Zumtobel’s revenue has fallen by 1.8 per cent for the period May 2012 to January 2013 when compared to the same period a year before.

The lighting manufacturer’s nine-month report for the 2012/13 financial year, shows a revenue drop of €17.7 million to €946.5 million (£826.1 million), when compared to €964.2 million (£841.5 million) in the previous year.

Revenues from LED product sales showed strong growth, rising by 55.4 per cent to €201.1 million (previous year: €129.4 million). As a result, the share of group revenues accounted for by LED products rose from 13.4 per cent to 21.2 per cent.

Despite a dramatic rise in LED product sales, the company said there had been a weakening in the third quarter, in relation to the Thorn brand. This was the result of more destocking by wholesalers and cost-cutting in the public sector.

In the lighting segment, Zumtobel and Thorn revenues remained nearly unchanged and totalled €712.0 million (previous year €712.4 million).

In the components business, Tridonic demonstrated a 7.3 per cent downturn, dropping to €288.1 million (£251.4 million) when compared to the year before €310.9 million (£271.3 million).

Compared to 30 April 2012, employee numbers were reduced by 1.6 per cent in the first nine months of 2012/13, falling from 7,456 to 7,336 full-time workers following changes in the workforce at Thorn and Tridonic.

Zumtobel group CEO Harald Sommerer said: “In a difficult business environment, we are continuing our strategy of making targeted investments in the expansion of our innovative product portfolio to ensure that we are ideally positioned during the technology shift to LEDs.”