OSRAM has always been a presence in my life. We had OSRAM lights at home when I was a boy. During my time at our competitor Philips I kept a close eye on how OSRAM was doing. I was attracted by the idea of working for a company that is so well-known and has such a long history.
But of course the present and future of OSRAM are at least as exciting as its past. OSRAM is undergoing a process of transformation. Previously the capital markets regarded OSRAM as a traditional lighting company. But the sale of LEDVANCE means that the focus is now on the automotive and Opto Semiconductors business. As I see it, my primary job as CFO is to explain this change to the capital markets. The main parameters related to revenue, earnings, and cash flow have changed for OSRAM, as you might expect. What helps me in my work is our role as market leader in the automotive sector and the dominant position of Opto Semiconductors. It is also good that we have clear targets for 2020: Annual revenue of at least €5 billion, EBITDA of up to €1 billion and earnings per share of €5.00 are the cornerstones of our 5.1.5 strategy.
We are explaining to our shareholders the steps that are necessary to achieve these targets. In talks with investors and analysts I am therefore focusing on reliability, honesty, and transparency. A management team that delivers on its promises demonstrates that it knows its company and draws up targets and figures realistically. And finally I want to help my employees to put the new OSRAM strategy successfully into practice – it's a great job to have.