Philips operational results improved by 50% to EUR 875 million, while net income was impacted by significant charges in Q4
Fourth-quarter highlights
- Deal signed to transfer Audio, Video, Multimedia and Accessories business to Funai Electric Co., Ltd.
- Comparable sales increased 3%; growth geographies up 10%
- EBITA excluding restructuring and other charges increased by 50% to EUR 875 million, or 12.2% of sales; reported EBITA of EUR 50 million
- Net income, excluding the European Commission fine of EUR 509 million, amounted to EUR 154 million
- Inventories as a percentage of sales improved by 2 percentage points compared to fourth quarter of 2011
- Free cash flow of EUR 899 million
- Proposed dividend at EUR 0.75 per share