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EQS-Adhoc: ams-OSRAM AG: ams OSRAM’s strategic focus pays off with strong FCF of EUR 43 m in Q3 and 9 % comparable growth in its core semiconductor business

EQS-Ad-hoc: ams-OSRAM AG / Key word(s): Quarter Results
   ams-OSRAM AG: ams OSRAM’s strategic focus pays off with strong FCF of EUR
   43 m in Q3 and 9 % comparable growth in its core semiconductor business

   18-Nov-2025 / 07:00 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by [1]EQS News - a service of
   [2]EQS Group.
   The issuer is solely responsible for the content of this announcement.

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

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

   ams OSRAM’s strategic focus pays off with strong FCF of EUR 43 m in Q3 and
   9 % comparable growth in its core semiconductor business

   Business update:

     • Q3/25: revenues EUR 853 m / 19.5 % adj. EBITDA margin (including a
       positive one-off), above / at the midpoint of guidance
     • Q3/25: realized run-rate savings of approx. EUR 185 m from
       ‘Re-establish the Base’ (RtB) program
     • Q3/25: FCF (incl. net interest paid) at EUR 43 m
     • Q4/25: revenue EUR 790 m – 890 m, 17.5 % +/-1.5 % adj. EBITDA, at
       EUR/USD 1.16 expected
     • FY25: FCF outlook of above EUR 100 m confirmed (assuming timely Chips
       Act inflows)
     • Design-win momentum on track to reach EUR 5 bn in 2025

   Deleveraging plan and refinancing:

     • Process for asset disposals for generating proceeds well above EUR 500
       m in 2026 on track

   Continuous investment in differentiating technology platforms:

     • Broad patent cross-license agreement signed with Nichia for
       unparalleled IP safety of customers
     • Advancements in its industry leading infrared LED & infrared laser
       technology
     • Launched industry benchmark 2-dimensional direct Time-of-Flight sensor
       platform

    

   Premstaetten, Austria, and Munich, Germany (18 November 2025) -- ams
   OSRAM’s strategic focus pays off with strong FCF of EUR 43 m in Q3 and 9 %
   comparable growth in its core semiconductor business

   “Our core semiconductor business grew again like-for-like in line with our
   target operating model. As promised, we are delivering a stronger second
   half in terms of top-line, bottom-line and cash flow, despite the weaker
   US Dollar and higher raw material prices. At the same time, we are
   continuously winning new business and are preparing for future growth by
   launching new technology platforms.” said Aldo Kamper, CEO of ams OSRAM.

   Q3/25 business and earnings summary

   EUR millions (except per share     Q3 2025 Q2 2025   QoQ   Q3 2024   YoY
   data) 
   Revenues                               853     775   +10 %     881    -3 %
   EBITDA margin adj. % ^1)            19.5 %  18.8 % +70 bps  18.8 % +70 bps
   EBITDA adj. ^1)                        166     145   +14 %     166     0 %
   Net result adj. ^1)                     27      18   +50 %      37   -27 %
   Diluted EPS (adj., in EUR) ^ 2)       0.27    0.18   +50 %    0.37   -27 %

   ^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 above the midpoint of the guided range of EUR 790 –
   890 million. Reported revenues increased by 10 % quarter-over-quarter due
   to the typical seasonal automotive-lamps aftermarket upswing and a strong
   quarter-over-quarter increase in semiconductor revenues. At a constant
   EUR/USD exchange rate, revenues would have been approx. EUR 20 million
   higher.

   Year-over-year, group revenues declined by 3% mainly driven by the weaker
   US dollar and the discontinued non-core semiconductor business.
   Like-for-like, at a constant EUR/USD exchange rate and only considering
   the core portfolio (incl. L&S), revenues would have been up by approx. 6 %
   and looking at the semiconductor core portfolio, up by approx. 9 %.

   Adj. EBITDA (adjusted earnings before interest, taxes, depreciation, and
   amortization) came in at the midpoint of the guided range of 19.5 % +/-1.5
   %. A profit from the sale of manufacturing assets in the group’s Singapore
   production site contributed positively.

