Sensor maker AMS targets revenues of 10 billion euros until 2026 - source
Reuters
Published Jul 21, 2020 11:59
By Alexandra Schwarz-Goerlich
VIENNA (Reuters) - Sensor specialist AMS AG (S:AMS), which just closed the takeover of German lighting group Osram (DE:OSRn), targets 2026 revenues of more than 10 billion euros (9 billion pounds) for the combined entity, an internal company presentation seen by Reuters shows.
AMS posted revenues of 1.89 billion euros and Osram of 3.59 billion euros for the 2019 January-December period. This year's combined revenue is expected to decrease 12% to 4.8 billion euros, according to the presentation.
The revenue target, which supposedly includes takeovers, was presented at an AMS meeting last week, a source familiar with the matter told Reuters.
"As stated before we pursue a strategy for profitable growth from internal and external sources also for the combination of ams+OSRAM," an AMS spokeswoman said in a written statement when asked for comment.
"For this and as stated before, we target a long-term financial model of double-digit revenue growth and strong profitability."
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Written By: Reuters
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