Ams Expects Positive Development in 2Q Thanks to Auto Demand
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 email@example.com
(END) Dow Jones Newswires
May 04, 2021 03:59 ET (07:59 GMT)
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