PHILPS lighting Q416/2016 earnings report, annual net income over 1 billion 300 million

Yesterday (23), PHILPS lighting (Philips Lighting) released 2016 fourth quarter earnings and full year earnings, annual operating profit margin increased 180 basis points to 9.1%, the annual net income of 185 million euros (about 1 billion 361 million yuan).

The focus of fiscal 2016 sales of EUR 7 billion 115 million, comparable sales decline of 2.4%; continuously improve the business profitability compared to the same period; the adjusted EBITDA (Adjusted EBITA) for 645 million euros in 2015, only 547 million euros; the adjusted EBITDA growth rate of 180 only 7.3% basis points to 9.1% in 2015; the net income amounted to 185 million euros in 2015, up to 240 million euros; the free cash flow amounted to 418 million euros, 632 million euros in 2015.

2016 fourth quarter earnings on the sales of EUR 1 billion 934 million, comparable sales decline of 3.2%; the overall LED sales growth of 16%, accounting for 59% of all sales; continuously improve the business profitability compared to the same period; the adjusted EBITDA (Adjusted EBITA) for the fourth quarter of 2015 only 188 million euros. 159 million euros; the adjusted EBITDA growth rate by 190 basis points to 9.7%, the fourth quarter of 2015 only 7.8%; the net income amounted to 63 million euros; the free cash flow amounted to 272 million euros.

The intends to return to shareholders cash dividends every 10 shares of 1 euros, the dividend payment rate is 52%; the 2017-2018 period will return to shareholders of up to 300 million euros in capital.

"In 2016, although some market challenges, but our business is still in accordance with the strategic objectives, in the first year as an independent company, the profitability and free cash flow increased significantly, we feel very happy. These achievements mark our continued progress in achieving strategic objectives and medium-term financial goals. "Chief executive Eric Rondolat said," our team remains focused on the opportunities of the future, and is committed to meet customer needs through innovation, and take concrete actions to continue to improve our growth trend.

In 2017, is expected to be adjusted EBITDA rate will further enhance 50-100 basis points, in line with the company will be adjusted EBITDA rate gradually increased in mid - to the prospect of 11-13%. In addition, the company will continue to provide a stable free cash flow. Although cautious about global economic uncertainty, the company is committed to achieving a positive growth in comparable sales in 2017. (compile: LEDinside Nicole)

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