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ER - EQS-Adhoc: ams-OSRAM AG: ams OSRAM delivers cost savings ahead of plan, positive FCF in FY24, Q4 revenues & profitability above mid-point of guided range and expects FCF exceeding EUR 100m in 2025

Company: AMS OSRAM AG Date: 2025-02-11 Language: English Register to download
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Ad hoc announcement pursuant to Art. 53 LR 

EQS-Ad-hoc: ams-OSRAM AG / Key word(s): Quarter Results  

ams-OSRAM AG: ams OSRAM delivers cost savings ahead of plan, positive FCF in FY24, Q4 revenues & profitability above mid-point of guided range and expects FCF exceeding EUR 100m in 2025  

  

11-Feb-2025 / 07:15 CET/CEST  

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.  

The issuer is solely responsible for the content of this announcement.  

  

- - -

**Ad hoc announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange  

  

ams OSRAM delivers cost savings ahead of plan, positive FCF in FY24, Q4 revenues & profitability above mid-point of guided range and expects FCF exceeding EUR 100m in 2025**

-   Q4/24: revenues of EUR 882m, 17.0% adj. EBITDA margin (each above mid-point of guided range)
-   Q4/24: realized run-rate savings of EUR 110m from ‘Re-establish the Base’ (RtB) program 
-   FY24: revenues EUR 3.43bn and 16.8% adj. EBITDA margin
-   FY24: free cash flow (incl. net interest paid) EUR 12m positive after EUR -332m in FY23
-   FY24: semi-core portfolio with ~7% growth yoy
-   FY24: strong cash position of EUR 1.1bn
-   FY24: roughly EUR 5bn life-time-value new semiconductor business won
-   Q1/25: revenues of EUR 750m – 850m and 16% +/-1.5% adj. EBITDA margin expected
-   FY25: free cash flow exceeding EUR 100m expected
-   FY25: improved profitability at moderate revenue development expected due to RtB

**Premstaetten, Austria, and Munich, Germany (11 February 2025) -- ams OSRAM delivers cost savings ahead of plan, EUR 12m positive FCF in FY24, Q4 revenues and profitability above mid-point of guided range and expects FY25 - FCF exceeding EUR 100m**  

*“Our turnaround is in full swing. Focusing on the core portfolio in our semiconductor business proves right. This semi core grew approx. 7% compared to 2023, driven by a strong rebound in sensors for mobile devices based on new product ramps and a resilient auto business. Savings from our ‘Re-establish the Base’ (RtB) strategic efficiency program are ahead of plan, measures supporting the upsized target are already detailed out. We delivered positive FCF in 2024 and expect margin expansion and a positive FCF exceeding EUR 100 million in 2025 even though markets remain volatile.”* said Aldo Kamper, CEO of ams OSRAM.

**Q4/24 financial update**

Revenues stayed essentially flat at EUR 882 million quarter-over-quarter in Q4/24, above the midpoint of the guided range of EUR 810 – 910 million. Strong seasonal auto lamps aftermarket sales and steady semi automotive business compensated continued weakness in industrial & medical applications and the beginning seasonal decline in semiconductor products for consumer handheld devices. The stronger USD also helped coming in above the midpoint of the guided range.  

Year-over-year, Group revenues declined by 3% due to cyclical weakness in automotive and I&M semiconductor businesses and some end-of-life of OEM modules business in Lamps & Systems. The relevant semi core portfolio (excluding the exited non-core portfolio) delivered a growth of approx. 7% year-over-year.

Adjusted EBITDA *(adjusted earnings before interest, taxes, depreciation, and amortization)* came in at EUR 150 million, i.e. at 17.0% adj. EBITDA margin, above the midpoint of the guided range of 15% - 18%.

Adjusted EBIT *(adjusted earnings before interest and taxes)* margin for the Group stood at 6.8%. Adjusted EBIT amounted to EUR 60 million.

**Key reported figures**

|     |     |     |     |     |     |
| --- | --- | --- | --- | --- | --- |
| **EUR millions**    <br><br>**(except per share data)** | **Q4 2024** | **Q3 2024** | **QoQ** | **Q4 2023** | **YoY** |
| Revenues | **882** | **881** | 0%  | 908 | \-3% |
| Opto Semiconductors (OS) | **350** | **381** | \-8% | 365 | \-4% |
| CMOS Sensors & ASICs (CSA) | **258** | **266** | \-3% | 262 | \-2% |
| Lamps & Systems (L&S) | **275** | **233** | +18% | 279 | \-1% |
| Gross profit adj. | **239** | **262** | \-9% | 260 | \-8% |
| Gross margin adj. % | **27.1%** | **29.7%** | \-260 bps | 28.7% | -160 bps |
| Operating income (EBIT) adj. 1) | **60** | **82** | \-27% | 62  | \-3% |
| Operating margin (EBIT) adj. % 1) | **6.8%** | **9.3%** | 250 bps | 6.9% | \-10 bps |
| EBITDA adj. | **150** | **166** | \-10% | 150 | 0%  |
| EBITDA margin adj. % | **17%** | **18.8%** | \-180 bps | 16.5% | 50 bps |
| Net result adj. 1) | **3** | **37** | \-92% | \-16 | n/a |
| Diluted & undiluted EPS adj. (in EUR) 1)2) | **0.03** | **0.37** | \-92% | \-0.34 | n/a |
| Net result (IFRS) | **\-58** | **24** | n/a | \-82 | \-29% |
| Diluted & undiluted EPS (IFRS, in EUR) 2) | **\-0.59** | **0.24** | n/a | \-1.79 | \-67% |
| Operating cash flow 3) | **79** | **246** | \-68% | 34  | 132% |
| Cash flow from CAPEX 4) | **\-104** | **\-102** | \-2% | \-222 | \-53% |
| FCF *(incl. net interest paid)* 5) | **2** | **188** | \-99% | \-125 | n/a |
| Net debt | **1,413** | **1,399** | 1%  | 1,312 | 8%  |
| Net debt *(incl. SLB)* 6) | **1,854** | **1,840** | 1%  | 1,696 | 9%  |

1)    Adjusted for microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs, results from investments in associates and sale of businesses.

2)   Earnings per share are not comparable between the years due to the capital increase on 7 December 2023 whereby additional 724,154,662 shares were issued. Comparative figures were adjusted following the 10:1 reverse share split on 30 September 2024.   

