Osram: efficiency progress 'faster than planned'

(CercleFinance.com) - After a challenging fiscal year in 2019, Osram is making efficiency progress faster than expected, the German lighting group said on Tuesday.


Thanks to the increased efficiency and the initiated measures, the company is increasing its savings target from its original target of 220 million euros to 300 million euros by 2022.

Osram - which is being acquired by Austrian sensor specialist ams - said that it is showing a "robust start" to the current fiscal year.

In addition to making savings, Osram said that it has already begun to streamline its product portfolio, and intends to make targeted investments in research and development.

However, its share remains down 0.4% in Frankfurt after all these announcements were made.

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