Osram: Carve-out of General Lighting Business and Share Buyback Both on Track

       At this year’s Annual General Meeting (AGM), OSRAM Licht AG Chief Executive Olaf Berlien gave details of the innovation and growth initiative to the lighting company’s shareholders. “Everyone’s talking about digitalization – but we’re investing in it,” Berlien said in Munich on Tuesday. “Only those who navigate through the dramatically changing lighting industry decisively and with courage and speed can be successful.” Through this initiative, Osram is putting the focus on sustainable growth and wants to take even greater advantage of the potential offered by semiconductor-based lighting technologies. Prior to that, another important strategic step, the carve-out process of the general lighting lamps business, got under way. “The operational carve-out is planned as of April 1, while the legal carve-out is planned as of July 1,” said Berlien, confirming the timeline announced earlier.

 

 

Following the carve-out of the lamps business, Osram will be based on three strategic pillars: Specialty Lighting (SP); luminaires, solutions, and electronic components (Lighting Solutions & Systems, LSS); LED components (Opto Semiconductors, OS); “With our three-pillar strategy, we have a solid foundation upon which to position ourselves even more strongly as a technology company,” said Olaf Berlien.

Given Osram’s strong financial standing, the company is proposing a dividend of €0.90 per share at Tuesday’s AGM. In parallel, Osram has in the meantime also started a share buyback program of up to €500 million. “Osram is financially strong and lets its shareholders benefit from its success,” Chief Financial Officer Klaus Patzak said at the AGM. “At the same time, we retain the capacity to invest for the future.”

This year’s Osram AGM is taking place at the International Congress Center in Munich. With still more than half a million shareholders at the end of fiscal 2015, the company’s ownership structure remained broadly based. As of September 30, about 68 percent of the shares were held by institutional investors. Retail investors held about 14 percent of the company’s shares.

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