• Net income of EUR 524 million, including a gain of EUR 154 million on the sale of NXP shares
• EBITA of EUR 648 million, or 10.5% of sales, up from 6.1% last year
• Sales up 10% nominally and 1% comparably year-on-year
• Emerging markets sales up 19% nominally and 7% comparably year-on-year
• Healthcare order intake growth of 7%, including 20% growth in emerging markets
• Growth at Lighting and Healthcare tempered by Consumer Lifestyle
Gerard Kleisterlee, President and CEO of Royal Philips Electronics:
“The third quarter was another solid quarter for Philips, resulting in net income of EUR 524 million and adjusted EBITA of 10.6%. This has led to an adjusted EBITA in the first nine months of 2010 of 10.1%, exceeding our target for the year and putting us in an excellent position to deliver on one of the main targets of our Vision 2010 strategic plan.
In a still fragile economic environment, with weak consumer markets in the developed economies, we posted sales growth of 10% nominal and 1% on a comparable basis.
Looking at the performance of our three sectors, both Healthcare and Lighting delivered a good quarter in terms of profitability as well as growth. Consumer Lifestyle improved profitability despite weak demand in some of its markets, with strong sales at Health & Wellness, Personal Care and Domestic Appliances weighed down by lower sales in the rest of the sector.
We also continued on our growth path in emerging markets, with 19% nominal and 7% comparable sales growth. This means that we now generate more than one-third of our sales in these markets.
Our continued progress in the third quarter confirmed that we are on the right track to become a leading company in health and well-being as outlined in our strategic plan, Vision 2015.”
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Conference call and audio webcast
A conference call with Pierre-Jean Sivignon, CFO, to discuss the results, will start at 10:00AM CET. A live audio webcast of the conference call will be available through the link below.
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