Signify reports full year sales of €6.4bn

Signify has reported a reasonable set of results for 2018, with full-year sales of €6.4 billion. That represents a like-for-like decrease of 4.4 percent; profits were also down by 4.4 percent to €669 million.

Signify’s installed base of connected light points increased to 44 million, from 30 million at the end of 2017.

But things are obviously going in the right direction. Adjusted EBITA margins improved to 10.1 percent, despite negative impacts from currency conversions; and the Q4 contributions were well ahead of the 2017 figures.

“We continued to make solid progress with our simplification and cost reduction actions in 2018, resulting in a substantial increase in profitability and strong free cash flow delivery,” said CEO Eric Rondolat. These initiatives centre around simplification of the organisation and processes, optimisation of the manufacturing footprint, and cost savings in procurement and the indirect cost base.

“In line with our strategy, our growing profit engines – LED, Professional and Home – have strongly contributed to these improvements,” said Rondolat.

LED-based sales have grown by 2.5 percent and now represent 71 percent of total revenues.

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