HANOVER (dpa-AFX) - OSRAM Licht (OSAGF.PK) reported that its operating profit for fiscal year 2017 rose by EUR 43 million to EUR695 million for the prior year.
On a comparable basis, i.e. adjusted for portfolio and currency effects, revenue rose by just over 8 percent year on year to reach more than four billion euros.
The operating margin reached 16.8 percent, the EBITDA adjusted for special items was up by more than 6 percent to EUR695 million. Profit after tax came to EUR275 million.
A dividend of EUR1.10 per share is to be proposed to the supervisory board. That means an increase by ten percent.
The company said it is on track with strategy. Despite negative currency effects and investments, Osram will continue to grow in 2018.
For financial year 2018, OSRAM Licht expects a comparable revenue growth in the 5.5% to 7.5% range, an adjusted EBIDTA of around EUR700 million, a free cash flow between minus EUR50 million and minus EUR150 million and earnings per share in a range of EUR2.40 to EUR2.60.
The Managing Board is confident about Osram's positive medium-term prospects and is therefore aiming for a dividend of at least EUR1.10 per share once again in fiscal year 2018.
Separately, OSRAM Licht AG and Continental AG agreed on the key terms regarding a joint venture for intelligent lighting solutions in the automotive segment by singing a term sheet.
The proposed 50:50 joint venture will be called OSRAM Continental GmbH. The parties will now enter negotiations regarding the binding joint venture agreement. Subject to the issuance of required antitrust authorizations, the proposed joint venture will launch its business in calendar year 2018.
OSRAM Continental GmbH then aims to generate revenue in the mid-triple-digit million euros range. It is planned that the proposed joint venture will operate as an independent company and will be fully consolidated in OSRAM's financial statements.
Copyright RTT News/dpa-AFX