SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
April 23, 2018
KONINKLIJKE PHILIPS N.V.
(Exact name of registrant as specified in its charter)
Royal Philips
(Translation of registrants name into English)
The Netherlands
(Jurisdiction of incorporation or organization)
Breitner Center, Amstelplein 2, 1096 BC Amsterdam, The Netherlands
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): ☐
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
Name and address of person authorized to receive notices
and communications from the Securities and Exchange Commission:
M.J. van Ginneken
Koninklijke Philips N.V.
Amstelplein 2
1096 BC Amsterdam The Netherlands
This report comprises a copy of the following report:
Philips First Quarter Results 2018, dated April 23, 2018.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf, by the undersigned, thereunto duly authorized at Amsterdam, on the 23rd day of April, 2018.
KONINKLIJKE PHILIPS N.V.
/s/ M.J. van Ginneken
(Chief Legal Officer)
Philips reports Q1 sales of EUR 3.9 billion, with 5% comparable sales growth; net income from continuing operations of EUR 94 million, and Adjusted EBITA margin increased 130 basis points to 8.7%
Amsterdam, April 23, 2018
First-quarter highlights
| Sales in the quarter were EUR 3.9 billion, with comparable sales growth of 5% |
| Comparable order intake increased 10% compared to Q1 2017 |
| Net income from continuing operations was EUR 94 million, which includes higher restructuring and acquisition-related charges and bond redemption costs of EUR 52 million, compared to EUR 128 million in Q1 2017 |
| Adjusted EBITA margin improved by 130 basis points to 8.7% of sales, compared to 7.4% of sales in Q1 2017 |
| Operating cash inflow totaled EUR 92 million |
Frans van Houten, CEO:
While there is more work to be done, 2018 started well, with 10% comparable order intake growth, 5% comparable sales growth and a 130 basis point improvement in operational profitability. Good traction of new products and solutions introduced last year contributed to 9% comparable sales growth in the Diagnosis & Treatment businesses. Across our markets, we continue to see strong customer interest in our innovations, as demonstrated by the mid-teens order intake growth in the Diagnosis & Treatment businesses. In the quarter, we continued to make good progress with our productivity programs and took action to further reduce our interest expenses.
We strengthened our position as a health technology leader with our innovative, integrated solutions as our strategy in Image- Guided Therapy is delivering results, evidenced by the robust order growth of the new Azurion platform and the continued strong growth in the device business, built on the Volcano and Spectranetics acquisitions. Furthermore, we signed 8 long-term strategic partnership agreements across the US, Europe and the Middle East. For example, in the UK, Philips signed an 11-year agreement with Wye Valley NHS Trust to transform radiology services across its sites. Philips will deliver its latest diagnostic imaging systems and advanced informatics, while also providing on-site collaboration and staff training to meet the agreed goals. Additionally in the Netherlands, Philips signed a 15-year partnership with ZorgSaam Hospital, comprising imaging and image-guided therapy systems, healthcare informatics and a range of services to advance the diagnosis and treatment of patients.
Looking ahead, we reiterate our targets for the 20172020 period of 4-6% comparable sales growth and an average annual 100 basis points improvement in Adjusted EBITA margin.
Business segments
In the first quarter, all business segments continued to deliver operational improvements and increased profitability.
In the Diagnosis & Treatment businesses, comparable order intake grew by 15%, driven by double-digit growth across all businesses. Comparable sales increased by 9%, with strong growth in Diagnostic Imaging, Ultrasound and Image-Guided Therapy. The Adjusted EBITA margin was 140 basis points higher than in the same period last year, mainly due to growth and improved mix.
In the Personal Health businesses, comparable sales growth was 4%, reflecting high-single-digit growth in Sleep & Respiratory Care and mid-single-digit growth in Personal Care. Lower demand in the Air purification market in China impacted the comparable sales growth of the Personal Health businesses by 150 basis points. Overall, the Adjusted EBITA margin increased by 30 basis points.
