OSRAM announced the adjustment of the 2018 fiscal year forecast to reduce revenue growth

Yesterday, the OSRAM group announced that, given the latest auto industry, the OSRAM board made a process to review the business prospects and decided to adjust the forecast for the 2018 fiscal year (continuous operation).

OSRAM said there were obvious uncertainties affecting the trade and sales restrictions of auto makers and planning risks. In addition, the current operational performance is also affected by delays in the planning of mobile devices and gardening customers. The implementation of these projects is now planned for the year 2019.

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

The OSRAM board has also decided to speed up measures that have been implemented to continue to improve profitability. These measures include a number of goals, including a significant reduction in indirect costs and a restructuring of the factory alliance. At present, OSRAM is developing other measures, including in the field of procurement and improving research and development efficiency.

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

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