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Koninklijke Philips N.V.
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Publicatie datum
26 jan 2009 - 07:01
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips reports Q4 sales of EUR 7.6 billion
Bericht
January 26, 2009
PHILIPS REPORTS Q4 SALES OF EUR 7.6 BILLION
EBITA of EUR 141 million includes EUR 390 million of restructuring and acquisition-related charges
• Healthcare showed strong Q4 sales growth of 9% and improved earnings; lower sales at Consumer Lifestyle and parts of Lighting reflect the challenging retail and automotive markets
• Rigorous management of working capital secured strong cash flow; production stops to manage inventory impacted EBITA by EUR 60 million
• Net quarterly loss of EUR 1.5 billion includes EUR 1.3 billion of non-cash value adjustments and EUR 150 million of year-end tax adjustments
• Proposal to distribute EUR 0.70 per share for 2008
• Full-year sales of EUR 26.4 billion delivered EBITA of EUR 931 million
Gerard Kleisterlee, President and CEO of Royal Philips Electronics:
“While we are very pleased with the excellent performance of Healthcare, our fourth-quarter results are a reflection of both the severe impact of the global financial and economic crisis and the decisive actions taken by management. The effects of the steep downturn have led not only to value adjustments of our remaining financial holdings and the impairment of goodwill at Lumileds, but also to a sharp reduction in demand, especially in Consumer Lifestyle and in our OEM businesses in Lighting, compounded by de-stocking in the whole supply chain. In response, management has given absolute priority to cash flow, where necessary at the expense of EBITA, and to the acceleration of our restructuring and change programs. We expect these programs to deliver benefits of approximately EUR 400 million on an annualized run rate, taking effect in the second half of 2009. We have sustained our spending levels on R&D and marketing as innovation is now more crucial than ever.
The increased strength of our business portfolio was particularly evident in Healthcare in the fourth quarter, where we grew sales by 9% comparably and continued to gain market share, while EBITA was a
Datum laatste update: 07 oktober 2024