Philips earns 407 million in the first half

Philips (+ 3%) achieved a net attributable profit of 407 million euros in the first half of 2019, which represents an advance of 223% compared to the same period of 2018, when the company earned 126 million euros, according to informed the Dutch multinational.

Philips sales between January and June reached 8,822 million euros, 7.2% more than in the first half of last year, while comparable data grew by 4%.

In the second quarter, Philips obtained an attributable net profit of 243 million euros, while its sales increased by 8.9% to 4,671 million.

Philips’ debt at June 30 amounted to 5,817 million euros, a figure that represents an increase of 997 million with respect to the close of the 2018 fiscal year.

“We continue to expect our momentum to improve further in the second half of the year, supported by the growth in sales and our productivity programs,” said Frans van Houten , CEO of Philips. In this way, the multinational hopes to achieve a growth of its comparable sales of between 4% and 6%.

Anthony Rankin

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