In the Connected Care & Health Informatics businesses, comparable order intake increased by 1%. Comparable sales growth was flat year-on-year and included double-digit growth in Healthcare Informatics. The Adjusted EBITA margin improved by 180 basis points, mainly due to operational improvements.
Philips ongoing focus on innovation resulted in the following highlights in the quarter:
| As part of Philips new introductions to drive growth in Diagnostic Imaging, the company launched the Ingenia Elition, a new 3.0T MRI solution which offers superb image quality while performing exams up to 50% faster. In the US, Philips received FDA 510(k) clearance to market ProxiDiagnost N90, its latest digital X-ray system designed for low dose, high image quality and fast workflows. |
| The expansion of the Ultrasound business beyond its core strength in cardiac ultrasound into attractive adjacencies continues to be successful. For example, the new OB/GYN ultrasound innovations that Philips introduced in 2017 for its EPIQ and Affiniti ultrasound systems drove the strong double-digit growth in comparable order intake for the business in the quarter. |
| Leveraging its expertise in cardiology, Philips provided the University of Ottawa Heart Institute, the largest heart center in Canada, with image-guided therapy and patient monitoring solutions. Also in Canada, Philips provided image-guided therapy solutions to Royal Victoria Regional Health Centre. |
| Philips Image-Guided Therapy Devices continued its strong momentum, supported by a growing amount of clinical data. The recent results of the DEFINE FLAIR trial demonstrated that an iFR-guided strategy reduces costs, improves patient comfort compared to an FFR-guided strategy, and delivers consistent patient outcomes. |
| To expand its leadership in patient monitoring solutions, Philips launched FocusPoint, a web-based operational performance management application for its patient monitoring solutions. The application aggregates, processes and stores statistical and alert information, which are presented on a dashboard for optimal management of the technology. |
| Highlighting Philips leadership in Healthcare Informatics, IntelliSpace Portal, Philips advanced data integration, visualization and analysis platform, has been named 2018 Category Leader in the Advanced Visualization category in the 2018 Best in KLAS: Software & Services report. |
| In line with Philips focus on innovations, the company launched the new Philips Sonicare ProtectiveClean power toothbrush in North America, with further roll-out planned in the coming quarters. Furthermore, Philips introduced the Philips OneBlade Face + Body, its latest innovation in male grooming technology, in the US, UK, France and Canada. |
| Building on the success of Philips integrated Dream Family, the company introduced the DreamWear Full Face mask, the third option available for its award-winning DreamWear mask system. Helping drive clinical education in its growth geographies, Philips opened South-East Asias first Sleep and Respiratory Education Center in Singapore to train healthcare professionals from across the region to better diagnose and treat sleep and respiratory disorders. |
Cost savings
In the first quarter, procurement savings amounted to EUR 50 million. Overhead and other productivity programs resulted in savings of EUR 51 million. Philips continues to target annual savings of EUR 400 million in 2018.
Capital structure
In the first quarter Philips completed a further EUR 350 million of the EUR 1.5 billion share buyback program, which was initiated in the third quarter of 2017 for capital reduction purposes. Details about the transactions can be found here.
As part of the plan to reduce interest expenses and extend maturities, on March 27, 2018, Philips started the redemption of the outstanding 3.750% Notes due 2022 with an aggregate principal amount of USD 1.0 billion. The transaction will be completed on April 26, 2018 and resulted in a charge in the first quarter of 2018 of EUR 29 million, reflected in the Financial income and expenses line on the income statement. The resulting cash outflow on this transaction is expected to be approximately EUR 840 million, excluding accrued interest, in the second quarter of 2018.
Regulatory update
Philips continues to make progress in line with the terms of the consent decree, which is primarily focused on the defibrillator manufacturing in the US; this included inspections by independent auditors and resumption of shipments of its FRx and FR3 AEDs to markets outside of the US.
