Scrip is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Sales down, but profit up again in Philips' Q3

This article was originally published in Clinica

Executive Summary

Philips Healthcare once again managed to expand its bottom line during a tough third quarter: sales fell 8% to €2.26bn ($3.09bn), but earnings before interest, taxes and amortization grew to €329m, compared with €305m during the same period last year. Foreign exchange rates had a negative impact on revenues, with healthcare sales flat on a constant currency basis. By division, Customer Services saw “mid-single-digit growth,” while Home Healthcare Solutions and Patient Care & Clinical Information both reported “low-single-digit growth,” and Imaging Systems posted a “mid-single-digit decline.” The firm’s cost-cutting efforts are continuing to pay off – Philips says it has reduced its healthcare headcount by 659 versus Q3 2012, mainly due to cuts in North America and Europe. Its Accelerate! program saved the group €183m in Q3, taking the total gross savings to date to €856m. The company’s latest performance echoes similar results in Q2 and Q1 (www.clinica.co.uk, 22 April 2013).

Advertisement

Topics

Advertisement
UsernamePublicRestriction

Register

MT100994

Ask The Analyst

Please Note: Click here for more information on the Ask the Analyst service.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel