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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
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2 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 demand, and business development. Such statements are based on current assumptions and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. We undertake no obligation to update or revise forward- looking statements or other information presented herein unless required by law. All data and statements are based on information available at the time of publication. We make no representation or warranty,express or implied, regarding its accuracy or completeness. Past performance does not guarantee future results. Non-IFRS financial measures, if presented, are reconciled to the most comparable IFRS measures and should be considered accordingly. Other companies that report or describe similarly titled alternative Non-IFRS performance measures may calculate them differently. This presentation may contain errors or omissions, and ams OSRAM assumes no responsibility or liability for such. Investors are encouraged to perform their own due diligence and consult professional advisors prior to making any investment decisions. The information herein is provided for informational purposes only and does not constitute or form part of, and should not beconstrued as, an offer or solicitation to purchase, sell, subscribe to or acquire securities of ams OSRAM.
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3 819 881 882 820 775 EBITDA, EBITDA margin (adj.)2) 135 166 150 135 145 16.5% 18.8% 17.0% 16.4% 18.8% Group revenues 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 ø EUR/USD 1.07 1.05 1.13 -5% -5% approx. +2% YoY in core portfolio1) 1.08 1.10 +7% Q2/24 Q4/24 Q2/25 +7% Q1/25Q3/24Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Divested / exited non-core portfolio and FX rate effects All figures in EURm / % of revenues − QoQ: decline due to weaker USD and typical seasonal decline combined with inventory correction in aftermarket auto-lamps − YoY: decline is caused by exit/divestment of non-core portfolio and weaker USD. − QoQ: increase mainly due to better loading (incl. preproduction for H2 ramp-up) and product mix − YoY: increase due to ‘Re-establish the Base’ (exit of non-core portfolio and cost base improvements) 1) Based on like-for-like core portfolio comparison at constant currencies 2) Excluding microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs as well as results from investments in associates and sale of businesses; group EBITDA includes corporate reconciliations on top of segment EBTIDA
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4 39 37 50 61 29 17.6% 16.0% 18.2% 24.5% 15.2% EBITDA, EBITDA margin (adj.)1)L&S revenues All figures in EURm / % of revenues Lamps & Systems: auto aftermarket inventory correction & seasonal decline − QoQ: inventory correction at the large US retail chains coupled with typical seasonal aftermarket decline and unfavorable FX rate effects − YoY: decline due to unfavorable FX rate effects and inventory correction at the large US retail chains − QoQ: decline due to lower plant utilization and elevated Q1 baseline due to positive one-time effects in Q1 − YoY: decline due to lower plant utilization 223 233 275 249 192 -23% Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 -14% -26% Q1/25Q2/24 Q4/24 -52% Q2/25Q3/24 1) Excluding microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs as well as results from investments in associates and sale of businesses
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5 EBITDA, EBITDA margin (adj.)1)OS revenues 372 381 350 336 344 All figures in EURm / % of revenues OS: significant margin improvement and moderate recovery in revenue − QoQ: revenue increase from moderate recovery in industrial business and slight growth in automotive − YoY: decline is mostly due to unfavorable FX rate effects and automotive LED inventory correction - QoQ: margin improvement as a result of better factory loading and more favorable product mix, funding catch-up (Q1 lower than average run-rate) - YoY: almost flat at lower revenue level Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 +2% -8% -6% Q1/25Q2/24 Q4/24 +61% Q2/25Q3/24 1) Excluding microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs as well as results from investments in associates and sale of businesses 84 88 51 49 79 22.7% 23.1% 14.6% 14.7% 22.9%
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6 EBITDA, EBITDA margin (adj.)1)CSA revenues All figures in EURm / % of revenues CSA: Revenue and margin improved driven by consumer biz & cost savings - QoQ: slight increase as moderate recovery of medical business compensated the seasonally declining consumer business - YoY: increase due to significant improvement of consumer business − QoQ: strong improvement based on better factory loading, preparing for project ramp-ups in H2 − YoY: increase due to 'Re-establish the Base' cost base improvements and structurally better product mix in consumer products 224 266 258 236 239 +1% Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 +7% +105% Q1/25Q2/24 Q4/24 +34% Q2/25Q3/24 1) Excluding microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs as well as results from investments in associates and sale of businesses 21 48 55 32 43 9.4% 17.9% 21.3% 13.8% 18.0%
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7 Automotive revenue I&M revenue Consumer revenue 251 185 159 234 184 230240 158 210225 141 206229 171 183 Total semi revenue All figures in EURm / % of revenues Semis: slightly down YoY due to Auto inventory correction & non-core portfolio exit − QoQ: only slightly up, as the weaker USD off-set the slight increase in auto and the moderate recovery in I&M − YoY: slight decline due to non-core portfolio exit, auto LED inventory correction and negative impact of the weaker USD 596 647 608 571 583 +2% -2% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 ~non-core -9% +2% -8% +21% +15% -11% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 − QoQ: stabilization pointing towards an end of the LED inventory correction − YoY: decline is mostly due to negative impact from weaker USD and auto LED inventory correction − QoQ: moderate recovery from OS industrial business and CSA medical business − YoY: the trough of the cycle seems to be behind, full recovery to unfold over time − QoQ: typical seasonal decline on top of negative impact from weaker USD − YoY: strong increase due to new products compensating exit of non- core portfolio approx. +7% YoY in core portfolio1) 1) Based on like-for-like core portfolio comparison at constant currencies
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8 Professional lighting Tileable CT scanning sensors Automotive EUR ~2.5 bn LTV* H1/25 – continued design-win traction underpinning structural growth model Colored ambient lighting – iRGB / RGB High Pixelated Forward Lighting (EVIYOS®) EUR 2.5 bn design-wins in semiconductor business across the board in the first 6 months of 2025 Classic LED forward lighting Classic signaling Sensor ICs Display Management Camera Enhancement Augmented reality dToF Sensors Temp & Position Sensors Driver & occupancy monitoring *Design-wins in H1/25: estimated project lifetime value Temperature sensor for Glucose monitoring Vital Sign Monitoring ConsumerIndustry / Medical Image sensor for night vision applications design-wins with Chinese and Korean car makers Cumulated H1 design-wins in forward & rear lighting >EUR 800m Continuous design-wins with global car makers meaningful new business win in North America market examples
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9 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 * with integrated the module from Marelli * cumulated, estimated project life-time values
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10 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.
