July 21, 2020 / 10:50 AM / 16 days ago

Sensor maker AMS targets revenues of 10 bln euros until 2026 -source

VIENNA, July 21 (Reuters) - Sensor specialist AMS AG , which just closed the takeover of German lighting group Osram, targets 2026 revenues of more than 10 billion euros ($11 billion) 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.”

$1 = 0.8740 euros Reporting by Alexandra Schwarz-Goerlich, writing by Kirsti Knolle, editing by Sabine Wollrab and Madeline Chambers

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