Koninklijke Philips N.V.
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Publicatie datum
16 dec 2009 - 07:00
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips udates markets on Consumer Lifestyle sector in meeting with financial analysts
Bericht
December 16, 2009
PHILIPS UPDATES MARKET ON CONSUMER LIFESTYLE SECTOR IN MEETING WITH FINANCIAL ANALYSTS
• DAP and CE merger completed; synergies delivered
• Emerging markets seen as a key driver of future sales growth
• TV business expected to be at least break-even in 2010
• Underlying GM&S result expected to improve by EUR 100 million in 2010
Amsterdam, The Netherlands – At a meeting with investors and financial analysts today, Royal Philips Electronics (NYSE: PHG, AEX: PHI), will update the market on its Consumer Lifestyle sector. Executives at Philips Consumer Lifestyle, including sector Chief Executive Officer Andrea Ragnetti, will elaborate on progress made during 2009 and on the longer-term strategy to become a leading health and well-being business. The sector will focus on the four consumer-driven value spaces of Healthy Life, Personal Care, Home Living and Interactive Living.
“We have come a long way since we formed the Consumer Lifestyle business by merging DAP and CE nearly two years ago. We have successfully reorganized ourselves, delivered on the promised cost-synergies and are coming through the recession as a stronger and more agile company,” said Mr. Ragnetti. “Today we will also show that we are ready to capture the next growth phase, driven by emerging markets. Our strong brand recognition and expanding product portfolio means we are ideally-positioned to benefit from the high-single digit growth expected in these markets over the coming years.”
Consumer Lifestyle has substantially reduced its cost base compared to 2007, including more than EUR 200 million of cost synergies from the merger of the DAP and CE businesses.
Today, Philips will unveil its latest steps to improve its TV business by intensifying its strategic partnerships with LG Display, Sharp and TPV to further optimize the supply chain in Brazil, Poland and China. Philips will also confirm that it continues to expect its TV business to post at least a break-even result in 2010.
Datum laatste update: 13 januari 2025