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Crisis everywhere
Philips does not escape the consequences of the
dire economic conditions in Europe and the United States and made a profit of
162 million euro (-11%). Sales of the consumer department
grew by 10%, if the divested parts are not taken into account.
The badly performing construction industry has
caused the lighting division to stay stable on a comparable basis. The division Healthcare saw its income drop by one percent, because of a lower number of
orders from the US.
Cost savings plan on course
Total sales had a modest decline from 5.31
billion euro to 5.26 billion euro. The company result for one-time expenses was
421 million euro, compared to 322 million euro in the first quarter of 2012.
Most analysts were expecting a higher company result.
Philips also stated that the year is making a
slow start, not in the least because of current situation on the market, which
is anything but encouraging. CEO Frans van Houten said that the cost savings
plan will be followed.
