2024-07-26 10:07:09 ET
Signify N.V. (SFFYF)
Q2 2024 Earnings Conference Call
July 26, 2024 03:00 AM ET
Company Participants
Thelke Gerdes - Head, Investor Relations
Eric Rondolat - Chief Executive Officer
Zeljko Kosanovic - Chief Financial Officer
Conference Call Participants
Akash Gupta - JPMorgan
Daniela Costa - Goldman Sachs
Martin Wilkie - Citi
Sven Weier - UBS
Tim Ehlers - Kepler
Marc Hesselink - ING
Presentation
Operator
Hello and welcome to the Signify Second Quarter and Half Year Results 2024. Throughout the call all participants will be in listen-only mode. After the presentation, there will be a question-and-answer session. [Operator Instructions]
Today I am pleased to present Eric Rondolat, CEO; Zeljko Kosanovic, CFO; and Thelke Gerdes, Head of IR. Please go ahead with your meeting.
Thelke Gerdes
Good morning, everyone and welcome to Signify's earnings call for the second quarter 2024. With me today are Eric Rondolat, CEO of Signify; and Zeljko Kosanovic, CFO. During this call, Eric will first take you through the first -- through the second quarter highlights after which Zeljko will present the company's second quarter financial performance and highlights for the first half of the year. Eric will then come back to discuss the outlook for the remainder of the year. After that we will be happy to take your questions.
Our press release and presentation were published at 7:00 o'clock this morning. Both documents are available for download from our Investor Relations website. The transcript of this conference call will be made available as soon as possible.
With that, I will hand over to Eric.
Eric Rondolat
Thank you, Thelke. Good morning to everyone, and thank you for joining us today. So let's start immediately with some of the highlights for the second quarter of 2024 on Slide 4. So as you can see we increased the installed base of connected light points to 136 million. At the end of the quarter LED-based sales were 86% of total sales compared to 84% one year ago. Comparable sales declined by 8.4% impacted by the accelerated sales decline of conventional, which is weighing around 2 percentage points and the continued soft market conditions in the European professional business and in China....
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Signify N.V. (SFFYF) Q2 2024 Earnings Call Transcript