Signify (LIGHT) investor relations material
Signify Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 saw challenging market conditions, with intensified price pressure from redirected Chinese overcapacity and continued softness in key European and U.S. markets, especially in public sector projects and OEM demand.
Growth in connected and specialty lighting, particularly in consumer and agricultural segments, helped offset weaker areas, with high single-digit growth in connected lighting and strong performance in India.
New product launches, especially in the Philips Hue line, contributed to strong consumer growth.
Free cash flow was EUR 71 million, down from EUR 119 million in Q3 2024.
Share repurchase program continued, with EUR 116.4 million repurchased by September 30, 2025.
Financial highlights
Nominal sales declined 8.4% year-over-year to EUR 1,407 million, with a negative currency effect of 4.5%.
Comparable sales declined 3.9% (2.7% excluding Conventional Business).
Adjusted EBITA margin was 9.7%, down 80 bps from Q3 2024.
Net income fell to EUR 76 million, down from EUR 108 million in Q3 2024, due to lower operating income and higher tax expense.
Free cash flow as % of sales was 5.1% in Q3 2025, down from 7.7% in Q3 2024.
Outlook and guidance
Full-year 2025 guidance updated: comparable sales growth expected at -2.5% to -3% (or -1% to -1.5% excluding Conventional).
Adjusted EBITA margin guidance revised to 9.1%-9.6%.
Free cash flow expected around 7% of sales.
Priorities include commercial and supply chain execution, managing price pressure, digital and AI investments, and a strategic review with a capital markets day planned for mid-2026.
Share repurchase program of up to EUR 150 million planned for 2025.
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