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11 ams OSRAM closed in on no.1 in LED according to TrendForce Continuously improving market position in difficult environment 1. Nichia 2. ams OSRAM 3. Seoul Semiconductors 4. MLS 5. Samsung LED 12% 12% 7% 6% 6% LED Suppliers by 2024 market share (Total market USD ~12.2bn; TrendForce) #2 in LED 11 Sources: TrendForce 2025 LED Player Revenue and Capacity-2Q25 0% 5% 10% 15% 2022 2023 2024 MARKET SHARE OF TOP 3 LED SUPPLIERS Nichia ams OSRAM Seoul Semiconductor
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12 Traditional lamps: new product ‘connected emergency warning light‘ launched Connected V16 warning lights will be legally required in registered cars in Spain from 1st January 2026 onwards o The LEDguardian® ROAD FLARE Signal V16 IoT eliminates the need to set-up a warning triangle which can quickly become dangerous in poor visibility and at high speeds on highways o Connected V16 warning lights will replace the warning triangle and the analogue V16 in Spain from 1st January 2026 onwards o The integrated SIM card allow a rapid warning of other road users via the on-board computer or public information boards o 360° flashing orange warning light provides visibility of up to 1km
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13 Implementation status End-24:Run rate savings at end of period vs. 2023 reference1) ‘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 0 50 100 150 200 250 Q1-25 Q2-25 End-25 End-26 in EURm ~135 target-line ~75 ~150 ~225 Portfolio - Non-core portfolio exited Monetizing Innovation - New products ramped Set-up & Infrastructure - New set-up working Refinancing (2023) - completed Upsizing and extension of RtB in Q3/24: - Further efficiency & savings measures initiated to be effective by end of 2026 - In total, approx. EUR 225m of run-rate savings targeted by end of 2026 => All measures detailed out to reach target Q4/26 1) No 100% fall-through to bottom line (2023 ref.) due to price decline & general cost increases (inflation, factor price changes, etc..) ~160
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14 Reducing debt materially and refinancing the outstanding debt at significantly improved conditions 5. Generating well above EUR 500m proceeds from portfolio actions Extension of Revolving Credit Facility (RCF) Sale of Kulim-2 facility Status update comprehensive balance-sheet deleveraging strategy Targeting net debt / adj. EBITDA <2 and annual interest cost below EUR 100m Profitability & FCF improvement through ‘Re-establish the Base’, design-win driven growth, and capex discipline (<8% of revenues) 1. 2. 3. 4. net debt/adj.EBITDA <2 & interest cost < 100m EUR Well progressing Ongoing Completed First step completed Status
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15 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 ranges from specialty lamps for infrastructure and cinema applications to extremely sophisticated light sources for semiconductor wafer fabrication equipment (WFE). - Ushio Inc., a global leader in the field of optical technologies, headquartered in Tokyo, Japan, acquires the ENI business for EUR 114m (cash-and-debt-free deal value). Closing of the transaction is expected in Q1/26, subject to typical closing conditions. - Ushio Inc. has approx. 6,000 employees and provides light units, equipment, systems, and services through developing new light sources and developing and applying proprietary optical technology, serving a multitude of industrial segments. ~170m EUR revenues FY 2024 ~500 Employees Entertainment 40% Industry. 60% Application
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16 Available liquidity (~EUR 1.6bn incl. tap) based on diversified debt instrument mix Current capitalization €m, IFRS values as of December 2023 Notes: 1. Amounts reflect carrying amounts / book values. For 2027CB - Nominal Amount: EUR 760m / Book Value under Debt (IFRS per June 2025): EUR 703m 2. Includes R&D loans, Bank Facilities and Promissory Notes 3. Includes cash, RCF, bilateral bank facilities €m, repayment amounts as of June 2025 (incl. senior notes tap from July) Current debt maturity profile IFRS book values June 2025 EUR million Cash (511) Other Financial Debt 1), 2) 171 Revolving Credit Facility 50 2027 EUR Convertible Bond (2.125%) 1) 703 2029 EUR Senior Unsecured Note (10.50%) 1) 820 2029 USD Senior Unsecured Note (12.25%) 1) 337 SLB Malaysia transaction 1) 420 Total debt 2,501 Total net debt 1,990 Outstanding OSRAM Licht AG – Put Options 528 Available Liquidity 3) 1,133 €m, IFRS values as of June 2025 40 10 760 825 100 341 527 2025 50 2026 2027 2028 2029 2030 2031 2032 21 2033 110 1.166 548 SSD / Promissory Notes Bank Facilities Revolving Credit Facility 2027 EUR CB (2.125%) 2029 EUR HYB (10.50%) 2029 USD HYB (12.25%) SLB Malaysia (6.00%) EUR 800m Revolving Credit Facility was extended (03/07/25) by 1 year until Sep. 2027 500 Tap EUR 500m (equivalent) announced on 23/07/25 + tendered OSRAM minority shares > EUR 1bn incl. tap of EUR 500m (equivalent) Already repaid with proceeds from senior notes tap
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17 FCF slightly negative in Q2 driven by inventory pre-production Inflow from Divestments Free Cash Flow (FCF)1) incl. divestments, incl. net interest paid Operating Cash Flow (OCF) (including net interest paid) All figures in EURm / % of revenues Cash Flow related to Capex 55 246 79 10 25 6.7% 27.9% 9.0% 1.2% 3.2% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -176 -102 -104 -52 -40 21.5% 11.4% 11.8% 6.3% 5.2% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 2 45 27 14 1 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -119 188 2 -28 -14 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 1) Free Cashflow (FCF) defined as Operating CF (incl. net interest paid) – Capex + proceeds from divestments − Operating CF: weak in Q2/25 due to increase in inventories (~EUR 30m excl. FX rate effects) amongst other items − CAPEX: investments in line with guidance for 2025E
