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news release:
Philips reports 27% growth in Q1 EBITA
Amsterdam, The Netherlands, 16 April 2007:
Net income increases to EUR 875 million.
- EBITA amounted to EUR 353 million, or
5.9% of sales, compared with EUR 279 million, or 4.5% of sales, in Q1
2006.
- Including a gain on the sale of TSMC
shares, net income increased to EUR 875 million from EUR160million in Q1
2006.
- Sales totaled EUR 5,991 million, up 3%
on a comparable basis compared to the same period last year, driven by a
very strong performance at DAP and Lighting.
- So far this year, announcement of three
strategically aligned acquisitions that will add to growth.
Gerard
Kleisterlee, President and CEO of
Royal Philips
Electronics:
"Philips had an excellent start to 2007, with our
EBITA growing by 27% to EUR 353 million in the first quarter. This significant
growth reflects the strong market position of our more sharply focused portfolio
of businesses, and validates the strategic choices we have made in the past.
In the first quarter, our businesses showed significant - and in parts of
Consumer Retail exceptional - growth driven by innovation and the leveraging of
investments we are making to deliver on our "sense and simplicity" brand
promise. The integration of recent acquisitions such as Partners in Lighting
will further add to this.
It is encouraging to see that the acquisitions we have made are contributing
quickly to value creation. At Medical Systems the important integration of
Intermagnetics is well on track, once completed, to deliver the expected
benefits to our MR business. Our recent announcement on Health Watch will
further strengthen our leadership position in the fast growing market for
Emergency Response Services.
Our Lighting division is well positioned to benefit from the increasing
awareness of the need for lower energy consumption, and we are already seeing
the impact. In the first quarter, the strong top-line growth at Lighting was
partly attributable to our eco-friendly, energy-efficient solutions.
In the first months of this year, Philips continued efforts to forge alliances
with governments, industry partners and other organizations around the world to
accelerate the replacement of inefficient lighting with newer, more efficient
lighting solutions in the years to come.
We feel confident Philips will continue establishing a track record as a
successful acquirer and operator of businesses that create sustainable value and
drive increased growth and profitability for the group."
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