Osram have withdrawn the guidance for their fiscal 2020; on account of the coronavirus pandemic they consider it unlikely they’ll achieve their corporate targets.
Osram noted that the unprecedented operational and financial challenges posed by the spread of COVID-19 and the uncertain developments in the coming weeks are leading to economic impact on the company, which cannot be dependably determined or quantified at this time. The pandemic has led to increasing production shutdowns by Osram customers and disruption of global supply chains; Osram’s Opto Semiconductors and Automotive units, whose activities in automotive business accounted for more than 50% of the Osram Group’s 2019 sales, are thus highly affected.