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Osram Soars on Report Sanan Optoelectronics Is Preparing Bid (10/06/16)
by Richard Weiss
Chinese company plans EU70 per share offer: WirtschaftsWoche
Offer would value lighting parts maker at 7.3 billion euros
Osram Licht AG shares soared to a record after a report that Sanan Optoelectronics Co. Ltd. may make a 7.3 billion-euros ($8.2 billion) offer for the maker of lighting products, the latest bid by a Chinese company for a German industrial business.
The stock rose as much as 14 percent to 61.75 euros in Frankfurt, the most since the Munich-based company was spun off by Siemens AG three years ago. Sanan, a Jingzhou, China-based manufacturer of wafers for light-emitting diodes, is preparing to offer about 70 euros a share, German business news magazine WirtschaftsWoche reported on Thursday, citing people close to the negotiations.
Osram spokesman Philipp Grontzki declined to comment. Kan Hongzhu, secretary of the board of Sanan couldn’t be immediately reached by phone and e-mail on the Chinese holiday.
“For Sanan, Osram is a highly attractive asset that would add quality and access to customers in Europe,” said Karsten Iltgen, an analyst at Bankhaus Lampe in Dusseldorf, who recommends clients buy Osram shares. “Even though the company is smaller and less profitable than Osram, they may well be able to finance such a transaction with the help of the Chinese government.”
Chinese companies have announced or completed acquisitions of German companies worth a record 11.3 billion euros so far this year, almost eight times as much as in 2015, according to data compiled by Bloomberg. The tally includes the purchase of a stake in robot-maker Kuka AG by Midea Group Co., a deal that was scrutinized by German lawmakers concerned about the loss of technological know how, including Economy Minister Sigmar Gabriel.
“The European Union must take a clear stance on China and cannot duck away from this,” Gabriel said on Thursday at an event in Berlin, reiterating government comments related to Osram made last week.
Osram shares traded 10 percent higher at 59.89 euros at 1:22 p.m. local time.
A group of Chinese investors agreed in May to buy Aixtron SE, a German supplier of semiconductor equipment, for about 670 million euros. Shares in that company had crashed late last year after client Sanan Optoelectronics canceled orders, citing a failure to meet “specific qualification requirements.” The suitors said on Thursday that almost 25 percent of Aixtron stock had been tendered. The offer period expires Oct. 7.
Sanan is behind the latest offer for Aixtron, according to a note at the time by NSBO, a London and Bejing-based investment bank which focuses on China.
Siemens, which still owns 17 percent of Osram shares, is considering offloading its remaining stake to potential buyers including Chinese investor GSR GO Scale Capital, people familiar with the talks said last month. Osram in July said it will sell its general lamps unit Ledvance to a Chinese consortium for 400 million euros to focus on its semiconductor, automotive lighting and services businesses.
“This is a political issue,” Bankhaus Lampe’s Iltgen said. “It is also questionable if Siemens is really willing to sell its remaining stake to a Chinese company given the repercussions against Siemens that may follow.”
Sanan’s first-half sales rose to 2.78 billion yuan ($416 million) from 2.29 billion yuan the previous year, the company said Aug. 23. The company is valued at 49 billion yuan.
http://www.bloomberg.com/news/articles/2016-10-06/osram-soars-on-report-sanan-optoelectronics-is-preparing-offer
Seems this board has been inactive for a while, let's try and start it up again.
This main reason this stock had crashed for the reason that Osram didn't make the transition from traditional lightbulbs to LED fast enough. Management didn't anticipate this fast evolution.
With the change in management, and the change in strategy to concentrate on the two divisions that are very profitable I think this stock has a lot of upwards potential.
I would estimate the stock will go up to about 50 EUR. Maybe 60, but my trailing sell order will be placed once it hits 50.
FYI : I own the stock, bought it for 33,89 late December.
So far it seems to be flying in January!
Per iHub rules, mods who are inactive in the previous 60 days are automatically removed. This post is designed to serve only to keep my mod role active.
German Unemployment Drops for First Time in Three Months (7/31/14)
By Stefan Riecher
German unemployment fell for the first time in three months in a sign that Europe’s largest economy is gathering pace after a second-quarter slowdown.
