PHILPS lighting Q3 net income of 110 million euros, an increase of 114.8%

The day before, PHILPS lighting disclosed in 2017 third quarter, 3Q17 company achieved sales of 1 billion 684 million euros (about 13 billion 131 million RMB), down 3.5%; net income growth of 114.8% over the previous year to 110 million euros (about 858 million RMB). The first three quarters of the company total sales amounted to 5 billion 73 million euros (about 39 billion 565 million RMB), down 2.1%; the first three quarters of the cumulative net income of 244 million euros (about 1 billion 902 million RMB), an increase of 99.7%.

PHILPS lighting CEO Eric Rondolat said: "in line with the company's expected performance in the third quarter, comparable sales growth. In addition, LED and intelligent lighting system / service growth hiking to offset the decline in traditional business. At the same time, we continue to improve profitability."

2017 third quarter earnings on

The sales amounted to 1 billion 684 million euros, comparable sales growth of 1.3%;

The overall LED sales growth of 22%, accounting for 68% of total sales, and the third quarter of 2016 accounted for 56%;

The adjusted EBITDA (Adjusted EBITA) for 176 million euros, and 175 million euros for the third quarter of 2016;

The profit rate of the adjusted EBITDA (Adjusted EBITA margin) was 10.5%, and the third quarter of 2016 was 10%;

The net income amounted to 110 million euros, while the third quarter of 2016 to 51 million euros;

The free cash flow of -500 million euros, the third quarter of 2016 amounted to 164 million euros.

According to the results, the third quarter of 2017, PHILPS Lamps lighting to achieve sales of 423 million euros, LED sales of 416 million euros, professional products business sales of 685 million euros and 158 million euros Home Furnishing product sales.

PHILPS lighting said third quarter comparable sales up is an important step to increase the performance of the company. Companies strive to 2017 full year adjusted EBITDA rate increased by 50-100 basis points, not including the second quarter of 15 million euros in real estate income. In addition, due to significantly reduce inventory, is expected in the fourth quarter of the free cash flow is abundant. (compiled: LEDinside Nicole)

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