   Adj. net result came in positive at EUR 27 million on the back of improved
   profitability, including the typical, recurring quarterly adjustments of
   transformation cost, purchase price allocation and share-based
   compensation.

   Continuous investments in differentiating technology platforms

   The company invests both in improving its cost-position by developing
   cost-performance optimized technology platforms as well as cutting-edge
   technologies for enabling new markets and new applications. Examples are
   latest advances in its AlGaAs emitter technology platform for
   near-infrared applications – the company claims industry leading wall-plug
   efficiency and output power with a multitude of industrial applications,
   including automotive, material treatment and defense.

   A decisive element in differentiating technology is IP safety for its
   customers. For this, the company expanded its long-standing collaboration
   with Nichia in the field of intellectual property (IP) on 16 October 2025
   by signing a comprehensive cross-license agreement covering thousands of
   patent-protected innovations in LED and laser technologies. With the new
   patent cross-license agreement, both companies offer customers enhanced IP
   safety when using products based on their patented technologies.  

   When it comes to optical sensing technologies, the company recently
   launched an industry leading 2d direct time-of-flight sensing platform
   that allows for Edge AI sensing, e.g. in smartphones for maintaining focus
   on moving objects in dynamic video scenes or in logistics robots for
   distinguishing between nearly identical packages amongst many other
   potential applications. 

   Implementation of balance sheet improvement plan

   On 30 April 2025, the company announced its accelerated, comprehensive
   plan to de-leverage its balance sheet. On top of operational improvements
   driven through its ‘Re-establish the Base’ (RtB) program, this plan also
   includes assessing the sale of business assets for well above EUR 500
   million.

   The company is well on track with implementing the RtB program and its
   efforts on the sale of certain business assets.

   Upon completion of the full plan (including a solution for the Kulim-2
   Sale-and-Lease back), 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. 

   Q3/25 Cash generation & balance sheet update

   Free cash flow – defined as operating cash flow including net interest
   paid minus cash flow from CAPEX plus proceeds from divestments – came in
   positive with EUR 43 million. A year ago, the free cash flow was dominated
   by a significant customer prepayment of approx. EUR 225 million.
   Consequently, year-over-year, the underlying free cash flow from normal
   operations improved significantly. 

   EUR millions                        Q3 2025 Q2 2025  QoQ  Q3 2024   YoY
   FCF (incl. net interest paid)            43     -14  n.a. 188 ^1)   -77 %
   Cash on hand                            979     511 +92 %   1,097   -11 %
   Net debt                              1,581   1,570  +1 %   1,399   +13 %
   Kulim-2 (Sale-and-Lease-Back (SLB))     422     420  +0 %     441    -4 %
   Net debt (incl. SLB ^3))              2,003   1,990  +1 %   1,840    +9 %
   OSRAM minority put options ^2)          517     528  -2 %     604   -14 %

    1. ^In Q3 2024, FCF contained a non-operational one-time cash pre-payment
       from a customer of the order of EUR 225 million.
    2. ^Contingent liability part of ‘other financial liabilities’.

    

   On top, the company continues to expect meaningful cash inflows later in
   the year from subsidies by the Austrian government under the European
   Chips Act already notified by the European Commission.

   The net debt position slightly increased to EUR 1,581 million
   quarter-over-quarter after EUR 1,570 million in the previous quarter,
   mainly due to the quarterly accrued compound interests of the convertible
   bond. The equivalent value of the Sale-and-Lease Back (SLB) Malaysia
   transaction increased by EUR 2 million due to a net effect of quarterly
   accrued interest and MYR exchange rate changes.

   The Group held approx. 88 % of OSRAM Licht AG shares at the end of Q3/25.
   The company has an EUR 800 million Revolving Credit Facility (RCF) in
   place. 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.

