AMS Osram slides on Q2 results below expectations, dissapointing outlook

Osram Licht AG

29/07/2022 08:23

** AMS Osram  AMS.S  shares fall 5.1% after the Austrian
sensor maker's Q2 results and Q3 guidance miss market
expectations  urn:newsml:reuters.com:*:nASM000LBW
    ** The Styrian-based firm reports a Q2 revenue at EUR 1.18
bln ($1.21 billion), largely in line with expectations, and an
adjusted EBIT margin at 8.8%, below expectations
    ** AMS Osram expects its Q3 revenue of EUR 1.15-1.25 bln and
an EBIT margin within a 6-9% range
    ** "Q2 was mixed with an unexpected gross margin decline
resulting in an op. performance at the low end of ams' guidance
and below expectations" Vontobel commented 
    ** "Q3 sales guide in-line but margin outlook is clearly
disappointing as cost synergies & effects from divestments of
loss-making businesses do not show any (positive) impact while
market environment gets more demanding" it adds 
    ** AMS Osram shares are at the bottom of Switzerland's
midcaps index  .SMII  



($1 = 0.9765 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))