Philips' First Quarter Results 2008 - Healthcare Sector

Royal Philips Electronics
  • Group sales increase to EUR 5,965 million; growth in Healthcare and Lighting offset by lower television sales.
  • Ongoing growth at Healthcare with 5% higher sales; 9% higher equipment order intake, including double-digit growth in North America.
  • Continuing strong growth of 17% in emerging markets

"I'm particularly pleased about the continuing progress in our Healthcare sector. Together with the solid performance in Lighting and the non-TV businesses in Consumer Lifestyle, this underscores the robustness of our business portfolio in times of economic headwind. Also our excellent growth in emerging markets is a confirmation of the benefits of our good geographic spread", mentioned Gerard Kleisterlee, President and CEO of Royal Philips Electronics.

Q1 Highlights

  • Healthcare Acquisitions - Philips announced two strategic acquisitions: Shenzhen Goldway Industrial in China to strengthen its position in this key emerging market; TOMCAT Systems in Northern Ireland to expand the Healthcare Informatics business unit. The company has also completed the acquisition of Respironics, the global leader in Obstructive Sleep Apnea treatment.
  • HeartCycle - Philips Research announced that it spearheads the HeartCycle consortium, comprising 18 research, academic, industrial and medical organizations from 9 different European countries and China. The consortium will work to improve the quality of life for coronary heart disease and heart failure patients by monitoring their condition and involving them in the daily management of their disease, in one of the largest biomedical and healthcare research project in the E.U.
  • 50th Ambient Experience - Philips completed the installation of its 50th Ambient Experience suite, at Fairview Hospital in Cleveland, Ohio, following other installations in various countries including the U.S., Saudi Arabia and Germany in the quarter.

Related news articles:

About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering people-centric, innovative products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 134,200 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2007, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, as well as lifestyle solutions for personal wellbeing. News from Philips is located at www.philips.com/newscenter.

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