    

   Q3/25 Business Unit (BU) results & industry update

   Semiconductor Business

   EUR millions               Q3 2025 Q2 2025   QoQ    Q3 2024   YoY
   Opto Semiconductors (OS)                                            
   Revenue                        365     344     +6 %     381     -4 %
   EBITDA margin adj. %        22.6 %  22.9 %  -30 bps  23.1 %  -50 bps
   EBITDA adj.                     82      79     +4 %      88     -7 %
   CMOS Sensors & ASICs (CSA)                                          
   Revenue                        271     239    +13 %     266     +2 %
   EBITDA margin adj. %        23.6 %  18.0 % +560 bps  17.9 % +570 bps
   EBITDA adj.                     64      43    +49 %      48    +33 %
   Semiconductors by industry                                          
   Automotive                     239     229     +4 %     234     +2 %
   I&M                            174     171     +2 %     184     -5 %
   Consumer                       224     183    +22 %     230     -3 %

    

   Semiconductor revenues were approx. 75 % of Q3/25 group revenue or EUR 637
   million, compared to EUR 647 million a year ago, equally driven by the
   change in the EUR/USD exchange rate and the phase-out of non-core
   businesses under the ‘Re-establish the Base’ program, which still
   contributed with a couple of 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. The comparable growth in
   semiconductors was approx. 9%, when correcting for the phased-out non-core
   portfolio (approx. EUR 30 million) and EUR/USD exchange rate (approx. EUR
   30 million) - 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 82 million compared to EUR 79 million in Q2
   on the back of gross profit fall through partially off-set by positive
   one-offs in Q2, such as catch-up of subsidies.

   CMOS Sensors & ASICs (CSA):

   Revenues steeply increased quarter-over-quarter. Demand for components for
   consumer handheld devices showed its typical seasonal peak and sales into
   industrial & medical applications stabilized further.

   Adj. EBITDA improved by EUR 21 million in Q3/25 compared to the previous
   quarter driven primarily by the sale of a manufacturing asset in the
   company’s Singapore production facilities in the context of the
   ‘Re-establish the Base’ program (see ‘Other Operating Income’) and gross
   profit fall-through. 

   Semiconductors industry dynamics

   Automotive:

   Business improved quarter-over-quarter on the back of an ended inventory
   correction in the LED supply chain, but without any meaningful re-stocking
   in sight. During the quarter, book-to-bill ratio hovered around 1.
   Year-over-year, auto revenues came in 2 % higher, showing the re-balancing
   of the inventory levels in the opto-electronic supply chain. Automotive
   customers continue to order with a very short-term horizon.

   Industrial & Medical (I&M):

   End-markets stabilized but are still partially muted. Professional
   lighting business continued to perform well in a competitive market and
   the horticulture business showed its seasonal peak. Industrial automation
   improved slightly but remains at a low level. In the mass market, Europe
   and the Americas showed a relatively better performance than China. In
   medical, the market stabilized further.

   Consumer:

   Demand for new products and for consumer portable devices in general
   showed its seasonal peak. Recently introduced products proliferated to
   further platforms.

   Year-over-year, revenues decreased slightly by 3 %, entirely due to the
   weaker US dollar. On a comparable basis, the new products more than
   compensated for the phase-out and revenue decline of discontinued products
   from the non-core portfolio.

    

   Lamps & Systems Business (traditional auto & industrial lamps)

   Lamps & Systems represented approx. 25 % of Q3/25 group revenues. The
   typical seasonal upswing drove the strong quarter-over-quarter increase,
   whilst the year-over-year decline can be attributed to the decline in
   automotive OEM lamps business, as less and less cars are equipped with
   traditional halogen lamps when they leave the factory. 

   EUR millions         Q3 2025 Q2 2025   QoQ    Q3 2024   YoY
   Revenue                  216     192    +13 %     233     -7 %
   EBITDA margin adj. %   13.2%  15.2 % -200 bps  16.0 % -280 bps
   EBITDA adj.               28      29     -3 %      37    -24 %

    

   Revenues in Specialty Lamps remained at a typical level and were almost
   unchanged compared to the previous quarter.

   Adj. EBITDA remained essentially unchanged as inventory reductions and
   typical, seasonally higher marketing expenses in the aftermarket business
   balanced the fall-through from higher revenues.

