Signify (Euronext: LIGHT), the world leader in lighting, today announced the company’s third quarter 2024 results.
Eric Rondolat, CEO of Signify, comments:
As anticipated, our comparable sales growth continues to improve sequentially. Our teams are effectively managing the accelerated decline of our Conventional business and continued slowness in the Chinese market, without which the decline would be limited to -1.3% for the third quarter.
In the Professional business, we saw a recovery in agricultural lighting and continued growth for connected, while our European distribution channel remained weak, particularly in Eastern and Southern Europe. Our Consumer business delivered comparable sales growth of 2.6% excluding China, reflecting the recovery of our business across all other regions. Our OEM business demonstrated two consecutive quarters of growth, driven by a stabilization of inventory levels at our customers.
Despite the shrinking contribution of the Conventional business to EBITA, we have maintained a resilient bottom-line as our cost reduction program delivers the expected benefits. Additionally, we delivered strong free cash flow for the quarter, resulting from our ongoing focus on cash conversion.
We are now very focused on our performance for the fourth quarter and confirm our guidance for an adjusted EBITA margin at the lower end of the 10.0-10.5% range and free cash flow generation of 6-7% of sales for 2024.
As we manage down our Conventional business, we are continuing to invest in connected and specialty lighting. These represent approximately 30% of our business and provide an attractive growth opportunities for our Professional, Consumer and OEM Businesses.
The progress we have driven in the past years uniquely positions us to continue to lead our industry as it enters each new phase of innovation. More than ever, the complementary drivers of innovation and sustainability sit at the heart of everything we do, driving growth opportunities that create long-term value for all our stakeholders.”
Brighter Lives, Better World 2025
In the third quarter of the year, Signify continued to progress on its Brighter Lives, Better World 2025 sustainability program commitments that contribute to doubling its positive impact on environment and society.
Double the pace of the Paris Agreement
Signify is ahead of track to reduce emissions across the entire value chain by 40% against the 2019 baseline - double the pace required by the Paris Agreement. This is driven by Signify’s leadership in energy efficient and connected LED lighting solutions, which significantly reduce emissions during the use phase.
Double Circular revenues
Circular revenues increased to 36.7%, up 1.7% over last quarter and surpassing the 2025 target of 32%. The main contribution was from Professional serviceable luminaires in the Americas.
Double Brighter lives revenues
Brighter lives revenues at 31.1%, on track to reach the 2025 target of 32%. This includes a strong contribution from consumer products, mainly EyeComfort that support health and well-being.
Double the percentage of women in leadership
The percentage of women in leadership positions remained at 29.3%, behind the 2025 target of 34%. Signify continues its efforts to increase overall representation through focused hiring practices for diversity across all levels. Focus remains on building strong succession pipelines, and engagement actions to reduce attrition.
Signify (Euronext: LIGHT), the world leader in lighting, invites guests to discover the limitless potential of 3D printing during Dutch Design Week with a bar made from waste materials that serves as a unique space to showcase the brand’s vision for the Future of Lighting Design. Alongside this innovative installation, a stunning new collection of geometric pendants by renowned British designer Sebastian Bergne will also be on display.
3D printed bar to light up the conversation on circularity and the future of lighting
Bio-circular and recycled plastics
Crafted from 3D printed recycled materials, the installation offers visitors a place to engage with representatives from Signify and learn firsthand about the company’s sustainable design processes that reduce CO2 emissions by up to 76% compared to traditional manufacturing techniques. In the past year alone, Signify used an incredible amount of 80 tons of bio-circular and recycled plastics.
The circular 3D printed bar is more than just a visual centrepiece—it is a space intended for meaningful dialogue. Visitors can discover how the 3D printed luminaires of Signify’ s sub brand MyCreation enables seamless customization, making it easier than ever to integrate sustainable designs into large residential, commercial, and retail projects.
