Signify reports third quarter sales of EUR 1.6 billion, operational profitability of 10.7%

Signify announced the company’s third quarter 2023 results. Operating margin and free cash flow growth were in line with expectations. While the cranny sees persistent weakness in China, in the connected consumer and LED electronics businesses, Signify gained market share in the professional segment, driven by strong demand for connected systems and services.

Signify is on track to reduce emissions across the entire value chain by 40% against the 2019 baseline - double the pace required by the Paris Agreement. This is driven by Signify's leadership in energy efficient and connected LED lighting solutions, which significantly reduce emissions during the use phase.

Circular revenues increased to 32%, hitting the 2025 target of 32%. The main contribution was from serviceable and upgradeable luminaires, with a strong performance from Cooper this quarter.

Brighter lives revenues increased to 31%, on track to reach the 2025 target of 32%. This was driven by a strong performance from tunable products that support well-being.