Signify recorded declines in both revenue and profit in the second quarter of 2026. The former Philips lighting division described market conditions as mixed, with continued momentum in professional lighting projects in the United States and emerging markets, but weaker demand in Europe.
A lower contribution from European consumer activities pressured profitability. Company CEO As Tempelman says Signify is taking steps to improve performance. The company announced a new strategy in June, focusing investment on smart lighting systems, consumer products, and selected business segments, while allocating less funding to simpler LED lamps.
“With targeted price increases and ongoing cost savings, we are confident we will achieve stronger profitability in the second half of the year”, the CEO added. He further emphasised that he is encouraged by employee engagement in executing the strategy and maintained expectations for the full year.
Numbers
Second‑quarter revenue fell 6 percent to just over 1.33 billion euros. Depreciation of the US dollar negatively affected revenue by 2.5 percent. Comparable revenue from existing operations, excluding acquired or divested businesses, declined 3.6 percent. This is mainly due to weaker performance in the professional lighting market and in parts and components.
Net profit dropped to 17 million euros, down from 57 million euros a year earlier. Here, higher restructuring costs are the main driver. These costs totalled 31 million euros and are tied to the 180‑million‑euro cost‑saving program announced in January 2026.
Cuts
The company has already undergone significant reorganisations in recent years. However, as part of cost-saving measures, it was announced earlier this year that it would cut 900 jobs worldwide, including 150 in the Netherlands. The number of full‑time employees fell to 25,866, down from 29,456 at the end of the second quarter of 2025, largely due to reduced factory staffing as production volumes declined.
@anp | NEWSBRAINPORT
