Signify climbed on the stock market this Friday after predicting savings of over 200 million euros on an annualized basis thanks to the implementation of new structural measures.

This morning, the Dutch lighting specialist unveiled a new operating model, consisting of four main business lines, with the stated aim of improving the customer experience and the speed with which decisions are made.

From now on, the company's business will be structured around solutions for professionals (LEDs and connected systems for businesses), consumer products (including the Philips Hue and WiZ brands), OEM activities and a "commercial" division offering special lighting, digital projection and electronic equipment.

These changes, which will be implemented next year, should be completed for the most part by the second quarter, says Signify in a press release.

Following these announcements, the stock gained over 6% on Friday around 11:15 a.m. on Euronext Amsterdam, posting the biggest rise on the AMX index of Dutch mid-caps.

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