PHILPS Q1 lighting revenue 11 billion 600 million LED lighting accounted for more than 39%

[LED] PHILPS network 28 announced first quarter earnings, revenues of 5 billion 340 million euros (about 36 billion 128 million yuan), an increase of 14%, mainly because of the euro against the dollar and other major currencies, excluding currency effects, revenue growth of 2%; tax amortization EBITA reached 230 million euros (equivalent to approximately RMB 1 billion 556 million yuan), compared with the same period last year fell 9.1% 253 million euros; tax amortization deduction EBITA restructuring and acquisition related expenses, amounted to 327 million euros (about 2 billion 212 million yuan), compared with the same period last year 304 million growth of 7.6%; to achieve net profit of 100 million euros (about 677 million yuan), compared with the same period last year 137 million euros, fall 27%.

PHILPS CEO Frans Van Houten said: "we can see that the LED business revenue continued strong growth and improved profitability; but at the same time, is also facing the traditional lighting business decline faster, the North American market of professional lighting solutions for poor performance. We will continue to actively rationalize the traditional lighting business, and believe that it is still profitable. In addition, we are pleased to sell LED devices and automotive lighting (80.1% stake) to the Jinsha River consortium, and hopes to complete the transaction in the third quarter of 2015. "

Outlook 2015, Frans Van Houten estimates the company's 2015 annual revenue will be modest growth, continue to focus on promoting the improvement of operating performance in order to improve the tax rate and the profit margin before amortization (EBITA margin).

PHILPS said it would be an independent legal institutions to transition into the lighting business at least until the end of 2015, in order to do a good job in the preparation of the spin off, currently intends to apply for the first half of 2016 through IPO. In addition, the company said that in 2015 the cost of the split is estimated at 3-4 billion euros.

Announcement shows that the first quarter of the lighting business (excluding Lumileds and automotive lighting) revenues of 1 billion 720 million euros (about 11 billion 637 million yuan), an increase of 9%, mainly because of the euro against the dollar and other major currencies, excluding currency effects, revenue fell 3%. Among them, LED lighting revenue grew by 25%, accounting for the total lighting revenue of 39%, while the traditional lighting business revenue fell by 16%. First quarter results were mainly due to changes in lighting: LED lighting and professional lighting solutions operating performance has improved, but the decline in traditional lighting offset part of.

In addition, as of March 31, 2015, PHILPS has completed 1 billion 500 million euros stock repurchase program of 50%. (/LED net Flora)

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).