The number of people out of work dropped a seasonally adjusted 12,000 to 2.9 million in July, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 5,000, according to the median of 31 estimates in a Bloomberg News survey. The adjusted jobless rate was unchanged at 6.7 percent, the lowest level in more than two decades.
Germany has led the euro area’s recovery and a survey by GfK SE shows that consumer confidence in August will be the strongest since 2006. The Bundesbank predicts that while the nation’s economic growth may have stagnated in the three months through June, it will pick up again this quarter.
“There’s no need to be concerned about the German economy or its labor market,” said Andreas Moeller, an economist at WGZ Bank in Dusseldorf. “Germany is still outperforming most of Europe and it’s competitive even if wages were to increase a bit.”
Bundesbank President Jens Weidmann said this week that signs of labor shortages are increasing and that there’s “practically full employment” in a range of industries. Wages nationally could rise by around 3 percent, he told Frankfurter Allgemeine Zeitung.
Porsche, Osram
The tight labor market may limit the scope for employment gains. Osram AG (OSR), the world’s second-biggest lighting company, said this week it will cut an additional 1,700 jobs in Germany and 6,100 elsewhere to safeguard earnings. Porsche AG, the sports-car maker which is part of Volkswagen AG (VOW), says its hiring of about 1,000 employees annually over the next five years will be mostly outside its home country.
The number of people out of work fell by 5,000 in western Germany and 7,000 in the east, today’s report showed.
The German economy expanded 0.8 percent in the first three months of 2014. That’s twice as fast as the previous quarter and four times as fast as the euro area as a whole.
The jobless rate in the 18-nation currency bloc probably held at 11.6 percent in June and inflation remained at 0.5 percent in July, according to separate Bloomberg surveys before figures from the European Union’s statistics office today. The reports are scheduled to be published at 11 a.m. in Luxembourg.
European Central Bank President Mario Draghi last month unveiled a range of measures including targeted long-term loans for banks and a negative deposit rate to fight low inflation and boost growth in the region. He said in April that his “biggest fear” is a stagnation that leads to high unemployment becoming structural.
http://www.bloomberg.com/news/2014-07-31/german-unemployment-drops-for-first-time-in-three-months.html
Osram to Slash 7,800 Jobs (7/29/14)
German lighting manufacturer Osram Licht AG plans to shed roughly 7,800 jobs at home and abroad through 2017, as the company cuts costs.
"The measures are necessary against the backdrop of the rapidly declining market for traditional products in general illumination," Osram said. "The decline accelerated yet again in the third quarter of the current fiscal year 2014." The company's fiscal years end in September.
Starting in the 2015 fiscal year, the restructuring steps aim to lower the company's annual cost base by about €260 million, or roughly $350 million, by the end of fiscal year 2017. Osram said the measures are expected to cost €450 million over that three-year period and start once talks with labor representatives have been completed.
The restructuring will mainly affect manufacturing activities for traditional products in general illumination, sales, administration and other functions.
Of the 7,800 jobs, 6,100 will be cut abroad and the remainder in Germany. Roughly 22% of the company's 35,000 employees will be affected.
Osram also confirmed its full-year guidance for fiscal year 2014 and said it aims for a margin of above 8% in earnings before interest, taxes and amortization over the business cycle from fiscal 2015 onward. In fiscal 2015, the Ebita margin could be below 8%, depending on how fast the measures will be implemented and to what extent the restructuring costs will damp earnings, the Munich-based company said.
Net profit for the fiscal third quarter ended in June totaled €43 million, more than three times the company's year-earlier net profit of €11.7 million.
Group revenue fell 6% to €1.2 billion. Revenue declined 19% in the Classic Lamps & Ballasts segment and 16% in the Luminaires & Solutions business. LED Lamps & Systems posted a 60% gain in revenue.
http://online.wsj.com/articles/osram-announces-cost-cuts-job-cuts-1406661770
Philips Joins Osram to Lure Cities With LED Innovations (4/10/14)
By Elco van Groningen and Alex Webb
The lighting business used to be pretty straightforward: customers bought their light bulbs and a year or so later replaced them.
