January 30, 2018 / 6:34 AM / 3 months ago

BRIEF-Koninklijke Philips Q4 net income from continuing operations 476 million euros

Jan 30 (Reuters) - KONINKLIJKE PHILIPS NV:

* PHILIPS REPORTS Q4 SALES OF EUR 5.3 BILLION, WITH 5% COMPARABLE SALES GROWTH; NET INCOME FROM CONTINUING OPERATIONS AMOUNTED TO EUR 476 MILLION AND ADJUSTED EBITA MARGIN INCREASED 140 BASIS POINTS TO 16.7% (REMOVES REFERENCE TO PHILIPS LIGHTING NV)

* Q4 SALES OF EUR 5.3 BILLION, WITH 5% COMPARABLE SALES GROWTH

* Q4 NET INCOME FROM CONTINUING OPERATIONS AMOUNTED TO EUR 476 MILLION

* Q4 ADJUSTED EBITA EUR 884 MILLION VERSUS EUR 917 MILLION IN REUTERS POLL

* Q4 EBITA EUR 790 MILLION VERSUS EUR 738 MILLION IN REUTERS POLL

* PROPOSAL TO MAINTAIN DIVIDEND AT EUR 0.80 PER SHARE

* OPERATING CASH FLOW TOTALED EUR 1,202 MILLION, COMPARED TO EUR 758 MILLION IN Q4 2016

* Q4 EBIT EUR ‍​ 723 MILLION VERSUS EUR 693 MILLION YEAR AGO

* FREE CASH FLOW INCREASED TO EUR 948 MILLION, COMPARED TO EUR 551 MILLION IN Q4 2016

* WE EXPECT OUR MARKETS TO GROW AT 3-5% ON A COMPARABLE BASIS IN 2018.

* CONFIDENT THAT WE WILL DELIVER ON OUR MID-TERM TARGETS OF 4-6% COMPARABLE SALES GROWTH

* CONFIDENT THAT WE WILL DELIVER ON TARGET OF AN ANNUAL 100 BASIS POINTS IMPROVEMENT IN ADJUSTED EBITA MARGIN THIS YEAR

* GIVEN PHASING OF OUR ORDER BOOK, WE EXPECT IMPROVEMENTS TO BE AT BACK END OF YEAR.”

* EUR 72 MILLION ONE TIME NON CASH TAX CHARGE DUE TO VALUATION ADJUSTMENT OF PHILIPS’ US DEFERRED TAX ASSETS FOLLOWING US TAX REFORM

* REUTERS POLL : Q4 SALES EUR 5.45 BILLION; Q4 ADJUSTED EBITA EUR 917 MILLION;

* REUTERS POLL : Q4 NET INCOME EUR 469 MILLION; Q4 EBITA EUR 738 MILLION Source text for Eikon: philips.to/2nkQQAu Further company coverage: (Gdynia Newsroom:)

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