Osram raises its 2021 fiscal year performance guidance and comparable revenue increases by 10-14%
On January 26, OSRAM announced to increase its fiscal 2021 performance guidance. Although many markets have experienced recession due to the impact of the epidemic, Osram has continued to maintain good operating performance thanks to the Group's decisive crisis management and extensive response measures.
According to preliminary data, Osram achieved revenue of 840 million euros in the first quarter of fiscal 2021 (as of December 31), the same as the same period of the previous year; adjusted EBITDA was 162 million euros, an increase of 42%, which is equivalent to adjusted EBITDA profit The rate was 19.3%, compared with 13% in the same period last year; free cash flow was 50 million euros, showing a positive development trend.
Osram said that it initially planned to save 300 million euros through various performance plans in 2022, which will be achieved this fiscal year.
In view of current developments, the OSRAM Management Committee has decided to increase its performance guidance for the 2021 fiscal year. On a comparable basis, year-on-year sales will increase by 10-14%. Previously, Osram estimated that comparable sales would grow by 6-10%. The adjusted EBITDA margin is expected to be 12-15%, compared with the previous estimate of 9-11%. The free cash flow was originally expected to be basically the same or remain at the level of more than 10 million euros.
According to the latest estimates, free cash flow will be between 70 million and 130 million euros. Osram said that the above forecast is based on the assumption that the new crown epidemic and response measures will not have a significant impact on Osram's business or supply chain.
Earlier news showed that the two major business pillars of Osram's optoelectronic semiconductor business and automotive business have improved their performance in the fourth quarter of fiscal year 2020 and their profitability has improved.
Among them, the adjusted EBITDA profit margin of the optoelectronic semiconductor business reached 22%. At the same time, Osram also mentioned that the automotive market has rebounded significantly, and over the past few months, Osram's overall performance in major markets has been greatly improved. It is also worth mentioning that in the process of actively fighting the epidemic, Osram has released a series of new deep ultraviolet disinfection products based on traditional technology and UV LED technology, which can be used for air purification, water sterilization and surface sterilization.