Event in Progress:
Discover the latest content that has just been published on Research Tree
ams OSRAM’s Q3 results were in line with expectations. Adjusted EBIT was up by €21m (42%) sequentially due to higher volumes, better cost controls= and around €10m of positive one-off effects related to the catch-up of subsidies recognition. The end-markets were, however, still challenging, prompting the company to guide for a flat qoq performance in Q4. Additionally, ams OSRAM’s financing plan is progressing well. We expect a rights issue and a placement of new Senior Unsecured Notes by the end
Companies: ams-OSRAM AG
AlphaValue
ams OSRAM’s Q2 results were above consensus, marked by sequentially increasing industrial markets and normalizing automotive inventories. The end markets were however still challenging, based on which the company has guided for a weaker than expected Q3 and remains cautious for the full year. However, the new management announced a new restructuring plan which will help the company reduce leverage and increase profitability from 2025 onwards.
ams OSRAM’s Q1 results were broadly in line with the guidance but below our and the consensus expectations. The company suffered from weak market demand, inventory correction and under-utilisation, which drove its net profit down by 81% qoq. The guidance is for a weaker Q2 but remains optimistic for H2 23. We expect a market-wide earnings downgrade following this results announcement.
ams OSRAM has delivered Q4 results which were broadly in line with expectations but its mid-term outlook has been downgraded. Even with cost-cutting measures and cost synergies coming from the OSRAM acquisition, profitability is expected to remain low for the coming quarters.
ams-OSRAM has delivered Q3 results broadly in-line with expectations but its mid-term outlook has been downgraded. Even with cost-cutting measures and cost synergies coming from the OSRAM acquisition, profitability is expected to remain low for the coming quarters. The Capex plan has also been reduced although the Kulim fab ramp up remains unaffected. The next few years will be rough.
ams-OSRAM has published poor results. The Q2 guidance had already been a disappointment but, due to the tough environment, ams-OSRAM has not managed to achieve it. Sales were less affected than profitability and Auto and Consumer volumes continue to be abnormally low. On the bright side, the bulk of the portfolio streamlining has been done and ams-OSRAM plans on disposing only one minor business.
Despite a slight beat related to strong profitability, the business has been impacted by several headwinds that are here to stay. The lower Auto volumes and poor traction in consumer are expected to last into the coming quarters. Hence, the guidance for Q2-22 is disappointing, with a sequential decline. Nevertheless, we believe the current share price levels are attractive (low since April 2020) and do not price in the company’s long-term value proposition.
During its CMD ams-OSRAM unveiled a convincing long-term strategy, using its broad optical semiconductor expertise to propose differentiated integrated solutions to address potential high-growth markets. However, the short-term outlook is dull in terms of sales growth and will see heavy investment. It seems that shareholders have lost patience and the stock dropped sharply following the announcement.
ams OSRAM has published results which were broadly in line with consensus for its final FY21 quarter. The outlook seems brighter, driven by the strong performance of its Auto customers as volumes return to normalised levels. The synergies and streamlining of its product portfolio should offset the decrease in profitability associated with the consumer socket loss.
ams OSRAM published strong results, with margins better than expected due to the good integration of OSRAM and the synergies associated with it. However, the poor guidance for Q4 and the many uncertainties in FY22 are very worrying, as the lower Auto volumes and supply issues will have significant consequences on ams OSRAM’s revenues.
Ams OSRAM’s Q2 21 results came in line with consensus in terms of sales and margins. The business is going smoothly, mainly driven by Automotive as the demand for ams OSRAM’s products remains high. The sale of the Digital System activity improves the margin forecasts for the coming quarters.
Ams’ Q1 21 results, now called ams OSRAM, were robust with sales in line with consensus and a better-than-expected profitability. More importantly, ams has put an end to the speculation about the potentially huge contract loss linked to its biggest customer, Apple. It has also announced that it will buy the remaining shares of OSRAM to merge the two entities fully.
The Q4 earnings release was slightly better than anticipated, due mainly to an improvement at OSRAM. Looking into the next quarter, the guidance for ams standalone is in line with our expectations, though the guidance might appear soft given a robust environment in consumer for H1 21.
Ams published its results for the third quarter, which included for the first time OSRAM, making the reading difficult. Overall, the results were below our estimates, impacted by integration costs and the much lower contribution from OSRAM. However, ams maintains its long-term objective of achieving a 25% adjusted operating margin for the full group.
Ams released a sound set of Q2 results, beating expectations at the profitability level along with a strong FCF generation on the back of resilient consumer demand despite the pandemic. Q2 sales were in line with expectations. Q3 guidance falls slightly short of expectations and, in addition to no guidance provided for OSRAM, might disappoint the market today. We, however, maintain our current recommendation.
Research Tree provides access to ongoing research coverage, media content and regulatory news on ams-OSRAM AG. We currently have 0 research reports from 5 professional analysts.
