(CercleFinance.com) – Signify, the world leader in the lighting market, managed to limit the damage on the stock market this Thursday following the downward revision of its financial objectives for the 2022 financial year.
Citing a “more marked than expected” deterioration in its activity in China due to the current health situation in the country, the group says it is counting on an 8.8% drop in its sales on a like-for-like basis in the fourth quarter.
As a result, its growth forecast on a like-for-like basis for the whole of the 2022 financial year is reduced to 1.2%, against a previous annual objective ranging from 2% to 3%.
In terms of margins, Signify now says it expects an adjusted operating margin (Ebita) of around 10% for the full year, again below its initial target of 11 to 11.4%.
In the wake of these announcements, the title Signify yielded less than 3% on Thursday on the Amsterdam Stock Exchange, to be compared with a gain of around 0.4% for the benchmark index AEX.
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