Signify N.V. (LIGHT.AS,SFFYF) on Friday posted lower second quarter net income, impacted mainly by lower operating income and higher adjusted items. Sales also declined from last year. Looking ahead, the company reiterated its sales outlook for fiscal 2025.
The Dutch lighting corporation reported second-quarter net income of 57 million euros, down 10.6 percent from 63 million euros in the same period last year. On a per share basis, basic earnings declined to 0.44 euro from 0.49 euro in the year-ago quarter.
During the three-month period, sales came in at 1.42 billion euros, a 4.4 percent drop from 1.48 billion euros in the second quarter of 2024. The company said that sales were impacted by a negative currency effect of 3 percent, mainly related to the depreciation of the US Dollar and Chinese Yuan. Comparable sales for the period fell 1.4 percent from last year.
According to Signify, EBITA for the second quarter fell 15.2 percent to 97 million euros from 115 million euros in the prior-year period. Adjusted EBITA also declined 6.5 percent to 110 million euros from 118 million euros a year ago.
Looking ahead, the company reaffirmed its fiscal 2025 outlook of low-single digit comparable sales and a free cash flow generation of 7 percent to 8 percent of sales. Signify also added a range to its EBITA margin guidance of 9.6 percent to 9.9 percent.
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