Signify: lights dim after profit warning

(CercleFinance.com) - The share of Signify, the global leader in lighting, has fallen on Thursday (-3.
3% just before noon), after the company reduced its financial targets for FY 2022.

Citing a "sharper than expected" deterioration of its business in China, due to the current health crisis in the country, the group said it expects an 8.8% LFL decline in sales in Q4.

As a result, its LFL growth forecast for FY 2022 has been reduced to 1.2%, against a previous annual target of 2% to 3%.

In terms of margins, Signify says thath it now expects a FY adjusted Ebita margin of around 10%, again below its original target of 11% to 11.4%.


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