Koninklijke Philips N.V.
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Publicatie datum
18 apr 2006 - 07:02
Statutaire naam
Koninklijke Philips N.V.
Titel
Report on the performance of the Philips Group
Bericht
Report on the performance of the Philips Group
– all amounts in millions of euros unless otherwise stated; data included are unaudited
– financial reporting according to US GAAP unless otherwise stated
– includes reclassification of MDS to discontinued operations
Philips reports improved net income of EUR 160 million
Sales increased 14% to EUR 7,374 million
In the first quarter, Philips recorded net income of EUR 160 million (EUR 0.13 per share), compared with net income of EUR 117 million (EUR 0.09 per share) in the corresponding period of 2005. The increase was primarily attributable to improved performance of the main divisions, particularly Semiconductors and Lighting.
Sales increased strongly to EUR 7,374 million, 14% above Q1 2005. Adjusted for the effects of currency movements and consolidation changes, comparable sales increased by 10%, driven by strong growth in all main divisions.
EBIT amounted to EUR 335 million, compared to EUR 207 million in the same period of last year. The increase was largely driven by higher sales and improved business performance, particularly in the Semiconductors and Lighting divisions, and a EUR 30 million gain on the sale of the CryptoTec encryption business reported under Other Activities.
Financial income and expenses resulted in an expense of EUR 23 million, an improvement of EUR 25 million compared to Q1 2005. This improvement mainly resulted from a EUR 20 million revaluation of the option on the convertible bond issued by TPV.
Unconsolidated companies recorded a loss of EUR 36 million, compared to a profit of EUR 22 million in Q1 2005. In Q1 2005, income from TSMC of EUR 71 million was reported under results relating to unconsolidated companies. From 2006, a change in accounting treatment means that Philips no longer recognizes income from TSMC but rather will recognize a dividend, which will be reported in Q2 2006 under financial income and expense.
Cash outflow from operating activities increased to EUR 867
Datum laatste update: 20 januari 2025