Improved Profitability and Free Cash Flow
Adjusted EBITDA margin improved year-over-year by 50 basis points to 17%. The company turned a negative free cash flow of minus EUR 332 million to a positive EUR 12 million within one year.
Strong Performance in Traditional Halogen Lamp Business
Revenues for the traditional halogen lamp business were up 18% quarter-over-quarter, driven by a strong seasonal aftermarket.
Significant Cost Savings Achieved
The reestablished base strategic efficiency program exceeded fiscal year '24 targets with EUR 110 million in run rate savings implemented, ahead of the EUR 75 million end of '24 target.
Solid Design Wins
The company secured close to EUR 5 billion of design wins in fiscal year '24, maintaining a strong pace similar to 2023.
Positive Outlook for Fiscal Year 2025
The company expects free cash flow to exceed EUR 100 million for fiscal year 2025 and anticipates a stronger second half driven by scheduled project ramps in automotive, industrial, and smartphones.