Philips 4Q Net Profit Down, Backs Guidance
30 Enero 2018 - 01:01AM
Noticias Dow Jones
By Carlo Martuscelli
Koninklijke Philips NV (PHIA.AE) said Tuesday that net profit
decreased 26% in the fourth quarter, as it backed its 2018 guidance
and kept its dividend unchanged.
The Dutch electronics producer said that net profit was 476
million euro ($590 million) in the last three months of 2017,
compared with EUR640 million the year before.
Comparable sales were up 5% on the back of its personal-health
division as well as its diagnosis and treatment businesses. Philips
said it increased its adjusted earnings before interest, tax, and
appreciation margin by 140 basis points to 16.7%.
The company kept its dividend unchanged form last year at 80
cents.
Chief Executive Frans van Houten backed the company's targets
for 2018, and said he was confident in delivering 4%-6% comparable
sales growth and on average 100 basis points annual improvement in
adjusted Ebita margin this year.
"We expect our markets to grow at 3%-5% on a comparable basis in
2018," he added.
The company said it had reduced its shareholding in Philips
Lighting down to 29% as of Dec. 31.
Philips said that it was delivering on its productivity program
ahead of schedule, with annual savings of EUR483 million, ahead of
its EUR400 million target.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
January 30, 2018 01:46 ET (06:46 GMT)
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