3)   From Q1 2024, operating CF includes net interest paid; 2023 figures reclassified for comparison.

4)   Cash flow from investments in property, plant, and equipment and intangibles (such as capitalized R&D), incl. investment grants.

5)   Excl. financial investments.

6)   Incl. EUR 441m equivalent as of end of December 2024 from SLB Malaysia transaction.

**Semiconductor business update**

**Opto Semiconductors segment (OS)**

Revenues for opto-electronic semiconductors decreased by EUR 31 million to EUR 350 million in Q4/24 compared to EUR 381 million in Q3/24. Adjusted EBITDA was EUR 51 million, representing an adjusted EBITDA margin of 14.6%, down from EUR 88m in Q3/24.

The company continues to receive non-refundable engineering payments (so called ‘NRE’) for the development of LED technologies from certain customers on a currently recurring basis, exemplifying its leading technology position.

**CMOS sensors and ASICs segment (CSA)**

Revenues for CMOS sensors and ASICs slightly decreased by EUR 8 million to EUR 258 million in Q4/24 compared to EUR 266 million in Q3/24 due to the typical seasonal softening in demand for components for consumer handheld devices.

Adjusted EBITDA increased further to EUR 55 million in Q4/24, driven by one-off effects, portfolio optimization and cost savings, both part of the ‘Re-establish the Base’ program, up from EUR 48 million in Q3/24, representing an adjusted EBITDA Margin of 21.3%. 

**Semiconductors industry dynamics**

Revenues from the two semiconductor business units represented approx. 70% of Q4/24 revenues, or EUR 608 million, compared to EUR 629 million a year ago. End-markets continued to show different cyclicality in the fourth quarter.

*Automotive:*

The automotive business came in slightly better than expected against the backdrop of an inventory correction in the semi supply chain. Momentarily customers order on very short notice, reflecting a higher level of uncertainty at the carmakers. The company benefited from order backlog and ramping new sensor products resulting in a 3% quarter-over-quarter increase. The year-over-year decline of 14% is in line with these inventory adjustments due to demand uncertainties seen by Tier-1 and OEM customers, compared to the all-time high revenue in Q4/23.

*Industrial & Medical (I&M):*

The business showed a mixed performance, showing a seasonal (horticulture) and cyclical (industrial automation & mass market) 14% quarter-over-quarter decline. Revenues came in 10% lower than a year ago. However, the company believes that segments with weak demand seem to have bottomed out.

*Consumer:*

With the ramp of new products and healthy overall demand for consumer portable devices, the consumer segment showed a healthy 20% year-over-year increase in revenues. Quarter-over-quarter, the typical seasonal regression set in with an 8% quarter-over-quarter decline.

**Lamps & Systems segment (L&S)**

The Lamps & Systems segment represented approx. 30% of Q4/24 revenues, equaling EUR 275 million. A typical, strong quarter-over-quarter increase of 18%, in line with the aftermarket’s seasonal demand pattern. The slight year-over-year reduction of 3% comes mainly from discontinued OEM products.

Adjusted EBITDA in Q4/24 came in at EUR 50 million or 18.2% adjusted EBITDA margin in line with fall-through from operating leverage.

*Automotive:*

The automotive aftermarket business was in full swing in Q4/24. The OEM business came in as expected.

*Specialty Lamps:*

Lower demand and partially inventory corrections in industrial and professional entertainment markets are continuing, nevertheless revenues improved a bit quarter-over-quarter.

**Q4/24 key financial figures**

*Gross margin*

The adjusted gross margin decreased 260 basis points quarter-over-quarter with CSA coming in stronger due to better loading and OS coming in weaker due to lower loading and lower customer engineering payments. Year-over-year, adj. gross margin decreased 160 basis points in line with lower revenues, product-mix and currency effects.

*Net result & earnings per share*

The adjusted net result came in at EUR 3 million in Q4/24 up from EUR -16 million a year ago and down from EUR 37 million in the third quarter. Both Q4/24 adjusted basic and diluted earnings per share came in at EUR 0.03, down compared to the EUR 0.37 in Q3/24.

The IFRS net result stood at EUR -58 million in Q4/24 after EUR 24 million in Q3/24, due to various positive one-off effects in Q3/24. The company recorded approx. EUR 29 million positive one-offs related to lower microLED strategy adaption expenses. Both basic and diluted IFRS earnings per share came in at EUR -0.58 in Q4/24, after EUR 0.24 in Q3/24.

*Cash flows*

Operating cash flow (including net interest paid) came in at EUR 79 million in Q4/24. Cash flow from investments into PPE and intangibles, or CAPEX, came down significantly to EUR -104 million compared to EUR -222 million a year ago, stayed essentially flat compared to the previous quarter. Free cash flow – defined as operating cash flow including net interest paid minus cash flow from CAPEX plus proceeds from divestments – came in at EUR 2 million in Q4/24.

*Net-debt related financial figures*  

The gross cash position stayed flat with EUR 1,098 million in Q4/24 after EUR 1,097 million in Q3/24. For this, the net debt position stayed also basically flat at EUR 1,413 million quarter-over-quarter after EUR 1,399 million in Q3/24. The company repaid EUR 161 million maturing loans and drew EUR 141 million new loans maturing in 2025 and 2026.

When including EUR 441 million equivalent from the Sale-and-Lease Back Malaysia transaction (booked under other financial liabilities), the net debt position stayed with EUR 1,854 million in Q4/24 on a similar level as in Q3/24.  

**Status of outstanding OSRAM minority shares**

On 31 December 2024, the Group held approx. 86% of OSRAM Licht AG shares. The total liability for minority shareholders’ put options reduced to EUR 585 million at the end of Q4/24 compared to EUR 604 million at the end of the previous quarter.

The company has a Revolving Credit Facility (RCF) in place. The RCF is primarily in place to cover any further significant exercises under the 'domination and profit and loss transfer agreement (DPLTA)’ put option and would be sufficient to fully cover all outstanding minority shareholders’ put options. It could also be drawn for general corporate and working capital purposes.

