By Kim Richters
Ams AG on Tuesday released results for the first three months of the year and said it expects business in the second quarter to be driven by a recovery in global automotive demand.
The Austrian sensor maker, which is listed in Switzerland, said first-quarter performance was robust but didn't provide any comparable year-on-year figures due to its acquisition of Osram Licht AG since then.
First-quarter group revenue came in at $1.55 billion and net profit was $5 million, it said.
The company said it expects business to continue to develop positively in the second quarter, driven by a strong recovery of world-wide automotive demand and supported by solid demand in other business areas, despite a generally tight supply chain.
At the same time, it guided for sequentially lower revenue of between $1.43 billion and $1.53 billion for the second quarter. "Pandemic-related effects continue to influence regional economies and end markets with different intensity," Ams said.
Late on Monday, Ams said it intends to launch a public delisting tender offer for the remaining around 28% of Osram shares it doesn't yet own against a cash consideration of 52.30 euros ($63.10) for each Osram share.
At 0735 GMT, shares in Ams traded 3.3% higher at CHF16.52.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
05-04-21 0359ET