![]() |
Quarterly report Q1 2018 2 |
Conference call and audio webcast
Frans van Houten, CEO, and Abhijit Bhattacharya, CFO, will host a conference call for investors and analysts at 10:00 am CET today to discuss the results. A live audio webcast of the conference call will be available on the Philips Investor Relations website and can be accessed here.
* | Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information, of this document. |
4 Quarterly report Q1 2018 |
![]() |
Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information, of this document.
![]() |
Quarterly report Q1 2018 5 |
* | Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information, of this document. |
6 Quarterly report Q1 2018 |
![]() |
1 | Effective 2018, Patient Care & Monitoring Solutions transitioned into two focused business groups - Monitoring & Analytics and Therapeutic Care. |
2 | Other comprises HealthTech Other and Legacy Items. |
* | Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information, of this document. |
![]() |
Quarterly report Q1 2018 7 |
Forward-looking statements and other important information
8 Quarterly report Q1 2018 |
![]() |
Condensed consolidated statements of income
Condensed consolidated statements of income in millions of EUR unless otherwise stated
Q1 | ||||||||
2017 | 2018 | |||||||
Sales |
4,035 | 3,942 | ||||||
Cost of sales |
(2,258 | ) | (2,156 | ) | ||||
|
|
|||||||
Gross margin |
1,777 | 1,785 | ||||||
Selling expenses |
(1,024 | ) | (1,041 | ) | ||||
General and administrative expenses |
(151 | ) | (130 | ) | ||||
Research and development expenses |
(431 | ) | (433 | ) | ||||
Other business income |
74 | 27 | ||||||
Other business expenses |
(3 | ) | (7 | ) | ||||
|
|
|||||||
Income from operations |
243 | 201 | ||||||
Financial income |
23 | 13 | ||||||
Financial expenses |
(73 | ) | (93 | ) | ||||
Investments in associates, net of income taxes |
(2 | ) | | |||||
|
|
|||||||
Income before taxes |
191 | 122 | ||||||
Income taxes expense |
(63 | ) | (28 | ) | ||||
|
|
|||||||
Income from continuing operations |
128 | 94 | ||||||
Discontinued operations, net of income taxes |
131 | 30 | ||||||
|
|
|||||||
Net income |
259 | 124 | ||||||
Attribution of net income |
||||||||
Net income attributable to Koninklijke Philips N.V. shareholders |
232 | 125 | ||||||
Net income attributable to Non-controlling interests |
27 | (1 | ) | |||||
Earnings per common share |
||||||||
Weighted average number of common shares outstanding (after deduction of treasury shares) during the period (in thousands): |
||||||||
- basic |
921,917 | 921,790 | ||||||
- diluted |
937,102 | 939,822 | ||||||
Net income attributable to Koninklijke Philips N.V. shareholders: |
||||||||
- basic |
0.25 | 0.14 | ||||||
- diluted |
||||||||
0.25 | 0.13 | |||||||
|
|
Amounts may not add up due to rounding.
![]() |
Quarterly report Q1 2018 9 |
Reconciliation of non-IFRS information
Certain non-IFRS financial measures are presented when discussing the Philips Groups performance:
| Comparable sales growth |
| EBITA |
| Adjusted EBITA |
| Adjusted EBITDA |
| Free cash flow |
| Comparable order intake |
| Composition of net debt to group equity |
EBITA is defined as Income from operations excluding amortization and impairment of acquired intangible assets and goodwill. Acquired intangible assets includes brand names, customer relationships, technology and other intangible assets.
For the definitions of the remaining non-IFRS financial measures listed above, refer to chapter 5, Reconciliation of non-IFRS information, of the Annual Report 2017.
