Mission Statement, Vision, & Core Values (2025) of Signify N.V.

An Overview of Signify N.V.

General Overview of Signify N.V.

Signify N.V., previously known as Philips Lighting, is a global leader in lighting solutions. Established in 1891, the company has a rich history in innovation, transitioning from traditional lighting to smart and connected solutions. As of 2024, Signify's product offerings include LED lighting, smart home products, and professional lighting solutions for various industries. The company emphasizes sustainability and energy efficiency in its solutions, responding to the increasing global demand for environmentally friendly products.

As of 2024, Signify recorded sales of approximately €8.1 billion, marking a strong position in the global lighting market. The company's focus on connectivity and sustainability has positioned it as a frontrunner in the smart lighting segment, appealing to both consumers and businesses alike.

Company's Financial Performance in the Latest Financial Reports

In its latest financial report for Q3 2024, Signify achieved a record-breaking revenue of €2.1 billion, representing a growth of 9% year-over-year. This surge is primarily attributed to the strong demand for its LED and smart lighting products, which have become increasingly popular in both residential and commercial applications. The professional segment also showed remarkable growth, expanding by 11% compared to the previous year.

Profitability also reflected this positive trend with an EBITDA margin of 15.5%, up from 14.7% in Q3 2023. The following table outlines key financial metrics from the latest reporting period:

Introduction to Signify as a Leader in the Industry

Signify N.V. stands out as one of the leading companies in the global lighting industry. It has established a formidable reputation for its commitment to innovation and sustainability, positioning itself at the forefront of the smart lighting revolution. The company's extensive portfolio includes connected lighting systems, which are increasingly integrated into smart city initiatives and commercial environments.

With a strong emphasis on research and development, Signify invests approximately 6% of its annual revenue into innovation, ensuring it remains competitive in a rapidly evolving market. As the need for energy-efficient lighting solutions continues to rise, investors and stakeholders are encouraged to explore the factors that contribute to Signify's ongoing success in the lighting sector.

Mission Statement of Signify N.V.

Mission Statement Overview

Signify N.V. is recognized as a global leader in lighting for professionals and consumers, with a mission statement that emphasizes a commitment to sustainability, innovation, and excellence. The mission is fundamental in steering the company's strategic direction and operational decisions, ensuring alignment with long-term objectives. As of 2023, Signify reported revenues of €8.0 billion, showcasing its robust market position.

Core Component 1: Sustainability

One of the primary pillars of Signify's mission statement is sustainability. The company aims to provide customers with products that minimize energy consumption and reduce environmental impact. According to their 2022 Sustainability Report, Signify's products help save 30 terawatt-hours of energy, equivalent to 15 million tons of CO2 emissions annually. They aim to become carbon neutral in their operations by 2025.

Core Component 2: Innovation

Innovation plays a critical role in Signify's mission. The company invests heavily in R&D, allocating €229 million in 2022, which is approximately 3% of its total revenue. This investment enables the development of cutting-edge technologies such as smart lighting systems, which represent a growing segment of their offerings. In 2023, smart lighting products accounted for 40% of total sales.

Core Component 3: Customer Satisfaction

Customer satisfaction is integral to Signify’s mission. The company strives to deliver high-quality products and exceptional service to enhance consumer experiences. In the 2023 customer satisfaction survey, Signify recorded an impressive score of 85%, indicating strong performance in meeting customer expectations. Additionally, they have achieved a Net Promoter Score (NPS) of 45, reflecting positive customer sentiment towards their products and services.

Vision Statement of Signify N.V.

Vision Statement Overview

Signify N.V. envisions a world where light enhances life and supports sustainability. This vision reflects a commitment to innovation in lighting solutions that are not only efficient but also contribute to a healthier planet.

Commitment to Sustainability

In 2024, Signify reaffirmed its dedication to sustainability, aiming to be carbon neutral in operations by 2025 and across its entire value chain by 2030. The company projects that its sustainable revenue will reach €5 billion by 2025, representing over 70% of its sales.

Innovation in Lighting Technology

Signify's vision emphasizes cutting-edge technology in the realm of digital lighting and smart solutions. The company invested over €250 million in R&D in 2023, focusing on connected LED technology, which is projected to grow its market share by 20% annually.

Global Reach and Market Impact

As a global leader in lighting, Signify operates in over 70 countries, serving a diverse customer base. The company’s revenue in 2023 stood at €8.2 billion, with a significant portion derived from emerging markets, which accounted for 30% of total sales.

Social Responsibility and Community Engagement

Signify's vision also encompasses social responsibility, aiming to improve the lives of 1 billion people globally through innovative lighting solutions by 2025. The company implements programs that focus on education and skills development, participating in more than 100 community projects worldwide.

Customer-Centric Approach

In aligning with customer needs, Signify prioritizes user-friendly lighting solutions. Customer satisfaction scores have risen to 85% in 2024, reflecting the company’s commitment to service and innovation. The firm has launched more than 50 new products that integrate sustainability and design.

Core Values of Signify N.V.

Innovation

Innovation is a cornerstone of Signify N.V.'s approach, driving the company to develop cutting-edge lighting solutions. The company is committed to investing significantly in R&D to maintain its competitive edge.

• In 2022, Signify reported R&D expenditures of €263 million, representing approximately 6.4% of its total revenue.
• Key innovations include the launch of the 'Circa' series of lighting products designed for smart homes, enhancing user control and sustainability.

Sustainability

Sustainability is at the heart of Signify's operations, reflecting its dedication to environmental responsibility and social impact.

• In 2022, Signify achieved a 75% reduction in its carbon footprint compared to 2015 levels, marking a significant milestone towards its goal of becoming carbon neutral in its operations by 2025.
• The company has pledged to derive 100% of its revenue from sustainable products and solutions by 2025.

Customer Centricity

Customer centricity emphasizes putting customers at the forefront of business decisions and offering tailored solutions.

• Signify reported a customer satisfaction score of 92% in its latest survey, reflecting strong performance in meeting customer needs.
• The introduction of customized lighting solutions for major clients, including IKEA and other large retailers, exemplifies how Signify fosters strong partnerships.

Integrity

Integrity constitutes a fundamental value that guides Signify's business ethics and corporate governance.

• Signify maintains a robust compliance culture, with 100% of its employees trained in compliance and ethics programs as of 2023.
• In 2022, the company was recognized in the Dow Jones Sustainability Index for its strong commitment to ethical practices and transparency.

Collaboration

Collaboration reflects Signify's belief in teamwork and partnering with various stakeholders to achieve common goals.

• Signify has formed alliances with more than 2,000 partners globally, including technology firms and NGOs, to innovate in smart city projects.
• The company successfully implemented collaborative projects resulting in 15% increase in efficiency for its key supply chain operations in the past year.