Philips’ First Quarter Results 2009

Amsterdam, April 14, 2009

Report

Q1 2009 resultsPDF 399 kB

Presentation

Q1 2009 presentationPDF 1.3 MB

Webcast

Q1 2009 transcriptPDF 182 kB

Philips reports a 17% decline in sales to EUR 5.1 billion in Q1; net loss of EUR 59 million

First-quarter highlights

  • Global downturn in consumer and lighting markets
  • Healthcare facing a very soft US hospital market; performance in emerging markets and Home Healthcare Solutions remains strong
  • EBITA loss of EUR 74 million includes charges of EUR 77 million
  • Reduction of fixed cost base progressing well and expected to exceed EUR 500 million annualized by the end of this year
  • Rigorous management of working capital continues; cash balance increased, net debt reduced