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SOFTWARE INDUSTRY NEWS |
Philips reports Q4 2009 and annual results |
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Dutch electronics company Philips, which is also part of the Software Top 100 list, has reported strong fourth-quarter sales of €7.3 billion and EBITA of €662 million. Reporting strongly improved performance across all sectors, Philips said comparable sales on par with Q4 2008 in emerging markets were up 8%, while EBITA improved to 9.1% of sales. Adjusted EBITA of 12.3% at record level. The company reported an operating cash flow of €1.4 billion, once adjusted for legal settlement in North America. Net income was €260 million, which Philips said was driven by strong improvement in operational earnings and significantly lower charges. Proposed dividend has been maintained at €0.70 per share Gerard Kleisterlee, President and CEO of Royal Philips Electronics said comparable sales came in at last year’s level, delivering a record adjusted profitability of 12.3%. He said he was pleased with the company's improved performance being visible across all three operating sectors. “Despite continuing weakness in the US market, our Healthcare sector managed to deliver another bumper quarter with sales broadly on par with the strong performance of last year and with significantly higher earnings,” he said. Kleisterlee said Philips Consumer Lifestyle sector managed to show sales growth, with television turning a profit and virtually all other businesses posting significantly higher earnings despite the absence of a material recovery in consumer confidence. He said the Lighting sector continued to recover with strongly improved earnings and rebounding sales “even though the commercial construction market continued to be in decline; and for the first time, LED-based products exceeded 10% of total sector sales.” |
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