Koninklijke Philips N.V.
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Publicatie datum
16 okt 2006 - 07:07
Statutaire naam
Koninklijke Philips N.V.
Titel
Report of the performance of the Philips group
Bericht
October 16, 2006
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
– restated for the sale of the Semiconductors and MDS businesses
High-margin divisions report comparable sales growth of 8% and EBIT increase of 12%
Group net income was EUR 4.2 billion in the third quarter
Sales increased by 1% in the third quarter to EUR 6,313 million. Adjusted for the effects of currency movements and consolidation changes, comparable sales increased by 5%, driven by strong growth in the high-margin Medical Systems, DAP and Lighting divisions, partly offset by some decline at CE as a consequence of the division’s focus on margin improvement.
EBIT in the quarter amounted to EUR 290 million, before changes in estimation methodology for asbestos-related product liabilities, which resulted in a charge, net of insurance recoveries, of EUR 265 million. In Q3 2005, EBIT of EUR 353 million included a gain of EUR 136 million due to the completion of the TPV deal. Excluding this gain, Medical Systems, Lighting, DAP and CE delivered strong increases in profitability compared to Q3 2005.
Financial income and expenses resulted in income of EUR 32 million, including gains of EUR 97 million from TSMC, compared to income of EUR 190 million in Q3 2005. Last year’s figure included a gain of EUR 233 million on the sale of the remaining stakes in Atos Origin and Great Nordic.
Unconsolidated companies recorded a loss of EUR 81 million, which was wholly attributable to lower results from LG.Philips LCD. Q3 2005 income of EUR 929 million included a gain on the sale of shares in TSMC (EUR 460 million) and a sale of shares and dilution gain at LG.Philips LCD totaling EUR 310 million.
Net income of EUR 4,242 million (EUR 3.57 per share) compared to EUR 1,436 million (EUR 1.14 per share) in the corresponding period of 2005. Income from discontinue
Datum laatste update: 29 december 2025