Philips reports Q4 comparable sales growth of 2% to EUR 7.1 billion and a 13% improvement in Adjusted EBITA to EUR 842 million
Fourth-quarter highlights
- Comparable sales up 2%, driven by 4% growth in the HealthTech portfolio
- Currency-comparable order intake up 15%, driven by North America, China and Western Europe
- Adjusted EBITA improved 50 basis points to 11.9% of sales and amounted to EUR 842 million
- EBITA amounted to EUR 263 million, or 3.7% of sales
- Net loss of EUR 39 million, impacted by one-time charges including previously announced pension de-risking, compared to net income of EUR 134 million in Q4 2014
- Free cash flow of EUR 740 million, compared to EUR 559 million in Q4 2014
- Philips Lighting separation process on track
Full-year highlights
- Comparable sales up 2% to EUR 24.2 billion, driven by above 4% growth in the HealthTech portfolio
- Currency-comparable order intake up 5%, driven by North America and Western Europe
- Adjusted EBITA improved 20 basis points to 9.2% of sales and amounted to EUR 2.2 billion
- EBITA totaled EUR 1.4 billion, or 5.7% of sales, compared to EUR 821 million, or 3.8% of sales, in 2014
- Net income amounted to EUR 659 million, compared to EUR 411 million in 2014
- Free cash flow of EUR 325 million, compared to EUR 497 million in 2014
- Return on invested capital increased to 7.0%, compared to 4.5% in 2014
- Proposal to maintain dividend at EUR 0.80 per share