By Carlo Martuscelli

Koninklijke Philips N.V. (PHIA.AE) said Monday that first-quarter net income from continuing operations decreased 27% after booking restructuring, acquisition and bond-redemption charges and backed its outlook for 2017-20.

The Dutch technology company said that net income from continuing operations for the quarter ended March 31 fell to 94 million euros ($115 million), compared with EUR128 million the previous year, on sales that fell to EUR3.9 billion euros, from EUR5.7 billion. Comparable sales increased by 5%, it said.

The company said that its adjusted Ebita margin improved by 130 basis points to 8.7% of sales, compared with 7.4% of sales in the first quarter of 2017.

Philips said it backed its target for the 2017-20 of 4%-6% comparable sales growth and an average annual 100 basis points improvement in adjusted Ebita margin.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

April 23, 2018 01:37 ET (05:37 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Koninklijke Philips NV (EU:PHIA)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Koninklijke Philips NV Charts.
Koninklijke Philips NV (EU:PHIA)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Koninklijke Philips NV Charts.