Osram: fiscal year 2018 revenue only up 'slightly'
(CercleFinance.com) - German lighting group Osram said its revenue increased only "slightly" on a comparable basis in fiscal 2018, burdened by economic challenges and a difficult market environment.
On a comparable basis, i.e. adjusted for portfolio and currency effects, the company's revenue rose by just 2% to 4.1 billion euros in the 12 months to September.
On a reported basis, revenue was flat, while adjusted EBITDA fell by 13% to 605 million euros, the group said.
Citing uncertainties - particularly in the automotive market - Osram said it expects comparable revenue to be flat or increase moderately (0 to 3%) in the new fiscal year.
Osram said it plans to increase its focus on digitalisation - particularly on photonics and optical technologies beyond lighting.
However, the announcements did not seem to convince investors. The Frankfurt-listed shares were down 1.7% in early afternoon trading this Wednesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
On a comparable basis, i.e. adjusted for portfolio and currency effects, the company's revenue rose by just 2% to 4.1 billion euros in the 12 months to September.
On a reported basis, revenue was flat, while adjusted EBITDA fell by 13% to 605 million euros, the group said.
Citing uncertainties - particularly in the automotive market - Osram said it expects comparable revenue to be flat or increase moderately (0 to 3%) in the new fiscal year.
Osram said it plans to increase its focus on digitalisation - particularly on photonics and optical technologies beyond lighting.
However, the announcements did not seem to convince investors. The Frankfurt-listed shares were down 1.7% in early afternoon trading this Wednesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.