Brief: Ams OSRAM Q4 Revenues AT EUR 908 Mln

ams-OSRAM AG

09/02/2024 06:25

Feb 9 (Reuters) - AMS OSRAM AG  AMS.VI :
    * Q4/23: REVENUES OF EUR 908 MILLION, ABOVE MIDPOINT OF THE
GUIDANCE RANGE
    * Q4/23: ADJUSTED. EBIT MARGIN OF 6.9%, OR EUR 62 MILLION,
ABOVE
THE MIDPOINT OF THE GUIDED RANGE
    * Q1/24: EXPECTED FIRST QUARTER 2024 REVENUES OF EUR 800 TO
900
MILLION WITH ADJUSTED. EBIT MARGIN OF 4% – 7% DRIVEN BY USUAL
SEASONALITY AND WEAK INDUSTRIAL & MEDICAL MARKET
    * FY/23: REVENUES OF EUR 3.59 BILLION
    * FY/23: ADJUSTED. EBIT MARGIN OF 6.5%, OR EUR 233 MILLION
    * IN 2023, COMPANY ALSO UPDATED ITS MID-TERM TARGET
FINANCIAL MODE
    * CONTINUES TO SEE WEAK DEMAND FROM INDUSTRIAL AND MEDICAL
MARKETS
    * THE COMPANY TARGETS TO GROW 6% TO 10% CAGR, UNDERPINNED BY
A
STRONG DESIGN-WIN BASE, AND TARGETS AN ADJUSTED EBIT MARGIN OF
AROUND 15% BY 2026
    * EXPECTS FIRST QUARTER REVENUES TO DECLINE IN LINE WITH
TYPICAL
SEASONALITY, PRONOUNCED BY WEAKNESS IN INDUSTRIAL & MEDICAL
MARKETS IN A RANGE OF EUR 800 – 900 MILLION
    * OPERATING CASH FLOW AT EUR 80 MILLION IN Q4 2023 COMPARED
TO EUR
199 MILLION IN Q3
    * EBIT IS EXPECTED TO COME IN ACCORDINGLY, IN LINE WITH
TYPICAL
FALL-THROUGH, AT 4% TO 7% IN Q1 2024
    * EXPECTS TO EXIT CERTAIN NON-CORE SEMICONDUCTOR BUSINESSES
WITH
EUR 300 TO 400 MILLION OF 2023 REVENUES
    * THE ‘RE-ESTABLISH-THE-BASE’ PROGRAM IS EXPECTED TO DELIVER
APPROXIMATELY EUR 75 MILLION RUN-RATE IMPROVEMENTS TO ADJUSTED
EBIT AT THE END OF FY2024
    * Q4 ADJUSTED DILUTED EARNINGS PER SHARE AT MINUS EUR 0.03
COMPARED TO EUR 0.11 IN THE PREVIOUS QUARTER

Further company coverage:  AMS.VI 

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