Ams-osram Ag · SIX:AMS
Ams-osram — Q3 2025 Earnings Presentation
41 slides from Ams-osram's earnings presentation, Nov 18, 2025
Slide 1: Third Quarter 2025 Investor Presentation
Sense the power of light Third Quarter 2025 Investor Presentation Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 18 November 2025 1
Slide 2: Disclaimer
Disclaimer This presentation contains statements related to our future business and financial performance and future events or developments involving ams OSRAM which include management’s expectations, beliefs, intentions, and strategies concerning future events, such as revenue projections, market d
Slide 3: ams OSRAM at a glance
ams OSRAM at a glance A company in transition to structural growth in automotive, industrial/medical & selected consumer applications with 110+ years of combined company history Our segments & technologies Revenues by application1 & Market positions Semiconductors Lamps & Systems Automotive: − #1 Au
Slide 4: Our segments - overview of business units and applications
Our segments - overview of business units and applications AUT = Automotive, I&M = Industrial & Medical, CON = Consumer Opto Semiconductors (OS) CMOS Sensors & ASICs (CSA) Lamps & Systems FY24 ~1.4 bn€ ~1.0 bn€ ~1.0 bn€ AUT ~6% I&M ~26% Forward Lighting (FWL) High pixelated FWL In-Cabin Sensing 1D/2
Slide 5: Summary Q3/25
Summary Q3/25 Q3 2025 Highlights Q4 2025 Guidance Business update: − Revenue EUR 790m – 890m - Revenue and profitability above/at mid-point of the guidance - 9% growth like-for-like in the core semi-business − Adj. EBITDA 17.5% +/- 1.5% − Based on assumption EUR/USD 1.16 vs - Strong FCF with EUR 43m
Slide 6: Q3/25: Revenue above guided mid-point despite weaker USD
Q3/25: Revenue above guided mid-point despite weaker USD adj. EBITDA margin at the mid-point of the guidance All figures in EURm / % of revenues Group revenues EBITDA, EBITDA margin (adj.)2) ø EUR/USD 1.10 1.07 1.05 1.13 1.17 18,8% 19,5% 18,8% approx. +6% YoY in core portfolio1) 17,0% 16,4% -3% 0% +
Slide 7: Semis: 9% like-for-like growth of semi core portfolio
Semis: 9% like-for-like growth of semi core portfolio All figures in EURm / % of revenues Total semi revenue Automotive revenue I&M revenue Consumer revenue approx. +9% YoY -2% +2% in core portfolio1) -3% +4% -5% +22% +9% ~non-core +2% 647 608 637 234 240 239 230 571 583 225 229 224 210 206 184 171
Slide 8: Q3/25 Overview of Segment performance
Q3/25 Overview of Segment performance All figures in EURm / % of revenues OS CSA L&S -4% +2% -7% +6% +13% +13% Revenues 381 350 365 336 344 271 266 258 275 249 236 239 233 192 216 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 23,1% 22,9% 22,6% 23,6% 24,5%
Slide 9: ams OSRAM holds leading positions in its core Semiconductor & Lamps markets
ams OSRAM holds leading positions in its core Semiconductor & Lamps markets Leverage strong positions with focused core portfolio and commitment to Automotive, Industrial, Medical markets #2 in LED #1 in Light Sensors #1 in traditional Auto lamps/bulbs LED Suppliers by 2024 market share Light Sensor
Slide 10: ams OSRAM closed in on no.1 in LED according to TrendForce
ams OSRAM closed in on no.1 in LED according to TrendForce Continuously improving market position in difficult environment #2 in LED LED Suppliers by 2024 market share MARKET SHARE OF TOP 3 LED SUPPLIERS (Total market USD ~12.2bn; TrendForce) Nichia ams OSRAM Seoul Semiconductor 1. Nichia 12% 2. ams
Slide 11: Target model: Semiconductor business to grow 6% to 10% through cycle until 2027
Target model: Semiconductor business to grow 6% to 10% through cycle until 2027 Evolution of target operating model to focus on semi growth and reflect current market environment and semi-cycle Growth model Over-the-cycle targets Key semi growth elements Semiconductor - Revenues ~200 m€ non-core 1.
