www.osram-group.com
Growth momentum continues in the second
quarter
Q2 FY17 Earnings Release
(preliminary, unaudited figures)
OSRAM Licht AG | May 03, 2017
Light is OSRAM
Disclaimer
This presentation may contain forward-looking statements that are subject to risks and uncertainties, including those
pertaining to the anticipated benefits to be realized from the proposals described herein. Forward-looking statements
may include, in particular, statements about future events, future financial performance, plans, strategies, expectations,
prospects, competitive environment, regulation and supply and demand. OSRAM Licht AG has based these forwardlooking statements on its current views and expectations and on certain assumptions of which many are beyond
OSRAM Licht AG’s control. Actual financial performance could differ materially from that projected in the forwardlooking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance
may be better or worse than anticipated. Given these uncertainties, readers should not put undue reliance on any
forward-looking statements. The information contained in this presentation is subject to change without notice and
OSRAM Licht AG does not undertake any duty to update the forward-looking statements, and the estimates and
assumptions associated with them, except to the extent required by applicable laws and regulations.
This presentation includes references to non-IFRS financial measures, including, but not limited to: FCF, EBITDA,
EBITA, EBIT, EBITA margin, capital expenditure, capital expenditure as percentage of revenue, net financial debt, and
net working capital. We have provided these measures and other information in this presentation because we believe
they provide investors with additional information to assess our performance. Our use of these supplemental financial
measures may vary from others in our industry and should not be considered in isolation or as an alternative to our
results as reported under IFRS.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals
provided and percentages may not precisely reflect the absolute figures.
2
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Well-positioned to profit from high-tech markets
Statement from the CEO
“In the second quarter OSRAM almost doubled its
growth compared to prior year, driven especially by
strong demand for LED-based products. While we
continue to benefit from a robust automotive
market, this performance also more than underlines
our overall transformation into a technology-growth
company.
Second quarter highlights (cont. ops.)
 Revenue of €1,051m; comp. growth at
9.7% driven by high-tech products
 Ongoing high profitability, however
below strong prior year level
 Positive free cash flow of €5m despite
increasing investments
3
Thanks to the accelerated sales performance and
looking at our order book for the coming quarters,
we now expect comparable revenue growth of 7-9%
for the full year. The adjusted EBITDA margin
should come in between 16.5% and 17.5%, and we
aim for a diluted EPS between €2.70 and €2.90.”
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Q2 17 at a glance – strong performance
Revenue (€m) / comp. growth
Adj. EBITDA (€m) / adj. margin
+9.7%
940
Q2 16
4
+0.5%
1,051
182
(19.3%)
183
(17.4%)
Q2 17
Q2 16
Q2 17
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
LEDVANCE sale successfully closed
• Delivered as promised – total transaction value at
€500m to €550m, including expected license income
in a high single-digit €m range per annum
• Swift execution of carve-out project albeit complex
legal, IT and manufacturing disentanglement
• Ledvance headed towards independence with a new
best owner
OSRAM sharpens its business profile as a
high-growth technology company
5
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017



OSRAM enables broad range of applications
6
Illuminating
Sensing
Visualizing
Treating
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Automotive outlook stable –
semiconductor content per car increases
Light vehicle production
(Source: IHS for OSRAM FY17)
Rising content per car –
sensor market expected to grow by 25% p.a.
