Philips Elect...+0.76%
Philips sales rise 10% to €5.4B in Q4
Dutch electronics company Philips N.V. said on Monday its sales in the fourth quarter of 2022 amounted to €5.4 billion, climbing 10% compared to the same period a year earlier. Comparable sales growth stood at 3% in the three-month period.
Net loss hit €105 million, or €0.13 per share, plunging from a net income of €151 million reported in the corresponding quarter of 2021. Meanwhile, adjusted earnings before interest, taxes, and amortization (EBITA) stood at €651 million, up from €647 million achieved in the fourth quarter of the previous year. Loss from continuing operations was €113 million. Adjusted earnings per share stood at €0.41.
In full fiscal 2022, Philips' sales were up 4% to €17.8 billion, while EBITA plummeted 78% to €192 million. "2022 has been a very difficult year for Philips and our stakeholders, and we are taking firm actions to improve our execution and step up performance with urgency," CEO Roy Jakobs stated.