Philips reports Q4 sales of EUR 6.5 billion and operational results of EUR 743 million
Fourth-quarter highlights
- Comparable sales declined 2%
- EBITA, excluding restructuring and acquisition-related charges and other items, amounted to EUR 743 million, or 11.4% of sales, compared to 12.9% in Q4 2013
- EBITA amounted to EUR 262 million, impacted by restructuring costs and other items, compared to EUR 789 million in Q4 2013
- Net income amounted to EUR 134 million, compared to EUR 412 million in Q4 2013
- Free cash flow improved to EUR 559 million, compared to EUR 481 million in Q4 2013
Full-year highlights
- Comparable sales declined 1% to EUR 21.4 billion
- EBITA, excluding restructuring and acquisition-related charges and other items, amounted to EUR 1.9 billion, or 9.0% of sales, compared to EUR 2.3 billion, or 10.5% of sales, in 2013
- EBITA amounted to EUR 821 million, or 3.8% of sales, compared to EUR 2.3 billion, or 10.4% of sales, in 2013
- Net income amounted to EUR 411 million, compared to EUR 1.2 billion in 2013
- Free cash flow improved to EUR 497 million, compared to EUR 82 million in 2013
- Return on invested capital was 4.5%, compared to 13.9% in 2013
- Proposal to maintain dividend at EUR 0.80 per share
Group Financials have been restated as of the fourth quarter of 2014 and for prior periods to show the results of the combined businesses of Lumileds and Automotive as discontinued operations in connection with the process of attracting third-party investors.