**FY24 financial and business update**

The Group recorded revenues of EUR 3.43 billion in FY24 after EUR 3.59 billion in FY23, due to a decline in the L&S segment after divesting its Digital Systems business in 2023 and discontinuing some OEM module business.

|     |     |     |     |
| --- | --- | --- | --- |
| **EUR millions**    <br><br>**(except per share data)** | **2024** | **2023** | **YoY** |
| Revenues | **3,428** | 3,590 | \-5% |
| Opto Semiconductors (OS) | **1,448** | 1,386 | 5%  |
| CMOS Sensors & ASICs (CSA) | **981** | 1,039 | \-6% |
| Lamps & Systems (L&S) | **1,000** | 1,165 | \-14% |
| Gross profit adj. | **984** | 1,031 | \-5% |
| Gross margin adj. % 1) | **28.7%** | 28.7% | 0 bps |
| Operating profit adj. 1) | **241** | 233 | 3%  |
| Operating margin adj. % 1) | **7.0%** | 6.5% | 50bps |
| EBITDA adj. | **575** | 604 | \-5% |
| EBITDA margin adj. % | **16.8%** | 16.8% | 0 bps |
| Net profit adj. 1) | **3** | 50  | \-96% |
| Diluted EPS adj. 1)2) | **0.03** | 1.61 | \-88% |
| Net result (IFRS) | **\-785** | \-1,613 | \-51% |
| Diluted EPS (IFRS) 2) | **\-7.94** | \-52.0 | 85% |
| Operating cash flow 3) | **435** | 493 | \-12% |
| Cash flow from CAPEX 4) | **\-502** | \-1,049 | \-52% |
| Free cash flow (incl. interest paid) 5) | **12** | \-332 | n/a |
| Net debt | **1,413** | 1,312 | 8%  |
| Net debt (incl. SLB) 6) | **1,854** | 1,696 | 9%  |
|     |     |     |     |

1)      Excluding microLED strategy adaption expenses M&A-related, other transformation and share-based compensation costs, results from

 investments in associates and sale of businesses.    

2)   Earnings per share are not comparable between the years due to the capital increase on 7 December 2023 whereby additional 724,154,662 shares were issued. Comparative figures were adjusted following the 10:1 reverse share split on 30 September 2024. Earnings per share in CHF were converted using the average currency exchange rate for the respective periods.

3)   From Q1 2024, operating CF includes net interest paid; 2023 figures reclassified for comparison.

4)   Cash flow from investments in property, plant, and equipment and intangibles (such as capitalized R&D), incl. Investment grants.

5)   Excl. financial investments.  

6)   Incl. EUR 441m equivalent from SLB Malaysia transaction.

*Growth in the core-semiconductor portfolio*

When launching its ‘Re-establish the Base’ program, the company identified a non-profitable, non-core semiconductor portfolio of approx. EUR 350 million in FY23 which was decided to be exited. During FY24, most of these product lines have been exited step by step, however, the accumulated revenues for the year still totaled approx. EUR 200 million, which had been mostly phased-out by end of December 2024. Taking this into account, the core semiconductor portfolio grew year-over-year approx. 7% - broadly in line with the growth target of the company’s target operating model.

*Profitability*

In 2024, the company switched its key profitability metrics to adj. EBITDA. For fiscal year 2024, adj. EBITDA came in at EUR 575 million after EUR 604 million, resulting in a stable adj. EBITDA margin of 16.8% for both years. The market weakness in automotive and I&M semis in the second half of 2024 offset improvements due to RtB, i.e. lower operating expenses and the gradual exit of non-profitable, non-core semi-portfolio, as well as customer payments for development and deconsolidation of L&S businesses.

Adjusted EBIT improved to EUR 241 million in FY24 after EUR 233 million in the previous fiscal year. In addition to the effects for the yoy development of adj. EBITDA, lower depreciation after impairment of manufacturing equipment improved adj. EBIT.

In FY24, adjusted diluted earnings per share stood at EUR 0.03 and EUR -7.94 unadjusted.

*Free cash flow*

In 2023, the Group reported free cash flow (incl. interest paid) of EUR -332 million driven by exceptionally high CAPEX levels associated with the microLED project. In 2024, this steeply improved coming in at a positive EUR 12 million despite significant transformation cost for the adjustment of the microLED strategy after the cancellation of the cornerstone project in February 2024. On top, the transformation costs for implementing the ‘Re-establish the Base’ program had to be borne. Key for the significant FCF improvement yoy were savings from the ‘Re-establish the Base’ program, customer pre-payments exemplifying the company’s leading technology position, and significantly reduced capital expenditures.

**FY24 progress of ‘Re-establish the Base’ program**

On 27 July 2023, the company announced its strategic efficiency program ‘Re-establish the Base’, which aimed at focusing the company on its profitable, structurally growing core, initially targeting approx. EUR 150 million run-rate savings by end of FY25 compared to FY23 actuals.  On 7 November 2024, the company extended the program to 2026, upsizing the savings target to approx. EUR 225 million run-rate savings by end of 2026.

Until end-of-2024, the company has realized already approx. EUR 110 million savings, exceeding the EUR 75 million run-rate savings target for FY24. Recent implementation successes are especially evident when looking at the profitability improvement of the CSA segment. All measures to achieve the full savings have already been defined and will be fully implemented until end of 2026.

When it comes to the company’s non-core semiconductor portfolio (approx. EUR 350 million, in 2023, approx. EUR 200 million in 2024), it is mostly phased out by the end-of-2024. Thus, the exit is essentially complete with (a) the sale of assets of the Passive Optical Components business to Focuslight Inc. (2) the restructuring of the CMOS image sensor business, and (3) the end-of-life phase out of the remaining product-lines.

**Summary of transformation costs**

The company excludes transformation costs amongst other items from its operational performance measures, i.e. adj. EBITDA and adj. EBIT. Transformation costs in FY24 were mainly driven by the adjustment of its microLED strategy and its ‘Re-establish the Base’ program.

In Q4/24, the company recorded a net gain of approx. EUR 29 million by reversing certain provisions related to the microLED strategy adaption. In summary, total cost for adjusting the microLED strategy came in at EUR 576 million in FY24, significantly lower than initially expected. Within that number, there were impairment charges of EUR 490 million and transformation costs of EUR 86 million.

Transformation costs related to ’Re-establish the Base’ were approx. EUR 18 million in Q4/24. For FY24, the total amount came in with EUR 37 million.               

**FY24 Strong Design-Win performance in Fiscal Year**

The company continues to win meaningfully new business across a wide customer base underpinning its structural growth targets in its core semiconductor business. The combined figure came in close to EUR 5 billion, supported by wins across all segments of its core semiconductor portfolio. The largest contribution came from automotive.

