Following a decline since 2016 and a particularly harsh 2020, Signify expects sales to start going up again. In an update ahead of its annual investors day, the Eindhoven-based lighting company predicts a comparable sales growth of up to 5 percent for the 2021-2023 period. This year, revenue will drop 13-13.5 percent.
“The general lighting market underwent a radical transformation, moving from conventional to LED and to connected lighting,” says Eric Rondolat, CEO of Signify. “Looking ahead, we expect the headwinds facing our industry from the transition to LED to abate over the coming years. Our innovation-led strategy will continue to shape lighting industry standards and will accelerate the next technological leap towards connectivity. The progress we have made in the past few years uniquely positions us to achieve technology-driven growth on multiple dimensions.”