Light-emitting diodes -- smaller, more energy efficient and with lifespans of more than 20 years -- are forcing market leaders Royal Philips NV (PHIA) and Osram Licht AG (OSR) to adapt. The companies now seek long-term contracts to install complex lighting systems for whole cities from Washington D.C. to Amsterdam and equip buildings such as Paris’ Notre Dame cathedral with luminaires.
Washington’s transit authority in November awarded Philips, which has been selling light bulbs since 1891, a contract to upgrade 13,000 lighting fixtures in parking plots, along with a 10-year maintenance deal. It gives the world’s biggest lighting maker a long-term income stream, and allows Washington to cut energy usage by 68 percent.
“The budgets of cities and local communities are getting smaller and smaller and the pressure to be more efficient with budgets is increasing,” Florian Wunderlich, a Munich-based director at consultancy McKinsey & Co. Inc., said in a phone interview. “So there’s a trend toward out-sourcing of non-core items such as lighting.”
So-called solid state lighting, which includes LEDs, infra-red and laser-based products, will account for two-thirds of the global lighting market by 2020, compared with 18 percent in 2011, according to estimates from Munich-based Osram, the world’s second-biggest lighting maker.
Replacement Rates
As replacement rates decline, Osram and Amsterdam-based Philips are seeking to stabilize revenue with multi-year contracts. Key to the new business model is to provide installation and management services over many years, said Eric Rondolat, head of Philips’ lighting operations.
“It’s not about product anymore: It’s about product, systems and services,” Rondolat said in an interview in Frankfurt. The structure of the Washington contract has opened the door to similar orders in Europe, the U.S. and emerging markets such as China, he said.
“It used to be the case you could leave a light bulb in a warehouse for three years without any problem,” Osram Chief Executive Officer Wolfgang Dehen said at a Munich conference on March 18. “Now, LEDs are developed, produced and sold all within six to nine months.”
Sistine Chapel
Philips and Osram are also battling to demonstrate their ability to provide entire lighting solutions by illuminating iconic historic sites.
Osram announced in November it would design and equip the Vatican’s Sistine Chapel in Rome with new lighting systems sporting 7,000 LEDs. Philips’ response came five months later, with an order to equip Paris’ Notre Dame Cathedral with 400 luminaires.
Solid-state lighting accounted for 62 percent of Osram’s 341 million-euro ($468 million) in research and development costs in 2013, and Dehen is budgeting for that figure to increase further. Those offerings generated 29 percent of Osram’s 5.3 billion euros in revenue, up from 20 percent in 2010, and will increase to more than 50 percent by 2017.
General Electric Co. (GE), whose researchers discovered the LED in 1962, is also getting in on the act. The U.S. company agreed April 8 to supply Wal-Mart Stores Inc. with LEDs at hundreds of sites across the U.S., U.K., Asia and South America for the next two years.
Asian Competition
The growth potential has spurred Asian competitors to look overseas, with Japan’s Toshiba Corp. (6502) seeking partnership deals to manufacture lighting fixtures in Europe. As the cost of LEDs declines, accelerated by increased competition from Samsung Electronics Co. (005930) and Toshiba, so do profit margins.
“Light bulbs were a commodity,” Dehen said. “Now with semiconductor competition from Asia, it is again heading in the commoditization direction.”
McKinsey’s Wunderlich said that adding service offerings will help protect margins from declining as LEDs become more commoditized products. Services in other industries often have a ’’low double-digit margin,’’ he said.
While they pose challenges to manufacturers’ profits, demand for energy-efficient LEDs help open up new markets such as Africa, where many people have limited access to electricity.
Helping Fishermen
Next to Nyachebe Beach along the Kenyan shore of Lake Victoria, 50 miles south of the equator, Osram has been trialing a service solution. Battery-powered lighting packs can be leased by locals and returned to solar-powered energy stations. That enables local fishermen to harvest their catch well after sundown.
Philips has installed 100 light centers across Egypt, Morocco, Ghana, Kenya, Ethiopia, Tanzania and South Africa. These lit areas the size of a soccer field provide hubs for community events, health-care clinics and education programs.
“We focus on Africa as we regard this as a big untapped market,” Nick Kelso, a spokesman for Philips Lighting in Africa, said by phone. “That we’re able to tap into this market has become possible only in the last few years due to the LED revolution.”
