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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Philips    PHIA   NL0000009538

ROYAL PHILIPS

(PHIA)
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Royal Philips : 2Q Net Profit Beat Views as Sales Rose

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07/22/2019 | 01:35am EDT

By Adria Calatayud

Koninklijke Philips NV (PHIA.AE) said Monday that second-quarter net profit beat analysts' expectations, as both sales and margins rose thanks to strong performances at its diagnosis and treatment businesses.

The Dutch technology company made a net profit of 243 million euros ($272.6 million) in the second quarter, ahead of analysts' forecasts of a net profit of EUR239 million, according to a consensus compiled by the company.

Net profit from continuing operations rose to EUR260 million from EUR186 million a year before, the company said.

Quarterly sales increased to EUR4.67 billion from EUR4.29 billion in the year-earlier period, Philips said. Analysts expected sales of EUR4.59 billion, according to a company-provided consensus.

Comparable sales rose 6% in the quarter, exceeding analysts' forecasts of a 4.5% increase.

Philips's adjusted earnings before interest, taxes and amortization for the quarter grew 12% at EUR549 million, with a margin of 11.8%, it said. Analysts forecast an adjusted Ebita of EUR542 million at a margin of 11.8% of sales.

The company reiterated its targets for the 2017-2020 period of 4-6% comparable sales growth and an average annual 100 basis points improvement in adjusted Ebita margin.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

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Financials (EUR)
Sales 2019 19 377 M
EBIT 2019 2 538 M
Net income 2019 1 479 M
Debt 2019 3 299 M
Yield 2019 2,09%
P/E ratio 2019 26,4x
P/E ratio 2020 21,6x
EV / Sales2019 2,11x
EV / Sales2020 1,98x
Capitalization 37 508 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 43,44  €
Last Close Price 41,65  €
Spread / Highest target 24,8%
Spread / Average Target 4,29%
Spread / Lowest Target -16,0%
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Managers
NameTitle
Frans van Houten Chief Executive Officer
Jeroen van der Veer Chairman-Supervisory Board
Sophie Bechu Chief Operating Officer & Executive Vice President
Abhijit Bhattacharya Chief Financial Officer & Executive Vice President
Jan Kimpen Chief Medical Officer
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