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Signify Press Release April 30 , 2021 Signify reports first quarter sales of EUR 1.6 billion , operational profitability of 10.8 % and a free cash flow of EUR 168 million First quarter 2021¹ Signify's installed base of connected light points increased from 77 million in Q4 20 to 83 million in Q1 21 Sales of EUR 1,599 million ; 12.0 % nominal sales growth and CSG of 3.2 % LED - based sales represented 82 % of total sales ( Q1 2020 : 79 % ² ) Adj . EBITA margin improved by 290 bps to 10.8 % Net income increased to EUR 60 million ( Q1 20 : EUR 27 million ) Free cash flow increased to EUR 168 million ( Q1 20 : EUR 112 million ) Net debt / EBITDA ratio of 1.4x ( Q1 20 : 2.7x ) ● ● ● ● Eindhoven , the Netherlands - Signify ( Euronext : LIGHT ) , the world leader in lighting , today announced the company's first quarter 2021 results . " Our first quarter performance demonstrates the execution of our strategy , as we report growth driven by our connected businesses and our growth platforms . The adaptive measures we took in 2020 , combined with continued pricing discipline , cost and working capital management , resulted in improvements in our operating margin and free cash flow . Our teams have also begun to execute our new ' Brighter Lives , Better World 2025 ' sustainability program , which aims to double our positive impact on the environment and society in 2025 , " said CEO Eric Rondolat . " While we see signs of an economic recovery , supply chain performance is being challenged by component shortages , which are impacting the first half , and will , to a lesser extent , impact the second half of the year . We expect the continued vaccination rollouts and easing of lockdowns to drive an upswing in demand for our professional portfolio in the second half of the year . We are therefore aiming for mid - single digit full - year comparable sales growth and further year - on - year operating margin improvements , driven by our digital businesses . " ¹ This press release contains certain non - IFRS financial measures and ratios , such as comparable sales growth , EBITA , adjusted EBITA and free cash flow , and related ratios , which are not recognized measures of financial performance or liquidity under IFRS . For a reconciliation of these non - IFRS financial measures to the most directly comparable IFRS financial measures , see appendix B , Reconciliation of non - IFRS financial measures , of this press release . 2 2020 includes pro - forma Cooper Lighting for January and February .