Edition:
United Kingdom

Philips Q2 Adjusted EBITA Beats Company-Compiled Poll


Monday, 22 Jul 2019 

July 22 (Reuters) - Koninklijke Philips NV ::PHILIPS DELIVERS Q2 SALES OF EUR 4.7 BILLION, WITH 6% COMPARABLE SALES GROWTH AND 8% COMPARABLE ORDER INTAKE GROWTH; INCOME FROM CONTINUING OPERATIONS INCREASES TO EUR 260 MILLION AND ADJUSTED EBITA MARGIN IMPROVES TO 11.8%.WE CONTINUE TO EXPECT OUR PERFORMANCE MOMENTUM TO FURTHER IMPROVE IN SECOND HALF OF YEAR.SALES IN QUARTER AMOUNTED TO EUR 4.7 BILLION, WITH 6% COMPARABLE SALES GROWTH.Q2 OPERATING CASH FLOW AMOUNTED TO EUR 390 MILLION, COMPARED TO EUR 130 MILLION IN Q2 2018; FREE CASH FLOW WAS EUR 174 MILLION.Q2 COMPARABLE ORDER INTAKE INCREASED 8%.WE MAINTAIN OUR OVERALL TARGETS FOR 2017-2020 PERIOD..Q2 INCOME FROM CONTINUING OPERATIONS INCREASED TO EUR 260 MILLION, COMPARED TO EUR 186 MILLION IN Q2 2018.Q2 EPS INCREASED AS INCOME FROM CONTINUING OPERATIONS PER SHARE (DILUTED) AMOUNTED TO EUR 0.28;.Q2 ADJUSTED EBITA MARGIN WAS 11.8% OF SALES, COMPARED TO 11.2% OF SALES IN Q2 2018.Q2 ADJUSTED EPS INCREASED 23% AS ADJUSTED INCOME FROM CONTINUING OPERATIONS PER SHARE (DILUTED) AMOUNTED TO EUR 0.43.Q2 INCOME FROM OPERATIONS INCREASED TO EUR 350 MILLION, COMPARED TO EUR 298 MILLION IN Q2 2018.Q2 ATTRIBUTABLE NET INCOME EUR 256 MILLION VERSUS EUR 239 MILLION IN COMPANY-COMPILED CONSENSUS.ADJUSTED EBITA MARGIN FOR GROUP IMPROVED BY 60 BASIS POINTS, MAINLY DRIVEN BY PERFORMANCE IMPROVEMENT OF DIAGNOSIS & TREATMENT BUSINESSES - CEO.Q2 ADJUSTED EBITA EUR 549 MLN VS EUR 542 MLN IN COMPANY-COMPILED CONSENSUS.