Philips net profit decreased by 75% in the fourth quarter

Philips reported that it ended the 4th quarter of the previous year with a net income of 151 million euros. In the corresponding quarterly period of the previous year, it amounted to 607 million euros. The company’s quarterly revenue decreased year on year by 6%. It amounted to 4.9 billion euros. The significance of the indicator turned out to be worse than the prognosis. Philips’ annual revenue is estimated at 17.2 billion euros. The company announced that it intends to pay dividends to shareholders for 85 cents per share. It expects LFL sales to decline this quarter. In the 2nd quarter, their capacity will begin to gradually recover. Moreover, in the 2nd half of this year, comparable sales will begin to grow. In general, they can increase by 3-5% per year. After the reporting data issuing, papers of Philips fell in price by 1.8%. Currently, its capitalization is 25.8 billion euros. Over the past twelve months, it has fallen by 36%.

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