Signify Reports Third Quarter Sales

LDS 7 CS Signify 400

Nov 10, 2020

Signify has released the company’s 2020 third quarter results.

“We are very proud of our carbon neutrality achievement in Q3 and of the launch of our new sustainability program aimed at doubling our positive impact on the environment and society in 2025. Amidst difficult market dynamics caused by the COVID-19 pandemic, this financial quarter we are reporting yet another resilient performance underpinned by our consumer and connected lighting. Our gross margin improvement, through rigorous price management, translated into a higher operational margin. Our discipline in working capital management allowed us to generate a solid free cash flow for the quarter, while as previously announced, we reduced our debt by EUR 350 million,” said CEO Eric Rondolat.

“Given the acceleration of the pandemic in many regions, we remain cautious about market developments, but confident in our ability to further adapt, which we have demonstrated since the beginning of the year. Our teams remain focused on making continued good progress on the integration of Cooper Lighting and Klite, while relentlessly driving our growth platforms to develop new business opportunities in line with our strategy.”

Outlook

Given recent developments of the pandemic, Signify does not provide financial guidance for full year 2020. Signify remains confident in the underlying resilience of its businesses and operating model, and that its liquidity needs are well covered by the financial framework it has in place. During the virtual Capital Markets Day 2020, which is scheduled on December 9, Signify will provide more details on its expectations for the medium-term. 

-Signify’s installed base of connected light points increased from 64 million in Q2 20 to 71 million in Q3 20

-Sales of EUR 1,728 million, nominal sales growth of 12.1% and CSG of -8.3%

-LED-based sales represented 82% of total sales (Q3 19: 81%)

-Adj. indirect costs down EUR 22 million, or -4.9% excl. FX effects and changes in scope2

-Adj. EBITA margin increased by 50 bps to 11.5%, including currency impact of -30 bps

-Adj. EBITA margin of the growing profit engines increased by 130 bps to 12.3%

-Net income of EUR 90 million (Q3 19: EUR 74 million)

-Free cash flow increased to EUR 214 million (Q3 19: EUR 45 million)

-Cooper Lighting integration and synergies ahead of plan

-Achieved carbon neutrality and set course to double positive impact on environment and society in 2025

-Debt prepayment of EUR 350 million to reduce overall gross debt position; net leverage at 2.2x

Go HERE for the full report

Related Articles


Changing Scene

  • LEDVANCE Expands Ontario Presence with New Specification Agent

    LEDVANCE Expands Ontario Presence with New Specification Agent

    LEDVANCE is pleased to announce the appointment of Sterling Architectural Products Ltd. (Sterling Lights) as their new specification agent in Ontario. This partnership strengthens LEDVANCE’s presence in the region and reinforces their commitment to serving the professional lighting design and specification community with innovative, reliable lighting solutions. With decades of experience and a service-driven mindset,… Read More…

  • May 29, 2025 - Eureka Wins Three 2025 Red Dot Awards for Product Design

    Eureka Wins Three 2025 Red Dot Awards for Product Design

    Eureka is pleased to announce that its Velia, Cirra, and Junction luminaires have each received a 2025 Red Dot Design Award for Product Design. It is the 11th consecutive year that Eureka products have been honored with this prestigious award, which is a testament to the company’s consistency and relentless drive to design exceptional luminaires.… Read More…


Design

  • What is Human Centric Lighting: Benefits & Applications

    What is Human Centric Lighting: Benefits & Applications

    Human centric lighting (HCL) is a kind of illuminated way based on human physical and psychological needs. Its core goal is to imitate the changes in natural light to support the body’s circadian rhythm, improve visual comfort, and enhance mood. The key element of human centric lighting contains dynamic ​color temperature adjustment, adjustable brightness, spectrum… Read More…

  • Mac’s II Agencies: Case Study – Tesoro, Vancouver, BC

    Mac’s II Agencies: Case Study – Tesoro, Vancouver, BC

    At the crest of False Creek, Tesoro stands as a contemporary interpretation of classic luxury, offering 92 exclusive waterfront homes in the heart of Vancouver. Developed by Concert Properties, this 17-story residential tower embraces a distinctly modern character, harmonizing sleek design with timeless sophistication. The vision for Tesoro extended beyond its architectural presence—it was about… Read More…


New Products

  • GVA Lighting: PIXEL GEN2 COLOR CHANGING

    GVA Lighting: PIXEL GEN2 COLOR CHANGING

    PIXEL GEN2 is the second generation of the direct-view PIXEL series, designed for dynamic color effects, low-resolution image displays, and media façades. Built on the award-winning COLOR-STREAM platform, it delivers 16X faster communication than DMX, ensuring ultra-smooth dimming and real-time responsiveness. With INFINITY technology, PIXEL GEN2 supports lighting circuits of up to 1,565 PIXELs, providing… Read More…

  • Cyclone Lighting Introduces New Taji Luminaire

    Cyclone Lighting Introduces New Taji Luminaire

    Cyclone Lighting is excited to announce the release of its new Taji luminaire. Taji’s captivating design features high-performance optics and enhances a variety of aesthetics. Taji’s distinctive, stylish silhouette and slender lines are a refreshing departure from the ubiquitous dome luminaire. The unique flared form maintains a slender, minimalist feel yet provides high-performance optics. The… Read More…