Slide 12: Semiconductor growth model: structural growth drivers for the next 5 years
Semiconductor growth model: structural growth drivers for the next 5 years Design wins Rev. 2024 Megatrends Principle Growth drivers Automotive: - Electrification - Content per vehicle growth (large ~40% - ADAS & autonomous driving contribution) - Convenience - Unit growth (small contribution) 2024:
Slide 13: Q3/25 – constantly winning new business in the core semiconductor business
Q3/25 – constantly winning new business in the core semiconductor business On track to secure approx. EUR 5 bn of new semiconductor design wins in 2025 EUR 4 bn LTV* in the first 9 months of 2025 Design-wins at important OEMs Automotive Industry / Medical Consumer Significant design- wins in display
Slide 14: Technology leadership in Infrared emitter technologies
Technology leadership in Infrared emitter technologies Important base technology for existing and future application areas – triple digit million revenue contribution already Near-infrared emitters (808nm – 1130nm) Key Applications Driver Monitoring (DMS) LiDAR Interior Monitoring (IMS) UV1 Visible
Slide 15: Technology Leadership in direct Time-of-Flight sensing
Technology Leadership in direct Time-of-Flight sensing The fastest and smallest direct Time-of-Flight (dToF) sensor technology available today direct Time-of-Flight sensing Key Applications 2ns Pulse Round Trip Single- & multi-zone Gesture recognition Smartphones Building automation dToF module Edge
Slide 16: ams OSRAM brings professional ambient light detection to Consumer devices
ams OSRAM brings professional ambient light detection to Consumer devices Flicker detection sensor & RGB color sensor are integrated into Honor new flagship models • Honor’s Magic 8 flagship models feature ams OSRAM’s latest HDR Flicker Detection sensor, enabling real-time light source analysis • Co
Slide 17: ‘Re-establish the Base’ implementation is very well ahead of schedule
‘Re-establish the Base’ implementation is very well ahead of schedule Run rate savings of EUR ~185m reached by end of Q3/25 – upsized total target EUR ~225m by end of 2026 Run rate savings at end of period vs. 2023 reference1) Implementation status End-24: 250 Set-up & Infrastructure ~225 target-lin
Slide 18: Strong available liquidity (~EUR 1.65bn) based on diversified mix of debt instruments
Strong available liquidity (~EUR 1.65bn) based on diversified mix of debt instruments Current capitalization Current debt maturity profile €m, IFRS values as of September 2025 €m, repayment amounts as of September 2025 Private Placement of additional USD 350m and €m, IFRS values as of December 2023
Slide 19: Status update comprehensive balance-sheet deleveraging strategy
Status update comprehensive balance-sheet deleveraging strategy Targeting net debt / adj. EBITDA <2 and annual interest cost below EUR 100m Status Profitability & FCF improvement through ‘Re-establish Reducing debt materially 1. the Base’, design-win driven growth, and capex Well 5. and refinancing
Slide 20: Well diversified revenue streams by end market and healthy customer split
Well diversified revenue streams by end market and healthy customer split Strong exposure to structural growth markets and very balanced customer portfolio Top customers split Group end market split Semi end market split (FY 2024) (FY 2024) (FY 2024) Consumer Automotive Consumer Automotive 30% Top 3
Slide 21: Well diversified revenue streams by region
Well diversified revenue streams by region Direct tariff impact is under control via local production in the US and supply chain re-routing potentials Group revenues by region Semi revenues by region (FY 2024) (FY 2024) Americas 10% APAC Americas 25% EMEA 65% 21% 50% APAC L&S revenues by region (FY
Slide 22: Growth drivers
Sense the power of light Growth drivers 22
Slide 23: Offering full technology range and innovation leadership in automotive emitters and light sensors
Offering full technology range and innovation leadership in automotive emitters and light sensors Leading Positions in Automotive Semiconductor Sub-Segments #1 in Automotive Emitters #1 in Automotive Light Sensors Auto LED suppliers by 2024 market share Auto Light Sensor suppliers by 2024 market (To
Slide 24: ams OSRAM automotive semiconductor content growth
ams OSRAM automotive semiconductor content growth Driven by safety, convenience and digitalization Display Head Up Display / In Cabin Backlighting Projection Sensing Average € across all vehicle classes ~60€ Ambient Static forward Battery lighting lighting management ~20€ FY2024: ~1bn m€ Power/Analo
Slide 25: I&M growth driven by technology leadership & megatrends in key applications
I&M growth driven by technology leadership & megatrends in key applications Business in relevant key applications to grow with mid- to high single digit percentage CAGR long-term Key Application fields Position Business drivers 2025 to 2027 − Ramp of design-wins Medical Imaging & − Market leader in