MyCreation Presents Gleam by Sebastian Bergne
Opening the conversation on The Future of Lighting Design also marks the launch of the Gleam, MyCreation’s latest collection by acclaimed British industrial designer Sebastian Bergne. Tasked with reinterpreting the simplicity of the classic light bulb, Bergne transforms the glowing pendant globe into a striking seven-sided heptagonal profile.
The collection features two variations—one slightly inflated and the other deflated—both crafted from bio-circular materials. Leveraging the flexibility of 3D printing, Gleam comes in a variety of sizes and textures, each distinguished by horizontal lines that follow the grain of the 3D print, producing a unique lighting effect and atmosphere.
Sebastian Bergne is renowned for transforming everyday objects through his essential and human-centered approach to design. His innovative designs, produced by companies like Luceplan, Pierre Frey, Tolix, Tefal, Muji, De Beers, and Vitra, have earned him prestigious international accolades such as the Red Dot, Design Plus, and iF Product Design Awards.
The Gleam by designer Sebastian Berge
Sebastian BergneIt is an important part of my job as a designer to push for new geometries and redefined icons to accompany our everyday lives and reflect contemporary manufacturing systems.
Designer
The Future of Lighting is here
Signify has taken a significant leap in sustainability, now producing 3Dprinted luminaires with 65% recycled and bio-circular materials—up from 55%.
Collaborating with various industries, they source ISCC Plus certified bio-circular materials, plastics from used cooking oil and forestry by-products, along with post-industrial content like polycarbonate sheets from carports and illuminated advertising. Post-consumer content, such as recycled water jugs in their Water Blue collection, also plays a crucial role. By transforming this waste into filament, Signify drastically reduces the need for virgin materials—a vital move for sustainable lighting.
This and other areas where Signify is leading the charge will be explored during Dutch Design Week in presentations, live talks, and product demonstrations, offering insights into how their approach to recycled materials is shaping the future of lighting design.
On the booth, a series of displays will give a peek into the manufacturing processes, specifically how recycled materials, as well as fewer components, andturn-and-click design are simplifying the assembly process and changing the way consumers think about the products around them. Less screws, no glue—just precision and purpose.
This thoughtful approach simplifies recyclability and aligns with Collection & Recycling Operations (CRO) for end-of-life product management. By reducing waste and enhancing recyclability, Signify is actively fostering a closed-loop system for MyCreation lighting products.
An interactive screen will also demonstrate how professionals and consumers can personalize or simply select their own lighting solutions, emphasizing the ease with which sustainable design can be integrated into everyday projects.
Recent advancements allow MyCreation to integrate multiple functions into single components, such as incorporating strain relief into the luminaire housing, which eliminates the need for extra screws or plastic parts. This innovation results in products with up to 40% fewer components compared to traditional manufacturing methods.
Unlike traditional die-casting methods that rely on metal housings, MyCreation’s 3D printed products are significantly lighter, reducing transport emissions by up to 28%, making the overall production cycle more eco-efficient.
Bart MaeyensSignify is showcasing a new vision, one where sustainability and innovation aren’t about excess but about refining the essentials. It's about stripping back what’s unnecessary—fewer components, fewer emissions, fewer complications—while amplifying the things that matter, like customisation, and rapid order fulfillment.
Head of MyCreation, Signify
Bold Predictions for the Future of Lighting
MyCreation is making big moves when it comes to shaping the landscape of 3Dprinting and lighting. Looking ahead, MyCreation’s focus on sustainability does not stop at the production phase. While recycling programs for their end-of-life products are not yet fully operational, this is largely because products of MyCreation have not yet reached that stage. However, the company has already completed three successful test cases, laying the groundwork for a future where every lamp and luminaire can be reused or recycled at the end of its life cycle.
The most interesting aspect of this passage is how 3D printing revolutionizes the lighting industry from multiple perspectives. For consumers, it offers unprecedented product variety and customization, with options for different sizes and forms that are unattainable through traditional manufacturing. This flexibility translates into more choices for the end user.
