Philips’ First Quarter Results 2014

Amsterdam, April 22, 2014

Report

Q1 2014 resultsPDF 306.5 kB

Presentation

Q1 2014 presentationPDF 3.4 MB

Webcast

Q1 2014 transcriptPDF 195.3 kB

Philips reports Q1 sales of EUR 5 billion and operational results of EUR 368 million

First-quarter highlights

  • Group comparable sales growth flat, with sales in growth geographies up 5%
  • Healthcare comparable equipment order intake up 1%
  • Currency negatively impacted sales by 5% and EBITA by 1.8 percentage points of sales
  • EBITA of EUR 314 million, compared to EUR 402 million in Q1 2013
  • EBITA excluding restructuring and acquisition-related charges amounted to EUR 368 million, or 7.3% of sales, compared to 8.0% in Q1 2013
  • Net income of EUR 137 million, compared to EUR 162 million in Q1 2013
  • Free cash outflow of EUR 72 million, excluding a EUR 273 million pension contribution related to the de-risking of the Dutch pension plan
  • Inventories improved by 0.6 percentage points to 14.9% of sales
  • Company reiterates commitment to 2016 financial targets