Smart Buildings

Signify Lighting Business and Financials 2023 Examined

In this Research Note, we examine the lighting business of Signify, based on their 2023 annual results announced on 26th January 2024, investor presentations and connected lighting technology-related activities throughout the last 12 months. This is an update on our previous coverage of Signify last year. Signify (Euronext: LIGHT), headquartered in Eindhoven, the Netherlands, is the global vendor of conventional lighting, LED and connected lighting, with approximately 32,000 employees and a presence in over 70 countries. The business reported 2023 sales of EUR 6.7 billion on 26th January 2024. LED-based solutions and products represented 87% of total sales. Signify Financials Full-year sales decreased by 10.8% to EUR 6,704 million, including a negative currency effect of 3.3%, mainly due to the depreciation of the USD and CNY, and a positive effect of 0.8% from the consolidation of Fluence, Pierlite and Intelligent Lighting Controls. Comparable sales declined by 8.3%, mainly due to weakness in consumer, OEM and […]

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