Philips: LED product sales rose 43% year-on-year in the second quarter

Dutch consumer electronics giant Philips Electronics reported on July 21 that its second-quarter net profit was 242 million euros, better than analysts' expectations of 160 million euros, but down 23.7% year-on-year, mainly due to the company's healthcare business. The season did not perform well.

The financial report shows that Philips' electronic operating income was 5.293 billion euros, down 6% year-on-year, and revenue was 5.632 billion euros in the same period last year. Earnings before amortization (EBITA) fell 30.95% year-on-year to 415 million euros; net profit fell 23.7% year-on-year. To 242 million euros.

In a statement released on the same day, Philips CEO Wan Hao said that in the second quarter, the company continued to face a decline in sales, which was mainly due to the company’s weak sales in certain markets, unfavorable exchange rate factors and the company’s medical insurance business. The effect of stagnation.

It is worth mentioning that Philips medical insurance business sales fell 10% to 2.137 billion euros; company lighting business sales rose 1% year-on-year to 1.943 billion euros, of which LED product sales rose 43% year-on-year, accounting for Philips lighting sales 36% of the proportion; consumer products rose 7% year-on-year to 1.073 billion euros.

However, Marriott said that with the restart of Philips Electronics' Cleveland plant in the United States and the weakening of the exchange rate, it is expected that the profit of the company's medical insurance business will rebound again in the second half of the year, and the profit before amortization will exceed the same period last year.

In January of this year, Philips E-health's Cleveland, Ohio, plant was shut down due to inspection by the US Food and Drug Administration (FDA), resulting in a total loss of 60 million to 70 million euros before the profit of Philips Electronics' amortization.

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