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Home Industry News Philips highlights annual growth trends in 2015

Philips highlights annual growth trends in 2015

27th January 2016

Philips has announced its financial results for 2015, during which it delivered an annual sales total of 24.2 billion euros (18.46 billion pounds).

This represented a year-on-year improvement of two percent, driven in large part by the greater than four percent annual growth recorded by its health technology portfolio. The firm's earnings and income positions also improved.

Key highlights of 2015 included the success of the firm's Accelerate! programme, which is helping to drive strong operational improvements, including a 50 percent rise in ClarityIQ upgrades for interventional X-ray systems from 2013 to 2015 achieved by automating the system upgrade sales process.

Philips' three cost savings programmes also delivered ahead of schedule, while the planned separation of its lighting business unit is on course to be completed in the first half of the year.

Frans van Houten, chief executive officer of Philips, said: "Overall, 2015 was a solid year for Philips, as illustrated by consistent performance improvements in the face of ongoing challenging macroeconomic circumstances."

Modest comparable sales growth has been forecast for 2016, with ongoing economic headwinds and the phasing of costs and sales meaning improvements are likely to be back-end loaded.ADNFCR-8000103-ID-801811173-ADNFCR

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