Signify's Q2 adjusted core profit fell below forecasts due to traditional lighting decline and China market softness.
Signify, the largest global lighting manufacturer, reported Q2 adjusted core profit below forecasts due to traditional lighting sector decline and China market softness. EBITA fell 13.2% to €118M ($128.11M), missing average analyst estimate of €138M. Despite challenges, the company's installed base of connected light points reached 136M in Q2, and 86% of sales were LED-based.
July 26, 2024
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