Ams-osram Ag · SIX:AMS
Ams-osram — Q2 2025 Earnings Presentation
21 slides from Ams-osram's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Earnings Call
Sense the power of light Second Quarter 2025 Earnings Call Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 31 July 2025
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: Q2/25: Revenues and adj. EBITDA margin at the mid-point of the guidance
Q2/25: Revenues and adj. EBITDA margin at the mid-point of the guidance QoQ & YoY decline primarily due to unfavorable FX rate effects and portfolio changes All figures in EURm / % of revenues Group revenues EBITDA, EBITDA margin (adj.)2) ø EUR/USD 1.08 1.10 1.07 1.05 1.13 18.8% 18.8% approx. +2% Yo
Slide 4: Lamps & Systems: auto aftermarket inventory correction & seasonal decline
Lamps & Systems: auto aftermarket inventory correction & seasonal decline All figures in EURm / % of revenues L&S revenues EBITDA, EBITDA margin (adj.)1) -14% -23% 24.5% 17.6% 16.0% 18.2% 15.2% -26% -52% 275 233 249 223 192 61 50 39 37 29 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 −
Slide 5: OS: significant margin improvement and moderate recovery in revenue
OS: significant margin improvement and moderate recovery in revenue All figures in EURm / % of revenues OS revenues EBITDA, EBITDA margin (adj.)1) -8% -6% +2% +61% 22.7% 23.1% 22.9% 14.6% 14.7% 372 381 350 336 344 84 88 79 51 49 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 − QoQ: reve
Slide 6: CSA: Revenue and margin improved driven by consumer biz & cost savings
CSA: Revenue and margin improved driven by consumer biz & cost savings All figures in EURm / % of revenues CSA revenues EBITDA, EBITDA margin (adj.)1) +105% +34% +7% 21.3% +1% 17.9% 18.0% 13.8% 9.4% 266 258 55 224 236 239 48 43 32 21 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 − QoQ:
Slide 7: Semis: slightly down YoY due to Auto inventory correction & non-core portfolio exit
Semis: slightly down YoY due to Auto inventory correction & non-core portfolio exit All figures in EURm / % of revenues Total semi revenue Automotive revenue I&M revenue Consumer revenue approx. +7% YoY -2% -9% in core portfolio1) +15% -8% +2% +2% -11% ~non-core +21% 647 251 240 596 608 583 234 225
Slide 8: H1/25 – continued design-win traction underpinning structural growth model
H1/25 – continued design-win traction underpinning structural growth model EUR 2.5 bn design-wins in semiconductor business across the board in the first 6 months of 2025 EUR ~2.5 bn LTV* Continuous design-wins with global car makers Automotive Industry / Medical Consumer design-wins with Chinese Dr
Slide 9: Q2/25 – NIO trusts ams OSRAM's cutting-edge forward lighting technologies
Q2/25 – NIO trusts ams OSRAM’s cutting-edge forward lighting technologies EVIYOS high-pixelated forward lighting solution ramping in the NIO ET9*, a premium electric executive sedan EVIYOS with ~EUR 0.5 bn LTV* design win basis across multiple platforms world-wide 9 * with integrated the module from
Slide 10: Q2/25 – ams OSRAM receives OPPO 2025 "Best Delivery Award"
Q2/25 – ams OSRAM receives OPPO 2025 “Best Delivery Award” ams OSRAM is key optical sensor supplier to OPPO Exceptional product quality and resilient supply chain management by ams OSRAM enabled OPPO to achieve 100% on-time delivery over the past year. 10
Slide 11: 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 12: Traditional lamps: new product 'connected emergency warning light' launched
Traditional lamps: new product ‘connected emergency warning light‘ launched Connected V16 warning lights will be legally required in registered cars in Spain from 1 st January 2026 onwards o The LEDguardian® ROAD FLARE Signal V16 IoT eliminates the need to set-up a warning triangle which can quickly
Slide 13: 'Re-establish the Base' implementation is months ahead of schedule
‘Re-establish the Base’ implementation is 6 months ahead of schedule Run rate savings of EUR ~160m reached by end of Q2/25 – 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 - Ne
Slide 14: 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 15: Sale of Entertainment and Industry Lamps Business to Ushio Inc.
Sale of Entertainment and Industry Lamps Business to Ushio Inc. First sale of a business as part of the accelerated deleveraging plan - Entertainment & Industry (ENI) segment holds strong market positions in traditional lamps for entertainment and industry applications. - The product portfolio range
Slide 16: Available liquidity (~EUR 1.6bn incl. tap) based on diversified debt instrument mix
Available liquidity (~EUR 1.6bn incl. tap) based on diversified debt instrument mix Current capitalization Current debt maturity profile €m, IFRS values as of June 2025 €m, repayment amounts as of June 2025 (incl. senior notes tap from July) €m, IFRS values as of December 2023 June 2025 Tap EUR 500m
Slide 17: FCF slightly negative in Q2 driven by inventory pre-production
FCF slightly negative in Q2 driven by inventory pre-production 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 Q2/24 Q3/24 Q4/24 Q1/25 Q2/2
Slide 18: Q2/25: IFRS net result and adjusted net result are positive
Q2/25: IFRS net result and adjusted net result are positive All figures in EURm / % of revenues Net results (adj.)1) EPS diluted (adj.)1) 2) Net results IFRS EPS diluted IFRS 2) CHF CHF -0.01 0.35 0.02 -0.22 0.17 -0.41 0.23 -0.55 -0.78 0.01 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25
Slide 19: Summary Q2/25
Summary Q2/25 Highlights Business update: - Revenue and profitability at mid-point of the guidance - Strong design-win traction H1, ~2.5 bn € - RtB* run rate savings 6 months ahead of plan Deleveraging plan: - RCF extended until September 2027 - Sale of Entertainment & Industrial Lamps business anno
Slide 20: Business outlook
Business outlook Q3 2025 Guidance FY 2025 comments − Revenue EUR 790m – 890m − Revenues: 2nd half-year stronger than 1st half-year due to product ramp-ups and seasonality despite headwinds from USD but without considering direct or indirect − Adj. EBITDA 19.5% +/- 1.5% impact from new tariff regime
Slide 21: Q&A
Q&A Aldo Kamper Rainer Irle Dr. Jürgen Rebel CEO CFO Head of IR 21