Koninklijke Philips N.V.
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Publicatie datum
02 jun 2006 - 09:17
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips CFO Updates Market at Credit Suisse Annual European Technology Conference
Bericht
June 2, 2006
PHILIPS CFO UPDATES MARKET AT CREDIT SUISSE ANNUAL EUROPEAN TECHNOLOGY CONFERENCE
Barcelona, Spain – Pierre-Jean Sivignon, Chief Financial Officer of Royal Philips Electronics (AEX: PHI, NYSE: PHG), will today address the Credit Suisse Annual European Technology Conference in Barcelona, Spain. Mr. Sivignon will use this forum to update the market on Philips' continuing transformation into a healthcare, lifestyle and technology company, and will discuss how the company is becoming a more market driven company and focusing on creating opportunities for profitable growth.
Mr. Sivignon will review steps Philips continues to take to expand its profitable and growing Medical, Lighting and Domestic Appliance businesses. He will also address how the company is taking up a position in promising new fields – such as the new market in consumer health and wellness, as seen in a recent announcement by Philips that it will acquire the UK mother and babycare products company AVENT Holdings Ltd. At the conference, Mr. Sivignon will also confirm that Philips is on track to meeting its medium-term targets of 5 to 6% top-line growth and attain a 7 to 10% EBIT margin as from the end of 2006.
Finally, an update will be provided on Philips' first quarter results press release of 18 April 2006, in which it was announced that an expected EUR 430 million financial income (net of tax) in respect of TSMC cash and stock dividends would be realized in Q2 2006. However, based on latest currency rates and stock prices, and also taking into account the impact of the average cost price of TSMC shares, the financial income (net of tax) is now estimated at EUR 335 million. Included in this amount is a gain of EUR 112 million related to the transfer of the stock dividend shares to a trading portfolio, which Philips plans to book in Q3 2006. The remaining EUR 223 million will be booked in Q2 2006.
The presentation on June 2 starts at 10.30 local time and will be available via a
Datum laatste update: 17 december 2025