For city clients, both Philips and Osram can also connect their lighting systems to mobile phones or motion sensors in office blocks so that areas can shut off lighting and air conditioning if nobody is around. Philips' Rondolat said his company is already making about 428 million euros in annual sales from connected light offerings, which involves all light sources, not only LEDs.
Still, despite the new offerings, Osram’s Dehen said it will take some time before they significantly increase profitability.
“There has been a dramatic change in the market, and a massive change in the company,” he said. “The traditional lighting industry didn’t earn too badly, but in the new business it’s hard to achieve economies of scale and make money.”
To contact the reporters on this story: Elco van Groningen in Amsterdam at vangroningen@bloomberg.net; Alex Webb in Munich at awebb25@bloomberg.net
http://www.bloomberg.com/news/2014-04-09/philips-joins-osram-to-lure-cities-with-led-innovations.html
Osram breaks through 50 euros (3/06/14)
Osram hits 49 euros (2/17/14)
Osram Increases 2016 Savings Target as Profit Misses Estimates (11/11/13)
Osram Licht AG (OSR), the world’s second-biggest lighting company, boosted its savings target by 200 million euros ($267 million) after reporting fourth quarter net income that missed analyst estimates.
Net loss attributable to shareholders narrowed to 29.8 million euros from 119.5 million euros a year earlier, the Munich-based former subsidiary of Siemens AG (SIE) said in a statement. The average estimate of six analysts surveyed by Bloomberg was a net loss of 14.5 million euros. Revenue declined 2.8 percent to 1.3 billion euros.
“We have made significant progress in our company reorganization and execution continues to be ahead of schedule,” Osram Chief Executive Officer Wolfgang Dehen said in the statement. “We also assume that Osram will surpass its earlier announced 2013 to 2015 cumulative savings target.”
Osram was spun off by Siemens July 8 as Europe’s largest engineering divests units whose profitability or growth potential it deems inadequate. Osram is shutting or selling 11 of its plants as it targets improved profitability. The lighting maker is seeking an adjusted earnings before interest, taxes and amortization margin of more than 8 percent next year.
Annual djusted Ebita climbed to 410 million euros from 314 million euros a year earlier, representing 7.7 percent of the 5.3 billion euros in sales.
To contact the reporter on this story: Alex Webb in Munich at awebb25@bloomberg.net
http://www.bloomberg.com/news/2013-11-12/osram-increases-2016-savings-target-as-profit-misses-estimates.html
Osram Says SLS Restructuring in North America to Affect 900 Jobs (9/30/13)
Osram Licht AG (OSR), a former unit of Siemens AG (SIE), said a restructuring of its traditional lighting maintenance business Sylvania Lighting Services in North America will affect about 900 jobs.
The company will discontinue a “significant part” of its locations in the U.S. and Canada in the next six months as it focuses on energy-efficient solutions, the Munich-based company said in an e-mailed statement today.
“Our focus is on profitable growth and therefore we are consequently implementing the company’s transformation agenda,” Chief Executive Officer Wolfgang Dehen said in the statement.
Siemens, Europe’s biggest engineering company, separated from Osram in July as part of an effort to sell businesses with low profitability or growth prospects.
Osram has about 39,000 employees globally and generated revenue of 5.4 billion euros ($7.3 billion) in the 2012 fiscal year. More than 70 percent of its revenue comes from energy-efficient products, according to today’s statement.
Chief Financial Officer Klaus Patzak said in July that the lighting producer needs to restructure before considering additional acquisitions. Osram plans to shut or sell six plants for a total of 11 divested by the end of 2014 as it targets 1 billion euros in savings by 2015.
To contact the reporter on this story: Julie Cruz in Frankfurt at jcruz6@bloomberg.net
Osram Licht sees 2014 financial results improving (9/14/13)
FRANKFURT: German lighting maker Osram Licht expects its financial results to improve next year, partly because of a reduction in restructuring costs, a German newspaper said on Saturday, citing its finance director.
"The results should rise further in 2014. The burdens from restructuring will be reduced to around 100 million euros ($132.59 million) while we expect to make further progress in cost savings," he told Frankfurter Allgemeine Sonntagszeitung.
