Signify, the largest lighting company in the world, reported its financial results for the fourth quarter and the fiscal year of 2018. With increased LED-based sales, the company announced improved adjusted EBITA margin for the fourth quarter of 2018.

For the fourth quarter of 2018, Signify posted a revenue of EUR 1.73 billion (US$ 1.96 billion), dropped by 8.8% YoY. The adjusted gross margin was EUR 647 million (US$731.93 million) which declined 11.6% YoY. However, the adjusted EBITA of 4Q18 grew by 3.2% YoY at 214 million. For full year of 2018, the sales of Signify came to EUR 6.36 billion (US$ 7.2 billion) with a drop of 8.7% YoY. The adjusted gross margin of 2018 was EUR 2.43 billion (US$ 2.75 billion) with an 11.7% on year decline. The full year adjusted EBITA also dropped by 4.4% to EUR 640 million (US$ 723.90 million).

The sales of Signify’s LED-based products have grown by 2.5% and is currently accounting for 71% of its total revenue. Signify’s featured products include connected lighting system for its Home division and horticultural lighting products.

The company has continued its investment and development in horticulture growing light, solar powered lighting and LiFi technology. In 2019, Signify expects a comparable sales growth in the rage of 2-5%.

Eric Rondolat, CEO of Signify, said, “While market conditions are challenging, we continue to focus on new growth platforms to strengthen our market leadership and progressively improve our growth profile.”