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Osram Licht Q1 Profit Down 24.7%; Revenues Increase - Quick Facts

Osram Licht AG (OSAGF.PK), a German manufacturer of lamps, lighting systems, and electronic control gears, reported Wednesday that its first-quarter profit after tax declined 24.7 percent to 70 million euros from 92 million euros last year.

The company noted that the latest quarter's results were impacted by currency effects as well as rising research and development expenses.

EBITDA for the quarter decreased 16.7 percent to 157 million euros from 188 million euros in the year-ago period.

Adjusted for special items, EBITDA amounted to 172 million, almost the same as 179 million euros last year, translating into a margin of 16.7 percent, down from 18.0 percent a year ago.

Revenue for the quarter increased 3.5 percent to 1.03 billion euros from 991 million last year. First-quarter revenue grew 5 percent on a comparable basis.

Looking ahead, Osram Licht noted that as previously announced, fiscal year 2018 will be influenced by capital expenditure and impacts from currency effects.

The company forecast fiscal 2018 revenue increase of between 5.5 percent and 7.5 percent. The EBITDA adjusted for special items is likely to be around 700 million euros, and will be influenced by factors such as currency effects, ramp-up costs for Kulim and increased capital expenditure on research and development, which adds up to a three digit million Euro amount.

For fiscal 2018, Osram expects earnings per share between 2.40 euros and 2.60 euros.

Further, Osram Licht said its Managing Board is confident about the company's positive medium-term prospects and is therefore aiming for a dividend of at least 1.11 euros per share again in fiscal year 2018.

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