Signify: lights switched off after Q2 results

(CercleFinance.com) - Signify shares are down 8% in Amsterdam after the group reported pretty flat net profit of 82 million euros for Q2 2021 (vs.
81 million euros a year ago), with a 190 basis point improvement in its adjusted EBITA margin to 10.9%.

At 1.61 billion euros, the Dutch lighting solutions provider's sales increased by 9.6% in nominal terms and were up 14.1% LFL, with LED core sales accounting for 82% of the total.

Despite uncertainties surrounding the health crisis, Signify still expects an adjusted EBITA margin of between 11.5% and 12.5% for FY 2021, with like-for-like sales growth of between 3% and 6%.


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