Solid start of the year for the AMS Osram business, says company CEO Aldo Kamper

From the business side, quite quite solid. We delivered 5% growth year on year, have a strong automotive business with plus 15%, the good consumer business plus 13% and Immuted industrial business and we delivered in our guidance in terms of revenue and profitability. So from that side I think a solid start but I should say of course stock price has been impacted by the decision of our customer to stop a very big project for us, the micro LED related topic and here we have made important decisions, we have decided to re scale down our activities here. Sell the factory and restructure our R&D organization to really focus much more narrowly on micro LED for automotive applications. How are you affected by the slowdown in EV sales which we are currently witnessing? Well, the good thing is that our products are actually being used quite quite widely both in IC and EV vehicles. So from that perspective, we are not directly impacted. It’s not that our products are directly tied to an electrical drivetrain, but the EVs do have all usually the latest integration technology in the platform. So there is a bit of an impact there. But we are so widespread globally. We have about 40% market share across the globe across all kind of platforms that we don’t really see that impact. What can shareholders expect in terms of your earnings development for this year and the years beyond because clearly. There is a lot of uncertainty now. Yeah. Well, we have set out on a trajectory last year with our reestablished base program to grow about 7% in the years until 26 and also improve profitability step by step to 15%. We are on that journey. And also the micro LD change actually will will not hurt that. On the contrary on the financial side, honestly speaking in the short term it will even help us. You can imagine that ramping up for this new program would have meant more Copax would have meant more ramp up cost in our factory. That is now of our books. So in that sense we actually expect to continue this journey that we’ve set out on consistently show stepwise improvement in our profitability and also start to become cash positive which is very important. And next year also supported by our external reestablish the base plus this news and these new decisions on micro LED will help us also improve our cash flow and be truly cash positive after interest also next year in 25 for the first time since many years.