Finance
Signify's First-Quarter Sales Fall Due to Weak US Dollar
Published by Global Banking & Finance Review®
Posted on April 24, 2026
2 min readLast updated: April 24, 2026
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Signify’s Q1 nominal sales tumbled 12% year‑on‑year to €1.27 billion, burdened by the weakened U.S. dollar's currency impact. The company upheld its FY core profit margin forecast (7.5–8%) despite refraining from issuing a sales outlook.
Signify's first-quarter sales fall due to weak US dollar
Signify Q1 2024 Financial Performance Overview
Quarterly Sales and Currency Impact
April 24 (Reuters) - The world's biggest lighting maker Signify reported a 12% drop in its quarterly nominal sales to 1.27 billion euros ($1.48 billion) on Friday, dragged by currency effects related to the depreciation of the U.S. dollar.
Profit Margin Guidance and Sales Forecast
The Dutch company confirmed its full-year guidance for a core profit margin of between 7.5% and 8%, but declined to provide a sales forecast.
Market Presence and Strategic Initiatives
Global Operations and Brands
Operating in more than 70 markets with brands such as Philips, Philips Hue, and Color Kinetics, the company faces sluggish global lighting demand while navigating a restructuring programme launched earlier this year. A strategic portfolio review is also underway to reposition Signify for growth.
Net Income and Restructuring Charges
Its net income plunged to 8 million euros from 67 million euros a year ago, mainly due to restructuring charges of 63 million euros linked to the 180-million-euro cost reduction plan announced in January.
Workforce Reduction
Signify reduced its workforce to 26,008 employees by the end of the quarter from 29,697 a year earlier, with most of the cuts tied to factory roles as production volumes dipped.
Currency Exchange Rate
($1 = 0.8563 euros)
Reporting Credits
(Reporting by Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)
Key Takeaways
- •Signify’s Q1 sales slipped by 12%, largely due to adverse currency translation from a weaker U.S. dollar ($1 = €0.8563) (signify.com)
- •The company reaffirmed its full‑year adjusted EBITA margin target of 7.5–8%, yet did not provide a sales forecast amid ongoing currency volatility (signify.com)
- •This follows earlier quarters of declining comparable sales and currency headwinds—Q2 2025 saw a 3% FX hit, and Q3 sales also underperformed amid weak U.S. demand (tradingview.com)
References
Frequently Asked Questions about Signify's first-quarter sales fall due to weak US dollar
1Why did Signify's sales fall in the first quarter?
Signify's sales fell due to negative currency effects from the depreciation of the U.S. dollar.
2How much did Signify's first-quarter sales decline?
Signify's nominal quarterly sales dropped by 12% to 1.27 billion euros.
3Did Signify update its full-year profit guidance?
No, Signify confirmed its full-year core profit margin guidance of 7.5% to 8%.
