Xin Fei released 3Q18 earnings report, sales exceeded 12 billion yuan

In October 26th, Signify, the global lighting leader, announced its third quarter 2018 earnings report. During the reporting period, Xin Nuo achieved sales of about 1 billion 600 million euros (equivalent to about 12 billion 656 million yuan), down 5.3% from the same period last year. Net income of 93 million euros (equivalent to about 736 million yuan) was 15.1% down compared to the same period last year. Among them, sales of LED products accounted for 70% of total sales, and increased by 0.1% compared with the same period last year.

In terms of specific product revenue, Xin Nuo achieved Lamps sales of 361 million euros, LED sales of 444 million euros, professional products business sales of 675 million euros, and home products business sales of 110 million euros, down 13%, 4.5%, 1.5%, 4%, respectively.

In terms of the market area, the revenue structure of the European region is 560 million euros, a slight decrease of 2.8% compared with the same period last year, and sales in the Americas reached 464 million euros, down 9.7% compared to the same period last year.

Eric Rondolat, chief executive of Xin Nuo Fei, said that because of the more challenging market in some areas, the company's sales declined on the basis of a relatively high base, but the third quarter's profitability and cash flow have increased significantly. He also said that the company will continue to invest in innovation and seize the strategic opportunities of intelligent and networking lighting. The company team will also continue to strengthen the leadership of Xin Nuo Fei in the challenging market.

In addition, Xin Fei Fei expects sales growth in the second half of this year to be basically the same as that in the first half of the year. In view of the obvious progress in cost savings, the company is confident that the Adjusted EBITA margin will be increased to 10% to 10.5% after the adjusted interest rate depreciation and amortization. The company also expects steady free cash flow in 2018, but it will be slightly lower than the 2017 level due to higher restructuring costs.

It is reported that in the first quarter of 2018, Xin Nuo adjusted the product mix and transferred some LED lighting products from home and professional departments to LED departments. Since the beginning of the year, the company's earnings performance has been adjusted accordingly. (compile: LEDinside Janice)

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