PHILPS lighting sales in the first half reached 26 billion 700 million, Q2 net profit of 576 million

Yesterday (21) day, PHILPS lighting disclosed in 2017 second quarter, 2Q17 company achieved sales of 1 billion 699 million euros (about 13 billion 403 million RMB), net income growth of 28.1% over the previous year to 73 million euros (about 576 million RMB).

In the market region, European growth is strong, and the American market continues to be weak. The Middle East, Turkey, and Saudi Arabia in particular, remain challenging. From the product perspective, the second quarter of 2017, PHILPS Lamps lighting to achieve sales of 458 million euros, LED sales of 426 million euros, professional products business sales of 668 million euros and 146 million euros Home Furnishing product sales.

Highlights of the second quarter of 2017

The sales amounted to 1 billion 699 million euros, comparable sales fell 1.8%;

The overall LED sales growth of 14%, accounting for 63% of total sales, and the second quarter of 2016 accounted for 53%;

The adjusted EBITDA (Adjusted EBITA) for 174 million euros, and 161 million euros for the second quarter of 2016;

The profit rate of the adjusted EBITDA (Adjusted EBITA margin) was 10.2%, and the second quarter of 2016 was 9.3%;

The net income amounted to 73 million euros, while the second quarter of 2016 to 57 million euros;

The free cash flow of -2700 million euros, the second quarter of 2016 amounted to 60 million euros.

PHILPS lighting core profit growth ideal in the second quarter, due to LED lamp and home lighting business profit growth, offset the decline in revenue from traditional lighting business continued to decline. In addition, according to the results, the first half of 2017 sales amounted to 3 billion 389 million euros (about 26 billion 732 million RMB), of which Lamps sales amounted to 955 million euros, LED sales of 848 million euros, professional products business sales of 1 billion 289 million euros and Home Furnishing product sales amounted to 294 million euros.

Highlights of the first half of 2017

The sales amounted to 3 billion 389 million euros, comparable sales fell 1.3%;

The overall LED sales growth of 17%, accounting for 62% of total sales, while the first half of 2016 accounted for 52%;

The adjusted EBITDA (Adjusted EBITA) for 317 million euros, and 282 million euros for the first half of 2016;

The profit rate of the adjusted EBITDA (Adjusted EBITA margin) was 9.4%, while the first half of 2016 8.2%;

The net income amounted to 134 million euros, while the first half of 2016 to 71 million euros;

The free cash flow of -2600 million euros in the first half of 2016 was -1800 million euros.

(compile: LEDinside, Nicole)

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