Q1 2025 Signify NV Earnings Call Transcript
Key Points
- Signify NV (PHPPY) reported a sequential improvement in most of its businesses, with a strong contribution from connected offers, increasing the install base of connected light points from EUR126 million in Q1 '24 to EUR153 million.
- The company saw a faster-than-expected return to growth in both professional and consumer segments in China, bringing optimism for the rest of the year.
- Net income improved to EUR67 million compared to EUR44 million in Q1 last year, driven by lower restructuring costs and financial expenses.
- The Consumer business achieved sales growth of 3.1% with a positive contribution from all regions, and the adjusted EBITA margin improved by 40 basis points to 10.8%.
- Signify NV (PHPPY) was ranked 15th globally in the Corporate Knights rankings for the global 100 most sustainable corporations, highlighting its leadership in sustainability.
- Nominal sales decreased by 1.3% to EUR1,448 million, with comparable sales declining by 2.8% due to weakness in the professional Europe and OEM business.
- The adjusted EBITA margin decreased by 30 basis points to 8%, mainly due to adverse absorption of fixed costs and weakness in the high-margin professional business in Europe.
- The OEM business saw a significant decline in comparable sales by 10.7%, attributed to two major customers, with expectations that this effect will persist.
- The Conventional business experienced a decline in comparable sales by 23.9%, reflecting the structural decline of that business.
- The percentage of women in leadership positions decreased by 1% to 27%, which is not in line with the company's 2025 ambitions.
(Operator Instructions)
Hello and welcome to the Signify's first quarter 2025 results conference call hosted by Eric Rondolat, CEO Zeljko Kosanovic, CFO, and Thelke Gerdes, Head of Investor Relations.
(Operator Instructions) And now I'm pleased to have the call over to Thelke Gerdes. Please go ahead, ma'am.
Good morning, everyone, and welcome to Signify's earnings call for the first quarter 2025. With me today are Eric Rondolat, CEO of Signify and Zeljko Kosanovic, CFO.
During this call, Eric will first take you through the first quarter highlights, after which Zeljko will present the company's financial performance. Eric will then come back to discuss the outlook for the remainder of the year. After that, we will be happy to take your questions.
Our press release and presentation were published at 7:00 this morning. Both documents are available for download from our Investor Relations website. The transcript of this conference call will be made available as soon as
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