Sales growth composition in %
Q1 2018 | ||||||||||||||||
nominal growth | consolidation changes | currency effects | comparable growth | |||||||||||||
2018 versus 2017 |
||||||||||||||||
Personal Health |
(4.6 | )% | 0.0 | % | 8.3 | % | 3.7 | % | ||||||||
Diagnosis & Treatment |
2.6 | % | (3.8 | )% | 9.9 | % | 8.7 | % | ||||||||
Connected Care & Health |
||||||||||||||||
Informatics |
(9.4 | )% | (0.6 | )% | 10.5 | % | 0.5 | % | ||||||||
Other1) |
18.5 | % | (11.5 | )% | (0.1 | )% | 6.9 | % | ||||||||
|
|
|||||||||||||||
Philips Group |
(2.3 | )% | (1.8 | )% | 9.2 | % | 5.1 | % | ||||||||
|
|
1) | Other comprises HealthTech Other and Legacy Items. |
Reconciliation of Net income to Adjusted EBITA In millions of EUR unless otherwise stated
Philips Group | Personal Health | Diagnosis & Treatment |
Connected Care & Health Informatics |
Other1) | ||||||||||||||||
Q1 2018 |
||||||||||||||||||||
Net income |
124 | |||||||||||||||||||
Discontinued operations, net of income taxes |
(30 | ) | ||||||||||||||||||
Income tax expense |
28 | |||||||||||||||||||
Investments in associates, net of income taxes |
| |||||||||||||||||||
Financial expenses |
93 | |||||||||||||||||||
Financial income |
(13 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
Income from operations |
201 | 225 | 27 | 1 | (52 | ) | ||||||||||||||
Amortization of acquired intangible assets |
62 | 32 | 16 | 11 | 3 | |||||||||||||||
|
|
|||||||||||||||||||
EBITA |
263 | 257 | 43 | 12 | (50 | ) | ||||||||||||||
Restructuring and acquisition-related charges |
64 | 3 | 42 | 6 | 13 | |||||||||||||||
Other items |
18 | 17 | 1 | |||||||||||||||||
|
|
|||||||||||||||||||
Adjusted EBITA |
344 | 260 | 85 | 36 | (37 | ) | ||||||||||||||
Q1 2017 |
||||||||||||||||||||
Net income |
259 | |||||||||||||||||||
Discontinued operations, net of income taxes |
(131 | ) | ||||||||||||||||||
Income tax expense |
63 | |||||||||||||||||||
Investments in associates, net of income taxes |
2 | |||||||||||||||||||
Financial expenses |
73 | |||||||||||||||||||
Financial income |
(23 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income from operations |
243 | 231 | 43 | (12 | ) | (18 | ) | |||||||||||||
Amortization of acquired intangible assets |
62 | 35 | 9 | 12 | 6 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
EBITA |
304 | 266 | 52 | 0 | (13 | ) | ||||||||||||||
Restructuring and acquisition-related charges |
24 | 2 | 11 | 8 | 3 | |||||||||||||||
Other items |
(31 | ) | 17 | (48 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Adjusted EBITA |
298 | 268 | 63 | 26 | (58 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
1) | Other comprises HealthTech Other and Legacy Items. |
10 Quarterly report Q1 2018 |
![]() |
Net income to Adjusted EBITDA In millions of EUR unless otherwise stated
Philips Group | Personal Health | Diagnosis & Treatment |
Connected Care & Health Informatics |
Other1) | ||||||||||||||||
Q1 2018 |
||||||||||||||||||||
Net income |
124 | |||||||||||||||||||
Discontinued operations, net of income taxes |
(30 | ) | ||||||||||||||||||
Income tax expense |
28 | |||||||||||||||||||
Investment in associates, net of income taxes |
| |||||||||||||||||||
Financial expenses |
93 | |||||||||||||||||||
Financial income |
(13 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
Income from operations |
201 | 225 | 27 | 1 | (52 | ) | ||||||||||||||
Depreciation, amortization and impairments of fixed assets |
231 | 90 | 63 | 40 | 39 | |||||||||||||||
Restructuring and acquisition-related charges |
