Koninklijke Philips N.V.
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Publicatie datum
13 sep 2011 - 08:09
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips gives update on Accelerate! program to achieve profitable growth through innovation and entrepreneurship
Bericht
Philips gives update on Accelerate! program to achieve profitable growth through innovation and entrepreneurship
EUR 800 million in identified cost savings will streamline organization and reduce overhead costs allowing higher investments in innovation and sales growth
London, UK – At a meeting with investors and financial analysts today in London, UK, Royal Philips Electronics (NYSE: PHG, AEX: PHI) will update the financial market on the developments in the Lighting and Consumer Lifestyle sectors.
As part of his company update, Philips Chief Executive Officer Frans van Houten will discuss the progress that is being made with the Accelerate! program to drive innovation and customer centricity, while reinforcing performance improvements. The earlier announced program to reduce complexity and indirect costs by EUR 500 million is now targeted at EUR 800 million. As communicated earlier, the company reconfirms its intention to step up additional investments in R&D and customer-facing resources of around EUR 200 million a year.
“I am glad to see continued growth in our core businesses in Healthcare, Consumer Lifestyle, and the LED segment of Lighting, with strong positions in both growth and mature geographies,” said Mr. Van Houten. “We will continue to expand our market leadership through increased innovation efforts and customer intimacy, while removing complexity and changing our culture to transform Philips into a more entrepreneurial company. As a result of our efforts and despite economic challenges, we are confident that we can deliver on our 2013 financial targets of 4-6% sales growth, 10-12% EBITA, and 12-14 ROIC, as announced in July 2011.”
After the company update, Mr. Van Houten and Chief Financial Officer Ron Wirahadiraksa will take part in a question-and-answer session with the investors and analysts present in London. As interim Chief Executive Officer and Chief Financial Officer at Philips Lighting respectively, Mr. Van Houten and Mr. Wirahadiraks
Datum laatste update: 07 oktober 2024