Gesture recognition
IHS estimate 01/2017
Adaptive cruise control system (LIDAR)
Pre crash sensing (LIDAR)
IHS estimate 04/2017
Interior lighting
Ambient lighting
Rain sensor
6.0% 6.0%
LED / Laser
head-up
display
Rear light
3.9% 4.2%
3.4%
2.6%
Ambient light sensor
Daytime
running
light
Driver monitoring
Side view and
lane detection
-0.2% -0.5%
World
7
NAFTA
LED - Visible
APAC
EMEA
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
LED – Non visible
Headlamp
(e.g. laser,
matrix)
3-D environment
detection (LIDAR)
OSRAM enables Smart Cities
Indoor
Outdoor
8
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
OS and APAC continue to be main growth engines
Revenue (€m)
Quarterly development / comp. growth1)
940
995
909
991
1,051
7.6%
9.7%
Q1 17
Q2 17
14.2%
5.7%
Comments Q2 FY17
 Nominal growth at 11.7%, currency effects of +200bps
 OS with strong performance in all segments; SP
continues growth momentum; LSS flat
 APAC with ongoing substantial growth mainly driven by
LED and infrared products
 Challenging market situation in the US
 LED share at 65% vs. 59% in Q2 FY16
-0.6%
Q2 16
Q3 16
Q4 16
Segment split Q2 FY172)
Regional split Q2 FY17
Comp. growth
19.0%
33.5%
Opto Semiconductors
24.0%
Specialty Lighting
Lighting Solutions & Systems
2)
9
27.9%
8.1%
-0.3%
47.5%
1)
Comp. growth
Comparable growth year-over-year, adjusted for currency and portfolio effects.
Based on sum of segment revenues without corp. items & elimination.
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
34.3%
37.7%
EMEA
9.0%
APAC
22.0%
Americas
-1.8%
Ongoing high profitability
Adjusted EBITDA (€m)
Quarterly development / adjusted margin1)
182
179
183
18.0%
17.4%
Q1 17
Q2 17
169
19.3%
17.0%
131
Comments Q2 FY17
14.4%
Q2 16
Q3 16
Q4 16
Special items1) / EBITA
Q2 16
Total special items
Q3 16
Q4 16
Q1 17
Q2 17
-5
-15
-6
9
-14
Reported EBITDA
177
154
125
188
169
Adjusted EBITA
139
125
81
132
135
14.7%
12.5%
8.9%
13.4%
12.8%
Adjusted EBITA margin
1)
 High operating margin sustained
 Investments into growth and innovation as well as
dissynergies from Ledvance disentanglement explain
differences to prior year
 Productivity savings of €61m
 Adjusted EBITDA in corporate items of €-29m in line
with expectations
 Special items of €-14m, mainly from transformationrelated measures as well as integration costs
 Full year projection on special items lowered; now at
approx. €75m-€85m, including restructuring estimates,
integration and transformation related projects
Adjustment for special items includes e.g. transformation costs, substantial legal and regulatory matters, and costs related to mergers and acquisitions activities.
10
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Strong earnings per share in the continuing business
Earnings per share, diluted (€)
Quarterly development
0.77
0.90
-0.14
0.98
0.27
0.75
-0.49
Comments Q2 FY17
0.24
Cont. ops.
0.92
0.81
0.45
0.06
-0.57
Q1 17
Q2 17
-0.91
Discont. ops.
-0.46
Q2 16
Q3 16
Q4 16
Net income / Shares outstanding
Q2 16
Net Income cont. ops. (€m)
Net Income discont. ops. (€m)
Total Net Income (€m)
Shares outstanding, diluted (million)
11
Q3 16
Q4 16
Q1 17
Q2 17
95
78
44
92
79
-15
-50
-92
6
-56
80
28
-48
99
23
104.6
103.0
100.8
99.2
97.6
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
 Strong operational profitability drives €79m
of Net Income (cont. ops.)
