Signify: third-quarter sales drop; China hurts
(CercleFinance.com) - Dutch lighting group Signify said its sales dropped in the third quarter, impacted by "more challenging" market conditions, particularly in China.
The company posted sales of 1.6 billion euros for the past quarter, down 5% compared to the 1.7 billion euros reported for the third quarter in 2017.
In comparable terms, sales fell by 3.2%.
Adjusted EBITA rose to 191 million euros, from 176 million euros in 2017, giving an adjusted EBITA margin of 12%, Signify added.
Looking ahead, the company said it expects comparable sales growth in the second half of the year to be similar to the level of the first half.
It also remains confident that it will be able to improve its adjusted EBITA margin to the lower end of the 10%-10.5% range.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company posted sales of 1.6 billion euros for the past quarter, down 5% compared to the 1.7 billion euros reported for the third quarter in 2017.
In comparable terms, sales fell by 3.2%.
Adjusted EBITA rose to 191 million euros, from 176 million euros in 2017, giving an adjusted EBITA margin of 12%, Signify added.
Looking ahead, the company said it expects comparable sales growth in the second half of the year to be similar to the level of the first half.
It also remains confident that it will be able to improve its adjusted EBITA margin to the lower end of the 10%-10.5% range.
Copyright (c) 2018 CercleFinance.com. All rights reserved.