Philips: sales increase by 2% in the third quarter

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Frans van Houten, Philips Ceo
Frans van Houten, Philips Ceo
Frans van Houten, Philips Ceo

In the third quarter Philips reported a comparable sales growth of 2%, equal to 5.8 billion euro, and an improvement in operational results reaching 570 million euro. The increase in sales was driven by North America, Asia Pacific and Central & Eastern Europe. Besides, currency-comparable order intake was up 2%, driven by 6% growth in North America. EBITA, excluding restructuring and acquisition-related charges and other items, amounted to 570 million euro, or 9.8% of sales, compared to 9.1% of sales in Q3 2014. EBITA totaled 429 million euro, or 7.4% of sales, compared to a loss of 62 million euro in Q3 2014. Net income achieved 324 million euro, compared to a net loss of 103 million euro in Q3 2014. “Philips delivered improved results for the third quarter of 2015, confirming that our operational performance continues to strengthen, despite deteriorating macro-economic conditions in a number of markets, most notably in China – commented Frans van Houten, Philips Ceo -. Healthcare comparable sales and order intake increased, driven by North America. Operational results also improved year-on-year, despite the impact of China and foreign exchange headwinds. Consumer Lifestyle again delivered a strong performance, with a significant product mix improvement driven by high growth in Health & Wellness and Personal Care. Lighting continued its trend of year-on-year performance improvement, driven by strong growth in our LED businesses, while we continue to actively manage the conventional lighting market decline. For full-year 2015, we continue to expect modest comparable sales growth and an improvement of our operational performance”.

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