• 31.07.2025, 07:16:58
  • /
  • EQS0004

EQS-Adhoc: ams-OSRAM AG: ams OSRAM delivers 18.8 % adj. EBITDA at revenues of EUR 775 m in Q2, confirms 2025 FCF outlook above EUR 100 m and executes first steps of its accelerated deleveraging plan

EQS-Ad-hoc: ams-OSRAM AG / Key word(s): Quarter Results
   ams-OSRAM AG: ams OSRAM delivers 18.8 % adj. EBITDA at revenues of EUR 775
   m in Q2, confirms 2025 FCF outlook above EUR 100 m and executes first
   steps of its accelerated deleveraging plan

   31-Jul-2025 / 07:16 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
   Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   Ad hoc announcement pursuant to Art. 53 Listing Rules of SIX Swiss
   Exchange

   ams OSRAM posts solid Q2 results at the midpoint of the guidance despite
   currency headwinds and executes first steps of its accelerated
   deleveraging plan

   Business update:

     • Q2/25: revenues EUR 775 m, 18.8 % adj. EBITDA margin, at the midpoint
       of guidance
     • Q2/25: realized run-rate savings of approx. EUR 160 m from
       ‘Re-establish the Base’ (RtB) program
     • Q2/25: FCF (incl. net interest paid) at EUR -14 m
     • Q3/25: revenue EUR 790 m – 890 m, 19.5 % +/-1.5 % adj. EBITDA, at
       EUR/USD 1.16 expected
     • Strong design-win momentum in H1/2025 with approx. EUR 2.5 bn in new
       semi business
     • FY25: FCF outlook of above EUR 100 m confirmed

   Deleveraging plan and refinancing:

     • Revolving Credit Facility (RCF) extended by another year
     • Private placement of equivalent EUR 500 m principal amount of EUR and
       USD senior notes due in 2029 to pre-finance approx. EUR 350 m of
       potential OSRAM minority put option bulk exercises and buy back
       approx. EUR 150 m 2027 convertible notes (subject to market
       conditions)
     • Sale of Entertainment & Industrial Lamps business for EUR 114 m
       announced, first asset sale under the deleveraging plan

   Premstaetten, Austria, and Munich, Germany (31 July 2025) -- ams OSRAM
   delivers 18.8 % adj. EBITDA at revenues of EUR 775 m in Q2, confirms 2025
   FCF outlook above EUR 100 m and executes first steps of its accelerated
   deleveraging plan

   “We showed a solid performance in Q2 in a still difficult market with good
   profitability on the back of rapid implementation of ‘Re-establish-the
   Base’ and preproduction for the second half, as well as a very good
   design-win momentum securing future semiconductor business. We continue to
   expect a stronger second half although the weaker US Dollar weighs on
   topline results and tariffs discussions instigate continuously
   uncertainty.” said Aldo Kamper, CEO of ams OSRAM.

   “Our plan to accelerate our balance sheet deleveraging is unfolding. The
   extension of the Revolving Credit Facility, the private placements of
   additional 2029 senior notes to prefinance long-term any bulk exercises of
   OSRAM minority put options and to re-purchase 2027 convertible bonds, but
   especially the first disposal for reducing leverage show that we keep
   track in executing our finance milestones as well.” said Rainer Irle, CFO
   of ams OSRAM.

   Q2/25 business and earnings summary

   EUR millions (except per share   Q2 2025 Q1 2025   QoQ    Q2 2024   YoY
   data) 
   Revenues                             775     820     -5 %     819     -5 %
   EBITDA margin adj. % ^1)          18.8 %  16.4 % +240 bps   16.5% +230 bps
   EBITDA adj. ^1)                      145     135     +7 %     135     +7 %
   Net result adj. ^1)                   18     -23      n/a      -1      n/a
   Diluted EPS (adj., in EUR) ^ 2)     0.18   -0.23      n/a     0.0      n/a

   ^1)^ ^ Adjusted for microLED strategy adaption expenses, M&A-related,
   other transformation and share-based compensation costs, results from
   investments in associates and sale of businesses.

   ^2)  Basic and diluted earnings per share for the comparative period were
   adjusted following the reverse share split on 30 September 2024.   

