Home 181029 Signify | excluding Lamps results were pretty much in line
181029 Signify | excluding Lamps results were pretty much in line

181029 Signify | excluding Lamps results were pretty much in line

No. pages 6
Description
On the back of 3Q18 results Signify shares were hit hard. After an initial positive share price opening - as results exceeded expectations -, Signify's share price plummeted. Some seems to believe that the better than expected results were fully attributable to Lamps and that the other divisions, LED, Professional and Home [LPH], missed expectations. At the end of the trading day, the Signify shares closed at EUR 19.10, approx. 7.1% lower compared to the previous day.

In this report we share the view that the earnings surprise was fully attributable to Lamps but we will contest that LPH missed expectations.

Content

- Signify’s consensus sales and csg outlook against the reported numbers
- csg for LPH and Signify compared with its peers
- Signify’s consensus adjusted EBITA and margin outlook against the reported  numbers
- profit margin for LPH and Signify compared with its peers
- conclusions

Created Date: Tuesday October 30, 2018 15:54:53
Last Updated Date: Tuesday October 30, 2018 15:54:53
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