Switzerland · Delayed Price · Currency is CHF ams-OSRAM AG Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong core growth, positive free cash flow, and progress in Digital Photonics and deleveraging. Guidance for 2026 remains unchanged, with all near-term maturities covered and transformation programs on track.
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Q1 2026 results exceeded guidance, with 9% core portfolio growth and strong Digital Photonics progress. Free cash flow was positive, divestments advanced, and 2026 guidance remains unchanged despite FX and transformation costs.
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A major portfolio reshaping is underway, highlighted by the EUR 570 million sale of the non-optical sensor business to Infineon and further deleveraging steps. The company is refocusing on digital photonics, targeting strong growth and margin expansion, with leverage expected to fall below 2x after key divestments.
Fiscal Year 2025
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Core semiconductor business grew 7% year-over-year, achieving global LED leadership and strong design wins. Q4 revenues and profitability exceeded guidance, with EUR 144 million free cash flow and improved leverage. Outlook for 2026 is cautious due to divestments, FX, and precious metal costs.
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Achieved global LED leadership and strong design-win momentum, with core semiconductor growth and improved margins despite FX and cost headwinds. Major divestments and cost programs strengthen liquidity and reduce leverage, while 2026 faces margin pressure from one-offs and precious metal prices.
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Q3 saw revenues above guidance midpoint and improved profitability, with strong core semiconductor growth and cost savings ahead of plan. Asset disposals and liquidity measures are progressing, while FX headwinds and market uncertainties persist.
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Q2 2025 saw improved profitability and margin expansion despite a 5% revenue decline year-over-year, with strong cost savings and liquidity. Asset disposals and bond refinancing support deleveraging, while new design wins and stable end markets underpin a positive outlook.
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Q2 2025 saw improved profitability and an 18.8% adjusted EBITDA margin, despite a 5% revenue decline year-over-year. Asset disposals, refinancing, and €160 million in run-rate savings support a positive outlook, with H2 expected to be stronger and free cash flow above €100 million.
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Q1 2025 saw revenues of EUR 820 million and a 16.4% adjusted EBITDA margin, with cost savings and new products driving profitability despite cyclical and FX headwinds. Liquidity remains strong, deleveraging is on track, and full-year free cash flow is expected above EUR 100 million.
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Q1 revenues exceeded guidance midpoint at EUR 820 million, with improved adjusted EBITDA margin and strong cost savings. Book-to-bill rose above one, and full-year free cash flow is expected to surpass EUR 100 million, supported by new design wins and asset sales.
Fiscal Year 2024
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Q4 and full-year 2024 saw stable revenues and improved profitability, with positive free cash flow and strong core semiconductor growth offsetting declines in non-core and lamps segments. Guidance for 2025 anticipates a weak first half but stronger H2, driven by project ramps and cyclical recovery.
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Turnaround efforts drove improved profitability and positive free cash flow in 2024, with core semiconductors growing 7% and nearly €5 billion in new business wins. FY2025 is expected to be flat overall, with a stronger second half and free cash flow exceeding €100 million.
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Q3 revenues rose 8% sequentially to €881 million, with adjusted EBITDA up 23% to €166 million, driven by strong semiconductor and consumer device performance. The company is ahead on cost savings, targets positive free cash flow in 2025, and expects 6–10% CAGR in core semiconductors.
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Q2 2024 saw revenues at €819 million with improved profitability and strong liquidity, despite negative free cash flow due to timing effects and elevated CapEx. Automotive semiconductors drove growth, while non-core divestments and restructuring progressed. Guidance for Q3 and H2 remains positive.
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Q2 2024 saw solid profitability despite a slight revenue decline, with adjusted EBITDA up 9% quarter-over-quarter and strong cost savings progress. Automotive and consumer design wins drove EUR 2.5 billion in new business, while CapEx and free cash flow are expected to improve in H2.