Home cleanup lets Philips focus on health push dasha_reuters
Koninklijke Philips on Jan. 28 said it would look to sell its domestic appliances unit, which had revenue of 2.3 billion euros in 2019. The Dutch company will start the process of creating a separate legal structure for this business within the Philips group, which is expected to be completed in 12 to 18 months.
“We have significantly improved the performance of the Domestic Appliances business over the years, which has made a very important contribution to Philips, however this business is not a strategic fit for our future as a health technology leader,” said Chief Executive Frans van Houten. Philips also reported its 2019 earnings, which showed its earnings before interest, tax and amortisation were equivalent to 13.2% of revenue last year, up 10 basis points on the previous 12 months, and missing the company’s initial goal of a 100 basis points improvement.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Philips bids farewell to home appliances to sharpen health focusPhilips will complete its transformation to a health technology business with th...
Weiterlesen »
Your Guide To The Ultimate At-Home Facial Experience, Courtesy of Karlie Kloss's FacialistCelebrity facialist Georgia Louise breaks down how to achieve the ultimate at home facial.
Weiterlesen »
Firms in China extend holidays, ask staff to work from home as virus spreadsBig businesses across China are temporarily shutting stores or advising staff to...
Weiterlesen »
U.S. new home sales drop for third straight month in DecemberSales of new U.S. single-family homes unexpectedly fell in December, likely held...
Weiterlesen »
Inside Love Island winner Dani Dyer’s home with boyfriend Sammy KimmenceThe couple recently spent their first Christmas in the London flat after moving in together
Weiterlesen »