64 | 3 | 42 | 6 | 13 | |||||||||||||||
Other items |
18 | 17 | 1 | |||||||||||||||||
Adding back impairment of fixed assets included in restructuring and acquisition-related charges and other items |
(2 | ) | (1 | ) | | |||||||||||||||
|
|
|||||||||||||||||||
Adjusted EBITDA |
512 | 317 | 131 | 64 | | |||||||||||||||
|
|
1) | Other comprises HealthTech Other and Legacy Items |
Net income to Adjusted EBITDA In millions of EUR unless otherwise stated
Philips Group | Personal Health | Diagnosis & Treatment |
Connected Care & Health Informatics |
Other1) | ||||||||||||||||
Q1 2017 |
||||||||||||||||||||
Net income |
259 | |||||||||||||||||||
Discontinued operations, net of income taxes |
(131 | ) | ||||||||||||||||||
Income tax expense |
63 | |||||||||||||||||||
Investment in associates, net of income taxes |
2 | |||||||||||||||||||
Financial expenses |
73 | |||||||||||||||||||
Financial income |
(23 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Income from operations |
243 | 231 | 43 | (12 | ) | (18 | ) | |||||||||||||
Depreciation, amortization and impairments of fixed assets |
228 | 92 | 53 | 45 | 38 | |||||||||||||||
Restructuring and acquisition-related charges |
24 | 2 | 11 | 8 | 3 | |||||||||||||||
Other items |
(31 | ) | 17 | (48 | ) | |||||||||||||||
Adding back of impairment of fixed assets included in restructuring and acquisition-related charges and other items |
(2 | ) | (1 | ) | (1 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Adjusted EBITDA |
463 | 325 | 106 | 57 | (26 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
1) | Other comprises HealthTech Other and Legacy Items. |
Composition of free cash flow in millions of EUR
January to March | ||||||||
2017 | 2018 | |||||||
Net cash provided by operating activities |
300 | 92 | ||||||
Net capital expenditures: |
(46 | ) | (139 | ) | ||||
Purchase of intangible assets |
(19 | ) | (21 | ) | ||||
Expenditures on development assets |
(76 | ) | (67 | ) | ||||
Capital expenditures on property, plant and equipment |
(80 | ) | (81 | ) | ||||
Proceeds from sale of property, plant and equipment |
129 | 31 | ||||||
|
|
|
|
|||||
Free cash flows |
254 | (47 | ) | |||||
|
|
|
|
![]() |
Quarterly report Q1 2018 11 |
Philips statistics
in millions of EUR unless otherwise stated
2017 |
2018 | |||||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |||||||||||||||||||||||||
Sales |
4,035 | 4,294 | 4,148 | 5,303 | 3,942 | |||||||||||||||||||||||||||
Comparable sales growth* |
3 | % | 4 | % | 4 | % | 5 | % | 5 | % | ||||||||||||||||||||||
Gross margin |
1,777 | 1,925 | 1,916 | 2,563 | 1,785 | |||||||||||||||||||||||||||
as a % of sales |
44.0 | % | 44.8 | % | 46.2 | % | 48.3 | % | 45.3 | % | ||||||||||||||||||||||
Selling expenses |
(1,024 | ) | (1,091 | ) | (1,046 | ) | (1,236 | ) | (1,041 | ) | ||||||||||||||||||||||
as a % of sales |
(25.4 | )% | (25.4 | )% | (25.2 | )% | (23.3 | )% | (26.4 | )% | ||||||||||||||||||||||
G&A expenses |
(151 | ) | (146 | ) | (134 | ) | (146 | ) | (130 | ) | ||||||||||||||||||||||
as a % of sales |
(3.7 | )% | (3.4 | )% | (3.2 | )% | (2.8 | )% | (3.3 | )% | ||||||||||||||||||||||
R&D expenses |
(431 | ) | (421 | ) | (451 | ) | (461 | ) | (433 | ) | ||||||||||||||||||||||
as a % of sales |
(10.7 | )% | (9.8 | )% | (10.9 | )% | (8.7 | )% | (11.0 | )% | ||||||||||||||||||||||
Income from operations |
243 | 252 | 299 | 723 | 201 | |||||||||||||||||||||||||||
as a % of sales |
6.0 | % | 5.9 | % | 7.2 | % | 13.6 | % | 5.1 | % | ||||||||||||||||||||||