 Difference in Net income to prior year
quarter related to higher special items and
tax rate
 Tax rate at approx. 30%, in line with
expectations; lower tax rate in Q2 16
benefited from favorable tax treatment of
FELCO sale
 EPS from discontinued operations reflects
previously communicated book loss
resulting from the deconsolidation of
Ledvance
OS: Revenue driven by automotive demand and sharp
growth in infrared
Opto Semiconductors (OS) (€m)
Revenue development / comp. growth
340
369
372
387
15.0%
13.1%
5.0%
Q2 16
Q3 16
Comments Q2 FY17
430
24.0%
9.2%
Q4 16
Q1 17
Q2 17
EBITDA development / margin
 Q2 growth driven by high demand for infrared and
automotive products - order book indicates growth in
the mid to high teens also for the second half of FY17
 Strong EBITDA margin despite continuous investments
into SSL, innovation and sales force
 Free cash flow remains positive – bulk of capex for
Kulim expected for second half, in addition to ongoing
investments into growth opportunities
EBITA / Free cash flow
124
108
106
31.7%
28.8%
94
101
25.4%
26.2%
EBITA
29.0%
EBITA margin
Free cash flow
Q2 16
12
Q3 16
Q4 16
Q1 17
Q2 17
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Q2 16
Q3 16
Q4 16
Q1 17
Q2 17
82
80
67
73
94
24.0%
21.8%
17.9%
19.0%
21.9%
40
50
28
22
41
SP: Growth and profitability remain on strong level
Specialty Lighting (SP) (€m)
Revenue development / comp. growth
543
561
Comments Q2 FY17
588
610
8.5%
8.1%
Q1 17
Q2 17
495
13.8%
6.5%
-3.3%
Q2 16
Q3 16
Q4 16
Adj. EBITDA development / adj. margin
86
96
 Revenue benefits from strong demand for LED products
as well as LED modules; total LED share now at 50%
 Moderate decline of traditional products in automotive
 High profitability driven by volume growth and
improvements in innovative products
 Q3 comps will be distorted by carve-out related pullforward effects in previous year quarter
Special items / EBITA / Free cash flow
99
75
58
15.8%
13.4%
11.7%
16.3%
16.2%
Q2 16
Q3 16
Q4 16
Q1 17
Q2 17
Total special items
-2
-4
-3
-3
-5
Reported EBITDA
84
71
55
93
94
Adjusted EBITA
74
63
42
83
86
13.6%
11.3%
8.4%
14.2%
14.2%
38
62
73
99
35
Adjusted EBITA margin
Free cash flow
Q2 16
13
Q3 16
Q4 16
Q1 17
Q2 17
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
LSS: Low performance – measures taken to improve
business development
Lighting Solutions & Systems (LSS) (€m)
Revenue development / comp. growth
243
261
Comments Q2 FY17
258
251
243
-4.1%
2.3%
-0.3%
Q4 16
Q1 17
Q2 17
16.9%
9.9%
Q2 16
Q3 16
Adj. EBITDA development / adj. margin
6
Special items / EBITA / Free cash flow
6
1
0.4%
 Flat sales due to softness in the US market and
postponement of projects; clear growth in EMEA
 LED share now at 73%
 Negative EBITDA margin driven by lack of growth and
unfavorable product mix
 Cost position in the luminaires business addressed by
headcount reduction program in Germany
1
2.4%
2.5%
0.5%
-4.4%
-11
Q2 16
14
Q3 16
Q4 16
Q1 17
Q2 17
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Q2 16
Q3 16
Q4 16
Q1 17
Q2 17
Total special items
-2
-4
-3
-2
-4
Reported EBITDA
-1
3
4
-1
-15
Adjusted EBITA
-5
0
0
-4
-16
-1.9%
0.2%
0.0%
-1.8%
-6.7%
-34
-17
41
-18
-38
Adjusted EBITA margin
Free cash flow
Cash flow unchanged to prior year despite higher
investments
Free Cash Flow and Asset Management (€m)
Free cash flow
Comments Q2 FY17
6
5
Q2 16
Q2 17
Net working capital (days outstanding1))
 Positive second quarter cash flow driven by strong
contributions from OS and SP
 Capex significantly above prior year – FCF expected to
be weaker in the second half of FY17 given elevated
Capex levels
 Net working capital improved despite strong revenue
growth
Capital expenditure (percent of revenue)
€37m
-2.2%
1)
682 (67)
667 (62)
647
703
Inventories
572
-537
626
Trade receivables
-663
Trade payables
Mar 31, 2016
Mar 31, 2017
104 (9.9%)
Defined as operating net working capital divided by revenue (last twelve months) times 365 days.
