Suggestions
Signify is committed to the following medium-term guidance for the period 2021-2023:
• Yearly comparable sales growth of 0% to 5%
• Adj. EBITA margin of 11% to 13% in 2023
• Free cash flow above 8% of sales for the period 2021-2023
• ROCE of at least 11% for the period 2021-2023
Signify has 124,831 thousand ordinary shares outstanding and a free float of 97% (as per June 30, 2021).
The Dutch Financial Markets Supervision Act requires persons holding a capital and/or voting interest of 3% or more in Signify to disclose such to the Dutch Authority for the Financial Markets (AFM). The AFM processes these disclosures in its publicly available register, which can be found at www.afm.nl . An overview of the relevant holdings for Signify can be found here .
In line with its commitment to its shareholders, Signify proposed to declare a cash dividend of EUR 1.40 per share for 2020. This is in addition to the previously proposed extraordinary cash dividend of EUR 1.35 per share, announced on January 13, 2021. The amount of extraordinary dividend is in line with the dividend proposal of EUR 1.35 for 2019, which was withdrawn to ensure the company's resilience and to strengthen its financial position during the COVID-19 crisis. Both dividend proposals will be subject to approval at the Annual General Meeting of Shareholders (AGM) to be held on May 18, 2021. The key dates for the dividend payment are as follows:
May 20, 2021 Ex-dividend date
May 21, 2021 Dividend record date
June 1, 2021 Dividend payment date
In January 2020, Signify announced that it has signed new committed financing facilities to replace its current term loans of EUR 740 million and USD 500 million, and its existing revolving credit facility of EUR 500 million which were due to expire in May 2021.
The new committed term loan structure consisted of EUR 400 million and USD 275 million with a maturity of three years (January 2023) and EUR 340 million and USD 225 million with a maturity of five years (January 2025). We entered into a new committed EUR 500 million multi-currency revolving credit facility (RCF) which has a maturity of five years (January 2025), with the option to extend it twice by one year at the end of the first and second anniversary. These new facilities have similar terms to the previous facilitie.
On September 30, 2020, Signify repaid EUR 350 million of the 3 year EUR term loan debt meaning that the remaining debt under the committed term loan structure consists of EUR 50 million and USD 275 million with a maturity of three years (January 2023) and EUR 340 million and USD 225 million with a maturity of five years (January 2025).
On April 30, 2020, Signify announced the successful pricing of its inaugural EUR 1.275 billion Eurobond Offering comprising of EUR 675 million fixed rate notes due 2024 with a coupon of 2.000% and EUR 600 million fixed rate notes due 2027 with a coupon of 2.375%. The notes are listed on the Official List of the Luxembourg Stock Exchange and traded on the regulated market of the Luxembourg Stock Exchange.
The net proceeds of the notes were used to refinance the bridge loan used to finance the acquisition of Cooper Lighting, which was completed on March 2, 2020.
More information can be found here.
September 30, 2021
Redburn ESG Conference
October 1, 2021
Closed period pre Q3 results
October 29, 2021
Third quarter results 2021