Osram: third-quarter profit down, market still 'challenging'
(CercleFinance.com) - German lighting maker announced third-quarter results that were down, impacted by challenging market conditions and project delays at its customers.
The company, which began the sale of its luminaire unit yesterday, reported adjusted EBITA of 133 million euros for the quarter to end-June, down 41% from 174 million euros a year ago.
Revenue was flat on a comparable basis, at around 1 billion euros.
However, its shares were still up slightly after these results - rising 0.4% to 38.9 euros.
"In the absence of new negatives, the third-quarter results could be a further short-term relief for the shares but we think it's too early to get overly excited again," UBS commented.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company, which began the sale of its luminaire unit yesterday, reported adjusted EBITA of 133 million euros for the quarter to end-June, down 41% from 174 million euros a year ago.
Revenue was flat on a comparable basis, at around 1 billion euros.
However, its shares were still up slightly after these results - rising 0.4% to 38.9 euros.
"In the absence of new negatives, the third-quarter results could be a further short-term relief for the shares but we think it's too early to get overly excited again," UBS commented.
Copyright (c) 2018 CercleFinance.com. All rights reserved.