Net income |
259 | 289 | 423 | 899 | 124 | |||||||||||||||||||||||||||
Net income - shareholders per common share in EUR - diluted |
0.25 | 0.27 | 0.33 | 0.91 | 0.13 | |||||||||||||||||||||||||||
EBITA* |
304 | 329 | 364 | 790 | 263 | |||||||||||||||||||||||||||
as a % of sales |
7.5 | % | 7.7 | % | 8.8 | % | 14.9 | % | 6.7 | % | ||||||||||||||||||||||
Adjusted EBITA* |
298 | 439 | 532 | 884 | 344 | |||||||||||||||||||||||||||
as a % of sales |
7.4 | % | 10.2 | % | 12.8 | % | 16.7 | % | 8.7 | % | ||||||||||||||||||||||
Adjusted EBITDA* |
463 | 611 | 686 | 1,072 | 512 | |||||||||||||||||||||||||||
as a % of sales |
11.5 | % | 14.2 | % | 16.5 | % | 20.2 | % | 13.0 | % | ||||||||||||||||||||||
2017 |
2018 | |||||||||||||||||||||||||||||||
January- March |
January- June |
January- September |
January- December |
January- March |
January- June |
January- September |
January- December |
|||||||||||||||||||||||||
Sales |
4,035 | 8,329 | 12,477 | 17,780 | 3,942 | |||||||||||||||||||||||||||
Comparable sales growth* |
3 | % | 3 | % | 4 | % | 4 | % | 5 | % | ||||||||||||||||||||||
Gross margin |
1,777 | 3,703 | 5,618 | 8,181 | 1,785 | |||||||||||||||||||||||||||
as a % of sales |
44.0 | % | 44.5 | % | 45.0 | % | 46.0 | % | 45.3 | % | ||||||||||||||||||||||
Selling expenses |
(1,024 | ) | (2,115 | ) | (3,162 | ) | (4,398 | ) | (1,041 | ) | ||||||||||||||||||||||
as a % of sales |
(25.4 | )% | (25.4 | )% | (25.3 | )% | (24.7 | )% | (26.4 | )% | ||||||||||||||||||||||
G&A expenses |
(151 | ) | (297 | ) | (431 | ) | (577 | ) | (130 | ) | ||||||||||||||||||||||
as a % of sales |
(3.7 | )% | (3.6 | )% | (3.5 | )% | (3.2 | )% | (3.3 | )% | ||||||||||||||||||||||
R&D expenses |
(431 | ) | (852 | ) | (1,303 | ) | (1,764 | ) | (433 | ) | ||||||||||||||||||||||
as a % sales |
(10.7 | )% | (10.2 | )% | (10.4 | )% | (9.9 | )% | (11.0 | )% | ||||||||||||||||||||||
Income from operations |
243 | 495 | 794 | 1,517 | 201 | |||||||||||||||||||||||||||
as a % of sales |
6.0 | % | 5.9 | % | 6.4 | % | 8.5 | % | 5.1 | % | ||||||||||||||||||||||
Net income |
259 | 548 | 971 | 1,870 | 124 | |||||||||||||||||||||||||||
Net income - shareholders per common share in EUR - diluted |
0.25 | 0.51 | 0.85 | 1.75 | 0.13 | |||||||||||||||||||||||||||
EBITA* |
304 | 634 | 997 | 1,787 | 263 | |||||||||||||||||||||||||||
as a % of sales |
7.5 | % | 7.6 | % | 8.0 | % | 10.1 | % | 6.7 | % | ||||||||||||||||||||||
Adjusted EBITA* |
298 | 737 | 1,269 | 2,153 | 344 | |||||||||||||||||||||||||||
as a % of sales |
7.4 | % | 8.8 | % | 10.2 | % | 12.1 | % | 8.7 | % | ||||||||||||||||||||||
Adjusted EBITDA* |
463 | 1,074 | 1,759 | 2,832 | 512 | |||||||||||||||||||||||||||
as a % of sales |
11.5 | % | 12.9 | % | 14.1 | % | 15.9 | % | 13.0 | % | ||||||||||||||||||||||
Number of common shares outstanding (after deduction of treasury shares) at the end of period (in thousands) |
920,276 | 937,045 | 936,861 | 926,192 | 914,826 | |||||||||||||||||||||||||||
Shareholders equity per common share in EUR |
13.74 | 13.01 | 12.12 | 12.96 | 12.66 | |||||||||||||||||||||||||||
Net debt : group equity ratio* |
16:84 | 5:95 | 23:77 | 19:81 | 19:81 | |||||||||||||||||||||||||||
Total employees of continuing operations1) |
70,430 | 71,477 | 73,324 | 73,951 | 73,845 |
1) | Includes third-party workers. |
* | Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information, of this document. |
12 Quarterly report Q1 2018 |
![]() |
http://www.philips.com/investorrelations © 2018 Koninklijke Philips N.V. All rights reserved. |
D!