**First quarter 2025 Outlook**

The company expects muted demand for its automotive semiconductor products in Q1/25 reflecting the persisting uncertainties and corrections in the global automotive supply chain. The demand from industrial and medical markets also remains muted, although first small signals might indicate that the weakness has reached its bottom. The business with its semiconductor products for consumer handheld devices will go into its typical strong seasonal decline.

Looking at the L&S segment, the automotive aftermarket halogen lamps business will come in slightly lower – in line with its typical, seasonal demand pattern.

As a result, the Group expects first quarter revenues to land in a range of EUR 750 – 850 million. In line with fall-through and further savings from the ‘Re-establish the Base’ program coming into effect, the company expects adj. EBITDA to come in at 16% +/-1.5%. The EUR/USD exchange rate is assumed to be 1.05.

**FY 2025 commentary**

The company expects a meaningfully stronger second half mainly due to product ramps and to some extent, market normalization. Furthermore, the company expects improving profitability driven by its ‘Re-establish the Base’ program even in case of moderate revenue development, CAPEX spendings of less than 8% of sales (including capitalized R&D and expected investment grants, e.g. from the European Chips Act), and a positive free cash flow (incl. net interest paid) exceeding EUR 100 million due to improved earnings, lower CAPEX and similar operating NWC in FY25.

**Additional Information**

Additional financial information for the fourth quarter 2024 is available on the company [website](https://app.schedulr.ch/trace/visit/ed0034fc-af1d-4885-9cc2-579c5a2ced2c) . The fourth quarter 2024 investor presentation incl. detailed information is also available on the company [website](https://app.schedulr.ch/trace/visit/f784e035-27b7-463a-bbc1-2ad51a3cefb8) .

ams OSRAM will host a press call as well as a conference call for analysts and investors on the fourth quarter and full-year 2024 results on Tuesday, 11 February 2025. The conference call for analysts and investors will start at 9.45 am CET and can be joined via webcast. The annual press conference and call will take place at 11.00 am CET. Journalists who would like to join the press conference in person or the call can reach out to press@ams-osram.com or investor@ams-osram.com for further information.

**About** **ams OSRAM:**

The ams OSRAM Group (SIX: AMS) is a global leader in innovative light and sensor solutions.

With more than 110 years of industry experience, we combine engineering excellence and global manufacturing with a passion for cutting-edge innovation. Our commitment to pushing the boundaries of illumination, visualization, and sensing enable transformative advancements in the automotive, industrial, medical, and consumer industries.

“Sense the power of light” – our success is based on the deep understanding of the potential of light and our distinct portfolio of both emitter and sensor technologies. Approximately 19,700 employees worldwide focus on pioneering innovations alongside the societal megatrends of digitalization, smart living and sustainability. This is reflected in over 13,000 patents granted and applied. Headquartered in Premstaetten/Graz (Austria) with co-headquarters in Munich (Germany), the Group achieved EUR 3.4 billion revenues in 2024 and is listed as ams-OSRAM AG on the SIX Swiss Exchange (ISIN: AT0000A3EPA4). 

Find out more about us on [https://ams-osram.com](https://app.schedulr.ch/trace/visit/2d87b3bc-424b-476e-90b3-2e0b3debe92e)   

ams and OSRAM are registered trademarks of ams OSRAM Group. In addition, many of our products and services are registered or filed trademarks of ams OSRAM Group. All other company or product names mentioned herein may be trademarks or registered trademarks of their respective owners.  

**Join ams OSRAM social media channels:** [\>Twitter](https://app.schedulr.ch/trace/visit/440b4eb7-f587-4c39-85c1-9df0799c2000)   [\>LinkedIn](https://app.schedulr.ch/trace/visit/073fb4c7-9d57-43bb-89e8-3013f1ed1274)   [\>Facebook](https://app.schedulr.ch/trace/visit/b58fc4df-30e2-4ac1-b5e8-fa20be8046a6)   [\>YouTube](https://app.schedulr.ch/trace/visit/05229ceb-9b2f-43a5-a07b-3c5ac69cd9b2)  

**For further information**

**Investor Relations**     **Media Relations**       

**ams-OSRAM AG**      **ams-OSRAM AG**   

Dr Juergen Rebel    Bernd Hops   

Senior Vice President    Senior Vice President   

Investor Relation    Corporate Communications 

T: +43 3136 500-0                    T: +43 3136 500-0  

[investor@ams-osram.com](mailto:investor@ams-osram.com)     [press@ams-osram.com](mailto:press@ams-osram.com)     

 

**Consolidated Statement of Income in accord. with IFRS (unaudited)**

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| **in EUR million**  <br><br>**(except earnings per share)** | **Q4 2024** | **Full year 2024** | **Q4 2023** | **Full year 2023** |
| Revenues | 882 | 3,428 | 908 | 3,590 |
| Cost of sales | \-702 | \-2,571 | \-683 | \-2,750 |
| **Gross profit** | **179** | **857** | **225** | **840** |
| Research and development expenses | \-86 | \-419 | \-107 | \-480 |
| Selling, general and administrative expenses | \-116 | \-422 | \-138 | \-501 |
| microLED adaption expenses 1) | 29  | \-576 | \-  | \-  |
| Goodwill impairment | \-  | \-  | \-  | \-1,313 |
| Other operating income | 2   | 39  | 26  | 81  |
| Other operating expenses | \-6 | \-21 | \-2 | \-34 |
| Results from investments accounted for using the equity method, net | \-3 | \-7 | \-8 | \-24 |
| **Result from operations** | **0** | **\-547** | **\-4** | **\-1,430** |
|     |     |     |     |     |
| **Net financial result** | **\-58** | **\-205** | **\-80** | **\-171** |
| **Result before income taxes** | **\-58** | **\-752** | **\-84** | **\-1,601** |
|     |     |     |     |     |
| Income taxes | 0   | \-33 | 2   | \-12 |
| **Net result** | **\-58** | **\-785** | **\-82** | **\-1,613** |
|     |     |     |     |     |
| **Attributable to:** |     |     |     |     |
| Non-controlling interests | \-1 | 1   | 0   | 1   |
| Shareholders of ams-OSRAM AG | \-57 | \-786 | \-82 | \-1,613 |
|     |     |     |     |     |
| Basic earnings per share (in EUR) 2) | \-0.59 | \-7.94 | \-1.79 | \-52.00 |
| Diluted earnings per share (in EUR) 2) | \-0.59 | \-7.94 | \-1.79 | \-52.00 |

1)   microLED strategy adaption expenses reflect net charges (impairments and reversals of impairments on assets and recognition of provisions) due to the cancellation of the microLED cornerstone project on 28 February 2024.

