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Koninklijke Philips N.V.
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Publicatie datum
03 aug 2006 - 20:44
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips to complete its transformation from a cyclical technology company to a Healthcare and Lifestyle company built around a strong brand
Bericht
August 3, 2006
PHILIPS TO COMPLETE ITS TRANSFORMATION FROM A CYCLICAL TECHNOLOGY COMPANY TO A HEALTHCARE AND LIFESTYLE COMPANY BUILT AROUND A STRONG BRAND
· Philips to return approximately EUR 4 billion to shareholders through dividends and share repurchase.
· Company increases its focus on growth in Healthcare and Lifestyle sectors.
Amsterdam, The Netherlands – Royal Philips Electronics announced its intent for capital allocation following the divestment of an 80.1% majority share in its Semiconductor unit. The transaction, announced separately today, values this business at around EUR 8.3 billion.
Proceeds from the sale, after tax and transaction-related costs, will total approximately EUR 6.4 billion. Philips will return a total of EUR 4 billion to shareholders by the end of 2007 through a combination of dividends and share repurchases, including the EUR 1.5 billion share repurchase program already announced on July 17, 2006.
The company reiterated its strategy to re-invest in additional opportunities for high-margin growth, both organically and through acquisitions. In the last 12 months Philips has announced the investment of EUR 3.5 billion in eight acquisitions (some yet to be completed), predominantly in Medical Systems, Lighting and Consumer Health and Wellness. These have brought almost EUR 1 billion in new revenue and over 5,000 employees into the group. The company noted that the earlier acquisitions were performing in line with, or better than, expectations. R&D investment in targeted areas such as Lighting and Domestic Appliances has been increased, in order to stimulate organic growth. Philips also re-confirmed its intent to exit from its participations in LG.Philips LCD and TSMC in a responsible manner. In addition, Philips will continue to improve its cost structure by simplifying the organization and its ways of working.
"With this transaction we have now practically completed our shift towards more stable, cash generative businesses and
Datum laatste update: 06 oktober 2024