   Group revenues came in exactly at the midpoint of the guided range of EUR
   725 – 825 million. Reported revenues declined by 5 % quarter-over-quarter
   due to a meaningful automotive-lamps aftermarket inventory correction at
   US retail chains on top of normal seasonality and a significantly weaker
   USD. At a constant EUR/USD exchange rate, revenues would have been approx.
   EUR 35 million higher.

   Year-over-year, group revenues declined by 5% mainly driven by the weaker
   US dollar, the discontinued non-core semiconductor business and the
   inventory correction in automotive LEDs. Like-for-like, at a constant
   EUR/USD exchange rate and only considering the core portfolio, revenues
   would have been up by approx. 2 %.

   Adj. EBITDA (adjusted earnings before interest, taxes, depreciation, and
   amortization) came in slightly higher than the midpoint of the guided
   range of 18.5 % +/-1.5 %. Some one-offs (part of the Q2 guidance), such as
   government and customer funding catch-up, contributed positively.

   Adj. net result came in positive at EUR 18 million. The typical, recurring
   quarterly adjustments of transformation cost, purchase price allocation
   and share based compensations were reduced by a one-time positive effect
   from the settlement of a decades long lawsuit regarding the
   misappropriation of trade secrets by a counterparty.

   IFRS net result came in slightly positive at EUR 1 million.

   Implementation of balance sheet improvement plan

   On 30 April 2025, the company announced its accelerated, comprehensive
   plan to de-leverage its balance sheet including assessing the sale of
   business assets for well above EUR 500 million.

   To date, the company has implemented the first elements of the plan,
   namely

     • 03 July 2025, extension of the EUR 800 m Revolving Credit Facility
       (RCF) by another year until September 2027
     • 23 July 2025, private placement above par of principal amount of EUR
       200 m 10.5 % and USD 350m 12.25 % senior notes due in 2029 to
       prefinance long-term OSRAM minority put option bulk exercises (approx.
       EUR 350m) and buy back 2027 convertible bonds (approx. EUR 150m)
     • 29 July 2025, sale of Entertainment & Industrial Lamps business for
       EUR 114 m (on a cash-and-debt-free basis) as first disposal under the
       deleveraging plan, closing expected in Q1/2026

    

   Upon completion, the plan will reduce the net-debt / adj. EBITDA leverage
   ratio below 2, minimize the amount to be refinanced, reduce the interest
   expenses to below EUR 100 million annually and thereby strengthen the
   operating cash flow further. 

   Q2/25 Cash generation & balance sheet update

   EUR millions                   Q2 2025 Q1 2025  QoQ  Q2 2024  YoY
   FCF (incl. net interest paid)      -14     -28 -50 %    -119 -88 %
   Cash on hand                       511     573 -11 %     900 -43 %
   Net debt                         1,570   1,484  +6 %   1,576  -0 %
   Kulim-2 (SLB), EUR equiv.          420     429  -2 %     401  +5 %
   Net debt (incl. SLB)             1,990   1,913  +4 %   1,977  +1 %
   OSRAM minority put options ^1)     528     570  -7 %     605 -13 %

   ^1) contingent liability part of ‘other financial liabilities’

    

   Free cash flow – defined as operating cash flow including net interest
   paid minus cash flow from CAPEX plus proceeds from divestments – came in
   slightly negative as the company preproduced inventory for the scheduled
   business ramp-up in H2 and also paid out annually recurring items.
   However, the company expects meaningful cash inflows from subsidies by the
   Austrian government under the European Chips Act already notified by the
   European Commission later in the year.

   The net debt position slightly increased to EUR 1,570 million
   quarter-over-quarter after EUR 1,484 million in the previous quarter,
   mainly due to a change in the cash-on-hand position. In view of approx.
   EUR 60 million exercised put options of OSRAM minority shares in H1, the
   company drew EUR 50 m of the RCF (that is in place for larger put option
   exercises) in order to keep an adequate cash balance. By now, the drawn
   RCF portion has already been paid back using some proceeds of the private
   placement of additional senior notes on 23 July 2025.

   The equivalent value of the Sale-and-Lease Back (SLB) Malaysia transaction
   decreased by EUR 9 million due to a net effect of quarterly accrued
   interest and MYR exchange rate swings.

