Philips reports Q1 comparable sales growth of 3% to EUR 5.5 billion and a 14% improvement in Adjusted EBITA to EUR 374 million
First-quarter highlights
- Comparable sales growth driven by 5% growth in HealthTech portfolio
- Adjusted EBITA amounted to EUR 374 million, or 6.8% of sales, compared to 6.1% of sales in Q1 2015
- EBITA totaled EUR 290 million, or 5.3% of sales, compared to 4.3% of sales in Q1 2015
- Net income amounted to EUR 37 million, compared to EUR 100 million in Q1 2015, mainly impacted by tax charges related to the separation
- Free cash outflow of EUR 177 million, compared to an outflow of EUR 443 million in Q1 2015
- Philips Lighting separation process well on track