PHILPS lighting Q3 profit improvement revenue of NT $60 billion

Light bulb and lighting system vendors PHILPS lighting (Philips Lighting) on Thursday announced the third quarter core profit growth of 26%, the European and Middle Eastern revenue soft.

PHILPS reported earnings in the third quarter core profit growth of 26%, Europe and the Middle East revenue softening. (photo: PHILPS lighting)

2016 focus on the third quarter earnings

Comparable sales decline of 3.3%, to $174 million 500 thousand (NT $60 billion 200 million)

Overall LED sales growth of 16%, accounting for all business sales of 56%

Year on year growth performance is as follows:

Adjusted before interest, taxes, depreciation and amortization (EBITDA) amounted to 175 million euros (NT $6 billion), only Euro 2015 in the third quarter. Adjusted before interest, taxes, depreciation and amortization (EBITDA) profit was 10%, while in 2015 only up to 7.5%.

By LED lighting business growth has not been sufficient to offset the impact of shrinking the traditional light bulb market, PHILPS lighting is no longer expected this year's revenue growth potential.

Net income of 51 million euros (NT $1 billion 750 million), of which $30 million (NT $1 billion 30 million) for brand licensing, split use and other income is not attributable to 2015

Benefit from profitability and improve capital management, free cash flow of 164 million euros, compared with the same cash flow in 2015 was $800 billion.

PHILPS lighting this week announced 2016 third quarter earnings. Overall LED business sales growth of 16%, accounting for the company's total revenue of $56%. At the same time, the system and the service industry also hand over 10% growth, so that the company can continue to work things (IoT) lighting market.

Reported that after the elimination of the impact of the income of the exchange rate, the recession 3.3% to $1 billion 750 million. PHILPS lighting CEO Eric Rondolat said it will continue to do business improvement, and the introduction of innovative products to strengthen revenue momentum.

PHILPS lighting in a statement pointed out that the Middle East, Turkey and some European countries the status of the weak demand may be extended to the fourth quarter of this year, revenue growth target of renunciation, expected next year will have the opportunity to return to growth.

PHILPS lighting at this time last year or one of the Royal PHILPS group. After the spin off of the lighting business, Royal PHILPS still holds 71% stake in PHILPS lighting.

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