The automotive market has rebounded in the second half of 2021, which was good news for Osram. For Osram, its first quarter of 2021 brought solid results, and the company significantly raised its outlook for the fiscal year.
The company credits its success to effective measures that the company took at an early stage to counter the corona crisis and to positive earnings trends in all reporting segments.
The semiconductor business, in particular, delivered excellent performance in the first quarter. Opto Semiconductors set a record in the past quarter with its highest adjusted EBITDA margin to date.
“Our strategy is working. In recent years, Osram has taken steps to make itself crisis-proof. That’s why even during this corona pandemic our products are very successful,” said Olaf Berlien, CEO of OSRAM Licht AG. “This is true for our automotive products, and especially for our semiconductors. Without the capacity of our plant in Kulim, we would not be able to meet demand at the moment. Within three years, Kulim has become an important pillar for Opto Semiconductors.”
All three business units performed well in their markets in the first quarter of the new fiscal year. Even during the corona crisis, Automotive (AM) has been strengthening its leading position in retrofit and replacement lamps. AM achieved sales of €474 million, a slight increase on a comparable basis; adjusted EBITDA increased considerably compared to the previous year at €65 million.
Opto Semiconductors (OS) in particular delivered excellent results in the first quarter of the year. With an adjusted EBITDA margin of more than 31%, it posted a record. In the first quarter, OS also reported a comparable increase in sales of nearly 5% to €356 million.