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18 Net results (adj.)1) Q2/25: IFRS net result and adjusted net result are positive Net results IFRS EPS diluted IFRS 2) All figures in EURm / % of revenues EPS diluted (adj.)1) 2) -1 37 3 -23 18 -0.01 0.37 0.03 -0.23 0.18 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 0.35 0.02 -0.22 0.17-0.01 CHF -41 24 -58 -82 1 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -0.42 0.24 -0.59 -0.83 0.01 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 CHF 0.23 -0.55 -0.78 0.01-0.41 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Net financing result -55 -35 -58 -65 -40 Income tax result -2 -10 0 -16 -10 − Net financing result driven by net interest expenses (interest expenses plus interest received) − Weighted average number of shares outstanding during Q2/25: 99.6m 2) Earnings per share for the comparative periods were adjusted following the reverse share split on 30 September 2024 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses
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19 Summary Q2/25 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 announced - EUR 500m (equiv.) senior notes tap to pre-finance OSRAM minority shares Highlights * RtB: ‘Re-establish the Base‘ strategic efficiency program, launched July 2023
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20 Business outlook Q3 2025 Guidance FY 2025 comments − Revenue EUR 790m – 890m − Adj. EBITDA 19.5% +/- 1.5% − Based on assumption EUR/USD 1.16 vs 1.13 in Q2 − Currency related effect in top-line approx. 15m − L&S: normal seasonal increase − Semis: seasonal upswing and ramp up of new projects − 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 impact from new tariff regime − US tariffs: successfully mitigating most of the currently known direct cost impact − Profitability: improving compared to FY24 with 'Re-establish the Base' run-rate savings showing stronger effect − CAPEX: less than 8% of sales − FCF (incl. net interest paid) more than EUR 100m positive H1/25 H2/25 Project ramp-ups Seasonal uptick ? - macro impact of tariffs - weaker USD
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21 Q&A Head of IRCEO Aldo Kamper Dr. Jürgen Rebel CFO Rainer Irle
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1 Sense the power of light Second Quarter 2025 Investor Presentation Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 31 July 2025
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2 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 demand, and business development. Such statements are based on current assumptions and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. We undertake no obligation to update or revise forward- looking statements or other information presented herein unless required by law. All data and statements are based on information available at the time of publication. We make no representation or warranty,express or implied, regarding its accuracy or completeness. Past performance does not guarantee future results. Non-IFRS financial measures, if presented, are reconciled to the most comparable IFRS measures and should be considered accordingly. Other companies that report or describe similarly titled alternative Non-IFRS performance measures may calculate them differently. This presentation may contain errors or omissions, and ams OSRAM assumes no responsibility or liability for such. Investors are encouraged to perform their own due diligence and consult professional advisors prior to making any investment decisions. The information herein is provided for informational purposes only and does not constitute or form part of, and should not beconstrued as, an offer or solicitation to purchase, sell, subscribe to or acquire securities of ams OSRAM.
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3 52% 25% 23% Automotive: − #1 Auto LED & lasers − #1 in traditional lamps Industrial & medical: − #1 horticulture led lighting − #1 in CT medical imaging Consumer: − #2 in light sensors 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 Revenues by application1 & Market positions Return to structural growth – value proposition Our segments & technologies Semiconductors Lamps & Systems Key Figures1 & Semiconductor TAM3 − Target operating model 2027: 6-10% semi core revenue CAGR, 20-24% adj. EBITDA (group), ~8% CAPEX to sales − ‘Re-establish the base’ program to achieve run-rate savings of ~225m€ by E-2026 (vs. 2023 actuals) − Positive Free Cash Flow (including net interest)4 => > 100 m€ in 2025 Sensors & ICs LED & lasers ~2.4 bn€ ~1.0 bn€ 12 bn€ TAM3 Ind. & Med.: mid-single digit % CAGR2 Auto: high-single digit % CAGR2 Consumer: mid-single digit % CAGR2 Revenues 3.4 bn€ Adj. EBITDA 575 m€ / 16.8% Customers: >10k Employees: ~19.7k Engineers; ~5k Patents: >13k 1 Fiscal Year 2024 2 Fiscal Year 2024 with CAGR 2024 – 2027 3 Total Addressable Semiconductors Market => no dedicated, only partial market reports for ams OSRAM addressed application segments available 4 Defined as Operating Cashflow – Capital expenditures + proceeds from divestments 3
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4 CMOS Sensors & ASICs (CSA)Opto Semiconductors (OS) I&M ~18% AUT ~82% CON ~68% I&M ~26% AUT ~6% Our segments - overview of business units and applications AUT = Automotive, I&M = Industrial & Medical, CON = Consumer CON ~7% I&M ~30% AUT ~64% Semiconductors Cinema Forward Lighting (FWL) Signaling Hyper-red LEDs Industrial & Outdoor Sensing illumination Display & HUD In-Cabin Sensing Medical imaging (e.g. CT Sensors) Camera enhancement Spectral & Ambient Light Sensing Flicker Detection LED standard lamps Classic halogen & Xenon lamps Display Proximity Sensing High pixelated FWL 1D/2D/3D sensing ~1.4 bn€FY24 4 LED replacement lamps Lamps & Systems ~1.0 bn€ ~1.0 bn€
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5 ams OSRAM closed in on no.1 in LED according to TrendForce Continuously improving market position in difficult environment 1. Nichia 2. ams OSRAM 3. Seoul Semiconductors 4. MLS 5. Samsung LED 12% 12% 7% 6% 6% LED Suppliers by 2024 market share (Total market USD ~12.2bn; TrendForce) #2 in LED 5 Sources: TrendForce 2025 LED Player Revenue and Capacity-2Q25 0% 5% 10% 15% 2022 2023 2024 MARKET SHARE OF TOP 3 LED SUPPLIERS Nichia ams OSRAM Seoul Semiconductor