   The Group held approx. 88 % of OSRAM Licht AG shares end of Q2/25. The
   company has an EUR 800 million Revolving Credit Facility (RCF) in place
   that was just extended by another year until September 2027. The RCF is
   primarily in place to cover any further significant exercises under the
   'domination and profit and loss transfer agreement (DPLTA)’ put option and
   the undrawn part would be sufficient to fully cover all outstanding
   minority shareholder’s put options. It can also be drawn for general
   corporate and working capital purposes.

    

   Q2/25 Business Unit (BU) results & industry update

   Semiconductor Business

   EUR millions                     Q2 2025 Q1 2025   QoQ    Q2 2024   YoY
   Opto Semiconductors (OS)                                                  
   Revenue                              344     336     +2 %     372     -8 %
   EBITDA margin adj. %              22.9 %  14.7 % +820 bps   22.7%  +20 bps
   EBITDA adj.                           79      49    +61 %      84     -6 %
   CMOS Sensors & ASICs (CSA)                                                
   Revenue                              239     236     +1 %     224     +7 %
   EBITDA margin adj. %               18.0%   13.8% +420 bps   9.4 % +860 bps
   EBITDA adj.                           43      32    +34 %      21   +105 %
   Semiconductors by industry                                                
   vertical
   Automotive                           229     225     +2 %     251     -9 %
   I&M                                  171     141    +21 %     185     -8 %
   Consumer                             183     206    -11 %     159    +15 %

   ^ 

   Semis were approx. 76 % of Q2/25 group revenue or EUR 582 million,
   compared to EUR 596 million a year ago, mainly driven by inventory
   correction in the automotive LED supply chain and the phase-out of
   non-core businesses in conjunction with ‘Re-establish the Base’
   contributing with a close to mid double-digit million EUR a year ago.
   Growth in the core portfolio, especially with new sensor products, made up
   for the divested or discontinued non-core portfolio. Like-for-like, at a
   constant EUR/USD exchange rate and only considering the core portfolio,
   revenues would have been up by approx. 7 % - in line with the mid-term
   target growth corridor of the semiconductor target operating model. 

   Optical Semiconductors (OS)

   A seasonal upswing in horticulture and slightly increased sales in
   Automotive led the quarter-over-quarter improvement.

   Adj. EBITDA increased to EUR 79 million compared to Q1 on the back of
   gross profit fall through, EUR/USD exchange rate effects and catch-up from
   government and customer fundings.

   CMOS Sensors & ASICs (CSA):

   Revenues remained essentially flat quarter-over-quarter. Demand for
   components for consumer handheld devices was slightly stronger than the
   typical seasonal trend and sales into industrial & medical applications
   improved.

   Adjusted EBITDA improved by EUR 10 million in Q2/25 compared to the
   previous quarter driven by an improved factory loading in anticipation of
   product ramp-ups in H2/25. The adjusted EBITDA Margin came in almost twice
   as high than a year ago thanks again to the structural savings from the
   ‘Re-establish the Base’ program. 

   Semiconductors industry dynamics

   Automotive:

   Business improved quarter-over-quarter against the backdrop of an
   inventory correction in the LED semiconductor supply. During the quarter,
   book-to-bill ratio remained above 1. Year-over-year, auto revenues came in
   9 % lower, showing the inventory adjustments in opto-electronic products
   due to demand uncertainties seen by Tier-1 and OEM customers.

   Industrial & Medical (I&M):

   End-markets started to show some momentum resulting in 21 %
   quarter-over-quarter improvement in the I&M business, led by typical
   seasonal upswings in various verticals, such as horticulture. The
   professional lighting end-market was also resilient helped by
   consolidation trends that allow the company to win market share.
   Industrial automation is still on a low level and the mass market showed a
   regionally differing performance with Europe and Americas improving. In
   medical first signs of a gradually improving ordering pattern are visible.

   Consumer:

   Demand for new products and for consumer portable devices in general
   remained resilient in view of the typical seasonal decline in every second
   calendar quarter of a year.

   Year-over-year, revenues increased by a strong 15 % due to a strong
   contribution of new products, despite a lower double-digit million
   contribution from non-core products a year ago that were phased-out by
   December 2024.

