Signify : Upgrading a quarter too early
>Lowering our estimates and target price by on average 25% - On 28 July the company lowered its guidance on the Adj EBITA margin by 100 basis points to a range of 9.5% to 10.5%. In this note we lower our estimates to the lower end of this guidance ahead of the 3Q numbers, which will likely disappoint again and come in as weak as the 2Q print. In addition we increase our restructuring estimates from 1.6% of sales to 2.3% of sales for 2023 to reflect the need for restru...Signify NV Formerly known as Philips Lighting NV. Signify NV, formerly Philips Lighting NV, is a company based in the Netherlands that provides lamps and lighting solutions. Its product portfolio includes, among others, incandescent lamps, halogen lamps, fluorescent lamps, linear fluorescent lamps (LFL), compact fluorescent lamps (CFL), high-intensity discharge lamps (HID) and light-emitting diodes (LED), as well as electronic components, such as electronic ballasts and drivers. The Company also provides integrated and customized lighting systems. Its service portfolio includes light management and value-added services, such as energy audits, light design and engineering, as well as remote monitoring and managed services. The Company operates through four segments: The Lamps segments comprises conventional lamps and lamp electronics; the LED segment focuses on LED lamps; the Professional segment includes lighting systems and services for professional consumers, and the Home segment covers consumer luminaries and home systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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