1/30, 6:55 AM (Source: TeleTrader)
more TeleTrader news

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.

Baha Breaking News (BBN) / NP