Vladimír Urbánek (Kurzy.cz)
World markets  |  October 22, 2012 11:37:13

Philips 3Q results beat estimates

World leader in the manufacture of light sources, the Dutch Royal Philips Electronics, announced that in Q3 of this year, the growth in gross profit before tax and amortization up by 43% to 562 million euros, which is quite significantly exceeded market expectations set in this matter 520 miles . EUR.
Net profit reached 170 million euros.
Total comparable sales grew by 5% and amounted to 6.13 mld.EUR and exceeded estimates and set to an average of 5.95 mld.EUR.

Comparable sales in the consumer electronics division in Q3 grew by 3% due to double-digit growth of interest in the division of personal care, health and body care and home appliances division. This growth made up double-digit decline in the consumer electronics division, where there is a large decline in conventional products.The management in this regard, said that he was looking for ways to adjust the portfolio closer to current trends - support facilities for smartphones and tablets and the like. EBITA margin in the whole division was at the level of 8.5%.

Lighting division sales rose by 4%. Revenues based on LED lighting technologies have increased by 51% and high now represent 24% of total sales in the lighting division.

EBITA margin reached 2.2% level. Excluding some one-time items, this indicator grew by 7%.

The management said that in 3Q reduce overall costs by 306 million euros, which allows lift overall savings target to 1.1 mld.EUR.

Philips shares responded to the report of growth of less than Euro to € 19.98 per share. Title to this year made better by 23% and its total market capitalization has risen to 19 mld.EUR.
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