Osram revenue fell by almost 8% to 821 million euros

Although Osram revenue fell by almost 8 percent on a comparable basis to 821 million euros, a positive free cash flow of 64 million euros was achieved particularly through targeted cash management.

The adjusted EBITDA margin improved by almost four percentage points year-on-year to 11.7 percent. Adjusted EBITDA was about a third higher than in the previous year at 96 million euros.

Due to restructuring costs of 45 million euros, mainly for charges for the structural and personnel adjustments, the net result was negative at 39.3 million euros.

“The measures we took very early on to counter the consequences of the COVID-19 crisis are having an effect throughout the company. It has been a challenge to maintain production largely on a regular basis in recent weeks, as our top priority is and remains the health and protection of our employees. Osram is also using the time to be well positioned after the Corona crisis. Our high equity ratio is of great benefit to us,” said Olaf Berlien, CEO of OSRAM Licht AG.

As part of company-wide crisis management, additional liquidity volume of around 200 million euros was identified until the end of the fiscal year through working time measures, the review of investments and consistent financing management, among other things.

Osram is sticking to its existing performance programs, which will bring savings of 300 million euros from 2018 until the end of fiscal year 2022.