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BRIEF-Philips Q4 EBITA beats market expectations
January 28, 2014 / 6:21 AM / 4 years ago

BRIEF-Philips Q4 EBITA beats market expectations

AMSTERDAM, Jan 28 (Reuters) - Koninklijke Philips NV : * Q4 net result EUR 412 million euros (average forecast in Reuters poll 455 million) * Q4 EBITA 884 million euros (average forecast in Reuters poll 839 million) * Q4 adjusted EBITA 915 million euros (average forecast in Reuters poll 874 million) * Comparable sales in growth geographies up 15 pct * Announces proposed dividend of .80 euros per share * Says fourth quarter of 2013 was another good quarter for Philips, despite challenging economic environment * Says comparable sales and operational results improve across all sectors * Has completed 7 pct of the EUR 1.5 billion share buy-back program since the start of the program in October 2013 * Says achieved the mid-term financial targets we had set in 2011 * Expect that 2014 will be a modest step towards our 2016 targets * Our overhead cost reduction program has resulted in EUR 1 billion of total gross savings to date * For 2014,remain cautious due to ongoing macro-economic uncertainties, currency headwinds,softer order intake in Q4 2013 * Q4 sales 6.799 billion euros (average forecast in Reuters poll 6.844 billion) * At the end of Q4 2013 net debt position of 1.4 billion euros

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