For designers, 3D printing provides enhanced flexibility in product creation, even though challenges remain with finish, and certain design constraints, such as the difficulty of printing a perfect sphere. Signify actively addresses these limitations by offering customers the ability to customize and tailor their lighting designs with rapid delivery. This allows for experimentation with shapes and sizes, effectively overcoming traditional constraints and expanding creative possibilities.
From a manufacturer's perspective, 3D printing encourages risk-taking with faster feedback loops—allowing producers to print, test, and iterate more efficiently. The ability to manufacture to order eliminates stockpiling, saving space, money, and energy, which aligns with modern circular business models.
Sebastian BergneFor consumers, the most significant future development in lighting will be greater choice and flexibility. Imagine being able to return a lamp to be 'reformed' into a new design as your needs evolve. The material won't be wasted, but rather reshaped, requiring only minimal energy. In an ideal, digitally-driven system, this process could be both efficient and affordable.
Designer
Bart MaeyensThis sustainable technology will transform the way we select, use, and reuse products. While we are implementing it for lighting, it is bound to be adopted by many other industries. The positive impact is simply too great to ignore.
Head of MyCreation, Signify
Join the Conversation
Signify invites you to join them at their stand to experience the future of lighting up close.
- Location: Klokgebouw Hall 1 | stand number 1.13
- Address: Klokgebouw 50, 5617 AB Eindhoven
Signify (Euronext: LIGHT), the global leader in lighting, is proud to announce the launch of the Signify Lumxpert website and app, an innovative platform for electricians and professional installers. With this new expansion, Signify Lumxpert is now available both as a web version as well as the existing mobile app, accessible for free on the App Store and Google Play Store.
The Signify Lumxpert platform provides immediate access to an extensive catalogue of Philips and Ecolink products, with the participation of the main distributors in the market. This allows installers to access the best products available, guaranteeing high quality projects and competitive costs. In addition, users can enjoy a 25% discount on their first purchase and get the best prices for registered users, representing significant savings for professionals in the sector.
On the platform, installers can also benefit from immediate financing options of up to £ 10,000 with a term of 30 days, allowing them to manage their resources more efficiently. Product delivery takes place within 24 to 48 hours, ensuring that professionals can plan and execute their projects quickly and effectively.
Signify Lumxpert sets itself apart by offering personalised customer service through its lighting experts, who are always on hand to give advice via WhatsApp. The platform also includes a real-time lighting calculation function, helping to optimise project planning and execution. In addition, after-sales service is offered, providing continuous support to customers after completing their purchases.
Another highlight of the new Signify Lumxpert website is its price comparison tool from leading wholesalers, which enables users to make informed decisions to ensure they get the best prices available. This price transparency and ease of comparison reinforce Signify’s commitment to customer satisfaction and operational efficiency.
The launch of the Signify Lumxpert website represents a significant step forward in the digitalisation and professionalisation of the lighting industry. With a clear focus on meeting the needs of installers, Signify reaffirms its leadership in the future of professional lighting.
The app enables users to find lighting products from the Philips brand by category or application and purchase directly from wholesalers with transparent pricing and delivery times. Additionally, it enables project management and professional lighting calculations using the simple design tool integrated into the app. LumXpert provides attractive financing options for lighting professionals and direct access to customer service experts, among other features
To explore the new Signify Lumxpert website and find out how it can transform your business, visit https://www.lumxpert.signify.com/en-gb or download the mobile app from the App Store or Google Play Store.
Signify (Euronext: LIGHT), the world leader in lighting, today announces a new partnership with the Mercedes-AMG PETRONAS F1 Team. Connected by their shared passion for technological innovation and sustainability the partnership will drive forward the team's vision of becoming one of the world’s most sustainable professional sports teams.
Eric RondolatWe are proud to partner with Mercedes-AMG PETRONAS F1, a team that is determined to lead both on and off the track. We share a passion for responsible innovation to drive progress in our industries and beyond. Our joint commitment to act responsibly will lead us to develop transformative and disruptive new technologies that elevate performance to the benefit of people and the planet.
