITIVE FCF (AFTER INTEREST) IN 2025
    * DELIVERS LIKE-FOR-LIKE STRUCTURAL GROWTH WITH SOLID Q1
    * Q1/24: AVAILABLE LIQUIDITY OF EUR 2.1BN (THEREIN EUR 1.1BN
IN
CASH, EUR 800M RCF, EUR 206M BILATERAL FACILITIES)
    * Q1/24: REVENUES EUR 847 M, ADJUSTED. EBIT EUR 44M (5.2%),
ADJUSTED. EBITDA EUR 124M (14.6%)
    * FREE CASH FLOW (BEFORE NET INTEREST) 2024: RECONFIRMED TO
BE
POSITIVE
    * REDUCTION OF DEBT BY AROUND EUR 400M TARGETED (SLB VALUE)
    * EXPECTS Q2 REVENUES TO DECLINE IN LINE WITH TYPICAL
SEASONALITY,
PRONOUNCED BY WEAKNESS IN INDUSTRIAL & MEDICAL MARKETS AND LAND
IN A RANGE OF EUR 770 - 870 MILLION
    * EXPECT IMPROVEMENT IN SECOND HALF OF YEAR, DRIVEN BY NEW
BUSINESS WINS AND A POTENTIAL NORMALIZATION IN SOME INDUSTRIAL
AND MEDICAL BUSINESS SEGMENTS
    * COMPANY CONTINUES TO EXPECT FREE CASH FLOW EXCLUDING NET
INTEREST PAID TO BE POSITIVE IN 2024
    * Q2 ADJUSTED. EBITDA IS EXPECTED TO COME IN ACCORDINGLY, IN
LINE
WITH FALL-THROUGH, AT 14% TO 17%
    * COMPANY EXPECTS TO EXIT CERTAIN NON-CORE SEMICONDUCTOR
BUSINESSES WITH EUR 300 TO 400 MILLION OF 2023 REVENUES
    * FY CAPEX IS NOW EXPECTED TO COME IN BELOW EUR 450 MILLION
    * 'RE-ESTABLISH--BASE' PROGRAM IS EXPECTED TO DELIVER
APPROXIMATELY EUR 75 MILLION RUN-RATE IMPROVEMENTS TO ADJUSTED
EBIT AT END OF FY24

Source text for Eikon:  ID:nEQ2FQjxSa 
Further company coverage:  AMS.VI 

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