Philips reports second-quarter comparable sales growth of 5% to EUR 5.9 billion; EBITA of EUR 450 million
Second-quarter highlights
- Growth led by 7% growth at Healthcare and 6% growth at Lighting
- Sales in growth geographies up 11% on a comparable basis, now representing 35% of total revenue
- Reported EBITA of EUR 450 million, or 7.6% of sales
- Net income of EUR 167 million
- Overhead-reduction plan on track; cumulative savings now EUR 176 million
- Distribution agreement signed for Lifestyle Entertainment in North America with Funai