Philips Lighting: a solid first quarter.

(CercleFinance.com) - Philips Lighting's first quarter accounts, which were unveiled before the market opened on Friday, were marked by a 17% y-o-y increase in gross profit.


The decline in conventional light bulbs sales was offset by strong sales of LED bulbs in Europe, such that adjusted Ebita rose from 120 million euros to 142 million euros, i.e. 6 million euros more than expected by the market.

Meanwhile, revenues fell by just 0.7% compared to Q1 2016, to 1.69 billion euros, while the consensus expected a greater fall of around 2%.


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