Philips closed the second quarter with a net profit of 246 million euros, an exponential growth compared to the two million recorded in the same period last year. The Dutch electronics group achieved this result thanks to the sale of its lighting business (Signify), which entered the stock exchange.
The company also specifies that it has also benefited from an improvement in its operating performance and a decrease in net financial expenses. In fact, turnover reached 4,7 billion euros, with an increase of 6% on equivalent terms.
In line with analysts' expectations, the Group's adjusted operating margin (Ebita) was 11,8%, a performance appreciated by investors.
These numbers allow Philips to confirm its 2020 targets: 4-6% like-for-like sales growth and 100 basis points annual improvement in adjusted operating margin (Ebita) between 2017 and 2020.
“I am satisfied with the 6% increase in sales in terms of sales in the second quarter, to which all divisions contributed”, commented the CEO of the group, Frans van Houten.
