OSRAM raises outlook for financial year 2017
Due to strong financial results and based on the expectation of ongoing positive prospects for the second half of financial year 2017, the management board of OSRAM Licht AG (OSRAM) decided today to raise the forecast for financial year 2017 as follows: Comparable growth (continued operations) is now expected in the 7-9 percent range (previously: 5-7 percent) and adjusted EBITDA-margin (continued operations) is now expected in the 16.5-17.5 percent range (previously: at least 16 percent). In addition, OSRAM expects earnings per share (diluted, continued operations) in a range of €2.70-2.90 (previously: €2.35-2.65) and confirms the guidance for free cash flow at break-even.
In the second quarter of financial year 2017, based on preliminary results, OSRAM achieved for its continued operations revenues of €1.05 billion (9.7 percent comp. growth), an adjusted EBITDA-margin of 17.4 percent and earnings per share (diluted) of €0.81.
OSRAM will publish its preliminary results (continued operations) for the second quarter of financial year 2017 on 3 May 2017. Final results for the second quarter of financial year 2017 as well as the first half of financial year 2017 will be published by OSRAM on 12 May 2017.
This notification contains forward-looking statements, which are based on the current expectations and assumptions of the management board of OSRAM. These are subject to certain known and unknown risks, uncertainties and other factors. Should any of these risks or uncertainties materialize, actual results, the financial position, performance or development of OSRAM may vary materially from the estimations included in this notification. OSRAM assumes no obligation to update or revise these forward-looking statements in light of future events or developments. Explanations and reconciliations of financial measures used can be found in the Annual Report 2016 of OSRAM Licht AG, available at http://www.osram-group.de/~/media/Files/O/Osram/documents/en/publications/annual-reports/2016/osram-annual-report-2016-en.pdf in particular in section A.2.7.
OSRAM, based in Munich, is a globally leading lighting manufacturer with a history dating back about 100 years. The product portfolio includes high-tech applications based on semiconductor technology such as infrared or laser lighting. The products are used in highly diverse applications ranging from virtual reality, autonomous driving or mobile phones to smart and connected lighting solutions in buildings and cities. In automotive lighting, the company is the global market and technology leader. Based on continuing operations (excluding Ledvance), OSRAM had around 24,600 employees worldwide at the end of fiscal 2016 (September 30) and generated revenue of almost €3.8 billion in that fiscal year. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com.