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6 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 1. Nichia 2. ams OSRAM 3. Seoul Semiconductors 4. MLS 5. Samsung LED 12% 12% 7% 6% 6% LED Suppliers by 2024 market share (Total market USD ~12.2bn; TrendForce) 1. ams OSRAM 2. STMicroelectronics 3. Sensortek (Sitronix) 4. ADI (includes Maxim). 5. Capella/Vishay ~35% ~30% ~5% ~5% ~3% Light Sensor Suppliers by 2024(E) market share (Total market USD ~1.54bn; OMDIA) #2 in LED #1 in Light Sensors #1 in traditional Auto lamps/bulbs Bulb Suppliers by 2024(E) market shares (Total market USD ~1.3bn; own market model due to lack of external research) 1. ams OSRAM 2. Lumileds 3. Others (incl. Asian suppliers) 6 Sources: TrendForce 2025 LED Player Revenue and Capacity-2Q25, OMDIA Light Sensor Report 3Q24 + own assumptions
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7 Profitability model – focus on EBITDA Growth model 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 2024 2027 Lamps & Systems Semiconductors Semi non-core ~200 m€ non-core Over-the-cycle targets 20% - 24% 2024 2027 Managing for CF and EBITDA Semi Lamps Lamps Semi ~ slightly down or flat Key semi growth elements 1. Automotive (largest) 2. Mobile light sensors 3. Industrial & medical 3 elements for EBITDA target: 1. Re-establish-the-Base program (EUR 225m savings by E-26) 2. Ramp of new design-wins 3. Cycle / market recovery Notes: 1) Driven from new base following disposal/exit of “non-core” semiconductor assets 2) >2x WSTS opto-electronics F99 & sensors H99 = 3.1% CAGR `22 to `26 due to addressed segments 3) Free Cash Flow = Operating Cash Flow (incl. net interest paid) less cash flow from CAPEX plus proceeds from divestments Semiconductor - Revenues 6% - 10% CAGR 1) Group adj. EBITDA Margin 20% to 24% Group CAPEX ~8% of Sales Group Free Cash Flow 3) Positive by 2025 Leverage Net Debt / (adj.) EBITDA < 2x
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8 Semiconductor growth model: structural growth drivers for the next 5 years Design wins Rev. 2024 Megatrends Principle Growth drivers Automotive: ~40% - Electrification - ADAS & autonomous driving - Convenience - Content per vehicle growth (large contribution) - Unit growth (small contribution) Industrial & Medical: ~30% - Robotics - Energy efficiency - Smart devices - Market growth - Bill-of-material expansion - Conversion (e.g. horticulture) - New products / market segments - Channel focus Consumer: ~30% - Smartphone as personal digital assistant - Smart wearables - AR/VR everyday glasses - Content growth - Market growth - New products - New markets - Channel focus 2023: >5 bn € LTV 2024: ~5 bn € LTV
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9 819 881 882 820 775 EBITDA, EBITDA margin (adj.)2) 135 166 150 135 145 16.5% 18.8% 17.0% 16.4% 18.8% Group revenues 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 ø EUR/USD 1.07 1.05 1.13 -5% -5% approx. +2% YoY in core portfolio1) 1.08 1.10 +7% Q2/24 Q4/24 Q2/25 +7% Q1/25Q3/24Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Divested / exited non-core portfolio and FX rate effects All figures in EURm / % of revenues − QoQ: decline due to weaker USD and typical seasonal decline combined with inventory correction in aftermarket auto-lamps − YoY: decline is caused by exit/divestment of non-core portfolio and weaker USD. − QoQ: increase mainly due to better loading (incl. preproduction for H2 ramp-up) and product mix − YoY: increase due to ‘Re-establish the Base’ (exit of non-core portfolio and cost base improvements) 1) Based on like-for-like core portfolio comparison at constant currencies 2) Excluding microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs as well as results from investments in associates and sale of businesses; group EBITDA includes corporate reconciliations on top of segment EBTIDA
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10 OS CSA L&S Q2/25 Overview of Segment performance 372 381 350 336 344 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 -8% -6% +61% RevenuesEBITDA (adj.)1) 224 266 258 236 239 223 233 275 249 192 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 +2% +7% +1% +105% +34% -14% -23% -26% -52% 1) Excluding microLED strategy adaption expenses, M&A-related, other transformation and share-based compensation costs as well as results from investments in associates and sale of businesses All figures in EURm / % of revenues 84 88 51 49 79 22.7% 23.1% 14.6% 14.7% 22.9% 21 48 55 32 43 9.4% 17.9% 21.3% 13.8% 18.0% 39 37 50 61 29 17.6% 16.0% 18.2% 24.5% 15.2%
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11 Automotive revenue I&M revenue Consumer revenue 251 185 159 234 184 230240 158 210225 141 206229 171 183 Total semi revenue All figures in EURm / % of revenues Semis: slightly down YoY due to Auto inventory correction & non-core portfolio exit − QoQ: only slightly up, as the weaker USD off-set the slight increase in auto and the moderate recovery in I&M − YoY: slight decline due to non-core portfolio exit, auto LED inventory correction and negative impact of the weaker USD 596 647 608 571 583 +2% -2% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 ~non-core -9% +2% -8% +21% +15% -11% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 − QoQ: stabilization pointing towards an end of the LED inventory correction − YoY: decline is mostly due to negative impact from weaker USD and auto LED inventory correction − QoQ: moderate recovery from OS industrial business and CSA medical business − YoY: the trough of the cycle seems to be behind, full recovery to unfold over time − QoQ: typical seasonal decline on top of negative impact from weaker USD − YoY: strong increase due to new products compensating exit of non- core portfolio approx. +7% YoY in core portfolio1) 1) Based on like-for-like core portfolio comparison at constant currencies
