ams OSRAM : Benefits from ams’ foray into MicroLED are too distant
ams OSRAM has been hit by an adverse environment since H2 2022 with weak demand in the Consumer and Industrial end markets, combined with inventory corrections in the Auto end market. We consider that visibility on a potential recovery in H2 2023, as hinted by management, is low. We prudently forecast a -22% revenue decline to € 3.78bn (due to disposals and organic revenue contraction) and a -19% EBITDA drop to € 689m in 2023. And we expect that adjusted EBIT will return to its 2...AMS provides advanced sensor and analog solutions for high value and emerging markets. Co.'s markets include Consumer and Communications and Industrial, Medical, Automotive. Co. delivers a broad range of innovative technology solutions for consumer electronics and communication device manufacturers including intelligent light sensors, MEMS microphone ICs, NFC solutions, active noise-cancelling ICs and ultra-low power management solutions. Co. offers customized, application-specific integrated circuits and standard solutions for a broad range of industrial applications including automation and control, position sensors, building automation, security and high-resolution seismic analysis.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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