The demand for the lighting market has gradually drifted away from traditional light bulbs, which has forced Osram Licht AG, the world's second largest lighting company, to rely more on maintenance and service businesses to maintain stable income.
Osram's chief financial officer Klaus Patzak said in an interview with Bloomberg that Osram has already achieved good results by maintaining a city street lighting network and managing complex stadium lighting systems. “The current service market is mainly in the US, but it is a multi-billion dollar industry,†Klaus Patzak said. “This market will grow in double digits in the future.â€
Osram, based in Munich, Germany, has a history of over 100 years and is the world's two largest light source manufacturers with Royal Philips NV. From the sailing hotel in Dubai, the Swedish Malmo Rotating Tower, the Sydney Olympic Stadium, to the Tiananmen Square in Beijing, Osram's products are used in many famous buildings around the world.
Today, OSRAM is facing a transition from producing traditional light bulbs to new lighting products such as LEDs. In the year to September last year, OSRAM's total sales fell 2.8%, and revenues reached 5.1 billion euros (about 34.14 billion yuan).
In January of this year, OSRAM hired Olaf Berlien, former chairman of the technical department of German industrial giant ThyssenKrupp AG, to replace Wolfgang Dehen. Serve as CEO. During Wolfgang's administration of the OSRAM period, the speed of extinction of traditional light bulbs was underestimated, resulting in layoffs of 15,000 when OSRAM was stripped from Siemens.
Today's LED products have a longer life and require less manpower to produce, which is a serious blow to traditional bulb sales. But LEDs are also a necessity for the replacement of some product lighting systems, such as luxury cars and artificial sunlight for healthcare therapy.
In addition to service business and maintenance business, OSRAM also hopes for growth in the automotive industry. Automotive lighting demand helped Osram reduce traditional bulb sales and make profits last year. Klaus Patzak said, "In the 1.1 billion euro (about 7.361 billion yuan) optoelectronic semiconductor sales unit, about 60% of the demand for LEDs comes from the automotive and industrial sectors."
Demand from the automotive industry contributed about 30% of Osram's total revenue, because of the collateral effect and the sales of Osram's traditional light bulb business – many entry-level cars still use traditional bulbs like halogen lamps.
Osram has been competing with Philips for long-term contracts for service and maintenance. In 2013, the Washington Transportation Bureau signed a long-term contract with Philips to upgrade 13,000 bulbs in the parking lot, and the latter was responsible for its 10-year maintenance.
Osram announced in 2013 that it will design and equip the 7000-inch sports lighting fixtures at the Sistine Chapel in Vatican, Rome. Philips was not to be outdone, and announced the installation contract for the 400-inch luminaire of Notre Dame in five months.
In November last year, Osram announced its dividend for the first time. The annual operating income exceeded 310 million euros (about 2.074 billion yuan). This year, the company's share price has risen by about 24%, and the market value has reached 4.3 billion euros (about 28.773 billion yuan). An analyst told Bloomberg that optoelectronics and professional lighting can provide more value to shareholders.
Klaus Patzak said that OSRAM will analyze the future product structure, but he declined to disclose the company's findings in the strategic review. "We will determine our capital allocation based on which markets OSRAM is active in, and then decide the company based on our capital allocation. The usefulness of the available funds," added Klaus Patzak.
Osram's chief financial officer Klaus Patzak said in an interview with Bloomberg that Osram has already achieved good results by maintaining a city street lighting network and managing complex stadium lighting systems. “The current service market is mainly in the US, but it is a multi-billion dollar industry,†Klaus Patzak said. “This market will grow in double digits in the future.â€
Osram, based in Munich, Germany, has a history of over 100 years and is the world's two largest light source manufacturers with Royal Philips NV. From the sailing hotel in Dubai, the Swedish Malmo Rotating Tower, the Sydney Olympic Stadium, to the Tiananmen Square in Beijing, Osram's products are used in many famous buildings around the world.
Today, OSRAM is facing a transition from producing traditional light bulbs to new lighting products such as LEDs. In the year to September last year, OSRAM's total sales fell 2.8%, and revenues reached 5.1 billion euros (about 34.14 billion yuan).
In January of this year, OSRAM hired Olaf Berlien, former chairman of the technical department of German industrial giant ThyssenKrupp AG, to replace Wolfgang Dehen. Serve as CEO. During Wolfgang's administration of the OSRAM period, the speed of extinction of traditional light bulbs was underestimated, resulting in layoffs of 15,000 when OSRAM was stripped from Siemens.
Today's LED products have a longer life and require less manpower to produce, which is a serious blow to traditional bulb sales. But LEDs are also a necessity for the replacement of some product lighting systems, such as luxury cars and artificial sunlight for healthcare therapy.
In addition to service business and maintenance business, OSRAM also hopes for growth in the automotive industry. Automotive lighting demand helped Osram reduce traditional bulb sales and make profits last year. Klaus Patzak said, "In the 1.1 billion euro (about 7.361 billion yuan) optoelectronic semiconductor sales unit, about 60% of the demand for LEDs comes from the automotive and industrial sectors."
Demand from the automotive industry contributed about 30% of Osram's total revenue, because of the collateral effect and the sales of Osram's traditional light bulb business – many entry-level cars still use traditional bulbs like halogen lamps.
Osram has been competing with Philips for long-term contracts for service and maintenance. In 2013, the Washington Transportation Bureau signed a long-term contract with Philips to upgrade 13,000 bulbs in the parking lot, and the latter was responsible for its 10-year maintenance.
Osram announced in 2013 that it will design and equip the 7000-inch sports lighting fixtures at the Sistine Chapel in Vatican, Rome. Philips was not to be outdone, and announced the installation contract for the 400-inch luminaire of Notre Dame in five months.
In November last year, Osram announced its dividend for the first time. The annual operating income exceeded 310 million euros (about 2.074 billion yuan). This year, the company's share price has risen by about 24%, and the market value has reached 4.3 billion euros (about 28.773 billion yuan). An analyst told Bloomberg that optoelectronics and professional lighting can provide more value to shareholders.
Klaus Patzak said that OSRAM will analyze the future product structure, but he declined to disclose the company's findings in the strategic review. "We will determine our capital allocation based on which markets OSRAM is active in, and then decide the company based on our capital allocation. The usefulness of the available funds," added Klaus Patzak.
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