Signify reports first quarter sales of €1.8bn & CSG of 6.4%
Summary
Global supply chain disruptions, which brought longer supplier lead times and higher levels of inventory, have negatively affected our cash flow. This is mainly due to the accelerated shift to energy efficient and connected LED lighting, which decreases carbon emissions in the use phase, and Signifys ongoing efforts to decarbonize its supply chain. In Q1, Signify conducted the first all-employee session of the Powering Inclusion Series with more than 5,000 participants across the company, and celebrated International Womens Day with its global #BreakTheBias campaign. Signify participated in the UN Global Compact’s Target Gender Equality event to share its mentoring practices for improving diverse representation in its organisation. The Adjusted EBITA margin decline of 30bps reflects the high comparison base of the previous year, a negative currency effect of 130bps and higher COGS, which were partly compensated by price increases, positive sales mix and operating leverage.