Source: Reuters
Osram Licht Likely to Join Germany's MDAX (8/21/13)
By Herbert Rude
Deutsche Boerse AG (DB1.XE) on Wednesday reclassified Osram Licht AG (OSR.XE), the recently spun off lighting unit of industrial giant Siemens AG (SI), to "Industrials, Diversified" from "Advanced Industrial Equipment," allowing it to join the MDAX in September.
Without the reclassification, the company would have been listed on the TecDAX in September.
The MDAX index tracks 50 stocks from sectors excluding technology that rank immediately below the companies in the blue-chip 30-member DAX index. The TecDAX index tracks the 30 largest German technology companies not in the DAX.
Deutsche Boerse will decide on alterations to its key indexes Sept. 4, and any changes will take effect after the close of trading on Sept. 20.
Osram is almost certain to join the MDAX given its large market capitalization and liquidity, and have an index weighting of around 2.5%, index analysts say.
Osram's share price has performed well since the stock started trading in July, climbing from EUR24 then to around EUR30 now.
Siemens is no stranger to spinoffs, which have included Epcos, Infineon Technologies AG (IFX.XE) and Linotype Hell AG.
Evonik Industries AG (EVK.XE) and RTL Group SA (RTL.BT) are also likely to join the MDAX in September, while Puma AG (PUM.XE), BayWa AG (BYW.XE) and SGL Carbon SE (SGL.XE) are likely to leave, based on market capitalization and liquidity considerations.
Write to Herbert Rude at herbert.rude@dowjones.com
Osram Gains After Raising Forecasts on Cost-Savings Push (7/31/13)
By Weixin Zha - Jul 31, 2013 8:50 AM CT Facebook Share Tweet
Osram Licht AG (OSR) climbed to the highest price since it was spun off from Siemens AG (SIE) three weeks ago after the lighting manufacturer raised profit forecasts because cost-savings targets are being met early.
Osram rose as much as 8.9 percent to 29.80 euros in the steepest intraday gain since the stock’s second trading day on July 9. The shares were up 5.7 percent at 3:44 p.m. in Frankfurt, valuing Osram at 3.03 billion euros ($4 billion).
Earnings before interest, taxes, amortization and one-time effects will rise 20 percent to 30 percent in the year through September, Munich-based Osram said today in a statement. That compares with an earlier forecast of a “low double-digit” percentage increase. The company expects to report positive net income, versus a previous prediction of a “significantly smaller” loss than in fiscal 2012.
“The market may react positively on the back of raised guidance and good performance on the restructuring/costs savings front,” Lucie Carrier, Ben Uglow and Robert Davies, London-based analysts at Morgan Stanley, said in a note today. The analysts give the company an equal-weight recommendation, with a share-price estimate of 28.50 euros.
Adjusted Ebita in the fiscal third quarter ended June 30 rose 27 percent from a year earlier to 95 million euros, Osram said today. The company is “ahead of schedule” on reducing spending, Chief Executive Officer Wolfgang Dehen said in the statement. Osram plans to shut or sell six plants in a drive to reach 1 billion euros in savings by 2015.
Siemens, Europe’s biggest engineering company, separated from Osram as part of an effort to sell businesses with low profitability or growth prospects. Osram’s detailed third-quarter earnings report will be published on Aug. 14.
To contact the reporter on this story: Weixin Zha in Frankfurt at wzha2@bloomberg.net
To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net
http://www.bloomberg.com/news/2013-07-31/osram-gains-after-raising-forecasts-on-cost-savings-push.html
Osram Stock as UBS Sees Technology Shift Helping Earnings (7/09/13)
By Weixin Zha - Jul 9, 2013 8:28 AM CT Facebook Share Tweet Osram Licht AG surged as much as 16 percent on the second day of trading as analysts at UBS AG said the company’s lighting technology and a corporate reorganization will boost earnings in years to come.
Osram was trading up 15 percent at 27.38 euros as of 3:26 p.m. in Frankfurt after rising to as high as 27.50 euros earlier in the day. That more than made up for a 0.8 percent decline yesterday, when the stock debuted after the manufacturer’s spinoff from engineering company Siemens AG. (SIE) Volume was 33 percent of the initial day’s total. The manufacturer is valued at about 2.86 billion euros ($3.68 billion).