    

   Lamps & Systems Business (traditional auto & industrial lamps)

   EUR millions (except per share   Q2 2025 Q1 2025   QoQ    Q2 2024   YoY
   data) 
   Revenue                              192     249    -23 %     223    -14 %
   EBITDA margin adj. %               15.2%  24.5 % -930 bps  17.6 % -240 bps
   EBITDA adj.                           29      61    -52 %      39    -26 %

    

   Lamps & Systems represented approx. 24 % of Q2/25 revenues. The
   significant quarter-over-quarter and year-over-year step down was
   primarily driven by an inventory adjustment at US aftermarket retail
   chains. Some weakness in the European market and the weaker US dollar
   against the Euro also contributed.

   Revenues in Specialty Lamps slightly declined quarter-over-quarter in line
   with normal seasonal trends.

   Adj. EBITDA dropped in line with factory utilization and product mix with
   the backdrop of an elevated figure in the first quarter as a result of
   one-time effects.

   Guidance for the third quarter 2025

   EUR millions                  Q3 2025    
                           low     mid    high
   Revenue                 790     840    890
   quarter-over-quarter    +2 %   +8 %   +15 %
   EBITDA margin adj. %   18.0 % 19.5 %  21.0 %
                                          

    

   The company expects for its semiconductor business:

   Automotive: improved demand on the back of market normalization (likely
   end of the LED inventory correction) and new business ramp-ups.

   Industrial and medical: modest development as green shoots seen at
   end-customer’s business needs to translate into normalized inventory
   levels.

   Consumer: typical strong upswing in the seasonally strongest quarter.

   Combined, the semiconductor business is expected to follow its typical
   pattern with a strong third quarter slightly weaker than a year ago due to
   the weaker USD.

   The company expects for its traditional auto lamps business that the sales
   into the  aftermarket channel will improve with the annual ‘lighting
   season’ beginning end of the summer.

   As a result, the Group expects third quarter revenues to land in a range
   of EUR 790 – 890 million assuming a EUR/USD exchange rate of 1.16. The
   impact of the weaker USD on revenues compared to the start of the year is
   of the order of mid-double digit million Euro. Quarter-over-quarter the
   impact is approx. EUR 15 million.

   The company expects adj. EBITDA to come in at 19.5 % +/-1.5 % on the back
   of seamless execution ahead of plan of its Re-establish the Base strategic
   efficiency program.

   FY 2025 commentary

   The company expects a stronger second half mainly due to product ramp-ups
   and seasonality. Uncertainties persist in view of potential impacts to
   global car production, smartphone sales, or other impact to GDP, following
   the recent introduction or announcement of elevated tariffs in the US and
   in particular changes in the EUR/USD exchange rate.

   The company expects improving profitability driven by its ‘Re-establish
   the Base’ program even in case of lower predictability of its topline.
   CAPEX is expected to land below 8 % of sales  (including capitalized R&D
   and expected investment grants, e.g. from the European Chips Act).

   The company expects positive free cash flow (incl. net interest paid)
   exceeding EUR 100 million.

    

    

   Additional Information

   Additional financial information for the second quarter 2025 is available
   on the company [1]website. The second quarter 2025 investor presentation
   incl. detailed information is also available on the company [2]website.

   ams OSRAM will host a press call as well as a conference call for analysts
   and investors on the second quarter 2025 results on Thursday, 31 July
   2025. The conference call for analysts and investors will start at 9.45 am
   CET and can be joined via webcast. The conference call for journalists
   will take place at 11.00 am CET.

    

   About ams OSRAM

   The ams OSRAM Group (SIX: AMS) is a global leader in innovative light and
   sensor solutions.

   With more than 110 years of industry experience, we combine engineering
   excellence and global manufacturing with a passion for cutting-edge
   innovation. Our commitment to pushing the boundaries of illumination,
   visualization, and sensing enable transformative advancements in the
   automotive, industrial, medical, and consumer industries.

   “Sense the power of light” – our success is based on the deep
   understanding of the potential of light and our distinct portfolio of both
   emitter and sensor technologies. About 19,700 employees worldwide focus on
   pioneering innovations alongside the societal megatrends of
   digitalization, smart living and sustainability. This is reflected in over
   13,000 patents granted and applied. Headquartered in Premstaetten/Graz
   (Austria) with co-headquarters in Munich (Germany), the group achieved EUR
   3.4 billion revenues in 2024 and is listed as ams-OSRAM AG on the SIX
   Swiss Exchange (ISIN: AT0000A3EPA4). 