CEO, Signify
Eric Rondolat, CEO, Signify, continued:
“We are excited to have the opportunity to support the winning objective of Mercedes-AMG PETRONAS F1, providing human-centric lighting innovations that can enhance the team’s performance. We are honored to associate our brands with one of the strongest in the world and to deliver unforgettable racing experiences for fans at the track, as well as watching and gaming at home. With many collaborations already begun, I am eager to see this partnership grow.”
Toto Wolff, Team Principal and CEO, Mercedes-AMG PETRONAS F1 Team, commented:
“Innovation and performance are at the heart of everything we do. We are also conscious of our wider social responsibilities and therefore embed sustainability in every action. Partnering with Signify is an exciting step that will help us make further progress in both of these areas. Their world-leading lighting technology already powers several night races and their pioneering commitment to climate action is inspiring. We look forward to working together to establish synergies in this area and their support in our ambition to become one of the world's most sustainable sports teams. We also believe that well-being is linked closely with performance. Signify's lighting technology and innovation will ensure optimal conditions for our team members, and we are excited to explore how we can optimise these opportunities further.”
Richard Sanders, Chief Commercial Officer, Mercedes-AMG PETRONAS F1 Team, added:
“We are thrilled to welcome Signify into our partner family. We are already privileged to collaborate with some of the most innovative companies in the world. Adding another world-leading business to our partner ecosystem in Signify is therefore fantastic. We are excited to collaborate with them through their innovative technology and commitment to sustainability. Together, we are confident that we will create a partnership with a profound impact and lasting legacy.”
Signify and Mercedes-AMG PETRONAS F1 are committed to responsible innovation, founded on a shared belief that performance should not come at any cost and that sustainability does not compromise on performance. As both teams continue to drive the transformation of their industries, responsible innovation elevates performance and leads to sustainable outcomes.
Environmental responsibility
Signify has led the transformation and decarbonization of the lighting sector, and recently announced its 2040 Climate Transition Plan, setting out its vision to reach net-zero by 2040. The company has reduced GHG emissions across the full value chain by 50% since 2019 and continues to advocate for energy efficiency and an accelerated energy transition. With the new partnership, comes a commitment from Signify to share knowledge and expertise to support Mercedes-AMG PETRONAS F1 Team in developing its Climate Transition Plan.
Well-being and performance
To win in Formula One, every member of the team must perform to their full potential at every moment. Signify’s lighting innovations will augment the team’s efforts to create optimal conditions for drivers, engineers and team members, helping them see, feel, and perform at their best. NatureConnect, EyeComfort and other technologies will bring the power of daylight indoors to aid concentration with light that is comfortable for the eyes and, support the body’s natural rhythm and ability to adjust to a challenging global schedule.
Unforgettable experiences
Our lighting shines on night-circuits in Singapore and Las Vegas, ensuring the fastest show on earth is perfectly lit. And for those not at the track, Signify delivers immersive TV and gaming surround lighting to transport fans at home to the heart of the action.
Signify (Euronext: LIGHT), the world leader in lighting, today announces a new partnership with the Mercedes-AMG PETRONAS F1 Team. Connected by their shared passion for technological innovation and sustainability the partnership will drive forward the team's vision of becoming one of the world’s most sustainable professional sports teams.
Eric RondolatWe are proud to partner with Mercedes-AMG PETRONAS F1, a team that is determined to lead both on and off the track. We share a passion for responsible innovation to drive progress in our industries and beyond. Our joint commitment to act responsibly will lead us to develop transformative and disruptive new technologies that elevate performance to the benefit of people and the planet.
CEO, Signify
Eric Rondolat, CEO, Signify, continued:
We are excited to have the opportunity to support the winning objective of Mercedes-AMG PETRONAS F1, providing human-centric lighting innovations that can enhance the team’s performance. We are honored to associate our brands with one of the strongest in the world and to deliver unforgettable racing experiences for fans at the track, as well as watching and gaming at home. With many collaborations already begun, I am eager to see this partnership grow.