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12 Implementation status End-24:Run-rate savings at end of period vs. 2023 reference1) ‘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 0 50 100 150 200 250 Q1-25 Q2-25 End-25 End-26 in EURm ~135 target-line ~75 ~150 ~225 Portfolio - Non-core portfolio exited Monetizing Innovation - New products ramped Set-up & Infrastructure - New set-up working Refinancing (2023) - completed Upsizing and extension of RtB in Q3/24: - Further efficiency & savings measures initiated to be effective by end of 2026 - In total, approx. EUR 225m of run-rate savings targeted by end of 2026 => All measures detailed out to reach target Q4/26 1) No 100% fall-through to bottom line (2023 ref.) due to price decline & general cost increases (inflation, factor price changes, etc..) ~160
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13 Available liquidity (~EUR 1.6bn incl. tap) based on diversified debt instrument mix Current capitalization €m, IFRS values as of December 2023 Notes: 1. Amounts reflect carrying amounts / book values. For 2027CB - Nominal Amount: EUR 760m / Book Value under Debt (IFRS per June 2025): EUR 703m 2. Includes R&D loans, Bank Facilities and Promissory Notes 3. Includes cash, RCF, bilateral bank facilities €m, repayment amounts as of June 2025 (incl. senior notes tap from July) Current debt maturity profile IFRS book values June 2025 EUR million Cash (511) Other Financial Debt 1), 2) 171 Revolving Credit Facility 50 2027 EUR Convertible Bond (2.125%) 1) 703 2029 EUR Senior Unsecured Note (10.50%) 1) 820 2029 USD Senior Unsecured Note (12.25%) 1) 337 SLB Malaysia transaction 1) 420 Total debt 2,501 Total net debt 1,990 Outstanding OSRAM Licht AG – Put Options 528 Available Liquidity 3) 1,133 €m, IFRS values as of June 2025 40 10 760 825 100 341 527 2025 50 2026 2027 2028 2029 2030 2031 2032 21 2033 110 1.166 548 SSD / Promissory Notes Bank Facilities Revolving Credit Facility 2027 EUR CB (2.125%) 2029 EUR HYB (10.50%) 2029 USD HYB (12.25%) SLB Malaysia (6.00%) EUR 800m Revolving Credit Facility was extended (03/07/25) by 1 year until Sep. 2027 500 Tap EUR 500m (equivalent) announced on 23/07/25 + tendered OSRAM minority shares > EUR 1bn incl. tap of EUR 500m (equivalent) Already repaid with proceeds from senior notes tap
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14 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 ranges from specialty lamps for infrastructure and cinema applications to extremely sophisticated light sources for semiconductor wafer fabrication equipment (WFE). - Ushio Inc., a global leader in the field of optical technologies, headquartered in Tokyo, Japan, acquires the ENI business for EUR 114m (cash-and-debt-free deal value). Closing of the transaction is expected in Q1/26, subject to typical closing conditions. - Ushio Inc. has approx. 6,000 employees and provides light units, equipment, systems, and services through developing new light sources and developing and applying proprietary optical technology, serving a multitude of industrial segments. ~170m EUR revenues FY 2024 ~500 Employees Entertainment 40% Industry. 60% Application
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15 Reducing debt materially and refinancing the outstanding debt at significantly improved conditions 5. Generating well above EUR 500m proceeds from portfolio actions Extension of Revolving Credit Facility (RCF) Sale of Kulim-2 facility Status update comprehensive balance-sheet deleveraging strategy Targeting net debt / adj. EBITDA <2 and annual interest cost below EUR 100m Profitability & FCF improvement through ‘Re-establish the Base’, design-win driven growth, and capex discipline (<8% of revenues) 1. 2. 3. 4. net debt/adj.EBITDA <2 & interest cost < 100m EUR Well progressing Ongoing Completed First step completed Status
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16 L&S end market split (FY 2024) 80% 20% Semi end market split (FY 2024) Group end market split (FY 2024) Top customers split (FY 2024) Well diversified revenue streams by end market and healthy customer split I&M = Industrial & Medical 52% 25% 23% AutomotiveConsumer I&M Other customers Top 4-10 customers 21% 12% 67% Top 3 customers Total: more than 10k customers 40% 30% 30% AutomotiveConsumer I&M Automotive I&M Strong exposure to structural growth markets and very balanced customer portfolio
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17 L&S revenues by region (FY 2024) Semi revenues by region (FY 2024) Group revenues by region (FY 2024) Well diversified revenue streams by region Direct tariff impact is under control via local production in the US and supply chain re-routing potentials Americas 50% 29% 21% APAC EMEA 65% 25% 10% Americas EMEA APAC 20% 40% 40% Americas EMEA APAC
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18 Summary Q2/25 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 announced - EUR 500m (equiv.) senior notes tap to pre-finance OSRAM minority shares Highlights * RtB: ‘Re-establish the Base‘ strategic efficiency program, launched July 2023
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19 Business outlook Q3 2025 Guidance FY 2025 comments − Revenue EUR 790m – 890m − Adj. EBITDA 19.5% +/- 1.5% − Based on assumption EUR/USD 1.16 vs 1.13 in Q2 − Currency related effect in top-line approx. 15m − L&S: normal seasonal increase − Semis: seasonal upswing and ramp up of new projects − 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 impact from new tariff regime − US tariffs: successfully mitigating most of the currently known direct cost impact − Profitability: improving compared to FY24 with 'Re-establish the Base' run-rate savings showing stronger effect − CAPEX: less than 8% of sales − FCF (incl. net interest paid) more than EUR 100m positive H1/25 H2/25 Project ramp-ups Seasonal uptick ? - macro impact of tariffs - weaker USD
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20 Sense the power of light Growth drivers