    

   Find out more about us on [3]https://ams-osram.com  

    

   Ams is a registered trademark of ams-OSRAM AG. In addition, many of our
   products and services are registered or filed trademarks of ams OSRAM
   Group. All other company or product names mentioned herein may be
   trademarks or registered trademarks of their respective owners.  

    

   Join ams OSRAM social media channels: [4]>Twitter  [5]>LinkedIn 
   [6]>Facebook  [7]>YouTube 

    

    

    

    

   For further information                 
   Investor Relations        Media Relations
   ams-OSRAM AG              ams-OSRAM AG
   Dr Juergen Rebel          Bernd Hops
   Senior Vice President     Senior Vice President
   Investor Relations        Corporate Communications
   T: +43 3136 500-0         T: +43 3136 500-0
   [8]investor@ams-osram.com [9]press@ams-osram.com
                                           

    

    

   Consolidated Statement of Income in accord. with IFRS (unaudited)

    

   in EUR million                           Q2 2025 1st Half Q2 2024 1st Half
   (except earnings per share)                          2025             2024
   Revenues                                     775    1,595     819    1,665
   Cost of sales                               -578   -1,190    -594   -1,223
   Gross profit                                 197      405     225      443
   Research and development expenses            -87     -191    -113     -238
   Selling, general and administrative         -100     -210    -100     -201
   expenses
   microLED adaption result^1)                    5        7       7     -625
   Other operating income                        41       47       9       22
   Other operating expenses                      -1       -4     -10      -13
   Results from investments accounted for        -3       -3      -4       -4
   using the equity method, net
   Result from operations                        51       50      15     -616
   Financial income                              78      124      11       48
   Financial expenses                          -118     -230     -66     -160
   Net financial result                         -40     -105     -55     -112
   Result before income taxes                    11      -55     -39     -728
   Income taxes                                 -10      -26      -2      -23
   Net result                                     1      -81     -41     -751
                                                                             
   Attributable to:                                                          
   Non-controlling interests                      0        1       0        1
   Shareholders of ams-OSRAM AG                   0      -82     -42     -752
                                                                             
   Basic earnings per share (in EUR)^2)        0.01    -0.82   -0.42    -7.60
   Diluted earnings per share (in EUR)^2)      0.01    -0.82   -0.42    -7.60

    

   1) microLED adaption result reflects net charges (impairments and
   reversals of impairments on assets as well as additions to and reversals
   of provisions) due to the cancellation of the microLED project on February
   28, 2024.

   2) Earnings per share for the comparative periods have been adjusted to
   reflect the reverse stock split on September 30, 2024.

    

    

    

   Consolidated Balance Sheet in accordance with IFRS (unaudited)

    

   in EUR million                             June 30, 2025 December 31, 2024
   Assets                                                                    
   Cash and cash equivalents                            511             1,098
   Trade receivables                                    307               496
   Other current financial assets                        91                49
   Inventories                                          834               809
   Other current non-financial assets                   297               267
   Assets held for sale                                  23                23
   Total current assets                               2,063             2,743
                                                                             
   Property, plant, and equipment                     1,616             1,729
   Intangible assets                                  2,022             2,054
   Right-of-use assets                                  135               189
   Investment in associates                               1                 4
   Other non-current financial assets                    82                58
   Deferred tax assets                                   65                74
   Other non-current non-financial assets                56                52
   Total non-current assets                           3,977             4,160
   Total assets                                       6,040             6,903
                                                                             
   Liabilities and equity                                                    
   Liabilities                                                               
   Current interest-bearing loans and                    50               495
   borrowings
   Trade payables                                       450               472
   Other current financial liabilities                  891             1,001
   Current provisions                                   207               227
   Income tax payables                                   52                45
   Other current non-financial liabilities              326               274
   Total current liabilities and provisions           1,975             2,514
                                                                             
   Non-current interest-bearing loans and             2,031             2,016
   borrowings
   Other non-current financial liabilities              549               587
   Employee benefits                                    151               150
   Non-current provisions                                50                58
   Deferred tax liabilities                              36                46
   Other non-current non-financial                      248               296
   liabilities
   Total non-current liabilities and                  3,065             3,153
   provisions
                                                                             
   Equity                                                                    
   Issued capital                                       998               998
   Additional paid-in capital                         2,021             2,090
   Treasury shares                                      -26               -87
   Other components of equity                            79               292
   Retained earnings                                 -2,079            -2,064
   Total equity attributable to shareholders            994             1,229
   of ams-OSRAM AG
   Non-controlling interests                              6                 6
   Total equity                                       1,000             1,235
   Total liabilities, provisions and equity           6,040             6,903

