ams OSRAM posts solid Q2 results at the midpoint of the guidance despite currency headwinds and executes first steps of its accelerated deleveraging plan

Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
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ams OSRAM posts solid Q2 results at the midpoint of the guidance despite currency headwinds and executes first steps of its accelerated deleveraging plan​​​​​​​

Business update:

• Q2/25: revenues EUR 775 m, 18.8 % adj. EBITDA margin, at the midpoint of guidance
• Q2/25: realized run-rate savings of approx. EUR 160 m from ‘Re-establish the Base’ (RtB) program
• Q2/25: FCF (incl. net interest paid) at EUR -14 m
• Q3/25: revenue EUR 790 m – 890 m, 19.5 % +/-1.5 % adj. EBITDA, at EUR/USD 1.16 expected
• Strong design-win momentum in H1/2025 with approx. EUR 2.5 bn in new semi business
• FY25: FCF outlook of above EUR 100 m confirmed

Deleveraging plan and refinancing:

• Revolving Credit Facility (RCF) extended by another year
• Private placement of equivalent EUR 500 m principal amount of EUR and USD senior notes due in 2029 to pre-finance approx. EUR 350 m of potential OSRAM minority put option bulk exercises and buy back approx. EUR 150 m 2027 convertible notes (subject to market conditions)
• Sale of Entertainment & Industrial Lamps business for EUR 114 m announced, first asset sale under the deleveraging plan

Premstaetten, Austria, and Munich, Germany (31 July 2025) -- ams OSRAM delivers 18.8 % adj. EBITDA at revenues of EUR 775 m in Q2, confirms 2025 FCF outlook above EUR 100 m and executes first steps of its accelerated deleveraging plan​​​​​​​

“We showed a solid performance in Q2 in a still difficult market with good profitability on the back of rapid implementation of ‘Re-establish-the Base’ and preproduction for the second half, as well as a very good design-win momentum securing future semiconductor business. We continue to expect a stronger second half although the weaker US Dollar weighs on topline results and tariffs discussions instigate continuously uncertainty.” said Aldo Kamper, CEO of ams OSRAM.

“Our plan to accelerate our balance sheet deleveraging is unfolding. The extension of the Revolving Credit Facility, the private placements of additional 2029 senior notes to prefinance long-term any bulk exercises of OSRAM minority put options and to re-purchase 2027 convertible bonds, but especially the first disposal for reducing leverage show that we keep track in executing our finance milestones as well.” said Rainer Irle, CFO of ams OSRAM.

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