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21 #1 in Automotive Emitters #1 in Automotive Light Sensors 1. ams OSRAM 2. Elmos 3. Vishay 4. Melexis 5. Hamamatsu 6. Rohm 35% 22% 15% 6% 4% 1% Auto Light Sensor suppliers by 2024(E) market share (Total market USD ~71m; OMDIA) 1. ams OSRAM 2. Nichia 3. Lumileds 4. Seoul Semiconductor 5. Dominant 6. Samsung LED 7. Stanley 8. Everlight 9. Jufei 10. Lextar 32% 23% 10% 8% 7% 6% 3% 3% 2% 1% Auto LED suppliers by 2024 market share (Total market USD ~3.4bn; TrendForce) Offering full technology range and innovation leadership in automotive emitters and light sensors Leading Positions in Automotive Semiconductor Sub-Segments Sources: TrendForce 2025 LED Player Revenue and Capacity-2Q25, OMDIA Light Sensor Report 3Q24 + own assumptions
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22 Professional lighting Tileable CT scanning sensors Automotive EUR ~2.5 bn LTV* H1/25 – continued design-win traction underpinning structural growth model Colored ambient lighting – iRGB / RGB High Pixelated Forward Lighting (EVIYOS®) EUR 2.5 bn design-wins in semiconductor business across the board in the first 6 months of 2025 Classic LED forward lighting Classic signaling Sensor ICs Display Management Camera Enhancement Augmented reality dToF Sensors Temp & Position Sensors Driver & occupancy monitoring *Design-wins in H1/25: estimated project lifetime value Temperature sensor for Glucose monitoring Vital Sign Monitoring ConsumerIndustry / Medical Image sensor for night vision applications design-wins with Chinese and Korean car makers Cumulated H1 design-wins in forward & rear lighting >EUR 800m Continuous design-wins with global car makers meaningful new business win in North America market examples
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23 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 * with integrated the module from Marelli * cumulated, estimated project life-time values
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24 SensingIllumination / Visualization 1) Premium cars >50€ already today 2) Source: Yole Overview of the Semiconductor Devices Industry 2024, assuming similar splitbetween LED and Sensors like in the previous Yole Study 2023. 3) BOM growth includes car unit growth (IHS), content growth (take rates / technology penetration) and considers ASP Exterior Sensing (LiDAR) Dynamic signaling Ambient lighting Optical Sensing • Ambient Light Sensing • Rain, light & tunnel sensing • Touchless trunk opener In Cabin Sensing Position & Angle Sensing Display Backlighting Static forward lighting Static signaling Functional illumination Dynamic forward lighting Battery management ams OSRAM automotive semiconductor content growth Driven by safety, convenience and digitalization FY2024: ~1bn m€ BOM3) 2024 (SAM) BOM3) 2029 (SAM) ~25€ ~15€ ~20€ ~40€ ~40€1) ~60€ Automotive Semicon Market2) Memory Sensors LED Processors/ Logic Power/Analog/ Discretes 6.5% 43.5% 13% 26.1% 10.9% Average € across all vehicle classes Smart Surface Head Up Display / Projection
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25 Key Application fields Position Business drivers 2025 to 2027 Medical Imaging & Diagnostics − Market leader in CMOS x-ray sensors for computer tomography − Ramp of design-wins − Market normalization after inventory correction − Next-gen Photon Counting products Horticulture & Smart Farming − Market leader in hyper-red LEDs for horticulture − Conversion of High-Pressure-Sodium lamps to energy efficient LED Robotics − Broad portfolio of cutting-edge sensors & LEDs − Robotics megatrend & channel focus Home & Building Automation & Smart Appliances − Broad portfolio of cutting-edge sensors & LEDs − Market growth & channel focus LED & laser projection − No. 1 in LED & No. 2 in laser projection − New products & market growth Outdoor / Industrial lighting − Leader in high power − Market-share gains through industry consolidation Broad market / distribution − Established partner for Distributors world-wide − Channel focus 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 FY2024: ~700 m€
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26 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 Household Robots & Drones need to reliably determine their environment and position and have easy human-machine interfaces with clear signaling capabilities OSLON Black/ P1616 BIDOS Family Global Shutter: Mira NanEye Low / Mid / High Power: SYNIOS S 2222 OSLON SIGNAL Battery Management Analog Front-End: AS8510 Single-zone dToF TMF880X Multi-zone dToF TMF882x NIR emitter + sensor Capacitive sensor AS8579 Angular: AS5047D Linear: e.g. AS5510 AS734x Color sensors TCS3530 Customizable multi-lenses array SFH4253 + SFH5721 ALS/Flicker sensors TLS25xx
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27 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 Display Proximity sensing − Intensity or ToF-based sensors for touch display on/off. − Clear no.1 position in spectral sensing − Gradual BoM increase due to trickle down of higher value sensors from high-end to mid-range phones − Multi-display phones / flip phones − More sophisticated high-end sensors − AI enabled smartphones − Smarter wearables Flicker Detection − Elimination of artificial light modulation bands Spectral Ambient Light Sensing − Auto White Balancing to improve contrast & low light performance. Light source identification (TL, LED, sun) for better colors. Multi-zone for segmented analysis Depth Sensing for Auto Focus & Bokeh − Single and Multi-zone dToF-based depth sensing for depth-of-field effects and sharp images, also in low light situations AR support − Social media (SnapChat, TikTok), room scanning, navigation, gaming, E-Commerce Household Robots & Drones − Reliable position sensing and easy human- machine interfaces with clear signaling capabilities − Market growth & channel focus Broad market / distribution − Established partner for Distributors world-wide − Channel focus FY2024: ~550 m€ (incl. exited non-core portfolio: ~750 m€)
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28 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.