2)   Earnings per share are not comparable between the years due to the capital increase on 7 December 2023 whereby additional 724,154,662 shares were issued. The figures for the comparative periods were adjusted following the reverse stock split on 30 September 2024.

  

**Consolidated Statement of Comprehensive Income in accordance**

**with IFRS** **(unaudited)**

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| **in EUR million** | **Q4 2024** | **2024** | **Q4 2023** | **2023** |
| **Net result** | **\-58** | **\-785** | **\-82** | **\-1.613** |
|     |     |     |     |     |
| Remeasurements of defined benefit plans | 4   | 21  | \-2 | 14  |
| *therein income tax effect* | *\-5* | *\-4* | *7* | *5* |
| Fair value measurement of equity instruments (FVOCI) | 2   | \-1 | \-31 | \-36 |
| *therein income tax effect* | 0   | *0* | *0* | *0* |
| **Items that will not be reclassified in profit or loss** | **6** | **20** | **\-32** | **\-22** |
|     |     |     |     |     |
| Currency translation differences | 101 | 129 | \-65 | \-118 |
| Fair value measurement of debt instruments (FVOCI) | \-2 | 2   | \-4 | \-4 |
| *therein income tax effect* | 1   | *\-1* | *1* | *1* |
| Derivative financial instruments for hedging purposes | \-12 | \-10 | 9   | \-8 |
| *therein income tax effect* | 6   | *5* | *0* | *4* |
| **Items that may be reclassified subsequently to profit or loss** | **86** | **121** | **\-61** | **\-130** |
|     |     |     |     |     |
| **Other comprehensive income (loss), net of tax** | **92** | **141** | **\-93** | **\-152** |
| **Total comprehensive income (loss)** | **35** | **\-644** | **\-175** | **\-1,765** |
|     |     |     |     |     |
| **Attributable to:** |     |     |     |     |
| Non-controlling interests | 1   | 2   | 0   | 0   |
| Shareholders of ams-OSRAM AG | 34  | \-646 | \-175 | \-1,765 |

**Consolidated Balance Sheet in accordance with IFRS (unaudited)**

|     |     |     |
| --- | --- | --- |
| **in EUR million** | **31 Dec 2024** | **31 Dec 2023** |
| **ASSETS** |     |     |
| Cash and cash equivalents | 1,098 | 1,146 |
| Trade receivables | 496 | 470 |
| Other current financial assets | 49  | 55  |
| Inventories | 809 | 716 |
| Other current non-financial assets | 267 | 230 |
| Assets held for sale | 23  | 3   |
| **Total current assets** | **2,743** | **2,620** |
|     |     |     |
| Property, plant, and equipment | 1,729 | 1,997 |
| Intangible assets | 2,054 | 2,249 |
| Right-of-use assets | 189 | 215 |
| Investment in associates | 4   | 11  |
| Other non-current financial assets | 58  | 77  |
| Deferred tax assets | 74  | 72  |
| Other non-current non-financial assets | 52  | 160 |
| **Total non-current assets** | **4,160** | **4,782** |
| **Total assets** | **6,903** | **7,401** |
|     |     |     |
| **LIABILITIES AND EQUITY** |     |     |
| **Liabilities** |     |     |
| Current interest-bearing loans and borrowings | 495 | 322 |
| Trade payables | 472 | 572 |
| Other current financial liabilities | 1,001 | 1,021 |
| Current provisions | 227 | 236 |
| Income tax payable | 45  | 64  |
| Other current non-financial liabilities | 274 | 238 |
| Liabilities associated with assets held for sale | \-  | 0   |
| **Total current liabilities** | **2,514** | **2,455** |
|     |     |     |
| Non-current interest-bearing loans and borrowings | 2,016 | 2,136 |
| Other non-current financial liabilities | 587 | 580 |
| Employee benefits | 150 | 147 |
| Non-current provisions | 58  | 43  |
| Deferred tax liabilities | 46  | 58  |
| Other non-current non-financial liabilities | 296 | 79  |
| **Total non-current liabilities** | **3,153** | **3,042** |
|     |     |     |
| **Equity** |     |     |
| Issued capital | 998 | 998 |
| Additional paid-in capital | 2,090 | 2,130 |
| Treasury shares | \-87 | \-103 |
| Other components of equity | 292 | 162 |
| Retained earnings | \-2,064 | \-1,289 |
| **Total equity attributable to shareholders of ams-OSRAM AG** | 1,229 | **1,899** |
| Non-controlling interests | 6   | 6   |
| **Total equity** | **1,235** | **1,905** |
| **Total liabilities and equity** | **6,903** | **7,401** |

**Consolidated Statement of Cash Flows in accordance with IFRS**

(unaudited)

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| **in EUR million** | **Q4 2024** | **Full year 2024** | **Q4 2023**  <br><br>**Reclassified** **1)** | **Full year 2023**  <br><br>**Reclassified** **1)** |
| **Operating activities** |     |     |     |     |
| Net result | \-58 | \-785 | \-82 | \-1,613 |
| Reconciliation between net result and cash flows from operating activities |     |     |     |     |
| Amortization, depreciation, and impairment | 130 | 942 | 120 | 1,892 |
| Expenses from stock option plans (acc. to IFRS 2) | 7   | 18  | 24  | 49  |
| Income taxes | 0   | 33  | \-2 | 12  |
| Net financial result | 58  | 205 | 80  | 171 |
| Result from sales of businesses, intangible assets and property, plant, and equipment | 5   | \-1 | \-3 | \-11 |
| Result from investments in associates | 3   | 7   | 8   | 24  |
| Other adjustments for non-cash items | \-  | \-  | \-  | 0   |
| Changes in current assets and current liabilities | \-  | -   | \-  | \-  |
| Inventories | 40  | \-79 | 54  | 96  |
| Trade receivables | \-85 | \-7 | \-65 | 24  |
| Other current assets | 34  | 11  | 17  | 32  |
| Trade payables | \-16 | \-4 | \-69 | \-73 |
| Current provisions | \-43 | \-14 | 7   | \-13 |
| Other current liabilities | 4   | 43  | 20  | 175 |
| Changes in other assets and liabilities | 15  | 31  | \-20 | \-30 |
| Non-current prepayment received from a customer | \-  | 224 | \-  | \-  |
| Income taxes paid | 2   | \-48 | \-12 | \-85 |
| Dividends received | 0   | 0   | 0   | 0   |
| Interest received | 12  | 38  | 3   | 22  |
| Interest paid | \-26 | \-180 | \-46 | \-181 |
| **Cash flows from operating activities** | **79** | **435** | **34** | **493** |

