Ams-osram Ag · SIX:AMS
Ams-osram — Q1 2026 Earnings Presentation
17 slides from Ams-osram's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026 Earnings Call
Sense the power of light First Quarter 2026 Earnings Call – 9:45 a.m. CET Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 07 May 2026
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: Q1/26 Achievements
Q1/26 Achievements Deleveraging plan on track – next steps in Digital Photonics strategy executed 1 Semiconductor core portfolio revenue grew by 9 % yoy like-for-like 2 Revenue/adj. EBITDA at upper half/end of guidance band; design-win momentum cont'd 3 Portfolio of key components for AI enabled AR
Slide 4: Q1/26: Revenue & adj. EBITDA at the Upper End of the Guidance Band
Q1/26: Revenue & adj. EBITDA at the Upper End of the Guidance Band Approx. 8% growth in core portfolio; YoY adj. EBITDA decline due to deconsolidation of ENI business All figures in EURm / % of revenues Group Revenues EBITDA, EBITDA Margin (adj.)2) ø EUR/USD 1.05 1.13 1.17 1.16 1.17 18.8% 19.5% appr
Slide 5: Q1/26: Overview of Segment Performance
Q1/26: Overview of Segment Performance All figures in EURm / % of revenues OS CSA L&S -3% -5% -2% -1% -15% -13% Revenues 336 344 365 330 327 271 265 280 236 239 224 249 244 192 216 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 22.9% 22.6% 23.6% 24.5% 21.9%
Slide 6: Q1/26: 9% Like-for-Like Growth of Semiconductor Core Portfolio
Q1/26: 9% Like-for-Like Growth of Semiconductor Core Portfolio All figures in EURm / % of revenues Total semi revenue Automotive revenue I&M revenue Consumer revenue approx. +9% YoY -4% -4% in core portfolio1) -14% -1% +11% -7% -12% ~non-core -11% 637 229 239 571 583 595 225 219 217 224 551 206 202
Slide 7: Q1/26: Design-win Momentum Unabated – Digital Photonics on Track
Q1/26: Design-win Momentum Unabated – Digital Photonics on Track Strong traction in core business, wins in new growth themes and further key developments Automotive Industrial Consumer Digital Photonics Automotive EVIYOSTM AR Smart AI Photonics Professional Display lighting Glasses lighting Manageme
Slide 8: ams OSRAM Enables Today's and Tomorrow's AI Enabled AR Smartglasses
ams OSRAM Enables Today‘s and Tomorrow‘s AI Enabled AR Smartglasses ams OSRAM components already in models on the market today - poised for design-in/wins in next gen devices Health & Wellbeing World Sensing • Heart rate, UV, blue light • Gesture, 3D ToF sensing Privacy Indicator Human Machine & Lig
Slide 9: AI Photonics – Micro-emitters for AI Data Center Optical Interconnects
AI Photonics – ams OSRAM Micro-emitters for AI Data Center Optical Interconnects Highly parallel micro-emitter based optical interconnects for scale-up, scale-out and chip-to-chip connection HBM Scale-Up XPU up to 2m Chip-to-chip ‚Slow & wide‘ (highly parallel, micro-emitter array based) optical int
Slide 10: Highly Parallel Interconnects Could Be the Sweet Spot in AI Optical Interconnects
Highly Parallel Interconnects Could Be the Sweet Spot in AI Optical Interconnects Micro-emitter arrays promise up to 10x higher bandwidth density, lower power / bit and high redundancy short length of copper traces between GPU/switch fabric & Optical Engine (OE) long CPO NPO AOC / Pluggable TRX Inte
Slide 11: Development Partnership Signed to Commercialize Highly Parallel Optical Links
Development Partnership Signed to Commercialize Highly Parallel Optical Links AI Photonics – ams OSRAM providing key components to AI eco-system partner for ‚slow & wide‘ interconnects Fiber Bundles Multi core fiber Tray Side wall Photodiode Array (Rx) Fiber-to-Fiber + Amplifier Connector Connector
Slide 12: Positive Free Cash Flow in Q1 2026 due to Speciality Lamps Divestiture Proceeds
Positive Free Cash Flow in Q1 2026 due to Speciality Lamps Divestiture Proceeds 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 Q1/25 Q2/25
Slide 13: 'Simplify' Transforms how ams OSRAM Works – 1st Savings in Q1/26 Delivered
‘Simplify’ Transforms how ams OSRAM Works – 1st Savings in Q1/26 Delivered ‘RtB’ has over-achieved its run rate savings target one year ahead of plan ‘Re-establish the Base’ (RtB) 1) Transformation & Savings Program ‘Simplify’ – launched Feb 26 – Cost – Speed – Agility – 240 Savings target of EUR 20
Slide 14: Strong Available Liquidity (~EUR 2.0 bn) Based on Diversified Debt Instrument Mix
Strong Available Liquidity (~EUR 2.0 bn) Based on Diversified Debt Instrument Mix Current capitalization Current debt maturity profile EURm, IFRS values as of March 2026 €m, repayment amounts as of March 2026 €m, IFRS values as of December 2023 March 2026 IFRS book values EUR million Cash (1,317) 1,
Slide 15: Cash-on-hand & Deal Proceeds Sufficient to Cover Near-term Maturities
Cash-on-hand & Deal Proceeds Sufficient to Cover Near-term Maturities Refinancing of capital structure will be focused on optimizing net financing cost Current liquidity position covers near-term maturities (incl. majority … shifting focus on optimising net tendering of OSRAM put options) and ongoin
Slide 16: Summary Q1 & Q2 Outlook
Summary Q1 & Q2 Outlook Q1/26 & Subsequent Highlights Q2 Guidance Q1 / Business Update: − Revenue EUR 725 m – 825 m - Revenue and profitability at upper half / upper end of guidance − Adj. EBITDA 15.5 % +/- 1.5 % - 9 % growth like-for-like in the core semi-business − Based on assumption EUR/USD 1.17
Slide 17: Q&A
Q&A Aldo Kamper Rainer Irle Dr. Jürgen Rebel CEO CFO Head of IR 17