With revenues exceeding 6.3 billion, OSRAM released its first quarter results for FY 2019
According to official OSO news, according to preliminary data, in the first quarter of FY 2019, OSRAM's revenue from continuing operations was 828 million euros (about 6.353 billion yuan), down about 15% year-on-year (compared with 939 million euros in the same period last year). The adjusted EBITDA margin is expected to be 11.3% (previous year: 18.5%). The earnings report does not include the sale of the US Xiwannian lighting solution business, nor does it include the upcoming European lighting business. Both businesses were considered discontinued from the first quarter of FY 2019.
The operating results of the three business segments of OSRAM have been weak. For example, the revenue of the Opto Semiconductors division in the first quarter fell by 16.9% year-on-year.
The increase in revenue was disappointing because of the accelerated decline in the market, especially in December 2018. The main affected markets are core markets such as automobiles, general lighting and mobile devices. Most importantly, continued trade frictions, the slowdown in China's economic growth, and the uncertainty of global politics have had a negative impact. As a result, visibility in the coming quarters will remain extremely low.
The board of directors has taken a series of measures to increase revenue; the optoelectronics semiconductor business unit has also carried out a number of structural measures to ensure the realization of this fiscal year's expectations. However, the achievement of performance expectations also depends on the orders received in the coming months.
According to the original plan, the financial data for the first quarter of FY 2019 will be announced in early February.