Toto Wolff, Team Principal and CEO, Mercedes-AMG PETRONAS F1 Team, commented:
Innovation and performance are at the heart of everything we do. We are also conscious of our wider social responsibilities and therefore embed sustainability in every action. Partnering with Signify is an exciting step that will help us make further progress in both of these areas. Their world-leading lighting technology already powers several night races and their pioneering commitment to climate action is inspiring. We look forward to working together to establish synergies in this area and their support in our ambition to become one of the world's most sustainable sports teams. We also believe that well-being is linked closely with performance. Signify's lighting technology and innovation will ensure optimal conditions for our team members, and we are excited to explore how we can optimise these opportunities further.
Richard Sanders, Chief Commercial Officer, Mercedes-AMG PETRONAS F1 Team, added:
We are thrilled to welcome Signify into our partner family. We are already privileged to collaborate with some of the most innovative companies in the world. Adding another world-leading business to our partner ecosystem in Signify is therefore fantastic. We are excited to collaborate with them through their innovative technology and commitment to sustainability. Together, we are confident that we will create a partnership with a profound impact and lasting legacy.
Signify and Mercedes-AMG PETRONAS F1 are committed to responsible innovation, founded on a shared belief that performance should not come at any cost and that sustainability does not compromise on performance. As both teams continue to drive the transformation of their industries, responsible innovation elevates performance and leads to sustainable outcomes.
Environmental responsibility
Signify has led the transformation and decarbonization of the lighting sector, and recently announced its 2040 Climate Transition Plan, setting out its vision to reach net-zero by 2040. The company has reduced GHG emissions across the full value chain by 50% since 2019 and continues to advocate for energy efficiency and an accelerated energy transition. With the new partnership, comes a commitment from Signify to share knowledge and expertise to support Mercedes-AMG PETRONAS F1 Team in developing its Climate Transition Plan.
Well-being and performance
To win in Formula One, every member of the team must perform to their full potential at every moment. Signify’s lighting innovations will augment the team’s efforts to create optimal conditions for drivers, engineers and team members, helping them see, feel, and perform at their best. NatureConnect, EyeComfort and other technologies will bring the power of daylight indoors to aid concentration with light that is comfortable for the eyes and, support the body’s natural rhythm and ability to adjust to a challenging global schedule.
Unforgettable experiences
Our lighting shines on night-circuits in Singapore and Las Vegas, ensuring the fastest show on earth is perfectly lit. And for those not at the track, Signify delivers immersive TV and gaming surround lighting to transport fans at home to the heart of the action.
At the production base of a Dutch company in east China's Jiangxi Province, workers are fully immersed in light-bulb production, while automated guided vehicles move through the aisles carrying products.
"Over the past month, we sold more than 10 containers of bulbs per day, and each container was loaded with 40,000 to 600,000 bulbs," said Ji Yilan, an employee of the LED lighting production base in the city of Ruichang. The facility belongs to Signify N.V., a Dutch lighting multinational, formerly Philips Lighting N.V.
According to Ji, the finished bulb products will be sold and shipped to over 10 countries, including the United States, Poland, Japan and Malaysia.
Having been in the Chinese market for many years, Signify has always regarded China as its "second homeland," where it has established close connections with local governments, suppliers and clients, according to Eric Rondolat, CEO of Signify.
Today, Signify boasts nine manufacturing factories and a major research and development (R&D) center in China.
With an investment of 2.8 billion yuan (about 393.55 million U.S. dollars), the Ruichang base covers a plant area of 200,000 square meters and houses 213 production lines, 70 percent of which are automated. Eighty percent of the output has been exported to the international market.
In the first quarter of 2024, the output value of the base reached 300 million yuan, and once the full production capacity and standard are reached in 2025, the annual output value is expected to exceed 5 billion yuan.
