LEDs now represent 61% of Philips Lighting sales

Philips Lighting announced the company’s 2017 first quarter results. “Our comparable sales growth improved in comparison to previous quarters, driven by double-digit growth in our business groups LED and Home and a return to growth in Europe and the Rest of the World, despite ongoing challenging conditions in some markets. We continued to increase our operational profitability and free cash flow compared to the first quarter of last year, demonstrating the rigorous implementation of our strategy," said CEO Eric Rondolat. "These results reinforce our confidence that the company is well positioned to achieve its 2017 outlook and medium term goals.”

The company is on track to further improve its Adjusted EBITA margin by approximately 50-100 basis points in 2017, in line with their medium term outlook to gradually improve the Adjusted EBITA margin to 11-13%, and to deliver solid free cash flow. Philips Lighting remains cautious given global economic uncertainty, but are committed to their ambition to return to positive comparable sales growth in the course of this year.

For more information:
Philips Lighting
www.philips.com