Signify Maintains Profitable in 2Q20 and Increases UVC Light Capacity

Signify announced the company’s 2020 second quarter results with sales of EUR 1.469 billion (US$ 1.7 billion). Comparable sales decreased by 22.5% due to the COVID-19 impact. However, the company still managed to maintain a profitable adjusted EBITA margin of 9%.

(Image: Signify)

The company also reported a net income of EUR 81 million (US$ 94.03 million) which increased by 61.5% YoY as a result of lower restructuring costs and one-time non-cash tax benefits from changes in the organizational structure.

LED-based sales accounted for 80% of total sales of Signify with its digital products and solutions. Meanwhile, conventional products also showed solid performance with strong demands for UVC lighting and horticulture lighting.

The COVID-19 pandemic has boosted the demand for disinfecting applications, consequently, Signify invested in UVC products to meet the needs. The company has expended its UVC product families for air, surfaces and objects disinfection for professional markets. Signify also acquired GLA to complement portfolio with upper-room air disinfection luminaires.

As for second half of the year, Signify did not provide further financial guidance given the persistent uncertainty about the future course of the pandemic, and the length and depth of the impact on the global economy.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein

Proprietary Rights


You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.