The pandemic has caused numerous companies—including Osram—to withdraw or reduce their business outlook and guidance. Now Osram have an updated business guidance for their fiscal year 2020 (October 2019 to September 2020).
Osram are expecting a year-on-year revenue decline of 15 to 19 per cent, versus their previous prediction of about 3 per cent growth. For the ongoing third quarter of the fiscal year (1 April to 30 June 2020) the current forecast provides for a comparable revenue decline of as much as 35 per cent.
After an expected decline of business development in the third quarter, the managing board now expect a slight demand recovery in the upcoming months. The profound weakness of the global automotive business as well as a demand weakness in Osram’s core markets in Europe and North America will burden the development also in the fourth quarter. This is countered by increasing revenues in China and the early measures taken by the company which helped to moderate the impact of the COVID-19 pandemic on liquidity and financial results. These measures will continue to be consistently implemented.