Signify Posts Q2 Sales in Line with Expectations, Upholds 2026 Margin Outlook
Signify Q2 2024 Financial Performance Overview
July 24 (Rtrs) - Signify reported second-quarter sales that met expectations on Friday and confirmed its 2026 profit margin outlook.
The world's biggest lightmaker is still battling weak demand across both its professional and consumer businesses, even as cost cuts and a shrinking workforce help keep its 2026 margin target intact.
Key Financial Highlights
- Q2 sales reached 1.33 billion euros ($1.51 billion) in the April-June period, in line with a company-provided consensus.
Performance by Business Division
-
Professional Business
Signify's Professional business, its largest division, posted sales of 886 million euros, down 4.8% from a year earlier.
-
Consumer Business
The Consumer business, which includes Philips Hue smart lighting products, reported sales of 285 million euros, down 3.7% from a year earlier.
Workforce and Operational Efficiency
Signify had 25,866 employees at the end of June, compared with 26,008 at the end of March and 29,456 a year earlier.
Currency Exchange Rate
($1 = 0.8789 euros)
Reporting Credits
(Reporting by Leo Marchandon and Aleksandra Kret in Gdansk; editing by Bartosz Dabrowski)
