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Koninklijke Philips N.V.

Koninklijke Philips N.V.

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Publicatie datum 13 jul 2009 - 07:02
Statutaire naam Koninklijke Philips N.V.
Titel Philips reports second-quarter EBITA of EUR 118 million and sales of EUR 5.2 billion
Bericht July 13, 2009 PHILIPS REPORTS SECOND-QUARTER EBITA OF EUR 118 MILLION AND SALES OF EUR 5.2 BILLION • EBITA margin before restructuring charges improves compared with Q1 in all business sectors • EUR 148 million restructuring and acquisition-related charges are booked in the quarter • Sales decline 19% year-on-year, reflecting continuing weakness in consumer and professional markets • Healthcare sales decline year-on-year but increase compared with Q1, supported by modest growth outside the US • Strong free cash flow of EUR 251 million reflects ongoing tight asset management Gerard Kleisterlee, President and CEO of Royal Philips Electronics: "In line with earlier guidance, we did not see a material improvement in consumer or professional markets in the past three months. However, while the pressure on our top line persisted, we are reporting a positive net income and improved underlying profitability over the quarter. During the quarter we started to see the positive impact of our strict cost management on our results, while continuing to focus on making Philips more efficient. I’m especially pleased that our rigorous focus on cash is increasingly paying off, highlighted by the fact that cash inflow from operations in the second quarter more than doubled due to lower working capital requirements. At the same time we continued making strategic investments to strengthen our company for the medium and long term. We remain cautious about the overall economy and the markets we’re operating in and will not shy away from implementing further cost measures where needed. We do, however, expect our comparative performance to be better in the second half of 2009 than in the first half of the year as our cost-saving programs have an increasing impact on our earnings. On the same basis, there could be some early sequential improvement in comparable sales as well. We will continue to do everything necessary to come out of this recession as a stronger, more agile company a

Datum laatste update: 18 februari 2025