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29 ams OSRAM’s spectral ambient light sensing makes the difference ams OSRAM sensors enable superior camera performance in almost all premium smartphones Autofocus: “Fast and accurate autofocus, even in challenging light conditions”* AWB & Flicker: “Excellent for photographing family and friends, thanks to accurate skin tones and high details”* Camera Enhancement: Light, Color, Flicker & Range sensors Camera Enhancement: Light, Color, Flicker & Range sensors Winning combination: Spectral + ALS TMF882x Mutizone dToF TSL2585 ALS/UV/Flicker TCS3410 RGB/Flicker Top Smartphones by Camera score Smartphone Model Launch Date Camera score 1 Huawei P70 Ultra Apr 2024 163 2 Google Pixel 9 Pro XL Aug 2024 158 3 Honor Magic6 Pro Feb 2024 158 4 Huawei Mate 60 Pro+ Sep 2024 157 5 Apple iPhone 16 Pro Max Sep 2024 157 6 Apple iPhone 16 Pro Sep 2024 157 7 Oppo Find X7 Ultra Mar 2024 157 8 Oppo Find X8 Pro Oct 2024 157 9 Huawei P60 Pro Mar 2023 156 10 Apple iPhone 15 Pro Max Sep 2023 154 11 Apple iPhone 15 Pro Sep 2023 154 12 Google Pixel 9 Aug 2024 154 *DXOMARK July 2024, ALS denotes Ambient Light Sensor Source: https://www.dxomark.com/smartphones/
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30 Strong and stable profit contributor with excellent position in lamps business AMSP is covering automotive, entertainment and industry applications Cinema MedicalSemiconductors Entertainment Automotive LED & Laser modules (e.g. XLS) Automotive Aftermarket (AFTM) Automotive OEM Traditional lamps LED replacement lamps Fixtures & car accessories Entertainment and Industry Automotive lamps End market split in L&S − Large installed base globally − Expanding our leading market position softens slowly declining market volume − LEDr and XLS with positive market growth in declining lamps business − New opportunities beyond lamps with fixtures & car accessories using our strong brand and channel position. ~20% ~80% Entertainment & Industry lamps
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31 Traditional lamps: new product ‘connected emergency warning light‘ launched Connected V16 warning lights will be legally required in registered cars in Spain from 1st January 2026 onwards o The LEDguardian® ROAD FLARE Signal V16 IoT eliminates the need to set-up a warning triangle which can quickly become dangerous in poor visibility and at high speeds on highways o Connected V16 warning lights will replace the warning triangle and the analogue V16 in Spain from 1st January 2026 onwards o The integrated SIM card allow a rapid warning of other road users via the on-board computer or public information boards o 360° flashing orange warning light provides visibility of up to 1km
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32 Sense the power of light ESG commitments
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33 Creating sustainable value and improving lives with innovative light and sensor solutions ESG update: Sustainability integral part of the company strategy ESG achievements − Comprehensive reporting of carbon emissions, including our own activities (Scope 1 + 2) and significant progress in reporting emissions along the value chain (Scope 3). − Expansion of data in energy, water and waste − All production sites exceeding a defined threshold are certified to ISO 14001 − Human Rights Due Diligence further developed − Ethical training now annually − ESG Committee, driving our sustainability efforts and ensuring focused decision-making. − Sustainability Policy and internal Sustainability Guideline in place, guiding our actions towards a more sustainable future. − Cyber Security ISO 27001 certification − High rankings in ESG ratings due to comprehensive annual sustainability reporting (currently CSRD in preparation) ESG goal: Carbon neutrality by 2030 − Group to be carbon neutral (Scope 1+2) by 2030, endeavor towards net zero ambition − Climate strategy based "avoid, reduce, compensate“, reduction path developed − 44% GHG reduction compared to base year 2021; 61% share of renewable energy − Goals for semiconductor sites until 2028: − Reduction of energy consumption and emissions at our own sites by 20% through efficiency measures − Electricity supply 100% renewable energy − Solar energy at sites in Austria, China, Slovakia and Germany − 100% green electricity at production sites in Germany + Austria − Plan established to compensate for inevitable CO2 emissions E S G
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34 ESG ratings: Our committment to sustainability pays off Keep strong ratings within Sustainalytics and ISS Institution Rating Comment CDP B (Management) B (Management) Climate Change Water Security ecovadis Platinum Improvement from gold to platinum among the top 1% of companies assessed SUSTAINALYTICS 17.6 (low risk) 73.1 (strong management) ESG Risk Rating ESG Risk Management ISS Score B- (PRIME) Strong Prime status, transparency level “very high” MSCI BBB Average managing the most significant ESG risks and opportunities S&P Global CSA Score 69 (out of 100) Yearbook Listing Within best 15% in sector, positioning in 1st Quartile
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35 Sense the power of light Details on Financials
