Philips reports second-quarter EBITA of EUR 118 million and sales of EUR 5.2 billion
Second-quarter highlights
- EBITA margin before restructuring charges improves compared with Q1 in all business sectors
- EUR 148 million restructuring and acquisition-related charges are booked in the quarter
- Sales decline 19% year-on-year, reflecting continuing weakness in consumer and professional markets
- Healthcare sales decline year-on-year but increase compared with Q1, supported by modest growth outside the US
- String free cash flow of EUR 251 million reflects ongoing tight asset management