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MarketScreener Homepage  >  Equities  >  Xetra  >  OSRAM Licht AG    OSR   DE000LED4000

OSRAM LICHT AG

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AMS sees pick up in revenues; launches sale of convertible bond

10/27/2020 | 02:40am EST

VIENNA, Oct 27 (Reuters) - Sensor maker AMS forecast on Tuesday a rise in revenues in the fourth quarter from the third, citing solid demand, as it started selling a convertible bond to strengthen its finances after its takeover of lighting group Osram.

The Austrian company said earlier this month its third-quarter revenue fell 13% to $564 million, in the upper end of its guidance of $530 million-$570 million, a figure it repeated on Tuesday.

It set itself a higher target of $650 million-$690 million for the last three months of the year.

"AMS sees strong business momentum continuing in the fourth quarter given significant seasonal ramps and resilient demand in AMS' consumer business, notwithstanding the ongoing global pandemic," the company said in a statement.

"Improving demand trends are taking hold in AMS' automotive, industrial and medical businesses," it added.

AMS said earlier this month it was preparing to issue seven-year bonds convertible into new or existing shares equal to up to 10% of its current share capital. On Tuesday, it put the volume of the issue at 750 million euros, and said the bonds' annual interest should be between 1.875% and 2.375%.

"Pricing is expected to take place later today following an accelerated bookbuilding process with settlement on or around 3 November 2020," AMS said, adding the bonds would be sold by private placement and the proceeds would be used for "general corporate purposes".

AMS has also agreed terms for a new 750 million euro bridge facility that will fund its takeover and integration of Germany's Osram.

The bridge loan will replace an existing bridge facility, AMS said. It had obtained a 4.4 billion euro bridge facility from HSBC, UBS and Bank of America for its Osram purchase. (Reporting by Francois Murphy; Editing by Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -0.14% 28.99 Delayed Quote.-17.58%
HSBC HOLDINGS PLC 1.96% 404.85 Delayed Quote.-31.60%
OSRAM LICHT AG 0.35% 52.08 Delayed Quote.17.96%
UBS GROUP AG 0.19% 13.16 Delayed Quote.7.65%
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Financials
Sales 2020 3 013 M 3 605 M 3 605 M
Net income 2020 -170 M -203 M -203 M
Net Debt 2020 441 M 527 M 527 M
P/E ratio 2020 -29,4x
Yield 2020 -
Capitalization 4 898 M 5 856 M 5 860 M
EV / Sales 2020 1,77x
EV / Sales 2021 1,63x
Nbr of Employees 21 400
Free-Float 22,3%
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Technical analysis trends OSRAM LICHT AG
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 44,44 €
Last Close Price 52,08 €
Spread / Highest target 53,6%
Spread / Average Target -14,7%
Spread / Lowest Target -34,7%
EPS Revisions
Managers
NameTitle
Olaf Berlien Chief Executive Officer
Peter Bauer Chairman-Supervisory Board
Kathrin Dahnke Chief Financial Officer
Stefan Horst Michael Kampmann Chief Technology Officer
Christine Bortenlänger Independent Member-Supervisory Board
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