DGAP-Adhoc: OSRAM Licht AG: OSRAM discontinues share buyback program

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DGAP-Ad-hoc: OSRAM Licht AG / Key word(s): Share Buyback
OSRAM Licht AG: OSRAM discontinues share buyback program

14-May-2019 / 19:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


The Managing Board of OSRAM Licht AG (OSRAM) has resolved today to discontinue the share buyback program that has started on 10 January 2019. The decision was taken against the background of the comprehensive measures to increase the operational efficiency and to tighten administration and sales structures, which are being implemented due to the currently weak market and business situation.

As already stated at the end of March and confirmed along with the publication of the results of the 2nd quarter of the financial year on 8 May 2019, OSRAM expects for fiscal year 2019 (continued operations) a revenue decline between 11 and 14 percent, an adjusted EBITDA margin between 8 and 10 percent and a negative free cash flow of -50 to -150 million Euro. OSRAM will reduce its annual cost base by more than 200 million Euro by fiscal year 2021.



Contact:
Juliana Baron
Head of Investor Relations

OSRAM Licht AG
Investor Relations
Marcel-Breuer-Straße 6
80807 München, Deutschland
Tel. +49 89 6213-3030
mailto:j.baron@osram.com
www.osram.com

14-May-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: OSRAM Licht AG
Marcel-Breuer-Straße 6
80807 München
Germany
Phone: +49 89 6213-0
Fax: +49 89 6213-3629
E-mail: ir@osram.com
Internet: www.osram-group.com
ISIN: DE000LED4000
WKN: LED400
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 811279

 
End of Announcement DGAP News Service

811279  14-May-2019 CET/CEST

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OSRAM Licht N 27,50 -0,22 %
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