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5/22/2012 3:08 AM ET

Dutch consumer electronics giant Royal Philips Electronics (PHG: Quote,PHGFF.PK) still expects to achieve mid-term 2013 financial targets of 4% - 6% sales growth, 10% - 12% reported EBITA, and 12% - 14% ROIC.

The company said the organization structure in Lighting was streamlined: from 6 to 5 business Groups, with the regional structure simplified, end2end value chain re-established, as well as a significant cost reduction; whereas the performance management was re-established.

Meanwhile, operational issues in Consumer Luminaires were addressed and performance improvement is expected in the second half of 2012.

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by RTT Staff Writer

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