June 28, 2018 / 12:08 PM / 3 months ago

Osram says carmakers pushing back, not cancelling orders

FRANKFURT (Reuters) - Some of Osram’s (OSRn.DE) automotive customers have pushed back but not cancelled their orders amid uncertainty over trade restrictions and a change in lab test standards, the lighting group’s finance chief said on Thursday.

“We see that clients are pushing orders into future months... The most important thing is that nobody is cancelling,” Ingo Bank told analysts during a conference call after Osram issued a profit warning.

He did say, however, that order intake had become more uneven since the start of Osram’s fiscal third quarter, which began at the start of April.

Osram generates around 50 percent of its sales and a large part of its earnings with customers in the automotive industry.

Reporting by Maria Sheahan; Editing by Christoph Steitz

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