AMS Osram - comment

AMS Osram published their Annual Report yesterday, however there is no significant additional information bar what was already reported in their Q4 numbers, in early February. The Company are due to publish their Q1 numbers next Tuesday. As our model shows, FY22 weakness will carry into H1. New management will speak for the first time on the call and will be interesting to hear their tone on the expected recovery later in the year.