logo
Plus   Neg
Share
Email

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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT