Signify Reports Financial Results for Q3 2018

Signify reported a challenging third quarter for 2018, with sales totaling EUR 1.6 billion (US$ 1.82 billion), reflecting a 5.3% decline year-over-year. Despite this dip, LED-based products accounted for 70% of total sales and saw a slight growth of 0.1% compared to the previous year. The company’s net income fell by 15.1% year-over-year to EUR 93 million (US$ 105.85 million). CEO Eric Rondolat attributed the sales decline to difficult market conditions and a high comparison base from the previous year, yet expressed optimism for improving profitability and margins through cost-saving measures. Signify plans to focus on growth and innovation, particularly in smart and connected lighting, while maintaining expectations for comparable sales growth in the latter half of the year.

Signify Reports Financial Results for Q3 2018

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