Osram Reports Expectable FY3Q20 Financial Results and Includes Supervisory Board Members from AMS

Osram announced the financial results of its fiscal 3Q20. The German company said that the performance was better than expected compared to the main sales markets.

For Osram’s FY 3Q20, its revenue on a comparable basis fell by 29.4% YoY to EUR 606 million (US$ 711.95 million) due to the impact of the Coronavirus crisis. EBITDA before special items was well above expectations with negative EUR 27 million (US$ 31.75 million).

Osram’s Automotive business unit was impacted the most with on-year sales dropped by 35.7% to EUR 282 million (US$ 331.59 million), which was foreseen by the company. The decline in the Opto Semiconductors business unit was less severe, according to Osram, dropping by 19% to EUR 297 million (US$ 348.92 million). Revenues of the Digital units also decreased by 31% to EUR 159 million (US$ 186.96 million).

The company claimed the effectiveness of its COVID-19 measures and is seeing recovery signs in the market with the belief that it is well on track to meet the annual forecast adjusted in June.

The acquisition of Osram by AMS was finally closed on July 9, 2020, after the approval of the EU Commission. AMS has increased its Osram shares from 69% to 71% on July 29 and aims to further accelerate the integration. The Austria company has joined the supervisory board of Osram lately with the independent management consultant Hans-Peter Metzler, AMS board member Thomas Stockmeier and AMS works council member Johann Christian Eitner replacing Roland Busch, Frank H. Lakerveld and Arunjai Mittal.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

The recent outbreak of COVID-19 has prompted the large-scale search for practical solutions that can prevent the spread of the deadly virus — from researchers and scientists committed to finding a solution, to the manufacturers and consu... READ MORE

Nichia’s Tunable 757 receives rave reviews from industry leaders, including the coveted LpS Best Sustainability Technology Award. Nichia, the leader in and inventor of the high-brightness LED, announced its game-changing single LES, tuna... READ MORE