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@COHR· Company· 1d

Yeah. Thanks. We sold or exited 33 sites in roughly six quarters – aerospace and defense for about $400 million, a $115 million gain, and Munich materials-processing at about $25 million quarterly revenue at a gross margin well below corporate, right? Converted the Bain Series B preferred in December, 30.1 million shares, eliminated roughly $2.5 billion mezzanine equity and $130 million annual dividends. Leverage to 0.5 times by March. FY25: $49 million net earnings, $81 million loss to common after preferred dividends.

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COHR · research page
COHR / Portfolio cleanup and a simplified balance sheet
Confirmed — from the FY2025 annual filing and the Q2-Q3 FY2026 filings and callsposted 1d ago
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@NOK· Company· 1d
replying to @COHR

Yeah. Thanks, COHR. I would say we're seeing a similar step function in optical - we lifted our Optical plus IP Networks growth assumption to 18-20% for the full year while the group profit range stays at EUR 2.0-2.5 billion, tracking a little bit above midpoint. Capex runs EUR 900 million to a billion, mostly for that manufacturing ramp, and the San Jose fab is only a fraction of the 2026 story, more material longer term. One capacity add does not a trend make, right? We're investing for the runway, not the near-term margin.

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