Slide 1: Fourth Quarter Fiscal Year 2024 Results Earnings Call
Sense the power of light Fourth Quarter Fiscal Year 2024 Results Earnings Call Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 11 February 2025
Slide 2: Q4/24: Revenues and adj. EBITDA above mid-point of the guidance
Q4/24: Revenues and adj. EBITDA above mid-point of the guidance Auto lamps with strong aftermarket season, solid auto semi revenues compensated weak I&M semi business All figures in EURm / % of revenues Group revenues EBITDA, EBITDA margin (adj.)2) ø EUR/USD 1.08 1.09 1.08 1.10 1.07 16.5% 14.6% 18.8
Slide 3: Lamps & Systems: strong aftermarket in Q4, continued weakness in industrial
Lamps & Systems: strong aftermarket in Q4, continued weakness in industrial All figures in EURm / % of revenues L&S revenues EBITDA, EBITDA margin (adj.)1) -1% +18% +4% +35% 22.5% 18.2% 17.4% 17.6% 16.0% 279 268 275 223 233 60 48 50 39 37 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 −
Slide 4: OS: automotive stable, I&M very weak, adj. EBITDA in line w/ fall-through
OS: automotive stable, I&M very weak, adj. EBITDA in line w/ fall-through All figures in EURm / % of revenues OS revenues EBITDA, EBITDA margin (adj.)1) -4% -26% -8% -42% 22.7% 23.1% 19.0% 19.3% 14.6% 365 372 381 345 350 84 88 69 67 51 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 - Qo
Slide 5: CSA: solid performance in consumer & ramp of sensors in automotive
CSA: solid performance in consumer & ramp of sensors in automotive All figures in EURm / % of revenues CSA revenues EBITDA, EBITDA margin (adj.)1) +38% +15% -2% 21.3% -3% 17.9% 15.3% 9.4% 262 266 258 2.2% 55 233 224 48 40 21 5 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 - QoQ: slight
Slide 6: Semiconductors: structural growth in consumer compensates cyclical weakness in automotive and I&M
Semiconductors: structural growth in consumer compensates cyclical weakness in automotive and I&M All figures in EURm / % of revenues Total semi revenues Automotive revenues I&M revenues Consumer revenues -14% -3% +21% -11% +3% -6% ~non-core for exit -9% -14% 279 629 647 608 253 251 234 240 578 596
Slide 7: Free Cash Flow positive in Q4 and FY24
Free Cash Flow positive in Q4 and FY24 All figures in EURm / % of revenues Free Cash Flow (FCF)1) incl. divestments, incl. net interest paid 188 Q4/23 Q1/24 Q2/24 12 FY 23 2 -60 FY 24 -125 -119 Q3/24 Q4/24 -332 1) Free Cash Flow (FCF) defined as Operating CF (incl. net interest paid) – Capex + proce
Slide 8: FY24 achievements
FY24 achievements Staying on course in executing the strategic efficiency program RtB in spite of major change in microLED strategy 1 Revenue growth of ~7% yoy in the semi core portfolio 2 ‘Re-establish- the Base’ (RtB) savings implementation ahead of plan & upsized 3 Non-core semiconductor portfoli
Slide 9: FY24 – new consumer ramps compensated slow industrial & automotive business
FY24 – new consumer ramps compensated slow industrial & automotive business Growth in the core semi-portfolio, decline in reported revenue due to L&S deconsolidation & non-core semi portfolio exit Group Revenues Lamps & Systems2) Semiconductors2) -1% YoY like-for-like1) +0% 3,590 3,437 2,426 2,429 1
Slide 10: FY24 – adj. EBITDA margin stable
FY24 – adj. EBITDA margin stable All figures in EURm / % of revenues adj. EBITDA, EBITDA margin 1) adj. EBIT, EBIT margin 1) -5% 16.8% 16.8% +3% 604 575 233 241 (6.5%) (7.0%) FY 23 FY 24 FY 23 FY 24 − Adj. EBITDA: market weakness offset improvements due to ‘Re-establish the Base’, lower cost base an
Slide 11: FY24 - adj. net result reduced yoy, IFRS net result improved but not yet positive
FY24 - adj. net result reduced yoy, IFRS net result improved but not yet positive All figures in EURm / EUR per share Net result (adj.)1) EPS diluted (adj.)1) 2) Net result IFRS EPS diluted IFRS 2) CHF 1.53 0.03 50 1.61 CHF -49.40 -7.56 3 0.03 FY23 FY24 FY23 FY24 FY23 FY24 -7.94 FY23 FY24 -785 -1,61
Slide 12: 'Re-establish the Base' implementation ahead of schedule
‘Re-establish the Base’ implementation ahead of schedule Run-rate savings of EUR ~110m reached by end of FY24 – 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 - New set-up working target-l
Slide 13: 'RtB' reduces OPEX by -10%, keeps Gross Margin stable against headwinds
‘RtB’ reduces OPEX by -10%, keeps Gross Margin stable against headwinds All figures in EURm / % of revenues Gross profit (adj.)1) R&D expenses (adj.)1) SG&A expenses (adj.)1) 28.7% 28.7% 11.4% 10.8% 11.9% 11.4% -5% -9% -8% 1,031 984 408 370 426 392 FY23 FY24 FY23 FY24 FY23 FY24 − Adj. gross profit/m
Slide 14: Strong available liquidity and balanced maturity profile with diversified funding mix
Strong available liquidity and balanced maturity profile with diversified funding mix Current capitalization Current debt maturity profile €m, IFRS values as of December 2024 €m, repayment amounts as of December 2024 €m, IFRS values as of December 2023 December 2024 IFRS book values EUR million Cash
Slide 15: FY 2024 – continued design-win traction underpinning structural growth model
FY 2024 – continued design-win traction underpinning structural growth model Q4 design-wins >1 bn EUR, across the board, strong traction with automotive in China Senlor ICs (Industrial) triple digit m€ Colored ambient lighting – iRGB / RGB (Automotive) dToF Sensors (Industrial) triple digit m€ doubl
Slide 16: 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 + sensor OSLON SFH4253 + SFH5721 Black/ P1616 Capacitive sensor AS8579 Global Shutter: Mira ALS/Flicker sens
Slide 17: ams OSRAM wins the German Future Award 2024
ams OSRAM wins the German Future Award 2024 ams OSRAM ideally positioned for emerging pixelated headlight market ams OSRAM wins the German Future Award 2024 Innovation Realized application Potential applications Awarded Technology 25k pixel ‘digital – Microscopic LED pixel headlight’ EVIYOSTM − Micr
Slide 18: Summary Q4 & FY2024
Summary Q4 & FY2024 Highlights Q4: - revenue and profitability above mid-point of the guidance - FCF1) positive FY24: - FCF1) positive with EUR 12m - FY24 growth in the core semi-conductor portfolio of approx. 7%, driven by ramp of new consumer products - FY24 reported revenues -5% due to L&S de-con
Slide 19: Business outlook
Business outlook Q1 2025 Guidance FY 2025 comments − Revenues: 2nd half-year much stronger than 1st half-year due to − Revenue EUR 750m – 850m product ramps and some market normalization − Adj. EBITDA 16% +/- 1.5% low double digit Seasonal & small cyclical uptick % increase BtB improving in Q1/25
Slide 20: Q&A
Q&A Aldo Kamper Rainer Irle Dr. Jürgen Rebel CEO CFO Head of IR 20