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Siemens' Osram expects to approach break-even in 2013
May 17, 2013 / 9:26 AM / 5 years ago

Siemens' Osram expects to approach break-even in 2013

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

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