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3 months ago
BRIEF-Philips Lighting Q1 net income beats Reuters poll
April 21, 2017 / 5:30 AM / 3 months ago

BRIEF-Philips Lighting Q1 net income beats Reuters poll

1 Min Read

April 21 (Reuters) - Philips Lighting NV:

* Reports improvement in comparable sales growth, continued increase in operational profitability and free cash flow

* Q1 Reuters poll: revenues EUR 1.67 billion ($1.79 billion); adjusted EBITA EUR 136 million; EBITA EUR 100 million; net income EUR 45 million

* Q1 2017 sales of EUR 1,690 million

* Q1 adjusted EBITA EUR 142 million versus EUR 136 million in Reuters poll

* Q1 net income of EUR 61 million (Q1 2016: EUR 14 million)

* On track to further improve adjusted EBITA margin by approximately 50-100 basis points in 2017

* In 2017 expects adjusted EBITA margin of 11-13 pct, expects to deliver solid free cash flow

* Remains cautious given global economic uncertainty Source text for Eikon: Further company coverage: ($1 = 0.9333 euros) (Gdynia Newsroom)

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