Ams-osram Ag · SIX:AMS
Ams-osram — Q1 2025 Earnings Presentation
16 slides from Ams-osram's earnings presentation, Apr 30, 2025
Slide 1: First Quarter 2025 Earnings Call
Sense the power of light First Quarter 2025 Earnings Call Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 30 April 2025
Slide 2: Q1/25: Revenues and adj. EBITDA above mid-point of the guidance
Q1/25: Revenues and adj. EBITDA above mid-point of the guidance Auto semis in inventory correction, YoY decline basically due to exit of non-core portfolio All figures in EURm / % of revenues Group revenues EBITDA, EBITDA margin (adj.)2) ø EUR/USD 1.09 1.08 1.10 1.07 1.05 16.5% Like-for-like effects
Slide 3: Lamps & Systems: margin slightly up YoY despite lower revenue
Lamps & Systems: margin slightly up YoY despite lower revenue All figures in EURm / % of revenues L&S revenues EBITDA, EBITDA margin (adj.)1) -7% +2% -9% +22% 24.5% 22.5% 17.6% 16.0% 18.2% 268 275 233 249 223 60 61 50 39 37 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 − QoQ: adj. EBIT
Slide 4: OS: automotive still in inventory correction which weighs on margins
OS: automotive still in inventory correction which weighs on margins All figures in EURm / % of revenues OS revenues EBITDA, EBITDA margin (adj.)1) -3% -27% -4% -4% 22.7% 23.1% 19.3% 14.6% 14.7% 372 381 345 350 336 84 88 67 51 49 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 − QoQ: sea
Slide 5: CSA: adj. EBITDA margin up by 12% YoY on comparable revenue level
CSA: adj. EBITDA margin up by 12% YoY on comparable revenue level All figures in EURm / % of revenues CSA revenues EBITDA, EBITDA margin (adj.)1) +540% -42% +1% 21.3% -9% 17.9% 13.8% 9.4% 2.2% 266 258 55 233 224 236 48 32 21 5 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 − QoQ: decrea
Slide 6: Semiconductors: structural growth in consumer softens cycle in auto & I&M
Semiconductors: structural growth in consumer softens cycle in auto & I&M All figures in EURm / % of revenues Total semi revenues Automotive revenues I&M revenues Consumer revenues -1% -11% -9% +21% ~non-core for exit -6% -6% -11% -2% 647 253 251 240 578 596 608 234 225 230 571 210 206 185 184 170 1
Slide 7: Q1/25 – Stellantis trusts ams OSRAM’s cutting-edge forward lighting technologies
Q1/25 – Stellantis trusts ams OSRAM’s cutting-edge forward lighting technologies EVIYOS high-pixelated forward lighting solution ramping in the new Opel Grandland with integrated the module from Marelli EVIYOS with ~0.5 bn LTV* design win basis across multiple platforms 7 *cumulated, estimated proje
Slide 8: Q1/25 – customers trust ams OSRAM’s cutting-edge technologies
Q1/25 – customers trust ams OSRAM’s cutting-edge technologies Good Q1 design-win momentum and decisive technology contribution getting into the field Picture Automotive: Design-win with major EV maker for needed Hands-on Detection intelligent driving system Automotive: LED-driver design-win for Open
Slide 9: ‘Re-establish the Base’ implementation ahead of schedule
‘Re-establish the Base’ implementation ahead of schedule Run-rate savings of EUR ~135m reached by end of Q1/25 – 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 target-line - New set-up wor
Slide 10: FCF slightly negative in Q1 due to high interest and increase in inventories
FCF slightly negative in Q1 due to high interest and increase in inventories 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 Q1/24 Q2/24 Q3
Slide 11: Net result negative in Q1/25 due to interest expenses and auto & I&M cycle
Net result negative in Q1/25 due to interest expenses and auto & I&M cycle All figures in EURm / % of revenues Net results (adj.)1) EPS diluted (adj.)1) 2) Net results IFRS EPS diluted IFRS 2) CHF CHF Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 -0.34 -0.01 0.35 0.02 -0.22 -6.82 -0.41 0.23 -0.55 -0.78 Q1/24 Q2/24
Slide 12: Strong available liquidity (~EUR 1.2bn) after CB repayment of EUR 447m in March 2025
Strong available liquidity (~EUR 1.2bn) after CB repayment of EUR 447m in March 2025 Current capitalization Current debt maturity profile EURm, IFRS values as of March 2025 EURm, repayment amounts as of March 2025 €m, IFRS values as of December 2023 March 2025 IFRS book values EUR million Cash (573)
Slide 13: Balance-sheet: comprehensive deleveraging strategy
Balance-sheet: comprehensive deleveraging strategy Targeting net debt / adj. EBITDA <2 and annual interest cost below EUR 100m Profitability & FCF improvement through ‘Re-establish the Base’, Reducing debt materially 1. 5. design-win driven growth, and capex discipline (<8% of revenues) and refinanc
Slide 14: Summary Q1/25
Summary Q1/25 Highlights - Revenue and profitability above mid-point of the guidance - BtB improving across all business lines to at or above 1 - Convincing design-wins in the traditionally slower first quarter - Seamless execution of RtB program1) - Convertible bond 2025 EUR 447m repaid in March 20
Slide 15: Business outlook
Business outlook Q2 2025 Guidance FY 2025 comments − Revenue EUR 725m – 825m − Revenues: 2nd half-year stronger than 1st half-year due to product ramps and seasonality, without considering new tariff regime impact on end demand − Adj. EBITDA 18.5% +/- 1.5% − US tariffs: successfully mitigating most
Slide 16: Q&A
Q&A Aldo Kamper Rainer Irle Dr. Jürgen Rebel CEO CFO Head of IR 16