Philips reports second-quarter EBITA of EUR 527 million and sales of EUR 6.2 billion

Philips reports second-quarter EBITA of EUR 527 million and sales of EUR 6.2 billion

July 19, 2010 3:29 by Rasha Reslan

Comparable sales up 12%, led by double-digit growth at Lighting and Consumer Lifestyle

• Emerging markets sales growth accelerates to 29%, now representing over one-third of Group sales

• EBITA of EUR 527 million, or 8.5% of sales

• EBITA, excluding EUR 93 million restructuring and acquisition-related charges, at 10% of sales

• Net income of EUR 262 million

Gerard Kleisterlee, President and CEO of Royal Philips Electronics:

“In Q2, Philips delivered another strong quarter, with good top-line growth and strong profitability in all three operating sectors. Sales performance was especially strong in emerging markets. We are particularly pleased to have reached an adjusted profitability level of 10% in the quarter.

It is encouraging to see that our performance continues to improve, despite ongoing weakness in many global markets and economic uncertainty – a clear testimony to the soundness of our strategy and the strength of our portfolio. I believe we remain well on our way to becoming the leading company in health and well-being and consider this quarter another clear step in the right direction.”

Follow the link for an audio quote from Gerard Kleisterlee on the Second Quarter and Semi-Annual Results 2010: http://www.newscenter.philips.com/main/corpcomms/resources/corporate/press/2010/Q2/Kleisterlee_Q2_audio_English_MP3_192K.mp3