According to Rondolat, it is the dedication and work efficiency of Ruichang's government that attracted the company to the city. It took just 13 months to take the base from starting construction to going into operation.
Ruichang has a considerable advantage in labor resources, land prices and infrastructure construction.
"Our base has over 3,000 employees, of which local employees account for 90 percent," said Ji, adding that Ruichang is located in the Yangtze River Economic Belt, and boasts developed supply chains and logistics, meeting the demands of the global market.
Rondolat also highlighted China's policy support. In 2023, the country renewed the Catalogue of Industries Encouraged for Foreign Investment by adding 239 items, marking a record high.
"The increase in items on the list speaks volumes about the great importance that China has attached to its development and foreign investment," Rondolat said.
According to Ji, the Ruichang base plans to build digital, intelligent factories to cut costs, improve efficiency and explore new markets.
"The plant is undergoing unmanned workshop renovation, and it is expected to save 10 million yuan in costs after completing construction at the end of this year," said Ji, adding that new products will be developed to meet the diverse needs of consumers.
"Every time I came to China, I would visit some places. I have witnessed the rapid development of the country," said Rondolat, adding that Signify will continue to expand its investment in China in terms of production capacity, R&D and talent.
Source: Xinhua
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, announces that it is expanding its climate action with ambitious new Net Zero emissions reduction targets. The company has introduced a 2040 net-zero target and a commitment to reduce absolute scope 1, 2 and 3 greenhouse gas (GHG) emissions by 90% without the use of carbon credits. These targets have been reviewed and validated by the Science Based Targets initiative (SBTi).
Maurice LoosschilderWe believe we have an important role to play in the transformation toward a low-carbon economy. Our dedication to sustainable innovation has enabled us to continuously break through energy efficiency technology barriers with our LED products and connected systems.
Global Head of Sustainability at Signify
“Absolute emissions reduction has always been the backbone of our climate action. We have reduced more than 75% of our operational carbon footprint since 2010. Through the combination of radical improvements in the efficiency of our products and hundreds of initiatives implemented in factories, offices, and across our operations, we have reduced our full scope greenhouse gas emissions by half since 2019.”
In 2019, Signify became one of the first 30 companies worldwide to have its carbon emissions reduction targets validated by the SBTi to be aligned with the 1.5°C pathway. Having surpassed its 2025 targets, Signify has set further near- and long-term reduction targets and will be introducing a detailed Climate Transition Plan in 2024. The following climate goals have been reviewed and validated as science-based net-zero targets:
- Overall Net-Zero Target: Signify commits to reach net-zero greenhouse gas emissions across the value chain by 2040.
- Near-Term Targets: Signify commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2019 base year. Signify also commits to reduce absolute scope 3 GHG emissions 50% within the same timeframe.
- Long-Term Targets: Signify commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2040 from a 2019 base year. Signify also commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe.
Signify has halved its greenhouse gas emissions since 2019, with a cumulative reduction of 334 million tonnes CO2e in excess of the requirements of the Paris agreement’s 1.5-degree pathway.
Signify’s sustainability program Brighter Lives, Better World 2025 set out to double the pace of decarbonization required by the Paris Agreement's 1.5°C scenario by the end of 2025. The company is proactive in reducing emissions across its supply chain, participating in the CDP Supply Chain program and encouraging suppliers to commit to science-based targets.
“We are proud to be part of the global movement for ambitious corporate decarbonization. This validation of our targets sets an example our peers and the broader industry must follow as we redouble our efforts to reduce emissions across the value chain in line with the Paris agreement’s 1.5-degree pathway,” said Loosschilder.
Signify (Euronext: LIGHT), the world leader in lighting, has committed to sharing the environmental impact of its full range of products. The company has already made available more than 2,000 Environmental Product Declarations (EPDs), covering more than 70,000 product variations around the world. Due to customer demand, the Americas are currently served by the Declare labelling system. As the EPD program continues, all products worldwide will ultimately receive EPDs.