   Guidance for the fourth quarter 2025

   EUR millions                  Q4 2025    
                           low     mid    high
   Revenue                 790     840    890
   quarter-over-quarter    -6 %   -2 %    +4 %
   EBITDA margin adj. %   16.0 % 17.5 %  19.0 %
                                          

    

   The company expects for its semiconductor business:

   Automotive: more or less flat demand in line with the overall market
   uncertainty seen by OEMs and Tier-1s. Short-term order entry pattern
   persisting.

   Industrial and medical: development in line with a slow market recovery.

   Consumer: typical, seasonal revenue reduction after the seasonal peak in
   Q3.

   Combined, the semiconductor business is expected to follow its typical
   seasonal pattern with a softer fourth quarter. Year-over-year, a slight
   decline may be seen, if the exited non-core portfolio and a close to
   mid-double-digit million impact from the weaker US dollar cannot be fully
   compensated by supply chain normalization in I&M and the revenues from the
   recently introduced consumer products.

   The company expects the seasonal peak in Q4 with strong automotive
   aftermarket sales for its traditional auto lamps business.

   As a result, the Group expects fourth 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 a year ago is of the
   order of mid-double digit million Euro.

   The company expects adj. EBITDA to come in at 17.5 % +/-1.5 % in line with
   revenue development and the absence of the one-time profit from the sale
   of manufacturing assets in its Singapore production facilities in Q3.

    

   Additional Information

   Additional financial information as well as a comprehensive investor
   presentation for the third quarter 2025 is available on the company
   [3]website.

   ams OSRAM will host a press call as well as a conference call for analysts
   and investors on the third quarter 2025 results on Tuesday, 18 November
   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 [4]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: [5]>Twitter  [6]>LinkedIn 
   [7]>Facebook  [8]>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
   [9]investor@ams-osram.com [10]press@ams-osram.com
                                           

    

    

    

    

   Consolidated Statement of Income in accordance with IFRS (unaudited)

   in EUR million                     9 months until          9 months until 
   (except earnings per       Q3 2025   September 30, Q3 2024   September 30,
   share)                                        2025                    2024
   Revenues                       853           2,448     881           2,547
   Cost of sales                 -628          -1,818    -646          -1,868
   Gross profit                   226             631     236             678
   Research and development       -97            -289     -95            -333
   expenses
   Selling, general and          -102            -313    -105            -305
   administrative expenses
   microLED adaption                2               9      20            -605
   result^1)
   Other operating income          21              68      16              37
   Other operating expenses       -12             -16      -2             -15
   Results from investments
   accounted for using the          0              -3       0              -4
   equity method, net
   Result from operations          37              87      69            -547
   Financial income                22             133      58              58
   Financial expenses             -81            -297     -92            -205
   Net financial result           -59            -164     -35            -147
   Result before income taxes     -22             -78      34            -694
   Income taxes                    -5             -31     -10             -34
   Net result                     -28            -109      24            -727
                                                                             
   Attributable to:                                                          
   Non-controlling interests        0               1       0               1
   Shareholders of ams-OSRAM      -28            -110      24            -728
   AG
                                                                             
   Basic earnings per share     -0.28           -1.10    0.24           -7.36
   (in EUR)
   Diluted earnings per share   -0.28           -1.10    0.24           -7.36
   (in EUR)

    

   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.

    

    

    

    

   Consolidated Balance Sheet in accordance with IFRS (unaudited)

   in EUR million                        September 30, 2025 December 31, 2024
   Assets                                                                    
   Cash and cash equivalents                            979             1,098
   Trade receivables                                    391               496
   Other current financial assets                        76                49
   Inventories                                          775               809
   Other current non-financial assets                   255               267
   Assets held for sale                                 134                23
   Total current assets                               2,611             2,743
                                                                             
   Property, plant, and equipment                     1,548             1,729
   Intangible assets                                  1,965             2,054
   Right-of-use assets                                  120               189
   Investment in associates                               1                 4
   Other non-current financial assets                   104                58
   Deferred tax assets                                   55                74
   Other non-current non-financial                                         52
   assets                                                61
   Total non-current assets                           3,854             4,160
   Total assets                                       6,465             6,903
                                                                             
