Philips 3Q Net Profit Rose Significantly But Sales Missed Market Views
18 Ottobre 2021 - 7:46AM
Dow Jones News
By Sabela Ojea
Koninklijke Philips NV reported on Monday a significant rise in
net profit for the third quarter but suffered a decline in sales
for the period, which also missed market views.
The Dutch medical-technology group posted a net profit from
continuing operations of 2.98 billion euros ($3.46 billion)
compared with EUR340 million for the same period a year earlier. It
was expected to decline to EUR236 million, taken from the company's
compiled consensus.
The company's net profit result was mainly driven by the sale of
its Domestic Appliances business, it noted.
Quarterly sales decreased to EUR4.16 billion from EUR4.98
billion for the year earlier period, when they were expected to
reach EUR4.18 billion, according to the company's compiled
consensus.
Comparable sales fell 7.6%, Philips said.
Adjusted earnings before interest, taxes and amortization margin
for the third quarter was 12.3%, the company said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 18, 2021 01:31 ET (05:31 GMT)
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