Siemens separated from Osram as part of a drive to sell units with low profitability or growth prospects. Osram Chief Financial Officer Klaus Patzak said yesterday that the lighting producer needs to complete a restructuring before considering more acquisitions. The Munich-based company, which bought fixtures specialist Siteco in 2011, will shut or sell six plants in a drive to reach 1 billion euros in savings by 2015.
An industrywide shift to light-emitting diodes “offers exciting opportunities to drive both growth and profitability and, as the world’s second-largest lighting company, Osram is well placed to benefit,” Fredric Stahl and Guillermo Peigneux, Stockholm-based analysts at UBS, said today in a research report.
The analysts recommended buying Osram shares and estimated the stock price will reach 38 euros a share as “the key drivers for a re-rating of the shares are likely to be a successful restructuring and a return to growth in the second half of calendar 2013,” they said.
Michael Hagmann, an analyst at HSBC Holdings Plc, gave an overweight recommendation on Osram shares and estimated the stock at 34 euros, saying the spinoff has given Osram management “leeway in the restructuring process,” and that company margins have started to recover.
To contact the reporter on this story: Weixin Zha in Frankfurt at wzha2@bloomberg.net
To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net
http://www.bloomberg.com/news/2013-07-09/osram-stock-as-ubs-sees-technology-shift-helping-earnings.html
Osram Declines on First Trading Day After Siemens Spinoff (7/08/13)
By Alex Webb & Tom Lavell - Jul 8, 2013 6:44 AM CT
Osram Licht AG (OSR), which today dropped as much as 4 percent from its opening price on the first day of trading, said it needs to complete a restructuring before considering acquisitions.
“The priority is the completion of Osram Push and to bring earlier purchases back on track with the plan we had when we bought them,” Chief Financial Officer Klaus Patzak said in an interview at the Frankfurt Stock Exchange. “We are working hard to approach break-even and are well under way with our planning to get there.”
The company, which was spun off by Munich-based Siemens AG (SIE), declined to as low as 23 euros after opening at 24 euros and was trading at 23.55 euros at 12:23 a.m. in Frankfurt, valuing the company at 2.47 billion euros ($3.17 billion).
Siemens has separated from Osram, which it had valued at 3.23 billion euros, as it seeks to divest units with low profitability or growth prospects. Europe’s biggest engineering company scrapped a planned initial public offering of the business last year and instead decided investors will receive one Osram share for every 10 Siemens shares they own.
Rising Earnings
Osram acquired lighting fixtures specialist Siteco for 254 million euros in 2011, and posted 192 million euros in charges at the unit last year alone. Patzak declined to comment when asked about a potential interest in Vienna-based lighting systems company Zumtobel AG. (ZAG)
Profit at Osram in the three months through March more than doubled to 57 million euros from 25 million euros a year earlier, Siemens said in May. Osram will shut or sell six plants for a total of 11 divested by the end of 2014 as it targets 1 billion euros in savings by 2015.
After 2014, the 107-year-old company will focus on cost cuts at its luminaires and solutions businesses, with the restructuring costing around 1 percent of its revenue in the traditional general lighting business, Patzak said. None of the further plant shutterings will affect sites in Germany “in the near future,” he added.
Osram, which had been a wholly owned subsidiary of Siemens since the latter bought out General Electric Co. (GE)’s 21 percent stake in 1978, is meanwhile targeting revenue growth at its opto semiconductor business, which makes LEDs, and specialty lighting units.
Investors are not concerned about Osram’s ability to fund research and development costs as the importance of LEDs grows, Patzak said, citing feedback from investor presentations. He declined to rule out the possibility of a capital increase.
To contact the reporter on this story: Tom Lavell in Frankfurt at tlavell@bloomberg.net
To contact the editors responsible for this story: Simon Thiel at sthiel1@bloomberg.net; David Risser at drisser@bloomberg.net
http://www.bloomberg.com/news/2013-07-08/osram-declines-on-first-trading-day-after-siemens-spinoff.html
World’s largest pure-play lighting company starts trading (7/08/13)
OSRAM Licht AG today started trading on the Frankfurt and Munich stock exchange under the ticker symbol “OSR”. “Today’s listing marks the beginning of a new chapter in the company’s more than 100-year history and presents great opportunities for the company’s future development,” said Osram CEO Wolfgang Dehen. Management was recently on a roadshow visiting the important international capital markets, meeting with about 400 funds and banks to gauge their interest in Osram.