   Liabilities and equity                                                    
   Liabilities                                                               
   Current interest-bearing loans and                                     495
   borrowings                                           158
   Trade payables                                       446               472
   Other current financial liabilities                  895             1,001
   Current provisions                                   202               227
   Income tax payables                                   51                45
   Other current non-financial                                            274
   liabilities                                          348
   Liabilities associated with assets
   held for sale                                         30                 -
   Total current liabilities and                                        2,514
   provisions                                         2,130
                                                                             
   Non-current interest-bearing loans                                   2,016
   and borrowings                                     2,403
   Other non-current financial                                            587
   liabilities                                          523
   Employee benefits                                    143               150
   Non-current provisions                                48                58
   Deferred tax liabilities                              31                46
   Other non-current non-financial                                        296
   liabilities                                          226
   Total non-current liabilities and                                    3,153
   provisions                                         3,374
                                                                             
   Equity                                                                    
   Issued capital                                       998               998
   Additional paid-in capital                         2,022             2,090
   Treasury shares                                      -26               -87
   Other components of equity                            79               292
   Retained earnings                                 -2,119            -2,064
   Total equity attributable to                                         1,229
   shareholders of ams-OSRAM AG                         955
   Non-controlling interests                              6                 6
   Total equity                                         961             1,235
   Total liabilities, provisions and                  6,465             6,903
   equity

    

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

                                      9 months until          9 months until 
   in EUR million             Q3 2025   September 30, Q3 2024   September 30,
                                                 2025                    2024
   Operating activities                                                      
   Net income                     -28            -109      24            -727
   Reconciliation between net
   result and cash flows from                                                
   operating activities
   Amortization,
   depreciation, and              119             309     107             812
   impairment
   Expenses from stock option       5              17       6              12
   plans (acc. to IFRS 2)
   Income taxes                     5              31      10              34
   Net financial result            59             164      35             147
   Result from sales of
   businesses, intangible         -15             -16     -12              -6
   assets and property,
   plant, and equipment
   Result from investments in      0                3       0               4
   associates
   Other adjustments for            -               -       -               -
   non-cash items
   Changes in current assets                                                 
   and current liabilities
   Inventories, net                17             -50     -26            -119
   Trade receivables              -85              79     -45              78
   Other current assets           189             -13      12             -23
   Trade payables                  0               -8     -25              12
   Current provisions              0              -17      -4              29
   Other current liabilities      -59              -7      11              39
   Changes in other assets        -30             -41       8              16
   and liabilities
   Non-current prepayment           -               -     224             224
   received from a customer
   Income taxes paid               -7             -31     -14             -49
   Dividends received             -                0        -               0
   Interest received                7              17       7              26
   Interest paid                  -91            -207     -71            -154
   Cash flows from operating       88             122     246             356
   activities

    

    

                                      9 months until          9 months until 
   in EUR million             Q3 2025   September 30, Q3 2024   September 30,
                                                 2025                    2024
   Investing activities                                                      
   Additions to intangible
   assets and property,           -48            -140    -102            -398
   plant, and equipment
   Inflows from sales of
   financial investments,           2              17       2               9
   intangibles and property,
   plant, and equipment
   Inflows from sale of
   businesses, net of cash          -               -                        
   and cash                                                43              43
   equivalents disposed
   Cash flows from investing      -46            -123     -58            -346
   activities
                                                                             
   Financing activities                                                      
   Inflows from bonds             526             526     201             201
   Transaction costs for the
   capital increase and the        -8              -8       0             -15
   issue of
   bonds
   Sale of treasury shares          -               -       1               1
   Inflows from loans and
   other financial                  0              70       0             102
   liabilities
   Repayment of bonds               -            -447       -               -
   Repayment of loans             -57             -63    -152            -262
   Repayment of lease             -13             -40     -12             -41
   liabilities 
   Inflows from sale and            -               -       -              10
   lease back financing
   Acquisition of
   non-controlling interests      -11             -69      -1              -7
   in OSRAM Licht AG
   Dividends paid to
   shareholders of OSRAM            -             -27       -             -30
   Licht AG
   Dividends paid to
   non-controlling                 -1              -1      -1              -1
   shareholders
   Cash flows from financing      435             -60      35             -42
   activities
                                                                             
