Osram lowers revenue expectations, sells luminaire business: Page 2 of 2

August 03, 2018 //By Julien Happich
Osram lowers revenue expectations, sells luminaire business
“Despite a difficult market environment, we continue to generate good returns in our most important business areas. We are actively addressing the temporary weakness in demand of our customers in the automotive industry and improving our cost base. To ensure success, we are accelerating the current reorganization process and have laid an excellent foundation with the recently achieved reconciliation of interests," said Olaf Berlien, CEO of OSRAM Licht AG, adding that "nothing has changed in terms of long-term growth opportunities."

“Thanks to numerous measures, the earnings position of the Lighting Solutions business unit has stabilized significantly, therefore allowing us to initiate an organized sales process. This will result in a more strategic focus with regards to applications with high growth potential,” said Berlien.

LED- and laser-based technologies are oriented to global megatrends and continue to serve growing high-tech markets. The group is actively shaping the ongoing technological shift and has also recently expanded its portfolio with innovative future technologies. That includes the acquisition of US provider Vixar, which specializes in compact 3D identification technology, and the acquisition of the horticulture company Fluence. The closings of both acquisitions were completed in the beginning of FQ4, as was the takeover of the former Trilux subsidiary BAG electronics. The Osram Continental joint venture, which will shape the future of intelligent car lighting, went into operation at the beginning of July.

Other measures to rectify the current market situation will include the streamlining of the global administration, which could reduce cost by approximately 20 percent, together with several structural and operational programs. This includes the improvement of efficiency in R&D, in the supply chain, and in the German factory alliance. These operational programs should sum to €130 to €140 million in savings by 2020, the company anticipates.

Osram – www.osram.com

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