Philips on track for 2013 target

”I am encouraged by our results in the first quarter of 2012, which is a further step in the right direction for Philips on our path to value to achieve the mid-term 2013 financial targets. Accelerate! is beginning to impact the company’s performance, and cost-saving initiatives are on track. Healthcare sales and order intake showed robust growth, and the growth businesses of Consumer Lifestyle continued to perform well”, says CEO Frans van Houten. - Comparable sales up 4%, led by 9% growth at Healthcare - Sales in growth geographies up 9% on a comparable basis - Reported EBITA of 9.8% of sales - Net income of EUR 249 million - Free cash flow of EUR 642 million