The semiconductor manufacturer AMS Osram implemented a little less in the fourth quarter, but was able to narrow down the loss.
For the current year, the Austrian group expects improved profitability in moderate sales development. However, the start of the year is likely to be behavior due to a continuing demand for demand. The numbers were better than expected. The share therefore put a course jump on Tuesday.
In the meantime, the papers listed in Switzerland climbed by 16.67 percent to CHF 7.95. Analysts welcomed the fourth quarter numbers that failed over the consensus estimates. Despite the difficult end markets, AMS OSRAM delivered a solid quarter of 2024. The weakness in the car business was not as bad as with competitors, it said. Another plus is that the free flow of cash turned into the positive area. The results are better than feared, commented Stifel analyst Jürgen Wagner.
At the outlook, AMS OSRAM was reserved for the starting quarter as expected, said ZKB analyst Michael Inauen. The demand for semiconductor products for cars is still steamed, as well as demand from the industrial and medical market. Nevertheless, the first signals indicated that the sole of the valley was reached. Overall, the outlook was well within the expectations, Inau judged. In contrast, the analysts in unison negatively stated that there was no news for the planned sale of the micro LED factory in Malaysia.
As Osram announced, sales fell 3 percent in the fourth quarter to 882 million euros. The reason for this is the economic weakness of the semiconductor business in the areas of automobile and industry & medical technology. The company explained that the high uncertainty among car manufacturers is currently leading to very short -term orders. In industry & medical technology, the valley sole should be achieved in the segments with low demand. In addition, some products in the area of lamps & systems that AMS OSRAM delivered for original device manufacturers had dropped. The semiconductor core business, on the other hand, has grown.
Operatively, AMS OSRAM was able to keep the result stable. The operating profit adjusted for transformation costs before depreciation and amortizations (EBITDA) remained unchanged at 150 million euros. The corresponding operational margin improved by 0.5 percentage points to 17.0 percent.
In the whole year, sales fell 5 percent to 3.4 billion euros. This also contributed that AMS OSRAM gave up unprofitable semiconductor transactions with sales of around 200 million euros. The remaining semiconductor core portfolio, on the other hand, has grown by around 7 percent in the year, which was close to the medium -term growth destinations for the semiconductor business, it said.
The adjusted result before interest, taxes and depreciation (EBITDA) also fell by 5 percent to 575 million euros. The EBITDA margin remained unchanged at 16.8 percent. AMS OSRAM wrote
After all, the cost reductions were higher than expected; And it should continue to be saved. On the other hand, there were high costs for the exit from the micro LED business with the task of the factory in Malaysia.
In the previous year, however, depreciation had identified 1.3 billion. The bottom line was that Ams Osram was able to halve the loss in the entire year to 785 million euros.
For the current quarter, AMS OSRAM again expects a steamed demand for its semiconductor products for cars. The demand from the industrial and medical market also remains. The company expects a significantly stronger second half for the entire year 2025. This is primarily due to product races and a certain market normalization. In addition, profitability through the efficiency program should improve, even in the event of a moderate sales development, it said.
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