November 8, 2018 / 10:07 AM / 10 days ago

Philips targets free cash flow of over $1.7 billion by 2020

AMSTERDAM, Nov 8 (Reuters) - Dutch health technology company Philips said on Thursday it expected to increase its free cash flow to more than 1.5 billion euros ($1.7 billion) by 2020, up from 1.2 billion last year.

The company reaffirmed its other targets for the period until 2020 ahead of its capital markets day, including annual comparable sales growth of 4 to 6 percent and a yearly improvement of its adjusted core earnings EBITDA margin of 1 percentage point.

$1 = 0.8754 euros Reporting by Bart Meijer; Editing by Mark Potter

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