The lighting experts of Signify, formerly Philips Lighting, have released their earnings report for 2019. Despite a relatively steady Q4 performance, which saw a nominal increase in sales, 1.4 percent, the annual tally saw a slight downtick by 1.8 percent. Overall, the Eindhoven-based company brought in just under 6.25 billion euros, led by its core LED-based business, which accounts for 78 percent of total sales.
Looking ahead, Signify expects stronger results in 2020. “We’re seeing positive traction from the acquisitions we completed in 2019 and look forward to welcoming Cooper Lighting Solutions in 2020, which will strengthen our market position in North America and our overall business mix,” said CEO Eric Rondolat. “While we continue to face challenging market conditions, we’re confident that our relentless focus on our growth initiatives will further strengthen our market leadership and progressively improve our growth profile.”
This article is exclusively available to premium members of Bits&Chips. Already a premium member? Please log in. Not yet a premium member? Become one for just €20 for the first year and enjoy all the benefits.
