OSRAM announced adjustment of fiscal year 2018 forecast, revenue growth

Yesterday, OSRAM group announced that, in view of the latest developments in the automotive industry, OSRAM's board of directors put forward a review of the business prospects of the program, and decided to adjust the 2018 financial year (continued operation) forecast.

OSRAM said there was a clear uncertainty about the restrictions on Trade and sales and the risk of planning. In addition, the current performance is also affected by the planned delays of customers in the mobile and horticultural sectors, which are now planned for fiscal year 2019.

In view of this, OSRAM announced that the estimated revenue growth interval for the 2018 fiscal year will be reduced from 3-5% to 1-3%, and the adjusted EBITDA (pre tax, pre interest and depreciation booth surplus) will be reduced from 640 million euros to 5.7-6.0 billion euros, and the diluted earnings forecast interval will be reduced from 1.90-2.10 euro to 1.00-1.20 euros.

OSRAM's board of directors also decided to speed up the implementation of measures aimed at continuously improving profitability. These measures include many objectives, including a significant reduction in overhead costs and restructuring of plant alliances. At present, OSRAM is developing other measures, including in the field of procurement and improving the efficiency of research and development.

The board will further develop OSRAM's medium-term strategy, which will be released in the autumn of Capital Markets Day. At the same time, the board will also consider organizing and updating the medium-term financial targets for the group. OSRAM will release its preliminary results in the third quarter in August 1, 2018. (Editor: LED net James)

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