Osram raises its guidance for 2020
The managing board of Osram Licht AG raised the guidance for the fiscal year 2020 today due to stronger business recovery in summer, in particular in August.
The company now expects a comparable revenue decline of approximately -14% (previously -15% to -19%), an adjusted EBITDA margin of approximately 8% (previously: 3% to 6%) and a balanced free cash flow which was previously expected to be negative in the middle double digit to lower triple digit million range. Especially the business units Opto Semiconductors (OS) and Automotive (AM) were supported by improved business conditions in its core markets in China and the U.S. Furthermore, the consistent implementation of measures taken to moderate the impact of the COVID-19 pandemic contributes significantly to stabilise profit and Free Cash Flow, the company writes in a short update.