Osram has reported a net income of €34 million for the 2013 financial year.
Its EBITA (earnings before interest, taxes and amortization) earnings were up 31 per cent from €314 million in 2012 to €410 million for the year ending September 2013.
There was an increase in revenue from LED products from around 25 per cent in 2012 to 29 per cent in the 2013 financial year.
Osram Lighthouse, Osram’s headquarters, Munich
These are the company’s first annual results since it started trading on the Frankfurt stock exchange.
Osram has previously announced plans to achieve a savings of €1 billion Euros by 2014, including cutting 12 per cent of the company’s workforce by 2014.
Over the 2013 financial year there was a drop in its workforce of around 10 per cent, with approximately 8,700 positions to be cut by the end of 2014.
“Fiscal 2013 was in a number of ways a positive year for Osram. Following our successful listing, we also saw a strong finish in our business. We have made significant progress in our company reorganization and execution continues to be ahead of schedule. We are confident that we will stay on our profitable growth path in the current fiscal year as well,” said Wolfgang Dehen, chief executive
The figures come as the company prepares to open its second LED assembly plant in Wuxi, China. It’s hoped to be fully operational by the next summer.
Osram’s opto-semiconductor components section continued to grow, with revenue up 13 per cent year on year. Its Speciality Lighting segment, which includes automotive lighting and display optics - a sector historically strong for Osram - also grew, with strong demand reported for halogen lamps.
The company said its Lamps & Components section recorded its first revenue gain on a comparable basis after five quarters. The 2 per cent increase meant that the LED business offset declines in the traditional business.
Sales of outdoor luminaires drove some growth in the Luminaires & Solutions section, however overall the segment suffered a loss which was put down to the company’s cost-saving measures.
A spokeswoman for Osram said that the company currently has 36 plants worldwide, with its Opto Semiconductor business having two major fabrication plants for front end production (LED chips) in Regensburg, Germany, and Penang, Malaysia.
She added: “For back end assembly – the assembly of the LED chip in its housing – there is the current plant in Penang. Wuxi in China will be a kind of sister fabrication.”
Upcoming projects for 2014 include lighting the Vatican’s Sistine Chapel in Rome.
