Dutch consumer electronics giant Koninklijke Philips N.V. (PHGFF.PK,PHG) reported Monday that its second-quarter net income surged to 452 million euros from last year's 74 million euros.
Earnings per share were 0.48 euro, up from 0.07 euro a year ago. Income from continuing operations per share was 0.33 euro in the latest quarter.
Adjusted income from continuing operations was 0.30 euro, compared to 0.27 euro a year ago.
Adjusted EBITA margin for the group increased to 11.1 percent from 10.1 percent last year, with improvement across all businesses.
Group sales amounted to 4.462 billion euros, compared to last year's 4.470 billion euros. Comparable sales growth was 2 percent, and comparable order intake increased 9 percent.
Looking ahead for fiscal 2024, Philips continues to expect 3 percent to 5 percent comparable sales growth, an Adjusted EBITA margin of 11 percent to 11.5 percent, and free cash flow of 0.9 billion euros to 1.1 billion euros.
The company further reiterated its confidence in delivering the 2025 plan, acknowledging that uncertainties remain.
The outlook excludes the potential impact of the ongoing Philips Respironics-related legal proceedings, including the investigation by the US Department of Justice.
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