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Osram suffered from serious financial losses in the middle of the year 2019

Oscram office building
The world second-largest led lighting player Osram still had to face the declining financial results, which was reported that revenue on a comparable basis fell 13.5% to €862 million ($965.4M) as EBITDA before special items plunged 92% for the second quarter ending Mar. 31,2019 compared to the same period in the year 2018

On a net income basis (profit after tax) Osram announced a loss of €91M ($101.9M), compared with a profit of €56M ($62.7M) in Q2 2018, as restructuring costs including layoffs put the whole business into hotter water.

The numbers were in accordance with several financial warnings that Osram has already made earlier this year, including a caution in March that both income and revenue for 2019 will fall.

The decline arose from the continuing weakness of the automotive, general lighting and mobile device markets,  which in turn led to high inventory levels, particularly in China.

Those difficulties are still going on until now. And in a sign that things might not recover soon, the company thought that the general economic depreciation is worsening business development.
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