Ad hoc-Mitteilungen

Signify reports full-year sales of EUR 6.9 billion, operational profitability of 11.6% and a free cash flow of EUR 614 million

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Press Release

January 28, 2022

Signify reports full-year sales of EUR 6.9 billion, operational profitability of 11.6% and a free cash flow of EUR 614 million

Fourth quarter 20211

  • Sales of EUR 2,008 million; comparable sales growth of 4.5%
  • Order book increase of 67% in Q4 21 vs. Q4 20
  • Adj. EBITA margin of 13.2% (Q4 20: 13.4%)
  • Net income of EUR 170 million (Q4 20: EUR 137 million)
  • Free cash flow of EUR 257 million (Q4 20: EUR 332 million)
  • Repayment of EUR 350 million of debt, as committed

Full year 2021

  • Signify's installed base of connected light points increased from 77 million at YE 20 to 96 million at YE 21
  • Sales of EUR 6,860 million; comparable sales growth of 3.8%
  • LED-based sales represented 83% of total sales (FY 20: 80%)
  • Adj. EBITA margin of 11.6% (FY 20: 10.7%)
  • Net income of EUR 407 million (FY 20: EUR 335 million)
  • Free cash flow of EUR 614 million, 8.9% of sales (FY 20: EUR 817 million)
  • Net debt/EBITDA ratio of 1.4x (YE 20: 1.7x)
Dividend

  • Proposal to pay a cash dividend of EUR 1.45 per share over 2021
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announced the company’s fourth quarter and full-year 2021 results.

  • Double the pace of the Paris agreement:
    Cumulative carbon reduction over the value chain was 60 million tonnes, and is ahead of track. All of Signify's divisions had CO2 emission reductions. The main driver remains the accelerated shift to energy efficient and connected LED lighting in 2021, which decreases the carbon emissions in the use phase.
  • Double our Circular revenues to 32%:
    Circular revenues increased to 25%, compared with the 2019 baseline of 16%. Signify is on track to achieve the 2025 target of 32%. This positive trend is driven by the further expansion of serviceable professional luminaires, and the continuous, stable contribution of consumer luminaires and circular components.
  • Double our Brighter lives revenues to 32%:
    Brighter lives revenues were 27%, with a strong contribution from the consumer well-being portfolio. With this performance, Signify is making good progress towards the 2025 target of 32%.
  • Double the percentage of women in leadership to 34%:
    The percentage of women in leadership positions was 25%, stable when compared with last quarter. This performance is slightly behind the 2021 intermediary step aimed at reaching the 2025 target of 34%. In Q4, Signify launched the Powering Inclusion Series, which increases the awareness of its leaders and people managers on how to foster inclusion.
Signify is in the top 1% of its industry in the S&P Global Corporate Sustainability Assessment and is included in the Dow Jones Sustainability World Index for the fifth consecutive year, illustrating its drive for leadership in sustainability.

  • Comparable sales growth in the range of 3-6%
  • Continued Adjusted EBITA margin improvement of up to 50 bps
  • Free cash flow in excess of 8% of sales
Capital allocation

¹This press release contains certain non-IFRS financial measures and ratios, such as comparable sales growth, EBITA, adjusted EBITA and free cash flow, and related ratios, which are not recognized measures of financial performance or liquidity under IFRS. For a reconciliation of these non-IFRS financial measures to the most directly comparable IFRS financial measures, see appendix B, Reconciliation of non-IFRS financial measures, of this press release.

Financial calendar 2022
February 22, 2022    Annual Report 2021
April 29, 2022         First quarter results 2022
May 17, 2022         Annual General Meeting
May 19, 2022         Ex-dividend date
May 20, 2022         Dividend record date
May 31, 2022         Dividend payment date
July 29, 2022          Second quarter and half-year results 2022
October 28, 2022    Third quarter results 2022

For further information, please contact:
Signify Investor Relations
Thelke Gerdes
Tel: +31 6 1801 7131
E-mail: thelke.gerdes@signify.com

Signify Corporate Communications
Elco van Groningen
Tel: +31 6 1086 5519
E-mail: elco.van.groningen@signify.com

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. With 2021 sales of EUR 6.9 billion, we have approximately 37,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in 2020, have been in the Dow Jones Sustainability World Index since our IPO for five consecutive years and were named Industry Leader in 2017, 2018 and 2019. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.

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