2 Min Read
* Osram raises forecast for FY comp revenues, EBITDA margin
* Now sees revs up 7-9 pct vs previous forecast for 5-7 pct
* Sees adj EBITDA margin of 16.5-17.5 pct vs more than 16 pct
* Q2 revs up 9.7 pct, EBITDA margin at 17.4 pct
* Shares rise almost 3 pct, hit record high (Adds revenue figures, shares, background)
FRANKFURT, May 2 (Reuters) - German lighting group Osram hiked its guidance on Tuesday for its financial year to September and reported a 10 percent rise in revenues in its second quarter, pushing its shares to a record high.
The Munich-based group said it now expected its revenues to grow by 7 to 9 percent on a comparable basis in its full fiscal year through the end of September, compared with previous guidance of 5 to 7 percent.
Its margin on adjusted earnings, before interest, tax, depreciation and amortisation (EBITDA), or core profit, should come to between 16.5 an 17.5 percent, up from a previous forecast of at least 16 percent, it said in a statement.
The group reported fiscal second-quarter revenues that were up nearly 10 percent at 1.05 billion euros ($1.2 billion), beating analyst consensus for 1.02 billion in a Reuters poll. Its underlying operating margin came to 17.4 percent.
Shares in Osram, which have gained around a quarter so far this year, rose by nearly 3 percent to a record level of 63.30 euros in afternoon trade.
The group had dismayed many of its investors when it announced in 2015 a billion-euro investment in a new light-emitting diode (LED) semiconductor plant in Malaysia. But it has seen strong demand, for instance, for infrared LEDs used for applications including iris scanning and driver assistance.
Osram, 17-percent owned by its former parent Siemens , is due to publish preliminary results on Wednesday and its full quarterly report on May 12.
$1 = 0.9168 euros Reporting by Maria Sheahan; Editing by Harro ten Wolde and Edmund Blair