Press Release
Signify provides update on its performance in Q4 2022
Eindhoven,
During the fourth quarter, Signify experienced a stronger than anticipated deterioration of its business in
While the gross margin stabilized, fixed costs did not keep pace with lower sales volumes. Signify therefore expects an Adjusted EBITA margin of approximately 10% for both the fourth quarter and the full year 2022. This compares with the previous full-year guidance of the lower end of the 11.0-11.4% range.
During the final quarter, Signify significantly reduced its inventory, leading to a better than expected working capital performance. The company now expects to report a full year 2022 free cash flow of approximately
Signify will publish its fourth quarter and full-year results 2022 on
--- END ---
For further information, please contact:
Signify Investor Relations
Tel: +31 6 1801 7131
E-mail: thelke.gerdes@signify.com
Tel: +31 6 3928 0201
E-mail: leanne.carmody@signify.com
Tel: +31 6 2939 3895
E-mail: abigail.levene@signify.com
Financial calendar 2023
January 27, 2023 Fourth quarter and full-year results 2022
February 28, 2023 Annual Report 2022
May 3, 2023 Q1 results 2023
July 28, 2023 Q2 and half-year results 2023
October 27, 2023 Q3 results 2023
About Signify
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. In 2021, we had sales of
Forward-Looking Statements
This release contains forward-looking statements that reflect the intentions, beliefs or current expectations and projections of
Non-IFRS Financial Measures
This release contains non-IFRS financial measures and ratios, such as comparable sales growth, adjusted gross margin, EBITA, adjusted EBITA, and free cash flow, and other related ratios, which are not recognized measures of financial performance or liquidity under IFRS. The non-IFRS financial measures presented are measures used by management to monitor the underlying performance of the Group’s business and operations and, accordingly, they have not been audited nor reviewed. Not all companies calculate non-IFRS financial measures in the same manner or on a consistent basis and these measures and ratios may not be comparable to measures used by other companies under the same or similar names. For further information on non-IFRS financial measures, see “Chapter 18 Reconciliation of non-IFRS measures” in the Annual Report 2021.
Market Abuse Regulation
This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Attachment
- 20230112_Signify provides update on its performance in Q4 2022
© OMX, source