Osram: shares recover after last week's disappointment
(CercleFinance.com) - Shares in Osram were up on Thursday after the German lighting group said it wants to accelerate its technological shift and explore future markets.
In the second quarter of 2017/2018 to 31 March, Osram only generated "slight growth" because of a challenging environment stemming from various factors.
In the report, Osram said revenue was up 1.8% on a comparable basis at 1.01 billion euros, while operating profit (EBITDA) reached 153 million dollars, which was below the figure reported a year earlier.
Last week, Osram cut its outlook for the current fiscal year, forecasting comparable sales growth of 3%-to-5% compared to previous target range of 5.5%-7.5%.
CEO Olaf Berlien today said that the group's long-term growth trend remains intact, with the reorganization and technological shift ongoing.
The Munich-based company has chosen a strategy, under which it is now focusing on semiconductor-based high-tech products and acquiring smaller companies in order to expand its technology portfolio.
These comments appear to have been welcomed by the market today, as the Osram share is currently up almost 4% in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In the second quarter of 2017/2018 to 31 March, Osram only generated "slight growth" because of a challenging environment stemming from various factors.
In the report, Osram said revenue was up 1.8% on a comparable basis at 1.01 billion euros, while operating profit (EBITDA) reached 153 million dollars, which was below the figure reported a year earlier.
Last week, Osram cut its outlook for the current fiscal year, forecasting comparable sales growth of 3%-to-5% compared to previous target range of 5.5%-7.5%.
CEO Olaf Berlien today said that the group's long-term growth trend remains intact, with the reorganization and technological shift ongoing.
The Munich-based company has chosen a strategy, under which it is now focusing on semiconductor-based high-tech products and acquiring smaller companies in order to expand its technology portfolio.
These comments appear to have been welcomed by the market today, as the Osram share is currently up almost 4% in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.