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    LIGHT   NL0011821392

SIGNIFY N.V.

(LIGHT)
  Report
Real-time Quote. Real-time Euronext Amsterdam - 09/27 11:35:22 am
42.78 EUR   -1.22%
09/15SIGNIFY N : Enhancing driver experience and safety
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09/03SIGNIFY N : unveils easy-to-use WiZ smart lighting products
PU
09/02SIGNIFY : Berenberg maintains a Buy rating
MD
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Signify N : Light-maker Signify shares dip as parts shortage dims output

07/23/2021 | 01:43am EDT

* Signify says components shortage to persist in second half

* World's largest lighting maker's Q2 results miss expectations

* Shares drop 9% in early trading

AMSTERDAM, July 23 (Reuters) - Shares of Signify fell as much as 9% early on Friday as the world's largest lighting maker said a lack of parts had reduced output and the problem could persist for many more months.

Other industry executives have already said a semiconductor shortage could last well into 2022, as one-off purchases to meet work-from-home needs drive demand.

Signify has also struggled to source other components, including some metals and plastics.

Chief Executive Eric Rondolat said 85 million euros ($100 million) in sales had been missed in the first six months of the year.

"We could do more if we had more components," Rondolat told reporters. "Recovery could come maybe in the fourth quarter, probably in the beginning of next year. But it's a very tough situation."

Signify shares rallied slightly to trade down 6.5% at 0750 GMT in Amsterdam. They are still up almost 25% since the start of the year after a strong rally in recent months.

"Second quarter results were not as strong as expected (and) Signify mentions supply constraints as a limiting factor," ING analyst Marc Hesselink wrote in a note.

The company, formerly known as Philips Lighting, said comparable sales were up 14% in the second quarter from a year before — when the outbreak of the COVID-19 pandemic caused a deep slump — as consumer demand jumped, especially for networked lights that can be adjusted by mobile phone.

Adjusted earnings before interest, taxes, and amortisation (EBITA) increased 32% to 175 million euros.

The improved results fell short of analyst expectations in a company-compiled poll.

Signify maintained its outlook for a 3% to 6% comparable sales growth for 2021. ($1 = 0.8498 euros) (Reporting by Bart Meijer; Editing by Jacqueline Wong, Uttaresh.V and Barbara Lewis)


ę Reuters 2021
All news about SIGNIFY N.V.
09/15SIGNIFY N : Enhancing driver experience and safety
PU
09/03SIGNIFY N : unveils easy-to-use WiZ smart lighting products
PU
09/02SIGNIFY : Berenberg maintains a Buy rating
MD
09/01SIGNIFY N : Philips Hue innovations blend light, color and sound
PU
09/01FEEL THE MUSIC : Philips Hue + Spotify integration
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08/30SIGNIFY N : Philips LED's most energy-efficient A-class bulbs
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08/26SIGNIFY : Credit Suisse Upgrades to Neutral
MD
07/29SIGNIFY N : Supporting 25,000+ people in Paraisópolis through LEDs
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07/27SIGNIFY N : joins HomeGrid Forum to transform wireless communications through LiFi with Ma..
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07/23GLOBAL MARKETS LIVE : Intel, HoneyWell, American Express, Visa, Twitter...
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Analyst Recommendations on SIGNIFY N.V.
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Financials
Sales 2021 6 869 M 8 030 M 8 030 M
Net income 2021 372 M 435 M 435 M
Net Debt 2021 1 121 M 1 311 M 1 311 M
P/E ratio 2021 14,5x
Yield 2021 3,47%
Capitalization 5 340 M 6 249 M 6 244 M
EV / Sales 2021 0,94x
EV / Sales 2022 0,86x
Nbr of Employees 39 143
Free-Float 92,8%
Chart SIGNIFY N.V.
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Signify N.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends SIGNIFY N.V.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 42,78 €
Average target price 54,73 €
Spread / Average Target 27,9%
EPS Revisions
Managers and Directors
╔ric Rondolat Chief Executive Officer
Engelen Van Chief Financial Officer
Arthur P. M. van der Poel Chairman-Supervisory Board
Tony Thomas Chief Digital & Information Officer
Rita S. Lane Member-Supervisory Board
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