Philips has released its second quarter and semi-annual results 2012. According to the company, its second-quarter comparable sales have reached to EUR 5.9 billion, increasing by 5%. Other results as following,
•Growth led by 7% growth at Healthcare and 6% growth at Lighting
• Sales in growth geographies up 11% on a comparable basis, now representing 35% of total revenue
• Reported EBITA of EUR 450 million, or 7.6% of sales
• Net income of EUR 167 million
• Overhead-reduction plan on track; cumulative savings now EUR 176 million
• Distribution agreement signed for Lifestyle Entertainment in North America with Funai
Lighting comparable sales increased by 6%, led by double-digit sales growth at Light Sources & Electronics, as well as high-single-digit sales growth at Automotive. LED-based sales grew by 37% year-on-year and now account for 20% of total Lighting sales. Reported EBITA margin for the quarter was 4.6%.
The company says they have completed 56% of our EUR 2 billion share buy-back program since the start of the program in July 2011.
