Philips reports a 19% improvement in Adjusted EBITA to EUR 1 billion, net income of EUR 640 million and sales of EUR 7.2 billion in Q4, with the HealthTech portfolio growing at 5%
Fourth-quarter highlights
- Sales increased to EUR 7.2 billion, with comparable sales growth of 5% in the HealthTech portfolio and Group consolidated comparable sales growth of 3%
- Adjusted EBITA amounted to EUR 1 billion, or 13.8% of sales, compared to 11.9% of sales in Q4 2015
- EBITA totaled EUR 914 million, or 12.6% of sales, compared to 3.7% of sales in the same period of the previous year
- Income from operations (EBIT) amounted to EUR 826 million, compared to EUR 162 million in Q4 2015
- Net income amounted to EUR 640 million, compared to a net loss of EUR 39 million in Q4 2015
- Operating cash flow totaled EUR 1.1 billion, compared to EUR 956 million in Q4 2015; free cash flow of EUR 843 million, compared to EUR 740 million in Q4 2015
- Agreement signed to sell majority interest in the combined Lumileds and Automotive businesses
Full-year highlights
- Sales increased to EUR 24.5 billion, with comparable sales growth of 5% in the HealthTech portfolio and Group consolidated comparable sales growth of 3%
- Adjusted EBITA totaled EUR 2.6 billion, or 10.5% of sales, compared to 9.2% of sales in 2015
- EBITA amounted to EUR 2.2 billion, or 9.1% of sales, compared to 5.7% of sales in the previous year
- Income from operations (EBIT) amounted to EUR 1.9 billion, compared to EUR 992 million in 2015
- Net income amounted to EUR 1.5 billion, compared to EUR 659 million in 2015
- Operating cash flow totaled EUR 1.9 billion, compared to EUR 1.2 billion in 2015; free cash flow of EUR 1.1 billion, compared to EUR 325 million in 2015
- Proposal to maintain dividend at EUR 0.80 per share