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OSRAM Licht FY Comparable Revenue Up; Initiates Share Buyback Up To EUR 400 Mln

OSRAM Licht AG (OSAGF.PK) reported that comparable revenue for fiscal year 2018 rose by just under two percent to more than 4.1 billion euros. The adjusted operating margin reached 14.7 percent. EBITDA before special items was impacted by the economic slowdown, especially in the automotive industry, and amounted to 605 million euros. Earnings after taxes totaled 142 million euros. The Managing Board proposes a constant dividend of 1.11 euros per share for the past fiscal year. In addition, the company is planning another share buyback of up to 400 million euros.

The company said it is likely to see a stronger performance the second half of the fiscal year. For the year as a whole, management expects comparable revenue development to be flat or to grow moderately (0 to 3 percent). The EBITDA margin adjusted for special items should be between 12 and 14 percent for fiscal year 2019.

OSRAM Licht AG said it has decided to buy-back shares of the Company up to a maximum of 10% of the respective registered share capital of the Company, however for a total
maximum purchase price without ancillary costs of up to 400 million euros.

The buy-back program is based on the authorization of the General Meeting on 14 February 2017 and is expected to be carried out in the period from January 2019 until
June 2020.

Moreover, the Management Board has decided with the approval of the Supervisory Board, to redeem 7.84 million own shares already held by the Company and thus to reduce the registered share capital from 104.69 million euros by 7.84 million euros to 96.85 million euros. It is intended to use the remaining 304,183 own shares to fulfill existing and future delivery obligations from share programs.

In addition, the Management Board and Supervisory Board of OSRAM Licht AG have today decided, to propose to the next General Meeting an unaltered dividend of 1.11 Euro for the past financial year. The basis for this proposal is the diluted earnings per share of 1.44 Euro for the financial year 2018 according to preliminary and unaudited figures.

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