Philips 4Q Net Profit Rises; Backs 2021 Sales View

   By Adria Calatayud 
 

Koninklijke Philips NV said Monday that fourth-quarter net profit rose, but missed analysts' expectations, as it reiterated its guidance for the year ahead.

The Dutch health-technology company made a net profit of 603 million euros ($734.1 million) compared with EUR556 million for the same period last year. Analysts expected a net profit of EUR636 million, according to a consensus provided by the company.

Quarterly sales rose to EUR6.00 billion from EUR5.96 billion, beating analysts' expectations for EUR5.91 billion. On a comparable basis, sales grew 7%, ahead of company-provided consensus estimates.

Philips said adjusted earnings before interest, taxes and amortization margin was 19% in the quarter compared with 17.9% a year before.

The company reiterated its expectations for low-single-digit growth in comparable sales in 2021 and an adjusted Ebita margin improvement of 60-80 basis points.

Philips declared a dividend of EUR0.85 a share.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

January 25, 2021 01:33 ET (06:33 GMT)

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