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Philips Q4 Profit Rises, Proposes Dividend; Sees Higher Comparable Sales, Adj. Margin In FY21

Dutch consumer electronics giant Philips Electronics NV (PHGFF.PK,PHG) reported Monday that its fourth-quarter net income increased to 607 million euros from last year's 556 million euros. Earnings per share were 0.66 euro, up from 0.60 euro a year ago.

Income from continuing operations increased to 608 million euros from 550 million euros last year.

Adjusted earnings per share were 0.94 euro, compared to 0.83 euro last year. Adjusted EBITA margin improved 110 basis points to 19.0 percent.

The fourth-quarter sales edged up 1 percent to 6 billion euros from 5.96 billion euros last year. Comparable sales growth was 7 percent. Comparable order intake increased 7 percent.

Further, the company proposed dividend of 0.85 euro per share, in cash or shares at the option of the shareholder

Looking ahead, for 2021, Philips plans to deliver low-single-digit comparable sales growth, driven by solid growth in Diagnosis & Treatment and Personal Health, partly offset by lower Connected Care sales. The company also projects an adjusted EBITA margin improvement of 60-80 basis points.

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