'No light at the end of the tunnel': Signify down on Q1 miss
** Shares in Signify LIGHT.AS fall c.7% after the world's biggest maker of lights missed Q1 core profit expectations, hit by soft demand in China and weak performance in its European Professional segment
** Q1 adj. EBITA falls 18.3% to 122 mln euros ($130.78 million), missing company-compiled consensus of 131 mln
** Q1 adj. EBITA margin contracts to 8.3%, from 8.9% a year ago
** "No light at the end of the tunnel," says J.P.Morgan adding that the weak Q1 indicates downside to consensus
** "We expect a significant negative share price reaction today as group performance shows no sign of bottoming out, and its cost actions are not yet driving any bottom-line impact," - JPM
** Q1 sales fall 12.5% to 1.47 billion euros
** Shares head for their worst day in about a year, if losses hold
Reporting by Olivier Sorgho
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