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| **in EUR million** | **Q4 2024** | **Full year 2024** | **Q4 2023**  <br><br>**Reclassified** **1)** | **Full year 2023**  <br><br>**Reclassified** **1)** |
| **Investing activities** |     |     |     |     |
| Additions to intangible assets and property, plant, and equipment | \-104 | \-502 | \-222 | \-1,049 |
| Acquisition of financial investments | \-1 | \-1 | 0   | \-1 |
| Inflows from sale of investments, intangible assets, and property, plant and equipment | 27  | 36  | 64  | 90  |
| Inflows from sale of businesses, net of cash and cash equivalents disposed | \-  | 43  | \-1 | 134 |
| **Cash flows from investing activities** | **\-78** | **\-424** | **\-159** | **\-826** |
|     |     |     |     |     |
| **Financing activities** |     |     |     |     |
| Inflows from issuance of common stock | \-  | \-  | 827 | 827 |
| Inflows from bonds | \-  | 201 | 981 | 981 |
| Transaction costs for the capital increase and the issue of bonds | \-3 | \-17 | \-56 | \-56 |
| Repayment of bonds | \-  | \-  | \-1,288 | \-1,288 |
| Acquisition of treasury shares | \-  | \-  | \-  | 0   |
| Sale of treasury shares | 0   | 2   | 9   | 9   |
| Inflows from loans | 141 | 243 | 0   | 378 |
| Repayment of loans | \-161 | \-422 | \-236 | \-481 |
| Repayment of lease liabilities | \-16 | \-57 | \-13 | \-57 |
| Inflows from sale and lease back financing | \-  | 10  | 382 | 382 |
| Acquisition of non-controlling interests in OSRAM Licht AG | \-19 | \-25 | \-5 | \-232 |
| Dividends paid to shareholders of OSRAM Licht AG | \-  | \-30 | -   | \-37 |
| Dividends paid to non-controlling shareholders | \-  | \-1 | \-1 | \-1 |
| **Cash flows from financing activities** | **\-56** | **\-98** | **601** | **426** |
|     |     |     |     |     |
| Change in cash and cash equivalents | 1   | \-47 | 455 | 47  |
| Effect of changes in foreign exchanges rates on cash and cash equivalents | 56  | 40  | \-21 | \-45 |
| Cash and cash equivalents at the beginning of the period | 1,097 | 1,146 | 691 | 1,098 |
| **Cash and cash equivalents at the end of the period** | **1,098** | **1,098** | **1,146** | **1,146** |
| Less: Cash and cash equivalents of assets held for sale at the end of period | \-  | \-  | 0   | 0   |
| **Cash and cash equivalents at the end of the period** | **1,098** | **1,098** | **1,146** | **1,146** |

1)   For reclassifications, see note accounting policies as well as estimates and uncertainties in the half year report 30 June 2024.

The reclassification of interest paid resulted in a reduction in cash flows from operating activities by EUR 180 million for the full year 2023 (EUR 46 million for the fourth quarter of 2023) and a countervailing effect on cash flows from financing activities.

  The reclassification of the cash outflows for the acquisition of non-controlling interests in OSRAM Licht AG led to a reduction in cash flows from financing activities by EUR 232 million for the full year 2023 (EUR 5 million for the fourth quarter of 2023) and a countervailing effect on cash flows from investing activities.

**Consolidated Statement of Changes in Equity in accordance with**

**IFRS** **(unaudited)**

|     |     |     |     |     |     |     |     |     |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| **in EUR million** | **Issued capital** | **Additional paid-in capital** | **Treasury shares** | **Other components of equity** | **Retained earnings** | **Total equity attributable to shareholders of ams-OSRAM AG** | **Non-controlling interests** | **Total equity** |
| **Balance as of**  <br><br>**January 1, 20223** | **274** | **2,036** | **\-121** | **280** | **358** | **2,826** | **7** | **2,833** |
| Capital increase | 724 | 73  |     |     |     | 797 |     | 797 |
| Net result |     |     |     |     | \-1,613 | \-1,613 | 1   | \-1,613 |
| Other comprehensive income (loss), net of tax |     |     |     | \-118 | \-33 | \-151 | \-1 | \-152 |
| **Total comprehensive income (loss)** | **0** | **0** | **0** | **\-118** | **\-1,647** | **\-1,765** | **0** | **\-1,765** |
| Share based payments |     | 30  |     |     |     | 30  |     | 30  |
| Acquisition and sale of treasury shares |     | \-8 | 17  |     |     | 8   |     | 8   |
| Dividends paid |     |     |     |     |     |     | \-1 | \-1 |
| Reissuance of treasury shares |     |     | 2   |     |     | 2   |     | 2   |
| **Balance as of December 31, 2023 = January 1, 2024** | **998** | **2,130** | **\-103** | **162** | **\-1,289** | **1,899** | **6** | **1,905** |
| Net result |     |     |     |     | \-786 | \-786 | 1   | \-785 |
| Other comprehensive income (loss), net of tax |     |     |     | 129 | 11  | 140 | 0   | 141 |
| **Total comprehensive income (loss)** |     |     |     | **129** | **\-775** | **\-646** | **2** | **\-644** |
| Share based payments |     | 9   |     |     |     | 9   |     | 9   |
| Acquisition and sale of treasury shares |     |     |     |     |     |     |     |     |
| Reissuance of treasury shares |     |     | 16  |     |     | 16  |     | 16  |
| Non-controlling interests – Put Option |     | \-49 |     |     |     | \-49 |     | \-49 |
| Dividends paid |     |     |     |     |     |     | \-1 | \-1 |
| **Total equity as of December 31, 2024** | **998** | **2,090** | **\-87** | **292** | **\-2,064** | **1,229** | **6** | **1,235** |

**Segment reporting**

Business segments are the business units (BUs) in accordance with their independent operating activities and internal reporting structure. At the beginning of 2024, ams OSRAM adjusted its corporate structure to promote the entrepreneurial approach at business unit (BU) level and to strengthen innovation by decentralizing certain functions. The change in the corporate structure is reflected in the internal reporting structure, with each BU representing a separate operating and reporting segment in accordance with IFRS 8.

