Royal Philips profit rises, share buybacks startsStaff Writer | July 24, 2017
Royal Philips reports Q2 sales of EUR 4.3 billion, with 4% comparable sales growth.
Royal Philips Operating cash flow totaled EUR 73 million
Net income from continuing operations amounted to EUR 161 million, compared to EUR 118 million in Q2 2016.
Adjusted EBITA improved 15% to EUR 439 million, or 10.2% of sales, compared to EUR 383 million, or 9.3% of sales, in Q2 2016.
Income from operations (EBIT) amounted to EUR 252 million, or 5.9% of sales, compared to EUR 265 million, or 6.4% of sales, in Q2 2016.
Operating cash flow totaled EUR 73 million, compared to EUR 177 million in Q2 2016.
EUR 1.5 billion share buyback program to start in the third quarter of 2017.
As of Q2 2017, Philips presents the results of Philips Lighting as a discontinued operation. ■