Xin Nuo Fei announced its performance in the first half of the year, with sales of over 24 billion 100 million

Today (27), Signify, the global lighting leader, disclosed its performance in the second quarter of 2018 and in the first half of the year, and it was also the first transcript from PHILPS lighting (Philips Lighting) to Xin Nuo.

According to the financial report, 2Q18, the company realized sales of 1 billion 537 million euros (RMB 12 billion 195 million yuan), down 9.5% from 2Q17, net income of 29 million euros (about RMB 230 million yuan), down 60% from 2Q17. In the first half of 2018, the company achieved a total of 3 billion 38 million euros (RMB 24 billion 104 million yuan), a year-on-year reduction of 10.4%, and a net income of 49 million euros (about RMB 389 million yuan), and a year-on-year decline of 63.2%.

In terms of specific product revenue, in the second quarter of 2018, Xin Nuo realized Lamps sales of 351 million euros, LED sales of 443 million euros, professional product business sales of 652 million euros and home product sales of 89 million euros, 21.8%, 7.2%, 2.5%, 11.1% compared with 2Q17. In the first half of 2018, the company realized Lamps Sales of 722 million euros, LED sales of 887 million euros, professional product sales of 1 billion 245 million euros and home product sales of 181 million euros, respectively, 23.1%, 6.2%, 3.5%, 12.2% respectively.

From the market regional dimension, the performance of the European region (including Russia and Central Asia, which was previously designated as other regions), in the second quarter of 2018 and the first half of 2018 were all the best, respectively, with sales of 526 million euros and 1 billion 82 million euros, respectively, by 2.1% and 1.7% respectively.

"In the second quarter, the profitability of Lamps, LED and professional products improved, while home product performance was still weak. We have substantially reduced cost benchmarks and working capital to improve the structure of cash flow. " Eric Rondolat, chief executive, said, "however, because of the slow start of this year and we expect the market environment to continue to be full of challenges, the company has decided to adjust its sales expectations for this year. We expect to improve sales growth in the second half of the year, but this is not enough to bring a full year sales growth. At the same time, we confirm our expectations for this year's profitability and cash flow, because our team is still focusing on the continuous implementation of the company strategy, which is to reduce cost benchmarks while seeking investment innovation and growth opportunities. "

Considering the expected cost savings in the second half of 2018, the company maintained the expectation that the Adjusted EBITA margin will increase from 9.6% in 2017 to 10.0-10.5% after the 2018 adjustment of interest tax depreciation amortization. The company also expects a solid free cash flow in 2018, but it will be slightly lower than the 2017 level because of the increase in restructuring costs. (compiled: LEDinside Nicole)

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