The analysts at Nord LB rated the second quarter figures at Osram as remarkable during these times. Turnover drops by almost 8 percent to 821 million euros. Adjusted EBITDA improved by almost 37 percent to EUR 96 million. Structural measures and the switch to IFRS 16 provide a significant plus.
However, there is a loss of 39 million euros, here restructuring expenses above 45 million euros play an important role. The loss per share is reduced from EUR -0.93 to EUR -0.34.
For the experts, the recommendation to sell Osram shares remains. The target price increases from EUR 29.00 to EUR 34.00.
In the third quarter, the Corona crisis should also be felt more clearly at Osram. Then the mood should calm down a bit. At the end of June there could be a closing of the takeover by ams, but it is not yet dry. As a result, there can be a domination and profit transfer agreement.
If investors have not accepted ams’ offer, analysts say they should now part with the stocks. The course level is interesting and there are a number of challenges to be mastered.
Osram’s shares are almost unchanged at EUR 42.01 and thus clearly above the target price. The takeover offer from ams was EUR 41.00 per share.