ams AG

ams AG Earnings Recaps

AMS.SW Information Technology 2 recaps
Q1 2026 May 9, 2026

The stock surged 35.7% following a better-than-expected quarter fueled by solid revenue growth in the semiconductor core portfolio and strong margin performance in key segments, signaling investor confidence in the company’s Digital Photonics realignment and ongoing strategic progress.

Key takeaways
  • Group revenue reached EUR 796 million, positioned within the upper half of guidance, with a like-for-like core portfolio growth of 9% year-on-year.
  • Adjusted EBITDA margin hit 16.5%, at the upper end of guidance, driven mainly by the OS division and automotive lamps.
  • Digital Photonics milestones advanced with portfolio expansion for AI-enabled augmented reality smart glasses and a new AI photonics development agreement targeting hyperscale data centers.
  • Divestment proceeds from the Entertainment & Industrial lamps sale boosted cash flow, offsetting elevated seasonal interest payments; positive free cash flow was delivered in Q1.
  • The revenue decline year-on-year was primarily due to FX headwinds from a weaker U.S. dollar and the deconsolidation of specialty lamp business; underlying operational performance showed solid momentum across automotive, industrial, and consumer segments.
Full recap
Q3 2025 Nov 18, 2025

The company reported strong third-quarter performance for fiscal 2025, driven by solid cash flow and notable growth in its semiconductor segment, despite headwinds from a weaker U.S. dollar.

Key takeaways
  • Revenues reached EUR 853 million, exceeding guidance midpoint, with nearly a 10% increase in the semiconductor business.
  • Adjusted EBITDA margin improved to 19.5%, driven partly by a one-off profit from asset sales.
  • The traditional Auto Lamps business experienced a 13% quarter-over-quarter revenue increase due to seasonal demand.
  • Like-for-like revenue growth of approximately 6% year-over-year indicates strong underlying portfolio performance.
  • Design wins across multiple verticals are expected to contribute significantly to mid-term growth, with a target accumulated lifetime value of EUR 5 billion for the year.
Full recap