EINDHOVEN, the Netherlands – Signify recently published its 2024 Annual Report, containing the company’s financial and sustainability statements.
I am proud to close the year in a significantly stronger position than we entered it. While work remains to accelerate our progress, we have the right structure and strategy in place to achieve our goals, said Eric Rondolat, Signify CEO.
At the beginning of the year, we introduced a new organizational structure to strengthen our customer focus and enhance the autonomy of four newly verticalized businesses. As we enter 2025, the positive impact of these changes is clear. Despite external headwinds, we built positive momentum across the business, delivering sequential improvements, with a particularly strong performance from our Consumer business.
Our success continues to be driven by our digital and connected businesses, with the installed base of connected light points growing to 144 million by year-end. At the same time, our teams effectively managed the declining contribution of the Conventional business, maintaining a resilient bottom line supported by our successful cost-reduction program. Additionally, we delivered strong free cash flow and further strengthened our balance sheet by reducing debt.
The entire report can be found here.
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