Lumileds Holding Credit Report

22 July 2019

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Lumileds’ revenue continued to weaken in 1Q19, falling approximately 31% yearover- year (YoY), to USD 318m from USD 459m. The company’s top line has softened for several consecutive quarters, largely driven by lower demand from its core automotive and smartphone customers. Historically, the automotive industry comprised roughly 60% of Lumileds’ total sales, according to Moody’s and S&P. More than 60% of these sales are from customers in China and Europe, which experienced weak automotive sales in 1Q19. S&P also stated that sales to mobile phone manufacturers accounted for 24% of 2017 sales.