Slide 26: ams OSRAM with key portfolio to benefit from nascent robotics megatrend
ams OSRAM with key portfolio to benefit from nascent robotics megatrend Best-in-class portfolio for making machines smarter, more autonomous and more effective in HMI BIDOS Family NIR emitter + OSLON sensor Black/ P1616 SFH4253 + SFH5721 Capacitive sensor AS8579 Global Shutter: Mira ALS/Flicker sens
Slide 27: Consumer growth through technology leadership in spectral sensing & ToF
Consumer growth through technology leadership in spectral sensing & ToF Growth of consumer application business with mid- to high single digit percentage CAGR long-term Key Application fields Technology Business drivers 2025 to 2027 − Intensity or ToF-based sensors for touch Display Proximity displa
Slide 28: ams OSRAM’s spectral ambient light sensing makes the difference
ams OSRAM’s spectral ambient light sensing makes the difference ams OSRAM sensors enable superior camera performance in almost all premium smartphones Top Smartphones by Camera score Autofocus: “Fast and accurate autofocus, Smartphone Model Launch Date Camera score even in challenging light Huawei P
Slide 29: Strong and stable profit contributor with excellent position in lamps business
Strong and stable profit contributor with excellent position in lamps business AMSP is covering automotive, entertainment and industry applications End market split in L&S Automotive Automotive lamps ~80% LED replacement Fixtures & Traditional LED & Laser modules lamps car accessories lamps (e.g. XL
Slide 30: ESG commitments
Sense the power of light ESG commitments 30
Slide 31: Creating sustainable value and improving lives with innovative light and sensor solutions
Creating sustainable value and improving lives with innovative light and sensor solutions ESG update: Sustainability integral part of the company strategy ESG achievements ESG goal: Carbon neutrality by 2030 − Comprehensive reporting of carbon emissions, including − Group to be carbon neutral (Scope
Slide 32: ESG ratings: Our committment to sustainability pays off
ESG ratings: Our committment to sustainability pays off Keep strong ratings within S&P Global CSA 32
Slide 33: Details on Financials
Sense the power of light Details on Financials 33
Slide 34: Group: adj. Gross profit and adj. operating expenses
Group: adj. Gross profit and adj. operating expenses All figures in EURm / % of revenues Gross profit (adj.)1) R&D expenses (adj.)1) SG&A expenses (adj.)1) OPEX (adj.)1) 29,7% 27,1% 28,4% 28,9% 29,7% 9,3% 8,4% 11,0% 9,9% 10,2% 11,2% 12,0% 10,6% 10,6% 10,7% 20,4% 20,3% 21,3% 20,1% 19,0% -3% +6% +13%
Slide 35: Group: adj. EBIT and adj. Depreciation & Amortization
Group: adj. EBIT and adj. Depreciation & Amortization All figures in EURm / % of revenues EBIT, EBIT margin (adj.)2) D&A (adj.)2) EBITDA, EBITDA margin (adj.)2) 18,8% 18,8% 19,5% 10,7% 17,0% 16,4% 9,3% 8,8% +0% 6,8% 7,1% +14% 9,5% 10,2% 9,9% 9,4% 8,8% +11% +34% -11% -3% 166 150 166 135 145 82 91 84
Slide 36: Group: IFRS EBITDA and adj. EBITDA
Group: IFRS EBITDA and adj. EBITDA Q3 2025, All figures in EURm 12 -16 10 5 3 0 152 166 EBITDA IFRS Transformation microLED M&A-related costs Share-based Result from the sale Result from EBITDA Adj. costs compensation of businesses Equity Investments costs − EBITDA Adj. best reflects underlying prof
Slide 37: Group: IFRS EBIT and adj. EBIT
Group: IFRS EBIT and adj. EBIT Q3 2025, All figures in EURm 18 5 3 0 10 21 -2 91 37 EBIT IFRS Transformation microLED M&A-related costs Share-based Result from the sale Result from Asset EBIT Adj. costs compensation of businesses Equity Investments restructuring costs − EBIT Adj. best reflects under
Slide 38: Q3/25: adjusted net result further improved
Q3/25: adjusted net result further improved All figures in EURm / % of revenues Net results (adj.)1) EPS diluted (adj.)1) 2) Net results IFRS EPS diluted IFRS 2) CHF CHF 0.35 0.02 -0.22 0.17 0.25 0.23 -0.55 -0.78 0.01 -0.26 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q3/24 Q4/24 Q1/2
Slide 39: Operational FCF (excl. pre-payments) strongly improved y-o-y
Operational FCF (excl. pre-payments) strongly improved y-o-y All figures in EURm / % of revenues Operating Cash Flow (OCF) Free Cash Flow (FCF)1) (including net interest paid) Cash Flow related to Capex Inflow from Divestments incl. divestments, incl. net interest paid Q3/24 Q4/24 Q1/25 Q2/25 Q3/25
Slide 40: Working Capital
Working Capital All figures in EURm Working Capital Inventories -1% -8% -7% +4% 833 843 809 830 834 745 775 730 691 720 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Trade Receivables Trade Payables -0% +27% -12% 496 -1% 505 472 392 391 441 450 446 356 307 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25
Slide 41: ams OSRAM Investor Relations
ams OSRAM Investor Relations Dr. Jürgen Rebel Investor Relations contact SVP & Head of Investor Relations juergen.rebel@ams-osram.com Premstaetten Office + 43 3136 500-0 + 43 3136 500-0 Internet https://ams-osram.com/about-us/investor-relations Email investor@ams-osram.com Juliana Baron Senior Direc