Preliminary figures for Osram’s performance in the fiscal year 2020 shows that the company is navigating the COVID-19 pandemic fairly well. According to these preliminary figures, Osram had revenues of €840 million, which is comparable to the previous year’s level.
However, adjusted EBITDA rose nicely at 42% to €162 million, which corresponds to an adjusted EBITDA margin of 19.3%. Free cash flow at €50 million was also a positive trend.
“The consistent measures that we took at the first signs of the crisis have clearly had a positive effect on the development of our business. It shows that we acted at the right time and with the necessary resolve,” said Olaf Berlien, CEO of OSRAM Licht AG. “We are convinced that this decisive action will enable us to emerge stronger from the crisis.”
Meanwhile, Osram reports that it is making excellent progress with its initiatives to improve competitiveness. The target of €300 million in savings from the various Osram performance programs, initially planned for 2022, will be already achieved in the current fiscal year.
The Osram Management Board is now raising its guidance for fiscal year 2021. The company expects year-on-year sales to increase by 10% to 14%, up from earlier expectations of 6% to 10%. Adjusted EBITDA margin is also on the rise, up to 12% and 15 from earlier predictions of 9% to 11%.
