Osram Licht AG expects for the fiscal year 2020 a comparable revenue decline of -15 to -19 percent, an adjusted EBITDA margin of 3 to 6 percent.
OSRAM had withdrawn the guidance for fiscal year 2020 in March 2020 due to the unpredictable impacts of the COVID-19 pandemic.
The company today said it expects a comparable revenue decline of up to -35 %, a negative adjusted EBITDA margin of up to -10% and a negative free cash flow in the mid double digit million range for the third-quarter.
After a decline of business development in the third-quarter, the company now expects a slight demand recovery in the upcoming months. The weakness of the global automotive business as well as a demand weakness in OSRAM's core markets in Europe and the U.S. will burden the development also in the fourth-quarter.
It is countered by currently increasing revenues in China and the early measures taken by the company which helped to moderate the impact of the COVID-19 pandemic on liquidity and financial results.
The company noted that the measures will continue to be consistently implemented. The same applies to the started structural initiatives for the sustainable improvement of profitability by which gross savings of at least 300 million euros will be realized until the end of fiscal year 2022.
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