Signify, an Eindhoven lighting company’s sales dropped by 3.2%, compared to last year. This company used to be known as Philips Lighting.
These sales amount to a turnover of EUR1.6 billion. The company’s turnover in the third quarter last year was EUR1.68 billion.
Because of the decrease in turnover, the company’s total income of last quarter was also less than that of 2017. Where the gross profits were EUR110 million last year, this quarter they amount to EUR93 million.
According to the Eindhovens Dagblad, a local newspaper, these profits are not disappointing. Previously, analysts calculated that profits would amount to EUR76 million.
Signify is busy with a transition into the sales of LED lighting. Where the sales in traditional lighting are dropping, the sales in LED lighting is rising slightly. It is now responsible for 70% of their total turnover. Last year, this was 68%.
The Eindhoven company says it is worried about economic circumstances, unfavourable foreign exchange conditions and political uncertainties on the Dutch and international markets.