By Oliver Griffin

Koninklijke Philips N.V. (PHG) said Thursday that it expects to increase free cash flow to above 1.50 billion euros ($1.72 billion) in 2020 and reiterated its sales and adjusted Ebitda targets.

The Dutch technology company said it expects average comparable sales growth of between 4%-6% each year from 2017 to 2020.

Philips also said it continues to aim for annual improvements to adjusted earnings before interest, taxes, depreciation and amortization of 1% on average per year in the same period. It expects an improvement in organic return on invested capital in the mid-to-high teens in 2020.

The company said it has increased its productivity program aim from EUR1.2 billion by 2019 to EUR1.8 billion by 2020.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

November 08, 2018 05:03 ET (10:03 GMT)

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