June 14, 2024

Signify publishes comparable financials for 2023 and Q1 2024 following implementation of
new organizational structure1
Eindhoven, the Netherlands - Signify (Euronext: LIGHT), the world leader in lighting, has published its
quarterly comparable financials for the year 2023 and Q1 2024. Following the implementation ofSignify's new organizational structure on April 1, the company has established four verticalizedbusinesses with full profit and loss responsibility2. Each of these four businesses will be fully
responsible for its end-to-end processes including offer development, manufacturing, and sales &marketing.
The Professional business offers LED lamps, luminaires, connected lighting systems and services tocustomers in the professional segment. The Professional business is the combination of the former
Digital Solutions division and Professional LED lamps and luminaires, which was formerly part of theDigital Products division.
Reflecting this shift and the reallocation of central costs to the businesses, the Professional businessrecorded sales of EUR 4,254 million with an Adjusted EBITA of EUR 412 million and an Adjusted EBITA
margin of 9.7% for the year 2023. In Q1 2024, the Adjusted EBITA margin decreased from 7.9% to 7.4%
year on year.
The Consumer business offers LED lamps, luminaires, and connected products, including Philips Hueand WiZ, to customers in the consumer segment. The Consumer business was formerly part of theDigital Products division alongside Professional LED lamps and luminaires and the OEM business.
Reflecting this shift and the reallocation of central costs to the businesses, the Consumer businessrecorded sales of EUR 1,342 million with an Adjusted EBITA of EUR 120 million and an Adjusted EBITA
margin of 8.9% for the year 2023. In Q1 2024, the Adjusted EBITA margin improved from 6.0% to10.4% year on year.
The OEM business offers lighting components to the industry. The OEM business was previously partof the Digital Products division and is now set up as a standalone business.
Reflecting this shift and the reallocation of central costs to the businesses, the OEM business recorded
sales of EUR 457 million with an Adjusted EBITA of EUR 43 million and an Adjusted EBITA margin of
9.4% for the year 2023. In Q1 2024, the Adjusted EBITA margin decreased from 9.6% to 8.8% year onyear.
The Conventional business offers special lighting, digital projection, and lamp electronics. The
Conventional business is similar to the former Conventional Products division.
1

This document contains certain non-IFRS financial measures and ratios, such as comparable sales growth, EBITA, adjusted EBITA, and related ratios, which are not recognized measures offinancial performance or liquidity under IFRS. All reported data are unaudited.
2Please refer to appendix A for a visual representation of how the organizational structure has changed.

Following the reallocation of central costs to the businesses, the Conventional business recorded salesof EUR 627 million with an Adjusted EBITA of EUR 127 million and an Adjusted EBITA margin of 20.3%
for the year 2023. In Q1 2024, the Adjusted EBITA margin decreased from 22.3% to 17.6% year onyear.
'Other' represents amounts not allocated to the businesses and now mainly includes costs related toventures, exploratory research and audits. Following the implementation of the new structure, part ofthe central costs has been reallocated to the four vertically integrated businesses. As a result of thereallocation, 'Other' Adjusted EBITA for 2023 reduced from EUR -86 million to EUR -31 million.

1

This document contains certain non-IFRS financial measures and ratios, such as comparable sales growth, EBITA, adjusted EBITA, and related ratios, which are not recognized measures offinancial performance or liquidity under IFRS. All reported data are unaudited.
2
Please refer to appendix A for a visual representation of how the organizational structure has changed.

Signify
Comparable sales growth
Sales
Adjusted EBITA
Adjusted EBITA margin
EBITA
Income from operations (EBIT)

Professional BusinessComparable sales growth
Sales
Adjusted EBITA
Adjusted EBITA margin

Consumer BusinessComparable sales growth
Sales
Adjusted EBITA
Adjusted EBITA margin

OEM BusinessComparable sales growth
Sales
Adjusted EBITA
Adjusted EBITA margin

Conventional BusinessComparable sales growth
Sales
Adjusted EBITA
Adjusted EBITA margin

OtherSales
Adjusted EBITA

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024

-9.1%
1,678
149
8.9%
8361

-8.6%
1,644
136
8.3%
108
88

-7.8%
1,649
177
10.7%
151
131

-7.7%
1,734
209
12.1%
10889-8.3%
6,704
670
10.0%
449
369

-10.1%
1,468
122
8.3%
82
64

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024

-6.3%
1,046
83
7.9%

-4.2%
1,059
89
8.4%

-4.2%
1,055
111
10.6%

-3.0%
1,095
128
11.7%

-4.4%
4,254
412
9.7%

-7.6%
943
70
7.4%

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024-15.0%
328
20
6.0%-11.1%
312
175.5%

-6.0%
316
28
8.8%

-5.3%
387
55
14.2%

-9.3%
1,342
120
8.9%

-5.7%
299
3110.4%

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024-16.7%
114
119.6%-28.2%
10887.2%-22.8%
128
1612.2%-23.7%
107
98.1%-23.0%
457
439.4%

-7.4%
103
98.8%

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024

-8.5%
186
41
22.3%

-15.0%
160
32
19.9%

-21.0%
145
30
20.9%

-29.6%
136
23
17.1%

-18.4%
627
127
20.3%

-34.1%
119
2117.6%

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024

4-65-105-99-623-314-9Other information
For further information, please contact:
Signify Investor Relations
Thelke Gerdes
Tel: +31 6 1801 7131
E-mail: thelke.gerdes@signify.com
Signify Corporate Communications
Tom Lodge
Tel: +31 6 5252 5416
E-mail: tom.lodge@signify.com
About Signify
Signify (Euronext: LIGHT) is the world leader in lighting for professionals, consumers and the Internetof Things. Our Philips products, Interact systems and data-enabled services, deliver business value andtransform life in homes, buildings and public spaces. In 2023, we had sales of EUR 6.7 billion,approximately 32,000 employees and a presence in over 70 countries. We unlock the extraordinary
potential of light for brighter lives and a better world. We have been in the Dow Jones Sustainability
World Index since our IPO for seven consecutive years and have achieved the EcoVadis Platinum rating
for four consecutive years, placing Signify in the top one percent of companies assessed. News fromSignify can be found in the Newsroom, on X, LinkedIn and Instagram. Information for investors is
located on the Investor Relations page.

Appendix A - The new organizational structure