EARNINGS PREVIEW: Philips 1Q Net Profit Seen Down 29%

Royal Philips NV (PHG): 1Q Earnings 
Due: April 22 at 0500 GMT 
Factset survey of 8 Analysts 
Average Revenues: EUR5.20B, down 1% (EUR5.26B in 1Q 2013) 
Average EBIT: EUR279M, down 8.5% (EUR305M in 1Q 2013) 
Average Net Profit: EUR114M, down 29% (EUR161M 1Q 2013) 
 

Note: Results are under pressure from the impact of foreign exchange rates and the temporary shutdown of a healthcare production facility in Cleveland, Ohio. Philips has said this will have a negative impact of EUR60 million to EUR70 million on EBITA during the first half of 2014. Analysts will focus on statements about the outlook for the rest of the year, order intake at the healthcare business and growth trends in emerging markets. At its annual results Philips said it expected a slow start of the year in which it will make modest progress towards achieving its 2016 financial targets. ([e-mail])

 
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