Slide 1: First Quarter 2025 Investor Presentation
Sense the power of light First Quarter 2025 Investor Presentation Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 30 April 2025 1
Slide 2: 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 3: 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 4: 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(E) market share Light Sen
Slide 5: 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 6: 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 7: 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 8: Q1/25 Overview of Segment performance
Q1/25 Overview of Segment performance All figures in EURm / % of revenues OS CSA L&S -3% +1% -7% -4% -9% -9% Revenues 372 381 275 345 350 336 266 258 268 233 224 236 233 249 223 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 -27% +2% +540% +22% EBITDA (adj.
Slide 9: 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 10: '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 11: 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 12: 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 13: 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 14: 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 15: 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 16: 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 17: ESG commitments
Sense the power of light ESG commitments 17
Slide 18: 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: climate strategy, carbon neutrality goal, ESG Committee ESG achievements ESG goal: Carbon neutrality by 2030 − Comprehensive reporting of carbon emissions, including − Group to be carbon neutral (Sc
Slide 19: ESG ratings: Our commitment to sustainability pays off
ESG ratings: Our committment to sustainability pays off Improvement of CDP and S&P Institution Rating Comment B (Management) Climate Change CDP B (Management) Water Security Improvement from gold to platinum ecovadis Platinum among the top 1% of companies assessed 17.6 (low risk) ESG Risk Rating imp
Slide 20: Growth drivers
Sense the power of light Growth drivers 20
Slide 21: 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(E) market share Auto Light Sensor suppliers by 2024(E) mark
Slide 22: 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 23: 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 23 *cumulated, estimated proj
Slide 24: 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 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 SFH4253 + SFH5721 Black/ P1616 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: Details on Financials
Sense the power of light Details on Financials 30
Slide 31: Group: adj. gross profit relatively stable despite of various challenges
Group: adj. gross profit relatively stable despite of various challenges All figures in EURm / % of revenues Gross profit (adj.)1) R&D expenses (adj.)1) SG&A expenses (adj.)1) OPEX (adj.)1) 28.4% 29.7% 29.7% 27.1% 28.4% 13.5% 12.2% 9.3% 8.4% 11.0% 11.0% 11.6% 11.2% 12.0% 10.6% 23.3% 22.8% 20.4% 20.3
Slide 32: Group adj. Depreciation & Amortization and adj. EBITDA
Group adj. Depreciation & Amortization and adj. EBITDA All figures in EURm EBIT (adj.) 1) D&A (adj.) 1) EBITDA (adj.)1) -4% +9% -10% -14% +32% -3% 166 150 124 135 135 80 84 90 79 77 82 56 60 58 44 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 1) Excluding
Slide 33: Group adj. Depreciation & Amortization and adj. EBITDA
Group adj. Depreciation & Amortization and adj. EBITDA Q1 2025, All figures in EURm 1 6 -0.2 -0.0 32 3 135 93 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 re
Slide 34: Group adj. Depreciation & Amortization and adj. EBIT
Group adj. Depreciation & Amortization and adj. EBIT Q1 2025, All figures in EURm 17 6 -0.2 -0.0 37 -2 1 58 -0.8 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 −
Slide 35: 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 36: 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 37: Working Capital
Working Capital All figures in EURm Working Capital Inventories +12% +10% -11% +3% 814 843 809 830 833 745 752 730 665 605 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Trade Receivables Trade Payables -30% -28% -26% 511 -7% 496 598 566 505 472 392 441 357 356 Q1/24 Q2/24 Q3/24 Q4/24 Q
Slide 38: 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