Group activities are now managed via three business units (BUs):

1.  BU Opto Semiconductors (OS) with focus on emitters
2.  BU CMOS Sensors and ASICs (CSA) with a focus on sensor technology and analog mixed-signal chips. BU CSA bundles the business activities of the previous BUs Advanced Optical Sensors (AOS) and Image Sensor Solutions (ISS).
3.  BU Lamps & Systems (L&S) specializing in traditional lamps and lighting products with a focus on the automotive, industrial and medical end markets.

From 2024, the costs of corporate functions that are not directly attributable to the BUs, as well as functions shared in the Semiconductor business are no longer allocated to the BUs, but are recorded centrally and now reported as corporate items. This and a harmonization of cost allocation within the Group led to an adjustment of the cost allocations reported in the previous year (BU Lamps & Systems: EUR 13 million lower expenses, BUs in semiconductors business: EUR 10 million lower expenses, corporate items: EUR 23 million higher expenses).

In addition, the segment indicator “segment result” was adjusted in line with internal reporting and now includes gross profit, research and development expenses, selling, general and administrative expenses, expenses for the microLED strategy adaption and other operating income and expenses as well as the results from investments in associates. Depreciation, amortization and impairment losses are not included in the segment result.

The previous year's figures have been adjusted to reflect the new corporate structure.

**Business Segments**

**in EUR million**

| **Business segments** | **OS** | **CSA** | **L&S** | **Corporate Items** | **Summe** |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|     | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
| **Consolidated revenues** | 1,448 | 1,386 | 981 | 1,039 | 1,000 | 1,165 | \-  | \-  | 3,428 | 3,590 |
| **Segment result** | **168** | **242** | **102** | **58** | **156** | **198** | **\-31** | **\-36** | **395** | **463** |
|     |     |     |     |     |     |     |     |     |     |     |
| **Material Items:** |     |     |     |     |     |     |     |     |     |     |
| Research & development expenses | \-212 | \-227 | \-163 | \-205 | \-29 | \-31 | \-15 | \-17 | \-419 | \-480 |
| *Therein: depreciation, amortization and impairment* | \-43 | \-49 | \-23 | \-49 | \-1 | \-1 | \-1 | \-1 | \-68 | \-100 |
| Depreciation, Amortization and Impairment 1) | \-728 | \-250 | \-153 | \-248 | \-61 | \-69 | \-1 | \-2 | \-942 | \-569 |
| Goodwill impairment | \-  | \-1,019 | \-  | \-294 | \-  | \-11 | \-  | \-  | \-  | \-1,323 |
| MicroLED adaption expenses | \-576 | \-  | \-  | \-  | \-  | \-  | \-  | \-  | \-576 | \-  |
| *Therein: depreciation, amortization and impairment* | \-491 | \-  | \-  | \-  | \-  | \-  | \-  | \-  | \-491 | \-  |

1.  Excluding impairment of goodwill, but including net impairment on microLED-related assets

**Reconciliation of the segment result to earnings before income taxes**

**in EUR million**

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
|     |     | **2024** |     | **2023** |
| **Segment result** |     | **395** |     | **463** |
| Depreciation, amortization and impairment |     | \-942 |     | \-1,892 |
| Net financial result |     | \-205 |     | \-171 |
| **Result before income taxes** |     | **\-752** |     | **\-1,601** |

Segment assets include only those assets that can be directly allocated to the respective segment, such as segment-specific tangible and intangible assets, and rights of use under leases.

**Segment assets**

**in EUR million**

|     |     |     |     |     |     |     |     |     |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| **Business segments** | **OS** | **CSA** | **L&S** | **Total** |
|     | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
| **Segment assets** | 2,907 | 3,160 | 1,153 | 1,063 | 722 | 953 | **4,782** | **5,177** |
| **Reconciliation to the consolidated financial statements** |     |     |     |     |     |     |     |     |
| Cash and cash equivalents |     |     |     |     |     |     | 1,098 | 1,146 |
| Trade receivables |     |     |     |     |     |     | 496 | 470 |
| tax assets |     |     |     |     |     |     | 74  | 72  |
| Assets held for sale |     |     |     |     |     |     | 23  | 3   |
| financial assets |     |     |     |     |     |     | 58  | 77  |
| Investment in associates |     |     |     |     |     |     | 4   | 11  |
| Other non-allocated assets |     |     |     |     |     |     | 368 | 446 |
| **Total assets** |     |     |     |     |     |     | **6,903** | **7,401** |

In terms of geographical regions, the Group is broken down into the following three regions: EMEA (Europe, Middle East, and Africa), Americas (North and South America), and Asia/Pacific. Revenue is allocated to these regions based on customers’ geographical location (billing address). The highest revenues are generated by a customer common to the OS and CSA segments. They account for more than 10% of revenues (2023: more than 10%).

**Revenue by Region**

**in EUR million**

|     |     |     |     |     |     |     |     |     |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| **Business segments** **1)** | **OS** | **CSA** | **L&S** | **Summe** |
|     | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
| **EMEA** | **394** | **447** | **183** | **233** | **347** | **449** | **924** | **1,129** |
| thereof Austria | 21  | 25  | 9   | 1   | 15  | 14  | 45  | **40** |
| thereof Germany | 207 | 253 | 64  | 111 | 68  | 84  | 339 | **449** |
| **Americas** | **257** | **180** | **50** | **52** | **439** | **465** | **747** | **697** |
| thereof USA | 213 | 138 | 32  | 37  | 370 | 387 | 615 | **563** |
| **Asia / Pacific** | **797** | **757** | **748** | **754** | **213** | **253** | **1,757** | **1,764** |
| thereof Greater China 2) | 521 | 481 | 699 | 662 | 106 | 116 | 1,326 | **1,260** |
| **Total** | **1,448** | **1,386** | **981** | **1,039** | **1,000** | **1,165** | **3,428** | **3,590** |

1.  The revenue distribution by region and segment was updated as part of the change in corporate structure, resulting in changes to the figures reported for the previous year.
2.  The Greater China line combines China, Hong Kong and Taiwan.

