Monday, November 11, 2024

Signify Announces Third Quarter Revenue of €1.5 Billion

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Signify, the global leader in lighting, reported third-quarter 2024 sales of EUR 1.5 billion, reflecting a nominal decline of 6.8% compared to the previous year. The company’s adjusted EBITA margin stood at 10.5%, alongside a net income of EUR 108 million, an increase from EUR 83 million in Q3 2023. Free cash flow was reported at EUR 119 million. CEO Eric Rondolat highlighted improvements in comparable sales growth, particularly within the Professional and OEM sectors, despite challenges in their Conventional business and a sluggish Chinese market. Notably, LED-based sales accounted for 90% of total revenue, showcasing the company’s commitment to sustainability through its Brighter Lives, Better World 2025 program. Signify remains focused on achieving its adjusted EBITA margin and free cash flow goals for the year.

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