March 18, 2020 / 4:47 PM / 21 days ago

Lighting group Osram withdraws earnings guidance

BERLIN, March 18 (Reuters) - German lighting group Osram , which is being acquired by Austrian sensor maker AMS , on Wednesday withdrew its guidance for the 2020 financial year because of the coronavirus.

An Osram statement said that the pandemic would affect demand in its semiconductor and automotive business units, which accounted for more than half of its sales in 2019, but said it could not yet reliably quantify the economic impact.

The company added that it is considering introducing short-time working at some locations and closing some of its production facilities. (Reporting by Emma Thomasson Editing by David Goodman )

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