Philips’ First Quarter Results 2013

Amsterdam, April 22, 2013

Report

Q1 2013 resultsPDF 273.6 kB

Presentation

Q1 2013 presentationPDF 3.2 MB

Webcast

Q1 2013 transcriptPDF 203.7 kB

Philips operational results improve by 31% to EUR 421 million; net income at EUR 162 million

First-quarter highlights

  • Comparable sales increased by 1%; growth geographies up by 4%
  • EBITA was EUR 402 million or 7.6% of sales
  • EBITA excluding restructuring and acquisition-related charges increased to EUR 421 million or 8.0% of sales, a significant improvement over the 6.1% of sales in Q1 2012
  • Net income of EUR 162 million was significantly better than Q1 2012 excluding one-off gains
  • Consumer Lifestyle sales grew 10%; the Audio, Video, Multimedia and Accessories business is reported as discontinued operations as of Q1 2013 following the signing of the agreement with Funai
  • Free cash flow was EUR 78 million, excluding payment of the EUR 509 million European Commission fine
  • Inventories as a percentage of sales improved by 1.4 percentage points compared to Q1 2012