Municipalities, businesses, and individuals are increasingly looking for fast, effective ways to reduce their environmental footprint. As lighting currently accounts for 12% of global electricity consumption and 5% of global CO2 emissions1, transitioning to energy-efficient LED lighting can significantly reduce global electricity consumption. EPDs quantify products’ environmental impact over their full life cycle, enabling comparisons to comparable products and empowering customers to make informed decisions on lighting investments.
In addition to driving greater transparency for customers, EPDs are advancing evidence-based sustainable innovation within Signify, providing a quantified footprint which acts as a baseline for further improvements in next generation product iterations.
Maurice LoosschilderSignify is committed to making the low-carbon future a reality, offering businesses, cities and consumers energy-efficient products, systems, and services that can reduce global electricity consumption for lighting by over a third2. Being transparent about our products’ environmental impact gives customers the information they need to make informed decisions, whether they are lighting cities, offices, or their own homes, as well as helping us to meet our own sustainability goals.
Signify’s Global Head of Sustainability
1 Based on 2020 figures by the IEA combined with data on global electricity consumption and CO2-emissions.
2 LED solutions can save 70% electricity consumption when replacing conventional lighting, and conventional lighting currently accounts for roughly 50% of global electricity consumption by lighting. For detailed information on Signify’s Green Switch calculation model, including the underlying assumptions and proposed conversions.
New operating model includes four verticalized businesses to enhance customer-centricity and speed of execution. Three of these will focus on customers: Professional, OEM and Consumer. The fourth will be dedicated to conventional lighting technologies. The changes will be implemented through 2024.
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, announces it is adapting its organization to enhance customer-centricity, speed of execution and reduce its structural costs.
“After the major transformation we achieved through the past decade, we are taking the next step by organizing our company around four vertically integrated businesses. Three of these will focus on customers: Professional, OEM and Consumer. The fourth will be dedicated to conventional lighting technologies.
Aligned to the new customer-centric structure, we will further adjust the size of our central organization and reduce our costs to support the company’s performance in the face of ongoing market volatility and uncertainty. Already started in Q4 2023, these changes will be implemented through 2024, with the majority achieved by Q2, and generating expected annualized savings in excess of €200 million.
Together, these measures will increase focus and accelerate the execution of our strategy, supporting our continued leadership in the transition to energy efficient connected lighting to unlock the extraordinary potential of light for brighter lives and a better world.”
Eric Rondolat
CEO of Signify
Moving forward, Signify will report against four businesses with vertically integrated P&Ls, adapted from the current three divisions as follows:
- The Professional business will offer LED lamps, luminaires, connected lighting systems and services to customers in the professional segment.
- The Consumer business will offer LED lamps, luminaires, and connected products, including Philips Hue and WiZ, to customers in the consumer segment.
- The OEM business will offer lighting components to the industry.
- The Conventional business will offer special lighting, digital projection, conventional lamps and lamp electronics.
The changes will be implemented through 2024, with the majority achieved by Q2, and are subject to proceedings with Signify’s social partners, depending on local legislation.
In the course of Q1 2024, Signify will make comparable financials available for the fiscal year 2023 under the new organizational structure and provide more information on one-off restructuring costs.
Signify accelerates the transition to energy efficient lighting with new UltraEfficient lamps for roads, retail, hospitality, and more
- The Philips MASTER LED SON-T UltraEfficient A-class lamps are the first A-class HID lamps at 4,000K registered in Europe¹, allowing easy replacement of conventional HID HPL/SON lamps with LEDs for road and street lighting.
- Signify also introduces UltraEfficient A-class GU10 LED spot and A-class dimmable LED bulb for various indoor applications, such as retail, hospitality, and residential.
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, continues to lead the transition to energy efficient lighting, helping municipalities, communities and businesses reduce their energy consumption by replacing legacy conventional lamps with the new Philips MASTER LED SON-T UltraEfficient (UE). Additionally, Signify is further extending its UltraEfficient LED range with the dimmable MASTER LEDbulbs UE and A-class MASTER LEDspots UE.
