Philips to sell at least 25% of Lighting business in IPO

The offering would consist of a sale of existing shares only held by Royal Philips – which is the current sole shareholder of Philips Lighting. The offering and listing, and their timing, are subject to, among other factors, market conditions. For the year ended 31 December 2015, Philips Lighting generated EUR 7,465 million of sales and Adjusted EBITA of EUR 547 million, representing an Adjusted EBITA ratio of 7.3% of sales. Income from Operations (EBIT) amounted to EUR 331 million for the year ended 31 December 2015. At the time of the IPO, the Company is expected to have a net financial indebtedness of approximately EUR 950 million representing approximately 1.5x 2015 EBITDA. Royal Philips intends to sell at least 25% of the Philips Lighting shares in the IPO. After the IPO Royal Philips will retain a majority holding with the aim to fully sell down over the next several years as the company focuses on its healthtech businesses.