Osram managed the challenges of the changing lighting market very well in the fiscal year that ended in September 2015 and laid a strong foundation for future growth. EBITA1 excluding special items rose 26 percent on a year-on-year basis to €567 million, translating into a margin of 10.2 percent. Cost savings, positive currency effects as well as simplified corporate structures have contributed to this earnings increase. The reported EBITA margin reached 5.3 percent despite high transformation costs, while net income declined to €171 million. Revenue, on the other hand, rose eight percent to almost €5.6 billion. On a comparable basis, i.e., adjusted for portfolio and currency effects, revenue remained almost stable with a decline of around one percent. Based on the current corporate structure, the company expects comparable revenue in fiscal 2016 to be slightly below the prior year’s level. The adjusted EBITA margin is likely to be substantially below the level of fiscal 2015, among other things due to expenses attributable to the “Diamond” innovation and growth initiative. In contrast, net income is expected to increase sharply due to the anticipated book gain from the announced sale of the shares in Foshan Electrical & Lighting Co., Ltd. (Felco). Osram confirms that a dividend of €0.90 per share will be proposed for fiscal 2015 to the Annual General Meeting. For fiscal 2016, the company also intends to pay a dividend of at least €0.90 per share.