15
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
OS
SP
66 (7.1%)
6
LSS
83
45
15
Q2 16
0
7
14
Q2 17
0
Others /
corporate
Strong increase of net liquidity resulting from
Ledvance sale
Net liquidity bridge (€m) – continuing operations
-10
-67
-100
-3
486
-74
169
9
3
-104
570
FCF €5m
259
Net liquidity
Dec 31, 2016
2
EBITDA
Δ NWC
Δ other assets
and liabilities
Income
taxes
paid
Other cash flow
from operating
activities
CAPEX
LEDVANCE
sale1)
Acquisitions
of consolidated
subsidaries
less cash
acquired
Share
buyback
Dividend
payout
Other
investing and
financial items
Net liquidity
Mar 31, 2017
 Cash flow from operations sufficient to finance capital expenditures
 Cash inflows of €486m form the sale of Ledvance are higher than dividend payout and share buyback
1)
This net liquidity bridge for continuing operations contains the payment received from the sale of LEDVANCE, including cash and cash equivalents disposed. In contrast, and
in accordance with IAS 7, the group cash flow statement shows the cash inflow from the sale of LEDVANCE, net of cash and cash equivalents disposed.
16
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Outlook updated
Objective
Metric
Outlook FY17
Growth
Comparable revenue growth
We target comparable revenue
growth of 7-9%
Profitability
Adjusted EBITDA in
% of revenue
We expect an adjusted EBITDA
margin between 16.5% and 17.5%
Earnings growth
Earnings per share, diluted (€)
We aim for earnings per share
between €2.70 and €2.90
Value creation
Free cash flow (€m)
We intend to achieve a FCF around
break-even
 Based on the outlook for FY17 and OSRAM’s midterm prospects, we intend to
keep the dividend at least stable at €1.00 per share
Please note: All numbers represent continuing operations, i.e. excluding Ledvance business now shown as discontinued operations.
17
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Financial calendar and IR contact information
Upcoming events
 May 04-05, 2017
Roadshow, Frankfurt & London
 May 09, 2017
LIGHTFAIR ® International 2017, Philadelphia
 May 10-11, 2017
Roadshow, New York & Boston
Investor Relations contact
18
Munich Office
+ 49 89 6213 4875
Internet
http://www.osram-group.de/en/investors
Email
[email protected]
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
www.osram-group.com
Appendix
Key financial metrics (preliminary, unaudited)
Group (€m)
Revenue
Gross margin
R&D
SG&A
EBITA
EBITA margin
Adj. EBITA
Adj. EBITA margin
EBITDA
EBITDA margin
Adj. EBITDA
Adj. EBITDA margin
Financial result (incl. at-equity result)
Income before income taxes
Taxes
Net income
Diluted EPS in €
Free cash flow
CAPEX
Net liquidity
Adj. net liquidity / EBITDA
Equity ratio
Employees (in thousands)
1)
Q2 FY16
Q2 FY17
940
38.0%
-83
-146
134
14.2%
139
14.7%
177
18.8%
182
19.3%
-4
123
29
95
1,051
36.2%
-90
-176
120
11.4%
135
12.8%
169
16.1%
183
17.4%
-2
113
34
79
Change (y-o-y)
11.7%
nom.
9.7%
comp.
-170 bps
8.3%
21.2%
-10.5%
-280 bps
-2.6%
-190 bps
-4.6%
-270 bps
0.9%
-190 bps
-48.2%
-8.5%
17.3%
-16.4%
0.90
0.81
-10.1%
6
-67
5
-104
-5.3%
54.3%
-
570
-
0.1
54.3%
24.8
0.6
59.7%
25.9
530 bps
4.6%
-
Please note: All numbers represent continuing operations, i.e. excluding Ledvance business now shown as discontinued operations.
1)
EBITDA for the 3 months ended March 31 was annualized for calculation purposes.
