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Strong Q3 results for Philips

22 October 2012 13.00 BST


(Netherlands) - Third-quarter comparable sales growth of 5% to EUR 6.1 billion with LED sales up by 51%.

Philips has experienced strong growth in all three of its market sectors with 7% comparable growth in Healthcare, 3% in Consumer Lifestyle and 4% in Lighting. Sales in growth geographies (developing economies) were up 10% representing 36% of total revenue.

The 4% increased sales in lighting includes double-digit growth at Lumileds and Automotive and low-single-digit growth at Light Sources & Electronics. LED-based sales grew by a remarkable 51% and now account for 24% of total Lighting sales.

Reported EBITA margin for the quarter was 2.2%, reflecting higher restructuring and acquisition-related charges as well as a loss on the sale of industrial assets. Excluding these items, EBITA amounted to 7.0%.

Frans van Houten, CEO of Philips, commented: “LED-based sales continued to show strong momentum with comparable sales growth of over 50%, which requires us to accelerate the rationalization of our conventional lighting industrial footprint.”

 

 

Frans van Houten, CEO of Philips: “We continue to experience strong economic headwinds on a global scale, which affect growth going forward.”

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