Philips: posts strong order intake, shares up
(CercleFinance.com) - On Monday Philips reiterated its targets for the period 2017-2020, after posting 10% growth in comparable order intake for the first quarter.
The Dutch medical equipment maker said that "2018 started well," with comparable sales growth of 5% and first-quarter sales of 3.9 billion euros.
Comparable order intake increased 10% compared to Q1 2017, driven by the diagnosis and treatment businesses, the group said.
Net income from continuing operations reached 94 million euros, down from 128 million euros in the first quarter of 2017, although this result includes higher restructuring and acquisition charges and bond redemption costs of 52 million euros, it added.
Looking ahead, Philips reiterated its target of 4-6% comparable sales growth for the period 2017-2020, with an average annual 100-basis point improvement in its adjusted EBITA margin.
The Philips share is currently up 3.8% at 34.2 euros on Euronext Amsterdam after these figures.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Dutch medical equipment maker said that "2018 started well," with comparable sales growth of 5% and first-quarter sales of 3.9 billion euros.
Comparable order intake increased 10% compared to Q1 2017, driven by the diagnosis and treatment businesses, the group said.
Net income from continuing operations reached 94 million euros, down from 128 million euros in the first quarter of 2017, although this result includes higher restructuring and acquisition charges and bond redemption costs of 52 million euros, it added.
Looking ahead, Philips reiterated its target of 4-6% comparable sales growth for the period 2017-2020, with an average annual 100-basis point improvement in its adjusted EBITA margin.
The Philips share is currently up 3.8% at 34.2 euros on Euronext Amsterdam after these figures.
Copyright (c) 2018 CercleFinance.com. All rights reserved.