20
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Segment overview (preliminary, unaudited)
OS2)
SP2)
LSS
CIE
OSRAM
Licht Group
430
610
243
-232
1,051
Change % vs. PY reported
26.3%
12.3%
0.2%
11.7%
Change % vs. PY comparable
24.0%
8.1%
-0.3%
9.7%
94
81
-21
21.9%
13.2%
-8.5%
94
86
-16
21.9%
14.2%
-6.7%
124
94
-15
29.0%
15.3%
-6.1%
Special items EBITDA
0
-5
-4
-5
-14
therein transformations costs
0
-2
-4
-5
-11
124
99
-11
-29
183
29.0%
16.2%
-4.4%
707
699
385
2,344
4,136
Free cash flow
41
35
-38
-34
5
Additions to intangible assets and property, plant and
equipment
83
14
7
0
104
Amortization
1
2
1
1
5
Depreciation
30
13
6
0
49
Q2 FY17 (€m)
Revenue
EBITA
EBITA margin
EBITA before special items
EBITA margin before special items
EBITDA
EBITDA margin
EBITDA before special items
EBITDA margin before special items
Assets1)
1)
2)
-34
120
11.4%
-30
135
12.8%
-34
169
16.1%
17.4%
Net assets on segment level; total assets on group level; CIE includes reconciling items as well as Ledvance business now classified as discontinued operations.
Certain automotive-related external revenue historically reported under OS was reclassified to SP external revenue starting Q1 FY17; OS now shows this business as internal
revenue. This also affects other financials, such as profitability, assets and cash flow. All prior year information in this document has been retrospectively adjusted.
21
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Reconciliation of EBITDA Ledvance to Net income from
discontinued operations (preliminary, unaudited)
2016
2017
in (€m)
Q1
Q2
Q3
Q4
full year
Q1
Q2
full year
EBITDA as previously reported under Ledvance
76
35
18
4
133
33
1
34
-26
-41
-47
-56
-170
-1
-3
-4
Allocation changes and others
-5
41
-9
-11
16
-1
-48
-49
Amortization added back
-2
0
-2
-4
-8
-2
0
-2
Depreciation added back
-14
-12
-12
-35
-73
-20
0
-20
EBIT from discontinued operations
29
-17
-51
-102
-142
9
-49
-39
Interest income / expense
-2
-2
-1
-4
-9
0
0
0
EBT from discontinued operations
27
-19
-52
-107
-151
9
-49
-40
Income taxes
-4
5
2
15
18
-3
-7
-10
Net income (loss) from discontinued operations
22
-15
-50
-92
-134
6
-56
-49
Carve-out costs
Please note:
 Carve-out costs relate to the carve-out of the formerly reported Ledvance segment and were allocated in total to discontinued
operations.
 Allocation changes and others reflect central items, eliminations, pensions, and treasury items that historically related to the
Ledvance business. As a result, they have been reflected in discontinued operations.
22
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Consolidated statement of income
(preliminary, unaudited)
Three months ended
March 31
Three months ended
March 31
2017
2016
1,051
940
in (€m)
Revenue
-670
-583
Gross profit
381
357
Research and development expenses
-90
-83
-176
-146
Cost of goods sold and services rendered
Marketing, selling and general administrative expenses
Other operating income
6
1
Other operating expense
-6
-3
Income (loss) from investments accounted for using the equity method, net
-
0
Interest income
3
1
Interest expense
-3
-4
Other financial income (expense), net
-1
0
Income before income taxes OSRAM (continuing operations)
113
123
Income taxes
-34
-29
Net income from continuing operations
Result after tax from discontinued operations
Net income
79
95
-56
-15
23
80
Attributable to:
0
1
23
79
Basic earnings per share (in €)
0.24
0.77
Diluted earning per share (in €)
0.24
0.77
Basic earnings per share (in €) OSRAM (continuing operations)
0.81
0.90
Diluted earning per share (in €) OSRAM (continuing operations)
0.81
0.90
Non-controlling interests
Shareholders of OSRAM Licht AG
23
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Consolidated statement of financial position
(preliminary, unaudited)
in (€m)
As of
March 31
As of
September 30
2017
2016
in (€m)
As of
September 30
2017
2016
Liabilities and equity
Assets
Current liabilities
Current Assets
Cash and cash equivalents
Available-for-sale financial assets
Trade receivables
Other current financial assets
Inventories
Income tax receivables
Other current assets
Noncurrent assets held for sale
Total current assets
781
457
2
1
626
580
49
53
703
655
20
52
33
50
Current provisions
90
98
Income tax payables
79
89
266
305
