FRANKFURT, May 17 (Reuters) - Osram, the lighting business to be spun off by Siemens, expects to approach break-even in its current financial year as it revamps its business.
Revenues will remain flat at about 5.4 billion euros ($7 billion) in the 12 months through September, Osram said in a presentation published on Siemens’ website on Friday as part of the light bulb maker’s Capital Markets Day.
Osram, the world’s No. 2 player in the lighting industry after Philips, is in the midst of restructuring, having been slow to adjust to a shift in demand from traditional light bulbs to light-emitting diodes (LEDs).
Last year, it posted a net loss of 378 million euros.
$1 = 0.7742 euros Reporting by Maria Sheahan