M\@'Z @,"# (4 AT")@(O C@"00)+ E0"70)G G$">@*$ HX"F *B JP"M@+!
M LL"U0+@ NL"]0, PL#%@,A RT#. -# T\#6@-F W(#?@.* Y8#H@.N [H#
MQP/3 ^ #[ /Y! 8$$P0@!"T$.P1(!%4$8P1Q!'X$C 2:!*@$M@3$!-,$X03P
M!/X%#044%]@8&!A8&)P8W!D@&
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M',P<]1T>'4<=:AZ4'KX>Z1\3'SX?:1^4'[\?ZB 5($$@
M;""8(,0@\"$<(4@A=2&A( &YXS'DJ>8EYYWI&
M>J5[!'MC>\)\(7R!?.%]07VA?@%^8G["?R-_A'_E@$> J($*@6N!S8(P@I*"
M](-7@[J$'82 A..%1X6KA@Z&
D!
M\@'Z @,"# (4 AT")@(O C@"00)+ E0"70)G G$">@*$ HX"F *B JP"M@+!
M LL"U0+@ NL"]0, PL#%@,A RT#. -# T\#6@-F W(#?@.* Y8#H@.N [H#
MQP/3 ^ #[ /Y! 8$$P0@!"T$.P1(!%4$8P1Q!'X$C 2:!*@$M@3$!-,$X03P
M!/X%#044%]@8&!A8&)P8W!D@&
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M',P<]1T>'4<=:AZ4'KX>Z1\3'SX?:1^4'[\?ZB 5($$@
M;""8(,0@\"$<(4@A=2&A( &YXS'DJ>8EYYWI&
M>J5[!'MC>\)\(7R!?.%]07VA?@%^8G["?R-_A'_E@$> J($*@6N!S8(P@I*"
M](-7@[J$'82 A..%1X6KA@Z&
D!
M\@'Z @,"# (4 AT")@(O C@"00)+ E0"70)G G$">@*$ HX"F *B JP"M@+!
M LL"U0+@ NL"]0, PL#%@,A RT#. -# T\#6@-F W(#?@.* Y8#H@.N [H#
MQP/3 ^ #[ /Y! 8$$P0@!"T$.P1(!%4$8P1Q!'X$C 2:!*@$M@3$!-,$X03P
M!/X%#044%]@8&!A8&)P8W!D@&
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M',P<]1T>'4<=:AZ4'KX>Z1\3'SX?:1^4'[\?ZB 5($$@
M;""8(,0@\"$<(4@A=2&A( &YXS'DJ>8EYYWI&
M>J5[!'MC>\)\(7R!?.%]07VA?@%^8G["?R-_A'_E@$> J($*@6N!S8(P@I*"
M](-7@[J$'82 A..%1X6KA@Z&)/^PY8?\ H35^;6A:)J7B;7-.\-Z/#YM_JUW#8VJ?WI97
M"+GVR1GVK[#PSE&&0N4G9*