By Kim Richters 
 

Ams AG on Tuesday released results for the first three months of the year and said it expects business in the second quarter to be driven by a recovery in global automotive demand.

The Austrian sensor maker, which is listed in Switzerland, said first-quarter performance was robust but didn't provide any comparable year-on-year figures due to its acquisition of Osram Licht AG since then.

First-quarter group revenue came in at $1.55 billion and net profit was $5 million, it said.

The company said it expects business to continue to develop positively in the second quarter, driven by a strong recovery of world-wide automotive demand and supported by solid demand in other business areas, despite a generally tight supply chain.

At the same time, it guided for sequentially lower revenue of between $1.43 billion and $1.53 billion for the second quarter. "Pandemic-related effects continue to influence regional economies and end markets with different intensity," Ams said.

Late on Monday, Ams said it intends to launch a public delisting tender offer for the remaining around 28% of Osram shares it doesn't yet own against a cash consideration of 52.30 euros ($63.10) for each Osram share.

At 0735 GMT, shares in Ams traded 3.3% higher at CHF16.52.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

May 04, 2021 03:59 ET (07:59 GMT)

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