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Last updated : 26/10/2026 - 17h35
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Lighting: Signify advocates for modernizing existing infrastructure, 74% of studied projects prove beneficial

Released on October 26, 2026 ahead of COP31 in Antalya, the analysis concludes that 37 of the 50 lighting projects studied, or 74%, reported benefits in terms of investment, maintenance, or financing. The Dutch group has used this as a basis for advocating the modernization of installations by retaining still-functional equipment rather than replacing them outright.


Lighting: Signify advocates for modernizing existing infrastructure, 74% of studied projects prove beneficial

Ten sectors studied, including Dublin Port tunnel

The study was conducted by the Circular Economy and Sustainability Lab at the University of Oxford and by the association Academics for Circular Economy e.V., with support from Signify. The 50 projects analyzed cover ten sectors, including hospitals, schools, airports, offices, ports, tunnels, and municipal infrastructure. Energy savings were reported in 36 of them, with a median reduction of 59.5%.

The press release cites the example of Dublin Port tunnel, which modernized approximately 1,800 light points within its existing infrastructure. Signify estimates that this approach saved 3 million euros in investment compared to installing an entirely new LED system.

"Innovation should not automatically mean replacement," said Mario Giordano, Head of Global Public and Government Affairs at Signify. According to him, when poles, cables, housings, and other infrastructure remain fit for purpose, the most sustainable approach to modernization often consists of building on what already exists.

Systemic obstacles and Signify Circle program

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The analysis suggests that obstacles to circular approaches are often systemic rather than technical. It cites product design, limited access to spare parts and repair information, as well as gaps in financing, ownership models, data, and expertise. Purchases focused on initial cost, limited reuse circuits, and underdeveloped reverse logistics can constitute additional barriers.

The report calls for strengthened collaboration between industry and public authorities, and procurement practices that take into account value across the entire lifecycle, upgrade capability, and the value of retained infrastructure. "This is not an argument against replacement," clarified Priya Saikumar, doctoral researcher at the University of Oxford, but "against making replacement the starting point".

Signify presented its Signify Circle program, which combines circular design, spare parts, upgrade kits, lifetime optimization, and a "Light-as-a-Service" offering. According to Mario Giordano, this program aims to keep lighting products and components in service longer and to preserve their value.



Sector Machines et équipements industriels › Câbles et équipements électriques


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Context

Period
  • Period: T3 2026
Key reported figures
  • Revenue: 1 367 millions d'euros
  • Quarterly revenue: 1 367 millions d'euros
  • Revenue growth: -2,9 %
  • Net income: 88 millions d'euros
  • Free cash flow: 118 millions d'euros
Guidance from the release
  • Signify expects challenging market conditions to persist, with continued pressure in Professional Europe and softening of US project demand.
Risks mentioned
  • Continuing market weakness and challenging market conditions expected to persist
  • Continued pressure in Professional Europe
  • Softening of US project demand
Opportunities identified
  • Turnaround plans on track in Harvest portfolio with OEM and Genlyte delivering improved profitability
  • Accelerating growth in and beyond lighting in India
  • Strong cost management and disciplined pricing reflected in improved profitability margins
Outlook / guidance
  • Management commentary: Signify confirms its full-year adjusted EBITA margin guidance at the higher end of the 7.5–8.5% range including US tariff refunds received through the third quarter, and at the lower end excluding these refunds. Free cash flow guidance remains unchanged at 6.5–7.5% of sales.

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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