   Consolidated Statement of Cash Flows in accordance with IFRS (unaudited)

    

   in EUR million                           Q2 2025 1st Half Q2 2024 1st Half
                                                        2025             2024
   Operating activities                                                      
   Net income                                     1      -81     -41     -751
   Reconciliation between net result and                                     
   cash flows from operating activities
   Amortization, depreciation, and               96      190      91      706
   impairment^1)
   Expenses from stock option plans (acc.         5       11       1        6
   to IFRS 2)
   Income taxes                                  10       26       2       23
   Net financial result                          40      105      55      112
   Result from sales of businesses,
   intangible assets and property, plant,         0       -1       8        6
   and equipment
   Result from investments in associates          3        3       4        4
   Other adjustments for non-cash items           -        -       0        -
   Changes in current assets and current                                     
   liabilities
   Inventories, net                             -31      -67     -60      -93
   Trade receivables                             34      163     155      123
   Other current assets                        -106     -202     -29      -35
   Trade payables                                15       -8      24       38
   Current provisions                           -44      -17     -61       33
   Other current liabilities                     53       52     -13       28
   Changes in other assets and liabilities      -12      -11       8        8
   Income taxes paid                            -17      -24     -25      -35
   Dividends received                             0        0       0        0
   Interest received                              3       10       9       20
   Interest paid                                -27     -116     -73      -83
   Cash flows from operating activities          25       34      55      110

    

   in EUR million                           Q2 2025 1st Half Q2 2024 1st Half
                                                        2025             2024
   Investing activities                                                      
   Additions to intangible assets and           -40      -92    -176     -296
   property, plant, and equipment
   Inflows from sales of financial
   investments, intangibles and property,         1       15       2        7
   plant, and equipment
   Cash flows from investing activities         -39      -77    -174     -288
                                                                             
   Financing activities                                                      
   Transaction costs from loans and               -        -       -      -14
   borrowings
   Inflows from loans and other financial        70       70     100      101
   liabilities
   Repayment of bonds                             -     -447                 
   Repayment of loans                            -6       -6    -109     -110
   Repayment of lease liabilities               -14      -28     -15      -29
   Inflows from sale and lease back               -        -       -       10
   financing
   Acquisition of non-controlling interests     -42      -57      -5       -5
   in OSRAM Licht AG
   Dividends paid to shareholders of OSRAM      -27      -27     -30      -30
   Licht AG
   Cash flows from financing activities         -19     -495     -59      -77
                                                                             
   Change in cash and cash equivalents          -62     -587    -175     -245
   Effects of changes in foreign exchange       -28      -50       3       11
   rates on cash and cash equivalents
   Cash and cash equivalents at the             573    1,098   1,076    1,146
   beginning of the period
   Cash and cash equivalents at the end of      511      511     901      901
   the period
   Less: Cash and cash equivalent of assets       -        -       1        1
   held for sale at the end of the period
   Cash and cash equivalents at the end of      511      511     900      900
   the period

    

   1)^  Q2 2025 / 1st Half 2025 EUR 68 m / EUR 134 m for property, plant, and
   equipment; EUR 28 m / EUR 56 m for intangible assets;  Q2 2024 / 1st Half
   2024 EUR 64 m / EUR 521 m for property, plant, and equipment; EUR 27 m /
   EUR 185 m for intangible assets

    

    

   Reconciliation from adjusted figures to reported figures in accordance
   with IFRS

    