**Non-current Assets by Region**

**in EUR million**

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
|     |     | **2024** |     | **2023** |
| EMEA |     | 1,942 |     | 2,299 |
| Americas |     | 453 |     | 458 |
| Asia / Pacific |     | 1,578 |     | 1,704 |
| **Total** |     | **3,972** |     | **4,461** |
| thereof Austria |     | 324 |     | 442 |
| thereof Germany |     | 1,309 |     | 1,526 |
| thereof Malaysia |     | 993 |     | 1,088 |

**Reconciliation from adjusted figures to reported figures in accordance with IFRS**

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| **in EUR million** | **Q4 2024** | **Full year 2024** | **Q4 2023** | **Full year 2023** |
| **Gross profit – adjusted** | **239** | **984** | **260** | **1,031** |
| Acquisition-related expense 1) | \-10 | \-44 | \-20 | \-82 |
| Share-based compensation | \-1 | \-3 | \-8 | \-9 |
| Transformation costs | \-48 | \-79 | \-7 | \-35 |
| Asset restructuring 2) | \-  | \-  | 0   | \-65 |
| **Gross profit – IFRS reported** | **179** | **857** | **225** | **840** |
| Gross margin in % – adjusted | 27 % | 29 % | 29% | 29% |
| Gross margin in % – IFRS reported | 20 % | 25 % | 25% | 23% |
| **Operating expenses – adjusted** | **\-179** | **\-743** | **\-198** | **\-798** |
| microLED adaption expenses 3) | 29  | \-576 | \-  | \-  |
| Goodwill impairment | \-  | \-  | \-  | \-1,313 |
| Acquisition-related expense 1) | \-9 | \-40 | \-14 | \-71 |
| Share-based compensation | \-5 | \-15 | \-16 | \-40 |
| Transformation costs | \-7 | \-21 | \-7 | \-43 |
| Asset restructuring 2) | \-  | \-  | \-  | \-  |
| Result from the sale of businesses | \-5 | \-2 | 14  | 18  |
| Result from at-equity investments | \-3 | \-7 | \-8 | \-24 |
| **Operating expenses – IFRS reported** | **\-180** | **\-1,405** | **\-229** | **\-2,270** |
| **Result from operations (EBIT) – adjusted** | **60** | **241** | **62** | **233** |
| microLED adaption expenses 3) | 29  | \-576 | \-  | \-  |
| Goodwill impairment | \-  | \-  | \-  | \-1,313 |
| Acquisition-related expenses 1) | \-20 | \-84 | \-34 | \-152 |
| Share-based compensation | \-7 | \-18 | \-24 | \-49 |
| Transformation costs | \-56 | \-100 | \-15 | \-78 |
| Asset restructuring 2) | \-  | \-  | 0   | \-65 |
| Result from the sale of businesses | \-5 | \-2 | 14  | 18  |
| Result from at-equity investments | \-3 | \-7 | \-8 | \-24 |
| **Result from operations (EBIT) – IFRS reported** | **0** | **\-547** | **\-4** | **\-1,430** |
| EBIT margin in % *–* adjusted | 7 % | 7 % | 7%  | 6%  |
| EBIT margin in % – IFRS reported | 0 % | \-16 % | 0%  | \-40% |
|     |     |     |     |     |
| **Result from operations (EBIT) – adjusted** | **60** | **241** | **62** | **233** |
| Amortization, depreciation, and impairment (excluding acquisition-related expense) 1) | 90  | 334 | 87  | 370 |
| **EBITDA – adjusted** | **150** | **575** | **150** | **604** |

  

 

|     |     |     |     |     |
| --- | --- | --- | --- | --- |
| **in EUR million** | **Q4 2024** | **Full year 2024** | **Q4 2023** | **Full year 2023** |
| **EBITDA – adjusted** | **150** | **575** | **150** | **604** |
| microLED adaption expenses 3 ) | 20  | \-85 | \-  | \-  |
| Acquisition-related expenses 1) | \-1 | \-5 | \-4 | \-35 |
| Share-based compensation | \-7 | \-18 | \-24 | \-49 |
| Transformation costs | \-25 | \-62 | \-11 | \-51 |
| Result from the sale of businesses | \-5 | \-2 | 14  | 18  |
| Result from at-equity investments | \-3 | \-7 | \-8 | \-24 |
| **EBITDA – IFRS reported** | **130** | **395** | **116** | **463** |
| EBITDA margin in % – adjusted | 17 % | 17 % | 16% | 17% |
| EBITDA margin in % – IFRS reported | 15 % | 12 % | 13% | 13% |
|     |     |     |     |     |
| **Result from operations (EBIT) – adjusted** | **60** | **241** | **62** | **233** |
| Net financing result | \-58 | \-205 | \-80 | \-171 |
| Income tax result | 0   | \-33 | 2   | \-12 |
| **Net result –** **adjusted** | **3** | **3** | **\-16** | **50** |
| **Basic adjusted earnings per share (in EUR)** **4)** | **0.03** | **0.03** | **\-0.34** | **1.61** |

1.  Acquisition-related expense include amortization, depreciation and impairment of purchase price allocated assets, integration, carve-out and acquisition related costs.
2.  Starting with the year 2024, asset restructuring costs are included in transformation costs
3.  microLED strategy adaption expenses reflect charges (e.g. impairments of assets and provisions) due to the cancellation of the microLED cornerstone project on 28 February 2024.
4.  Basic adjusted earnings per share for the comparative periods were adjusted following the reverse share split on 30 September 2024.

 

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|     |     |
| --- | --- |
| Language: | English |
| Company: | ams-OSRAM AG |
|     | Tobelbader Straße 30 |
|     | 8141 Premstaetten |
|     | Austria |
| Phone: | +43 3136 500-0 |
| E-mail: | investor@ams-osram.com |
| Internet: | https://ams-osram.com/ |
| ISIN: | AT0000A3EPA4 |
| WKN: | A118Z8 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange; BX, SIX, Vienna Stock Exchange (Vienna MTF) |
| EQS News ID: | 2084047 |

  

|     |     |
| --- | --- |
|     |
| End of Announcement | EQS News Service |

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2084047  11-Feb-2025 CET/CEST