Philips 4Q Net Profit Rises; Backs 2021 Sales View
January 25 2021 - 1:48AM
Dow Jones News
By Adria Calatayud
Koninklijke Philips NV said Monday that fourth-quarter net
profit rose, but missed analysts' expectations, as it reiterated
its guidance for the year ahead.
The Dutch health-technology company made a net profit of 603
million euros ($734.1 million) compared with EUR556 million for the
same period last year. Analysts expected a net profit of EUR636
million, according to a consensus provided by the company.
Quarterly sales rose to EUR6.00 billion from EUR5.96 billion,
beating analysts' expectations for EUR5.91 billion. On a comparable
basis, sales grew 7%, ahead of company-provided consensus
estimates.
Philips said adjusted earnings before interest, taxes and
amortization margin was 19% in the quarter compared with 17.9% a
year before.
The company reiterated its expectations for low-single-digit
growth in comparable sales in 2021 and an adjusted Ebita margin
improvement of 60-80 basis points.
Philips declared a dividend of EUR0.85 a share.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
January 25, 2021 01:33 ET (06:33 GMT)
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