Philips Result 24/04/2017

By Jasmine Kang Sodha
Philips
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Philips reports Q1 FY17 financial result with consolidated sales of €5.7 billion ($6.2 billion), indicating a 2% increase in group sales on a yearly basis and a 3% increase in the HealthTech sales on a yearly basis. The quarterly net income was reported at €259.0 million ($281.5 million), which has increased 7x times on a yearly basis and resulted in a net income margin at 4.5%.

Philips said that it continued to strengthen its position as a leader in health technology by launching several innovations, forging strategic partnerships and winning various integrated solutions deals, emphasizing the company’s strategic transformation into a health technology company.