On Friday when it published its Q1 results Signify announced the appointment of Zeljko Kosanovic, its current CFO, as interim CEO.
The announcement comes as Eric Rondolat, who has led the Dutch lighting specialist since its split from Philips in 2018, is set to leave the company following today's annual general meeting.
In a statement, the Eindhoven-based group said that the identification of internal and external candidates is now almost complete and that it expects to complete the recruitment process next month.
Signify's Q1 revenue declined by 1.3% to €1.45bn, while its adjusted operating margin (EBITA) fell to 8% from 8.3% a year earlier.
However, net profit rose to €67m, compared with €44m a year earlier, with free cash flow of €40m, compared with €80m in Q1 2024.
For 2025, Signify says it expects adjusted operating margin to be stable compared to 2024, with the strength of its professional, consumer and OEM (manufacturers) businesses more than offsetting the weakness of its conventional activities.
On the Amsterdam Stock Exchange, the stock rose 0.9% following these announcements, but is still down over 11% YTD.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
Signify N.V. is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Its Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. Signify N.V. has 29,459 employees and operates in 74 countries. The company unlocks the extraordinary potential of light for brighter lives and a better world. Net sales break down by family of products as follows:
- luminaires and lighting systems for professionals (64%): to Public, Office & Industry and Retail & Hospitality;
- LED lamps, functional domestic luminaires and connected home lighting (21.1%);
- conventional lamps and professional electronics (14.2%);
- other (0.7%).
Net sales are distributed geographically as follows: the Netherlands (8.3%), the United States (34.1%), China (6.2%), Germany (5.6%) and others (45.8%).
This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