Other current liabilities
Total current liabilities
Long-term debt
188
42
Pension plans and similar commitments
155
206
77
Other intangible assets
149
113
Deferred tax assets
Other current financial liabilities
192
3,124
Other financial assets
20
601
1,136
121
Investments accounted for using the equity
method
24
663
Trade payables
2,303
Property, plant and equipment
Short-term debt and current maturities of long-term debt
122
Goodwill
1,176
1,060
7
0
14
4
303
384
Other assets
64
38
Total assets
4,136
4,801
Liabilities associated with assets classified as held for sale
-
785
1,155
1,948
Deferred tax liabilities
25
2
Provisions
33
18
Other financial liabilities
15
2
Other liabilities
Total liabilities
97
97
1,668
2,315
Equity
Common stock, no par value
105
105
2,037
2,035
Retained earnings
591
512
Other components of equity
118
60
-394
-237
2,456
2,473
Additional paid-in capital
Treasury shares, at cost
Total equity attributable to shareholders of OSRAM Licht AG
Non-controlling interests
24
As of
March 31
12
13
Total equity
2,468
2,486
Total liabilities and equity
4,136
4,801
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017
Consolidated statement of cash flows
(preliminary, unaudited)
in (€m)
Cash flows from operating activities
Net income
Result after tax from discontinued operations
Adjustments to reconcile net income (loss) to
cash provided
Amortization, depreciation, and impairments
Income taxes
Interest (income) expense, net
(Gains) losses on sales and disposals of
businesses, intangible assets, and property,
plant and equipment, net
(Gains) losses on sales of investments, net
(Income) loss from investments
Other non-cash (income) expenses
Change in current assets and liabilities
(Increase) decrease in inventories
(Increase) decrease in trade receivables
(Increase) decrease in other current assets
Increase (decrease) in trade payables
Increase (decrease) in current provisions
Increase (decrease) in other current liabilities
Change in other assets and liabilities
Income taxes paid
Dividends received
Interest received
Net cash provided by (used in) operating
activities from continuing operations
Net cash provided by (used in) operating
activities from discontinued operations
Net cash provided by (used in) - OSRAM
Licht Group (total)
Three months
ended March 31
Three months ended
March 31
2017
2016
23
56
80
15
Three months ended Three months ended
March 31
March 31
in (€m)
Cash flows from investing activities
Additions to intangible assets and property, plant and
equipment
Acquisitions, net of cash acquired
54
34
0
50
29
3
2
0
0
0
0
0
4
-25
-45
-7
45
2
-46
2
9
-
-41
-22
-53
-16
-14
36
20
-20
0
3
0
109
73
-12
-29
97
43
Purchases of investments
Proceeds and payments from sales of investments, intangible
assets, and property, plant and equipment
Proceeds and payments from the sale of business activities
Net cash provided by (used in) investing activities from
continuing operations
Net cash provided by (used in) investing activities from
discontinued operations
2016
-104
-67
-10
-
0
0
0
388
-3
-
275
-70
-8
-4
Net cash provided by (used in) investing activities OSRAM Licht Group (total)
267
-74
Cash flows from financing activities
Purchase of treasury stock
Proceeds from issuance of long-term debt
-67
0
-56
-
-2
-6
-1
-97
-3
4
-1
-94
-
-177
-147
Repayment of long-term debt
Change in debt and other financing activities
Interest paid
Dividends paid to shareholders of OSRAM Licht AG
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities from
continuing operations
Net cash provided by (used in) financing activities from
discontinued operations
-2
3
Net cash provided by (used in) financing activities OSRAM Licht Group (total)
-179
-144
Effect of exchange rates on cash and cash equivalents
2
-9
Net increase (decrease) in cash and cash equivalents
187
-184
Cash and cash equivalents at beginning of period
593
1,088
Cash and cash equivalents at the end of period
781
904
0
49
781
855
Less: Cash and cash equivalents of assets classified as held
for disposal and discontinued operations at end of period
Cash and cash equivalents at end of period
(Consolidated Statement of Financial Position)
25
2017
OSRAM Licht AG
Q2 FY17 Earnings Release (preliminary, unaudited figures) | May 03, 2017