Signify NV said Wednesday that the company will provide more details on its strategy to drive profits higher, and that is has updated guidance for 2020 and for 2021 to 2023.
The Netherlands-based lighting company said the strategy, due to be detailed at 1300 GMT, will outline its intent to strentghen leadership, target good levels of growth and improve profits.
For 2020, Signify said it expects comparable sales growth in the range of -13.5% to -13%, and a free cash flow above 11% of sales. The company also expects an adjusted earnings before interest, taxes, depreciation and amortization margin in the range of 10.2% to 10.6%.
For the period 2021 to 2023, Signify has guided for yearly comparable sales growth of 0% to 5%, free cash flow above 8% of sales for the period, and an adjusted Ebitda margin of 11% to 13% by 2023.
"Looking ahead, we expect the headwinds facing our industry from the transition to LED to abate over the coming years. Our innovation-led strategy will continue to shape lighting industry standards and will accelerate the next technological leap towards connectivity," Chief Executive Eric Rondolat said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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