   Change in cash and cash        468            -119     197             -48
   equivalents
   Effects of changes in
   foreign exchange rates on       -9             -59     -26             -16
   cash and cash equivalents
   Cash and cash equivalents
   at the beginning of the        511           1,098     901           1,146
   period
   Cash and cash equivalents      979             979   1,097           1,097
   at the end of the period
   Less: Cash and cash
   equivalent of assets held        -               -                        
   for sale at the end of the                               -               -
   period
   Cash and cash equivalents      979             979   1,097           1,097
   at the end of the period

    

   Reconciliation from adjusted figures to reported figures in accordance
   with IFRS

    

                                           9 months until            9 months
   in EUR million                  Q3 2025   September 30,   Q3        until 
                                                      2025 2024 September 30,
                                                                         2024
   Gross profit – adjusted             253             710  262           745
   Acquisition-related expense^1)      -10             -31  -10           -34
   Share-based compensation             -1              -3   -1            -2
   Transformation costs                -16             -46  -15           -31
   Gross profit – IFRS reported        226             631  236           678
   Gross margin in % – adjusted        30%             29%  30%           29%
   Gross margin in % – IFRS            26%             26%  27%           27%
   reported
   Operating expenses – adjusted      -162            -493 -180          -564
   microLED adaption result^2)           2               9   20          -605
   Acquisition-related expense^1)      -17              -4   -8           -31
   Share-based compensation             -5             -14   -5           -10
   Transformation costs                 -4             -37   -5           -14
   Result from the sale of              -3              -2   11             3
   businesses
   Result from at-equity                 0              -3    0            -4
   investments
   Operating expenses – IFRS          -189            -544 -167        -1,225
   reported
   Result from operations (EBIT) –      91             218   82           181
   adjusted
   microLED adaption result^2)           2               9   20          -605
   Acquisition-related expenses^1)     -28             -35  -18           -65
   Share-based compensation             -5             -17   -6           -12
   Transformation costs                -21             -83  -19           -45
   Result from the sale of              -3              -2   11             3
   businesses
   Result from at-equity                 0              -3    0            -4
   investments
   Result from operations (EBIT) –      37              87   69          -547
   IFRS reported
   EBIT margin in % – adjusted         11%              9%   9%            7%
   EBIT margin in % – IFRS              4%              4%   8%          -21%
   reported
                                                                             
   Result from operations (EBIT) –      91             218   82           181
   adjusted
   Amortization, depreciation, and
   impairment (excluding                75             229   84           244
   acquisition-related expense)^1)
   EBITDA – adjusted                   166             447  166           425

    

    

                                         9 months until    Q3 9 months until 
   in EUR million                Q3 2025   September 30, 2024   September 30,
                                                    2025                 2024
   EBITDA – adjusted                 166             447  166             425
   microLED adaption result^2)        16              13   17            -105
   Acquisition-related               -10              19    1              -4
   expenses^1)
   Share-based compensation           -5             -17   -6             -12
   Transformation costs              -12             -64  -13             -37
   Result from the sale of            -3              -2   11               3
   businesses
   Result from at-equity               0              -3    0              -4
   investments
   EBITDA – IFRS reported            152             393  176             266
   EBITDA margin in % – adjusted     20%             18%  19%             17%
   EBITDA margin in % – IFRS         18%             16%  20%             10%
   reported
                                                                             
   Result from operations (EBIT)      91             218   82             181
   – adjusted
   Net financing result              -59            -164  -35            -147
   Income tax result                  -5             -31  -10             -34
   Net result - adjusted              27              22   37               1
   Basic adjusted earnings per      0.27            0.22 0.37            0.01
   share (in EUR)

    

    

   1) Acquisition-related expenses include amortization, depreciation and
   impairment of purchase price allocated assets, integration, carve-out and
   acquisition related costs. The amount for 9 months until September 30,
   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

    

    

    

    

   End of Inside Information

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

   18-Nov-2025 CET/CEST News transmitted by [11]EQS Group

   View original content: [12]EQS News

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

   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: 2231330


    
   End of Announcement EQS News Service


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