Osram's revenue for the first quarter of fiscal 2017 reached $7.3 billion
Osram's fiscal year 2017 fiscal year first quarter earnings report: First quarter revenue increased by nearly 8% compared with the same period of the previous year; adjusted EBITDA 18.0%; Osram's FY2017 outlook was confirmed. Osram CEO Olaf Berlien said that in the first quarter of fiscal 2017, OSRAM continued its growth last year and laid a solid foundation for the rest of the fiscal year. Compared with the previous year, growth has further accelerated. Product demand remains strong, indicating that our strategy is working and that OSRAM is in the right direction. OSRAM ushered in a good start in the 2017 fiscal year, with accelerated growth in the first quarter. Affected by the adjusted portfolio and currency, the first quarter of 2017 fiscal year (three months ended December 31) revenue increased by nearly 8% compared with the same period of the previous year, and also increased by about 5% over the same period of the previous year. 991 million euros (equivalent to about 7.303 billion yuan). After the adjustment of special items, the profit before interest, tax, depreciation and amortization increased by about 5% year-on-year to 179 million euros (equivalent to approximately RMB 1.319 billion), which is 18% before the adjusted EBITDA. In the first quarter of fiscal 2017, net income from continuing operations was 92 million euros (equivalent to approximately 678 million yuan). It includes tens of millions of euros in proceeds from the sale of Korean real estate. A year ago, Osram sold Felco shares for about 270 million euros. Due to the adjustment of these two one-off items, the net income in the first quarter of fiscal 2017 increased. Based on the results of the first three months of the 2017 fiscal year and current market developments, OSRAM's 2017 fiscal year outlook is confirmed. Unit: Million Euros Osram's main financial data for the first quarter of fiscal 2017 The LED component business (optoelectronics or OS) achieved growth, with revenues up 15% over the same period last year, with the growth of the automotive and infrared businesses particularly strong. The 26.2% EBITDA margin is again at a good level. The new LED chip factory in Colin, Malaysia will continue to build as planned. Benefiting from the continued strong demand of the automotive industry, the first quarter revenue of special lighting businesses, including automotive lighting and professional industrial applications, increased by more than 8% compared with the same period last year. Adjusted profit before interest, taxes, depreciation and amortization increased slightly year-on-year to 16.3%. In addition, OSRAM was recently awarded the title of 2016 Automotive Lighting Brand in China. As for the lighting solutions and systems business, the main products are lighting and lighting systems. Its revenue increased by about 2% compared with the same period of the previous year. The adjusted profit margin before interest, taxes, depreciation and amortization was 0.5%. In the first quarter, OSRAM agreed to buy a 47.5% stake in Tvilight, a Dutch company that provides sensor technology and intelligent lighting management software for smart city solutions. In addition, in view of the agreement to sell, the general lighting business (Ledvance) has been classified as a non-continuous business. The net income of the discontinuous business in the first quarter was 6 million euros (equivalent to approximately RMB 44.218 million). Osram believes that the Ledvance sale will be completed in FY2017. Outlook for 2017 fiscal year In fiscal year 2017, OSRAM management expects revenue to grow 5% to 7% over the 2016 fiscal year, and the adjusted profit margin before interest, taxes, depreciation and amortization is expected to be no less than 16%. If the 2016 stock repurchase program continues to proceed as planned, diluted earnings per share are expected to be between €2.35 and €2.65. The Board of Directors is confident in the medium-term prospects of OSRAM and plans to achieve a dividend of not less than 1.00 Euro per share in 2017. Note: All figures in the statement include only continuous operations, and therefore do not include the general lighting business that Osram agreed to sell in July 2016.
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