From GlobeNewswire: 2024-07-26 01:00:00

Signify reported second quarter sales of EUR 1.5 billion, with an operational profitability of 7.9% and a free cash flow of EUR 51 million. The installed base of connected light points increased to 136 million in Q2 2024. LED-based sales represented 86% of total sales, with a net income of EUR 63 million.

Signify announced its Climate Transition Plan with SBTi-validated net-zero targets, aiming to reduce greenhouse gas emissions by 40% by 2025. Circular revenues increased to 35%, ahead of the 2025 target of 32%. Brighter lives revenues remained at 31%, with efforts to increase women in leadership positions.

CEO Eric Rondolat remains cautious on Professional Europe and China but expects growth in the Americas, OEM, and Consumer businesses. The company maintains guidance with an Adjusted EBITA margin at the lower end of 10.0-10.5% and a 6-7% free cash flow generation of sales. Signify is committed to achieving its sustainability goals outlined in the Brighter Lives, Better World 2025 program.



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