The start of trading was preceded by the company’s successful spin-off from Siemens AG. With this move their shareholders receive Osram shares at an allocation ratio of 10:1. A total of 80.5 percent of the more than 100 million no-par-value registered shares are free float shares. Siemens AG holds 17 percent of the capital stock of OSRAM Licht AG; a further 2.5 percent of the shares were transferred to the Siemens Pension Trust e.V. With a shareholder base of more than 700,000 investors at the start of trading, the Osram share is one of the major publicly traded stocks.
Osram had stepped up preparations for the listing in January 2013 after the general meetings of Siemens AG on January 23 and OSRAM Licht AG earlier on January 21 had authorized Osram’s spin-off from the Siemens Group. Deutsche Bank AG, Goldman Sachs International and UBS Limited are the designated sponsors.
Osram, as an integrated lighting expert, is clearly the number two player in the lighting market and positioned throughout the value chain, from LED chips, lamps, lights and light management systems to lighting solutions and the service business. The company generates more than 70 percent of its revenue with energy-efficient products that are part of its certified environmental portfolio. LED-based products today already account for more than 25 percent of overall revenue, which amounted to €5.4 billion last fiscal year and to €2.678 billion in the first half of the current fiscal year 2013.
ABOUT OSRAM
OSRAM of Munich, Germany is one of the two leading light manufacturers in the world. The company's portfolio covers the entire value chain from components – including lamps, opto semiconductors like light-emitting diodes (LED) – to electronic control gears as well as complete luminaires, light management systems and lighting solutions. OSRAM has around 39,000 employees worldwide and generated revenue of 5.4 billion Euros in fiscal year 2012 (ended September 30, 2012). More than 70 percent of its revenue comes from energy-efficient products. The company's business activities have been focusing on light – and hence on quality of life – for over 100 years. Additional information can be found in the internet at www.osram.com
http://www.osram.com/osram_com/press/press-releases/_business_financial_press/2013/osram-brings-light-to-the-frankfurt-and-munich-stock-exchanges/index.jsp
World’s largest pure-play lighting company goes public (7/05/13)
The spin-off of OSRAM Licht AG from Siemens is effective as of today with the final entry in the Commercial Register. Osram is now officially independent. The world’s largest pure-play lighting company is going public on the stock exchange with this move. As an integrated lighting expert, Osram offers the entire spectrum from LED chip to lamp, luminaire and all the way up to complex lighting solutions.
The spin-off is made on the basis of the Spin-Off and Acquisition Agreement of November 28, 2012, authorized by the general meetings of Siemens on January 23, 2013 and of OSRAM Licht AG on January 21, 2013. Before the day is out, all shares of OSRAM Licht AG are to be admitted to the regulated market of the Frankfurt and Munich Stock Exchanges, as well as to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange. Trading of OSRAM Licht AG shares will commence on July 8, 2013, under the ticker symbol “OSR” (WKN: LED400; ISIN: DE000LED4000). The overall capital stock of OSRAM Licht AG is divided into more than 100 million shares. A good 80 percent of these will today be allotted to the current Siemens shareholders at a ratio of 10:1; that is, the given shareholder will receive one new Osram share for every ten Siemens shares.
Osram, as an integrated lighting expert, is the leader along many stages of the value chain, in traditional as well as in new technologies. The company generates more than 70 percent of its revenue with energy-efficient products. LED-based products today already account for more than 25 percent of overall revenue.
ABOUT OSRAM
OSRAM of Munich, Germany is one of the two leading light manufacturers in the world. The company's portfolio covers the entire value chain from components – including lamps, opto semiconductors like light-emitting diodes (LED) – to electronic control gears as well as complete luminaires, light management systems and lighting solutions. OSRAM has around 39,000 employees worldwide and generated revenue of 5.4 billion Euros in fiscal year 2012 (ended September 30, 2012). More than 70 percent of its revenue comes from energy-efficient products. The company's business activities have been focusing on light – and hence on quality of life – for over 100 years. Additional information can be found in the internet at www.osram.com
http://www.osram.com/osram_com/press/press-releases/_business_financial_press/2013/osram-is-independent/index.jsp
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