Earnings Call Summary | AMS-OSRAM AG UNSPN ADR EACH REP 0.50 ORD SHS(AMSSY.US) Q1 2024 Earnings Conference
Earnings Call Summary | AMS-OSRAM AG UNSPN ADR EACH REP 0.50 ORD SHS(AMSSY.US) Q1 2024 Earnings Conference
The following is a summary of the Ams-OSRAM AG (AMSSY) Q1 2024 Earnings Call Transcript:
以下是艾姆斯歐司朗股份公司（AMSSY）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Ams-OSRAM reported Q1 group revenues of €847 million, a decrease from Q4 2023 due to seasonality in the automotive aftermarket business and inventory corrections in industrial and medical markets.
There was a significant increase in R&D expenses to €140 million, in part due to the ongoing development of the microLED project.
The decrease in SG&A expenses to €93 million reflects cost-cutting measures, such as the 'Re-establish-the-Base' program.
The restructuring costs for the microLED strategy led to a transformation cost of around €700 million in 2024.
The gross margin underutilization costs recorded are around €300 million per year, which are expected to decrease as part of the company's growth plan.
The company reported an adjusted gross profit of €241 million, 7% less than the previous quarter.
Ams-OSRAM anticipates a decline in revenue and adjusted EBIT for Q2 due to seasonality, but expects positive cash flow excluding interest payments for FY'24.
由於汽車售後市場業務的季節性變化以及工業和醫療市場的庫存調整，艾邁斯歐司朗公佈的第一季度集團收入爲8.47億歐元，較2023年第四季度有所下降。
研發費用大幅增加至1.4億歐元，部分原因是microLED項目的持續發展。
銷售和收購支出減少至9,300萬歐元，這反映了削減成本的措施，例如 “重建基地” 計劃。
MicroLED戰略的重組成本使2024年的轉型成本約爲7億歐元。
每年記錄的毛利潤未充分利用成本約爲3億歐元，作爲公司增長計劃的一部分，預計將減少。
該公司報告調整後的毛利潤爲2.41億歐元，比上一季度減少7％。
艾邁斯歐司朗預計，由於季節性，第二季度收入和調整後的息稅前利潤將下降，但預計不包括24財年的利息支付，現金流爲正數。
Business Progress:
業務進展：
The company has redirected its focus from the scaled-down microLED project towards smaller-scale core development activities, securing over €5 billion in design wins.
The automotive and consumer semiconductor business have shown robust performance, despite the market uncertainty.
Product development for adaptive beam lighting for cars is progressing well, with good global traction and potential opportunities from a regulatory shift in the U.S.
The company plans to lease the Kulim 8-inch facility in Malaysia to a new lessee, as part of a cost-saving measure that is expected to improve EBIT and cash flow in 2025.
A part of their noncore semiconductor portfolio is anticipated to be divested by the end of 2024.
Their Android sensor production is projected to continue and grow with Korean and Chinese manufacturers.
該公司已將重點從縮小規模的microLED項目轉移到規模較小的核心開發活動上，確保了超過50億歐元的設計勝利。
儘管市場存在不確定性，但汽車和消費半導體業務表現強勁。
汽車自適應光束照明的產品開發進展順利，具有良好的全球吸引力，美國的監管轉變也帶來了潛在的機會。
該公司計劃將馬來西亞的Kulim 8英寸工廠租賃給新的承租人，這是一項節省成本的措施的一部分，該措施預計將在2025年改善息稅前利潤和現金流。
他們的非核心半導體投資組合的一部分預計將在2024年底之前被剝離。
他們的Android傳感器的產量預計將繼續與韓國和中國製造商一起增長。
More details: AMS-OSRAM AG UNSPN ADR EACH REP 0.50 ORD SHS IR
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