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Osram sets higher market forecast guidance later in the year 2020

Osram sees improving market conditions in the year 2020
Osram announced its higher business expectations for the fiscal year 2020 because it has seen strong business recovery in the summer, especially in last August this year. Earlier this year, the German-based company has changed its estimation several times, mostly estimating poorer numbers because of the covid-19 epidemic. 

The Managing Board of Osram hopes for a comparable revenue decline of approximately -14%, comparing to previous number of -15% to -19%. The adjusted EBITDA margin is now approximately 8%, which the company set at 3% to 6% previously. Osram also announced that it will reach a balanced free cash flow, while it had estimated a negative Free Cash Flow in the middle double digit to lower triple digit million range.

Osram said that business volume of its Opto Semiconductors and Automotive units were improved in its core markets in China and the U.S. Besides, different measures have been constantly taken to reduce the impact of the COVID-19 so as to stabilize profit and Free Cash Flow.

Osram had been uncertain about its business outlook for fiscal year 2020 earlier this year. Recently, just before the end of fiscal year 2020, Osram is optimistic of its market performance forecast.
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