DGAP-Adhoc

OSRAM Licht AG: Managing Board decides additional transformation measures

OSRAM Licht AG / Key word(s): Restructure of Company

29.07.2014 19:56

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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The Managing Board of OSRAM Licht AG decided at its meeting today on
additional transformation measures to further improve the competitiveness
of its operating units.

The intended restructuring measures are to be implemented upon the
conclusion of consultations with the employee representatives. These mainly
include the manufacturing activities for traditional products in general
illumination, sales, administration as well as other indirect functions.
This means that around 1,700 domestic positions and around 6,100
international positions are planned to be cut in the fiscal years 2015
through 2017.

In total, the measures decided today would lead to permanent cost
reductions of about EUR260 million until the end of fiscal year 2017. The
gross costs are expected to amount to about EUR450 million in the same
period.

The Managing Board of OSRAM Licht AG confirms the outlook for fiscal year
2014 that was updated at the end of May. Furthermore, the Managing Board
confirms the target to reach an average reported EBITA margin of more than
eight percent over the cycle from fiscal year 2015 onwards. Depending on
the implementation speed of the measures and the restructuring costs'
effect on earnings, the reported EBITA margin could be below this average
value in the fiscal year 2015.

The measures are necessary against the backdrop of the rapidly declining
market for traditional products in general illumination. The decline
accelerated yet again in the third quarter of the current fiscal year 2014.
The reporting segment Classic Lamps & Ballasts (CLB) revenue was down 14
percent on a comparable basis. This is the main reason why comparable group
revenues were down one percent, even though revenues of the reporting
segment LED Lamps & Systems (LLS) rose 68 percent on a comparable basis.


Contact:
Boris Tramm
Head of Investor Relations

OSRAM Licht AG
Investor Relations
Marcel-Breuer-Straße 6
80807 München, Deutschland
Tel. [phone]
mailto:[e-mail]
www.osram.com


29.07.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: OSRAM Licht AG
Marcel-Breuer-Straße 6
80807 München
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.osram-licht.ag
ISIN: DE000LED4000
WKN: LED400
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart

End of Announcement DGAP News-Service

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