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Electronics Production | April 19, 2010

Philips post profit in Q1

The Netherlands based Royal Philips Electronics reports first quarter sales of EUR 5,7 billion and EBITA of EUR 504 million.

Comparable sales up 12%; growth in all sectors, led by Lighting at 18%. 22% growth in emerging markets. 20% growth of equipment order intake at Healthcare. EBITA of EUR 504 million, or 8.9% of sales; Consumer Lifestyle’s adjusted EBITA hit 8.2% for the last twelve months. Net income of EUR 201 million Gerard Kleisterlee, President and CEO of Royal Philips Electronics: “I believe that with the results we have delivered in recent quarters, we have started to demonstrate the real potential of our business portfolio. While our Q1 results of course compare very favorably with the recession-impacted Q1 2009, they are in an absolute sense at a level that we have not seen before in a first quarter. On the back of good 12% sales growth and continued sound cost management, group adjusted EBITA came in at EUR 554 million, or 9.8% of sales. Growth at Lighting was an impressive 18%, despite a large Professional Luminaires business which is not yet rebounding. Consumer Lifestyle has now recorded 8.2% adjusted EBITA over the past 12 months. Our Healthcare sector complemented overall good results with 20% growth in equipment order intake. Nevertheless, economic uncertainty remains high and consumer confidence low. At the same time, some key markets such as the construction sector have yet to recover. However, our strong fundamentals, sound strategy and ability to adapt swiftly to changing market circumstances have put us in a good position for continued success.”
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