Audioboom’s FY23 results and Q1 trading update show Q1 24 revenue growth of +11% yoy, $6.7m of March 2024 revenue marking the platform’s highest revenue month since May 2022, and a confident outlook that leads us to reiterate our FY24E forecasts. Following the focus on new initiatives through FY23, the platform is now in its strongest ever operational position, with a record 1.1bn monthly ad impressions created in March 2024, record global audience reach of 38.6m unique global listeners in Janua
Companies: Audioboom Group PLC
Cavendish
Alphawave Semi has reduced guidance for FY23 and prospectively citing lower revenues from China, changes in expected revenue recognition from long-term contracts, and continuing investment in R&D. The share price has reacted negatively, giving up most of the gains since the trading statement at the end of January. Current consensus, which is a good match for pre-existing guidance, should be reduced, most likely following release of the FY23 results and full 1Q24 trading update due on 23 April. H
Companies: Alphawave IP Group PLC
Capital Access Group
Crimson Tide has reported FY23 results to December in line with expectations, with additional operating leverage benefitting updated FY24 and maiden FY25 and FY26 forecasts. FY23 delivered +15% revenue growth to £6.2m at 86% GM, of which over 90% is recurring, and maintained £5.8m ARR even after unexpected customer churn in the year as we previously noted. Crucially, the Group achieved milestone adj EBITDA profitability of £0.4m at 7% EBITDA margin, and edges closer to adj PBT profitability expe
Companies: Crimson Tide Plc
Companies: BILN ELCO NXQ CUSN ATG
Devolver Digital encouragingly delivered 2023 results slightly ahead of expectations and provided a steady medium-term outlook that leads us to reiterate our 2024 Adjusted EBITDA estimates. Longer term, the company is now planning to further develop its two major planned titles, Human Fall Flat 2 and System Era's next major new release. We now expect those major titles to be released in 2026 rather than 2025, meaning we lower our 2025 Adjusted EBITDA forecast to $10.6m from $17.6m but introduce
Companies: Devolver Digital, Inc.
Zeus Capital
Companies: 88E RNO TRIN KRM EXR BOOM
Checkit has won contracts with two customers worth at least £417k over the three-year lives of the contracts, confirming its ability to upsell to its existing customer base and supporting our forecasts. Having trialled the new technology with multiple customers, Checkit has launched its Asset Intelligence module, which uses advanced analytics and machine learning to enhance customer sustainability, reduce costs and increase revenue.
Companies: Checkit plc
Edison
Companies: Kainos Group PLC
Canaccord Genuity
ATG’s H1/24 trading statement indicates revenue for the six-month period to 31 March 2024 was $86m, a 6% increase on H1/23 (1% organic growth), helped by the addition of the EstateSales.Net (ESN) marketplace last year, which performed well in the period. Total marketplace revenue increased 2% (organic), driven by growth in value-added services (VAS) and event fees, offsetting a decline in commission revenue (mainly through lower asset prices).
Companies: Auction Technology Group PLC
Companies: Crimson Tide Plc (TIDE:LON)Plant Health Care PLC (PHC:LON)
GE Healthcare has announced the launch of the Voluson Signature 20 and 18 ultrasound systems, with the related press release noting these systems ‘comprehensively integrate artificial intelligence’ to improve the ultrasound procedure for clinicians and the women being scanned. These ultrasound systems include SonoLyst, the AI which incorporates Intelligent Ultrasound’s ScanNav Assist and ScanNav AutoCapture AI software. The launch of additional Voluson systems including the SonoLyst suite of AI
Companies: Intelligent Ultrasound Group Plc
Touchstar is a supplier of mobile data computing solutions and managed services to a variety of industrial sectors. This morning's full year results reflect the outcome of a multi-year strategy coming to fruition for the group, with recurring revenue growth of 8.7% delivering overall revenue growth of 7.1% and in turn a 60% increase in PBT to £0.7m. Over the past few years, Touchstar has focused on enhancing the returns from their product offering through a shift towards recurring software licen
Companies: Touchstar plc
WHIreland
This report is intended to help UK small- and mid-cap investors gain a better understanding of software companies’ routes to market, and to highlight how one of the most important facets of the way in which they grow and deliver value is routinely ignored. We examine sales processes for six UK-listed companies and one that has recently been taken over, and consider why they have followed their respective paths.
Companies: Idox plc
Progressive Equity Research
Companies: Cirata Plc
Liberum
ENGAGE XR’s FY23 results show revenue and net cash in line with the February trading update, EBITDA ahead at -€4.0m vs -€4.5m due to the split of cash outflow between opex and working capital, and a confident outlook that leads us to reiterate our FY24E forecasts. FY23 revenue for the core ENGAGE platform was unchanged vs FY22 at €3.3m, as H2 23 revenue was impacted by the record seven-figure contract announced in February shifting to 2024, and several enterprise customers scaling back renewals
Companies: Engage XR Holdings PLC
Share: