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Signify Press Release July 23 , 2021 Signify reports second quarter sales of EUR 1.6 billion , operational profitability of 10.9 % and a free cash flow of EUR 104 million Second quarter 2021¹ Signify's installed base of connected light points increased from 83 million in Q1 21 to 86² million in Q2 21 Sales of EUR 1,609 million ; 9.6 % nominal sales growth and CSG of 14.1 % LED - based sales represented 82 % of total sales ( Q2 2020 : 80 % ) ● ● ● ● ● Adj . EBITA margin improved by 190 bps to 10.9 % Net income increased to EUR 82 million ( Q2 20 : EUR 81 million ) Free cash flow of EUR 104 million ( Q2 20 : EUR 158 million ) Net debt / EBITDA ratio of 1.7x ( Q2 20 : 2.4x ) Eindhoven , the Netherlands - Signify ( Euronext : LIGHT ) , the world leader in lighting , today announced the company's second quarter 2021 results . " In the second quarter we saw an acceleration of the pace of recovery in comparison to the first three months of the year . We successfully executed our strategy as demand for our connected lighting offers and our growth platforms remained strong . The consumer segment held its momentum and demand for conventional products proved resilient . The professional lighting segment showed sequential improvements , while still impacted by both extended lockdowns and supply constraints . Overall , we managed to improve the operating margin by 190 basis points and generated a solid free cash flow . We again progressed on our Brighter Lives , Better World 2025 program , well on track to achieving our four key objectives . Looking back at the first half year , we are pleased with the pace of our recovery in a volatile and disrupted environment , achieving more than 8 percent comparable sales growth with an operating margin improvement of 230 basis points and generating EUR 272 million of free cash flow , " said CEO Eric Rondolat . " While we are seeing increasing COVID - 19 cases , new variants leading to continued lockdowns in parts of the world and supply constraints continuing to impact us into the second half of the year , we are confident that the measures we have taken will enable us to counter those challenges and deliver our guidance for the year . " 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 . ²Excludes 2 million connected light points for Telensa , as acquisition closed on July 1 , 2021