   in EUR million                           Q2 2025 1st Half Q2 2024 1st Half
                                                        2025             2024
   Gross profit – adjusted                      224      457     243      483
   Acquisition-related expense^1)               -10      -21     -10      -23
   Share-based compensation                      -1       -2       0       -1
   Transformation costs                         -16      -30      -8      -17
   Gross profit – IFRS reported                 197      405     225      443
   Gross margin in % – adjusted                 29%      29%     30%      29%
   Gross margin in % – IFRS reported            25%      25%     27%      27%
   Operating expenses – adjusted               -156     -331    -187     -384
   microLED adaption result^2)                    5        7       7     -625
   Acquisition-related expense^1)                22       14     -11      -23
   Share-based compensation                      -5      -10      -1       -5
   Transformation costs                          -9      -32      -8       -8
   Result from the sale of businesses             -        0      -5       -8
   Result from at-equity investments             -3       -3      -4       -4
   Operating expenses – IFRS reported          -146     -355    -210   -1,058
   Result from operations (EBIT) – adjusted      68      126      56       99
   microLED adaption result^2)                    5        7       7     -625
   Acquisition-related expenses^2)               12       -7     -21      -46
   Share-based compensation                      -5      -11      -1       -6
   Transformation costs                         -25      -62     -17      -24
   Result from the sale of businesses             -        0      -5       -8
   Result from at-equity investments             -3       -3      -4       -4
   Result from operations (EBIT) – IFRS          51       50      15     -616
   reported
   EBIT margin in % – adjusted                   9%       8%      7%       6%
   EBIT margin in % – IFRS reported              7%       3%      2%     -37%
                                                                             
   Result from operations (EBIT) – adjusted      68      126      56       99
   Amortization, depreciation, and
   impairment (excluding                         77      154      80      160
   acquisition-related expense)^1)
   EBITDA – adjusted                            145      280     135      259

    

    

   in EUR million                           Q2 2025 1st Half Q2 2024 1st Half
                                                        2025             2024
   EBITDA – adjusted                            145      280     135      259
   microLED adaption result^2)                    0       -3       7     -122
   Acquisition-related expenses^2)               30       29      -2       -5
   Share-based compensation                      -5      -11      -1       -6
   Transformation costs                         -19      -52     -22      -24
   Result from the sale of businesses             -        0      -9       -8
   Result from at-equity investments             -3       -3      -4       -4
   EBITDA – IFRS reported                       147      240     106       90
   EBITDA margin in % – adjusted                19%      18%     17%      16%
   EBITDA margin in % – IFRS reported           19%      15%     13%       5%
                                                                             
   Result from operations (EBIT) – adjusted      68      126      56       99
   Net financing result                         -40     -105     -55     -112
   Income tax result                            -10      -26      -2      -23
   Net result - adjusted                         18       -5      -1      -36
   Basic adjusted earnings per share (in       0.18    -0.05   -0.01    -0.36
   EUR)^3)

    

   1) Acquisition-related expenses include amortization, depreciation and
   impairment of purchase price allocated assets, integration, carve-out and
   acquisition related costs. The amount for Q2 2025 and 1st Half 2025
   contains the gain from the court ruling on trade secret and patent
   infringement suit.

   2) microLED adaption result reflects net charges (impairments and
   reversals of impairments on assets as well as additions to and reversals
   of provisions) due to the cancellation of the microLED project on February
   28, 2024

   3) Earnings per share for the comparative periods have been adjusted to
   reflect the reverse stock split on September 30, 2024.

    

    

    

   End of Inside Information

   ══════════════════════════════════════════════════════════════════════════

   31-Jul-2025 CET/CEST News transmitted by EQS Group. www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     ams-OSRAM AG
                Tobelbader Straße 30
                8141 Premstaetten
                Austria
   Phone:       +43 3136 500-0
   E-mail:      investor@ams-osram.com
   Internet:    https://ams-osram.com/
   ISIN:        AT0000A3EPA4
   WKN:         A118Z8
   Listed:      Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
                Munich, Stuttgart, Tradegate Exchange; BX, SIX, Vienna Stock
                Exchange (Vienna MTF)
   EQS News ID: 2177208


    
   End of Announcement EQS News Service


   2177208  31-Jul-2025 CET/CEST

   https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2177208&application_name=news&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf

References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=1e659132d413fd32968bb37e6aca1d7a&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ec81f3bee84ae95adf2bae3e0941d994&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8292dd00d17478c63e156302a1a5ac6c&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=abc52aadd1b09e752093ca366793ed46&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   5. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=2e38dcb34f79060ddc9490cdb693d91b&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   6. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=fee19590191b3da17836d1a1e69e8177&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   7. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=928a9cd78ac8af8e0181c5f67885e5fb&application_id=2177208&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   8. mailto:investor@ams-osram.com
   9. mailto:press@ams-osram.com

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

Bei Facebook teilen.
Bei X teilen.
Bei LinkedIn teilen.
Bei Xing teilen.
Bei Bluesky teilen

Stichworte

Channel