Slide 1: Third quarter 2023 results Earnings Call
Sensing is life Third quarter 2023 results Earnings Call Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 31 October 2023
Slide 2: Disclaimer Part 1
Disclaimer Part 1 IMPORTANT: The following applies to this document, which has been prepared by ams-OSRAM AG (the “Company” and together with its subsidiaries, the “Group”) and comprises (i) the slides for a presentation on the Company’s third quarter results for 2023, which include certain informat
Slide 3: Disclaimer Part 2
Disclaimer Part 2 No representation, warranty or undertaking, express or implied, is made by the Group, its shareholders or any of the Group’s, its shareholders’ or any of its or their respective directors, officers, employees or agents (“Representatives”) or any other person as to, and no reliance
Slide 4: Group revenues and adjusted EBIT meaningfully up in Q3
Group revenues and adjusted EBIT meaningfully up in Q3 All figures in EURm / % of revenues Total revenues EBIT, EBIT margin (adj.)1) ø EUR/USD 1.01 1.09 1.09 8% 8% 6% 1,213 120 +6% 904 91 +42% 851 71 50 1,093 Q3 2022 Q2 2023 Q3 2023 Q3 2022 Q2 2023 Q3 2023 Deconsolidation effects due to disposals −
Slide 5: Semiconductors segment: Significant sequential growth and improved profitability
Semiconductors segment: Significant sequential growth and improved profitability All figures in EURm / % of revenues Total revenues EBIT, EBIT margin (adj.)1) 7% 6% 2% 813 +8% 61 600 648 36 13 Q3 2022 Q2 2023 Q3 2023 Q3 2022 Q2 2023 Q3 2023 − Strong sequential growth driven by several end-markets, i
Slide 6: Semiconductors: Positive sequential development across markets
Semiconductors: Positive sequential development across markets Semiconductors segment, like-for-like Q3 development QoQ & YoY (excl. disposal effects), figures in EURm QoQ revenue development YoY revenue development +9% -35% +2% -26% 260 +8% 272 285 238 +6% 255 260 202 187 175 186 202 Q2 2023 186 Q3
Slide 7: Very strong design-win traction – Q3 update
Very strong design-win traction – Q3 update Selected examples of design-wins 5-year design-win volume to date Colored ambient lighting – iRGB (Automotive) >100 m€ First OEM SOPs with ALIYOS™ LED-on-foil technology 2025+ applications based on (Automotive) ALIYOS™ High Pixelated Forward Lighting (Eviy
Slide 8: Lamps & Systems: Solid profitability in spite of seasonality
Lamps & Systems: Solid profitability in spite of seasonality All figures in EURm / % of revenues Total revenues EBIT, EBIT margin (adj.)1) 15% 14% 400 8% 120 +2% 37 35 251 256 30 280 Q3 2022 Q2 2023 Q3 2023 Q3 2022 Q2 2023 Q3 2023 Deconsolidation effects due to disposals − Development in line with e
Slide 9: Mid-term target growth model re-confirmed: largest growth contribution from automotive
Mid-term target growth model re-confirmed: largest growth contribution from automotive, followed by mobile light sensors, then 8-inch sales & other contributors Strong design win base enables meaningful growth from new core portfolio in Semiconductors 2023-2026 CAGR from new base (predominantly driv
Slide 10: GP strongly improved sequentially, adjusted OPEX slightly reduced
GP strongly improved sequentially, adjusted OPEX slightly reduced All figures in EURm / % of revenues Gross profit, gross margin (adj.)1) R&D expenses (adj.)1) SG&A expenses (adj.)1) 29% 29% 28% 12% 12% 11% 11% 11% 10% 348 +11% 140 -9% 122 +5% 263 105 100 237 96 95 Q3 2022 Q2 2023 Q3 2023 Q3 2022 Q2
Slide 11: Adj. net result / Adj. EPS – Relatively stable development
Adj. net result / Adj. EPS – Relatively stable development All figures in EURm / EUR / CHF per share Q3 2023: 260.9m basic / 260.9m diluted shares Net result (adj.)1) EPS diluted (adj.)1) Net result IFRS 0.18 CHF 0.12 CHF 0.10 CHF 47 -55 -8% 31 0.18 -370 29 0.12 0.11 Q3 2022 Q2 2023 Q3 2023 Q3 2022
Slide 12: Continued strong Operating CF, but high Capex results in negative FCF
Continued strong Operating CF, but high Capex results in negative FCF All figures in EURm / % of revenues Operating Cash Flow Capital expenditures (Capex) Free Cash Flow (FCF) 27% 31% 29% 22% 12% 0% 8% 56 -14% 232 199 -95 151 -31 -263 -262 -63 Q3 2022 Q2 2023 Q3 2023 Q3 2022 Q2 2023 Q3 2023 Q3 2022
Slide 13: Status update of EUR 2.25bn financing plan
Status update of EUR 2.25bn financing plan Implementation well on track Overview of holistic EUR 2.25bn financing plan Status Equity EGM approved EUR 800mn rights offer − Discounted subscription rights offer of EUR 800mn, volume underwritten ✓ − On 20 October 2023, ams OSRAM’s shareholders approved
Slide 14: Business Outlook
Business Outlook Q4 2023 Guidance 2024 comments … 2026 target model − Revenue 850-950 m€ − Divesting/exiting − 6-10% revenue CAGR − Adj. EBIT 5-8% 300-400 m€ revenues − ~15% adj. EBIT − Based on assumption − H1 with continued macro − Further market recovery and EUR/USD 1.10 weakness, H2 improving de
Slide 15: Summary Q3 / 2023
Summary Q3 / 2023 Summary ▪ Solid Q3 revenue and adj. EBIT performance ▪ Strong Design-Win traction supporting structural growth model ▪ Solid Outlook for Q4 in a difficult market ▪ Mid-term target financial model re-confirmed with automotive largest growth driver, followed by mobile light sensors a
Slide 16: Q&A
Q&A Aldo Rainer Dr. Jürgen Kamper Irle Rebel CEO CFO Head of IR 16