The new products meet the highest energy label, ‘A’, under the EU’s Ecodesign Regulation, and the Energy Labelling Regulation, which recently came into force. As A-class products, these new bulbs, spots, and lamps consume at least 43% less power to achieve the same output as standard alternative products².
Sustainability with a fast return on investment
The new Philips MASTER LED SON-T UE lamps are the first A-class LED SON-T lamps with a color temperature of 4,000K registered in Europe¹. The new lamps have a similar look, feel and light distribution to their conventional equivalents, and can be easily retrofitted into existing SON-T fittings. When upgrading from conventional HID lamps, a potential full return on investment can be achieved in 2.3 years³. Replacing 100 units of 100W conventional HID lamps with 42.8W A-class LED SON-T could save €7,046 per year³. The lamps are nondirectional and non-dimmable E27/E40 lamps, with a lumen range between 4,000 lm and 9,000 lm.
More reasons to upgrade
The new A-class MASTER LEDbulbs UE and A-class MASTER LEDspots UE GU10 consume at least 45% less energy, compared to standard LED alternatives, as well as lasting at least three times as long²,⁴. Additionally, the A-class MASTER LEDbulbs UE are now dimmable, allowing for customizable lighting experiences.
With the launch of these new additions to our UltraEfficient lineup, Signify continues to drive the shift from conventional lighting to more efficient LED lighting. We want to make it easier for our customers to implement innovative, value-add lighting solutions that help customers to quickly and effectively reduce their energy consumption.”
Michael Rombouts
Business Leader LED Lamps & Luminaires
Availability
- Philips MASTER LED SON-T UltraEfficient (2,700/4,000K, 19—43W, 3,600—9,000 lumen, 50—100W equivalent)
- Philips MASTER LEDspot UltraEfficient GU10 EELA (2,700/3,000/4,000K, 2.1W, 50W equivalent)
- Philips MASTER LEDbulbs UltraEfficient Dimmable (2,700/3,000K, 4W, 60W equivalent)
- Philips MASTER LEDbulbs UltraEfficient Globe G95 and ST64 (2,700K, 4W, 60W equivalent)
- Philips MASTER LEDluster UltraEfficient (2,700/4000K, 2.3W, 40W equivalent)
¹ According to the EPREL database on the date of publication of this press release.
² Energy savings of the Ultra Efficient products compared with the Philips standard alternative products: Philips MASTER LEDbulb UE saves 50% compared to Philips CorePro LEDbulb A60 60W; Philips MASTER LEDspot UE EELA saves 45% compared to Philips LEDspot GU10 50W. Philips MASTER LED SON-T UE lamp saves 43% compared to Philips SON-T 100W E E40.
³ This calculation compares the Philips MASTER LED SON-T UltraEfficient with the conventional Philips SON-T 100W E E40. The lights are assumed to be used for 4,100 hours annually. The average energy cost is 0.287 €/kWh, and it is calculated for the professional roads and streets application in Europe, valid in 2022, based on 47 European countries: Albania, Austria, Belarus, Belgium, Bosnia, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, England, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Kazakhstan, Kosovo, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Turkmenistan, Ukraine, Uzbekistan. The data presented is an illustrative forecast based on a proprietary model developed by Signify to help customers understand the impact of lighting on the environment. Signify's "Green Switch conventional light point conversion model" uses input from numerous sources, references, and data points (available upon request) to generate a simulated view of a given market's energy consumption, but the accuracy of which cannot be verified. The thousand separator is a comma (,) and the decimal separator is a period (.).
⁴ Philips MASTER LEDbulb UE (50,000 hours at L70, 4W) compared to Philips CorePro LEDbulb A60 60W (15,000 hours at L70, 8W); Philips MASTER LEDspot UE EELA (50,000 hours at L70, 2.1W) compared to Philips LEDspot GU10 50W (15,000 hours at L70, 4.6W).