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36 SG&A expenses (adj.)1) OPEX (adj.)1)Gross profit (adj.)1) All figures in EURm / % of revenues Group: adj. OPEX reduced QoQ and YoY R&D expenses (adj.)1) 187 180 179 175 156 22.8% 20.4% 20.3% 21.3% 20.1% 95 99 106 87 82 11.6% 11.2% 12.0% 10.6% 10.6% 100 82 74 90 77 12.2% 9.3% 8.4% 11.0% 9.9% 243 262 239 233 224 29.7% 29.7% 27.1% 28.4% 28.9% -4% -8% -14% -23% -11% -17% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -6% -14% − Adj. gross margin: net changes QoQ and YoY dominated by volume and product mix effects − Adj. R&D expenses: QoQ decline due to funding catch-up, YoY drop due to cost savings − Adj. SG&A expenses: QoQ relatively stable, YoY drop due to cost savings 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses
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37 135 166 150 135 145 16.5% 18.8% 17.0% 16.4% 18.8% All figures in EURm / % of revenues Group adj. Depreciation & Amortization and adj. EBITDA 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses EBITDA, EBITDA margin (adj.)2) +7% Q2/24 Q4/24 Q2/25 +7% Q1/25Q3/24 EBIT, EBIT margin (adj.)2) 56 82 60 58 68 6.8% 9.3% 6.8% 7.1% 8.8% +17% Q2/24 Q4/24 Q2/25 +21% Q1/25Q3/24 D&A (adj.)2) 79 84 90 77 77 9.6% 9.5% 10.2% 9.4% 9.9% 0% Q2/24 Q4/24 Q2/25 -3% Q1/25Q3/24
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38 Q2 2025, All figures in EURm Group adj. Depreciation & Amortization and adj. EBITDA − EBITDA Adj. best reflects underlying profitability of business and overall group development − Transformation costs: mostly from implementing 'Re-establish the Base’. − M&A-related costs: contains the Intersil IP settlement EUR 37m approx. 0.5 0 19 145 -30 3 M&A-related costsmicroLED Share-based compensation costs Transformation costs EBITDA Adj. 147 EBITDA IFRS Result from the sale of businesses 5 Result from Equity Investments
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39 Q2 2025, All figures in EURm Group adj. Depreciation & Amortization and adj. EBIT − EBIT Adj. best reflects underlying profitability of business and overall group development − Transformation costs: mostly from implementing 'Re-establish the Base’. − M&A-related costs: contains the Intersil IP settlement EUR 37m approx. − Asset restructuring: Historic M&A transactions (e.g. OSRAM) result in significant purchase price allocation expenses (non-cash, resulting in D&A), heavily impacting EBIT IFRS. -30 68 51 3 25 5 -5 0 19 EBIT IFRS Asset restructuring Result from the sale of businesses Transformation costs microLED Share-based compensation costs M&A-related costs EBIT Adj.Result from Equity Investments
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40 Net results (adj.)1) Q2/25: IFRS net result and adjusted net result are positive Net results IFRS EPS diluted IFRS 2) All figures in EURm / % of revenues EPS diluted (adj.)1) 2) -1 37 3 -23 18 -0.01 0.37 0.03 -0.23 0.18 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 0.35 0.02 -0.22 0.17-0.01 CHF -41 24 -58 -82 1 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -0.42 0.24 -0.59 -0.83 0.01 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 CHF 0.23 -0.55 -0.78 0.01-0.41 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Net financing result -55 -35 -58 -65 -40 Income tax result -2 -10 0 -16 -10 − Net financing result driven by net interest expenses (interest expenses plus interest received) − Weighted average number of shares outstanding during Q2/25: 99.6m 2) Earnings per share for the comparative periods were adjusted following the reverse share split on 30 September 2024 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses
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41 FCF slightly negative in Q2 driven by inventory pre-production Inflow from Divestments Free Cash Flow (FCF)1) incl. divestments, incl. net interest paid Operating Cash Flow (OCF) (including net interest paid) All figures in EURm / % of revenues Cash Flow related to Capex 55 246 79 10 25 6.7% 27.9% 9.0% 1.2% 3.2% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -176 -102 -104 -52 -40 21.5% 11.4% 11.8% 6.3% 5.2% Q3/24 Q4/24 Q1/25 Q2/25Q2/24 2 45 27 14 1 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 -119 188 2 -28 -14 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 1) Free Cashflow (FCF) defined as Operating CF (incl. net interest paid) – Capex + proceeds from divestments − Operating CF: weak in Q2/25 due to increase in inventories (~EUR 30m excl. FX rate effects) amongst other items − CAPEX: investments in line with guidance for 2025E
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42 Working Capital Working Capital Trade Receivables Inventories Trade Payables 605 730 833 745 691 +14% -7% 814 843 809 830 834* +2% 0% 357 392 496 356 307 -14% -14% 566 505 472 441 450 -20% +2% Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 All figures in EURm *861 excl. FX rate effects
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43 ams OSRAM Investor Relations Juliana Baron Senior Director Investor Relations juliana.baron@ams-osram.com + 49 89 6213-0 Dr. Jürgen Rebel SVP & Head of Investor Relations juergen.rebel@ams-osram.com + 43 3136 500-0 Vanessa Li Principal Specialist Investor Relations vanessa.li@ams-osram.com + 49 89 6213-0 Investor Relations contact Premstaetten Office + 43 3136 500-0 Internet https://ams-osram.com/about-us/investor-relations Email investor@ams-osram.com Upcoming events ▪ Aug 5, 2025 Non-Deal Roadshow Zurich ▪ Aug 6-7, 2025 Non-Deal Roadshow London ▪ Aug 26-27, 2025 Jefferies Semi Conference Chicago ▪ Sep 3-4, 2025 DB TMT Conference London ▪ Sep 5, 2025 JPM EU Leveraged Finance Conference London ▪ Sep 25, 2025 Baader Investment Conference Munich