Five-year overview

Prior-period financial information has been restated for the treatment of the combined businesses of Lumileds and Automotive as discontinued operations (see note (3) Discontinued operations and other assets classified as held for sale) and for two voluntary accounting policy changes (see note (1) Significant accounting policies).

Due to factors such as acquisitions and divestments, the amounts, percentages and ratios are not directly comparable.

Philips Group
General data in millions of EUR unless otherwise stated
2010 - 2014
 
2010
2011
2012
2013
2014
Sales
19,299
19,918
22,234
21,990
21,391
% increase over previous year
11%
3%
12%
(1)%
(3)%
Income from operations (EBIT) (loss)
1,569
(542)
592
1,855
486
Financial income and expenses - net
(175)
(331)
(329)
(330)
(301)
Income (loss) from continuing operations
1,051
(1,106)
(166)
1,034
221
Income (loss) from continuing operations attributable to shareholders
1,045
(1,110)
(171)
1,031
225
Income (loss) from discontinued operations
250
(350)
136
138
190
Net income (loss)
1,301
(1,456)
(30)
1,172
411
Net income (loss) attributable to shareholders
1,295
(1,460)
(35)
1,169
415
Free cash flow
1,148
(53)
1,645
82
497
Net assets
15,067
12,362
11,185
11,227
10,968
Turnover rate of net operating capital1)
1.52
1.81
2.22
2.39
2.30
Total employees at year-end
119,775
125,240
118,087
116,082
113,678

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Philips Group
Income in millions of EUR unless otherwise stated
2010 - 2014
 
2010
2011
2012
2013
2014
EBIT
1,569
(542)
592
1,855
486
as a % of sales
8.1%
(2.7)%
2.7%
8.4%
2.3%
EBITA
1,979
1,334
1,003
2,276
821
as a % of sales
10.3%
6.7%
4.5%
10.4%
3.8%
Income taxes
(361)
(248)
(218)
(466)
(26)
as a % of income before taxes
-25.9%
28.4%
(82.9)%
(30.6)%
(14.1)%
Income (loss) from continuing operations
1,051
(1,106)
(166)
1,034
221
as a % of shareholders’ equity (ROE)
6.9%
(8.2)%
(1.4)%
9.4%
2.0%
Net income (loss)
1,301
(1,456)
(30)
1,172
411

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Philips Group
Capital employed in millions of EUR unless otherwise stated
2010 - 2014
 
2010
2011
2012
2013
2014
Cash and cash equivalents
5,833
3,147
3,834
2,465
1,873
Receivables and other current assets
5,324
5,570
5,156
5,262
5,606
Assets classified as held for sale
120
551
43
507
1,613
Inventories
3,865
3,625
3,495
3,240
3,314
Non-current financial assets/investments in associates
660
549
726
657
619
Non-current receivables/assets
1,532
1,929
2,189
1,882
2,706
Property, plant and equipment
3,145
3,014
2,959
2,780
2,095
Intangible assets
12,233
11,012
10,679
9,766
10,526
Total assets
32,712
29,397
29,081
26,559
28,352
 
 
 
 
 
 
Property, plant and equipment:
 
 
 
 
 
Capital expenditures for the year
398
477
479
482
437
Depreciation for the year
538
525
588
521
592
Capital expenditures: depreciation
0.7
0.9
0.8
0.9
0.7
 
 
 
 
 
 
Inventories as a % of sales1)
16.0%
16.5%
14.1%
13.7%
15.5%
Inventories excluding discontinued operations
3,091
3,278
3,127
3,021
3,314
Outstanding trade receivables, in days sales1)
56
54
50
53
56

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Philips Group
Financial structure in millions of EUR unless otherwise stated
2010 - 2014
 
2010
2011
2012
2013
2014
Other liabilities
10,610
10,434
10,379
8,529
9,486
Liabilities directly associated with assets held for sale
61
27
348
349
Debt
4,658
3,860
4,534
3,901
4,104
Provisions
2,377
2,680
2,956
2,554
3,445
Total provisions and liabilities
17,645
17,035
17,896
15,332
17,384
Shareholders’ equity
15,021
12,328
11,151
11,214
10,867
Non-controlling interests
46
34
34
13
101
Group equity and liabilities
32,712
29,397
29,081
26,559
28,352
 
 
 
 
 
 
Net debt: group equity ratio
(8):108
5:95
6:94
11:89
17:83
Market capitalization at year-end
21,694
15,077
18,200
24,340
22,082

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Philips Group
Key figures per share in EUR unless otherwise stated
2010 - 2014
 
2010
2011
2012
2013
2014
Sales per common share
20.49
20.90
24.11
24.14
23.37
EBITA per common share - diluted
2.08
1.39
1.08
2.47
0.89
Weighted average amount of shares outstanding:
 
 
 
 
 
  • basic1)
941,691
952,809
922,101
911,072
915,193
  • diluted1)
949,554
957,293
927,222
922,072
922,714
Basic earnings per common share:
 
 
 
 
 
Income (loss) from continuing operations attributable to shareholders per share
1.11
(1.16)
(0.19)
1.13
0.25
Net income (loss) attributable to shareholders
1.38
(1.53)
(0.04)
1.28
0.45
Diluted earnings per common share:
 
 
 
 
 
Income (loss) from continuing operations attributable to shareholders per share
1.10
(1.16)
(0.19)
1.12
0.24
Net income (loss) attributable to shareholders
1.36
(1.53)
(0.04)
1.27
0.45
Dividend distributed per common share
0.70
0.75
0.75
0.75
0.80
Total shareholder return per common share
2.94
(5.89)
4.37
7.50
(1.70)
Shareholders’ equity per common share
15.87
13.31
12.19
12.28
11.88
Price/earnings ratio
20.65
(14.03)
(104.74)
23.58
96.60
Share price at year-end
22.92
16.28
19.90
26.65
24.15
Highest closing share price during the year
26.94
25.34
20.33
26.78
28.10
Lowest closing share price during the year
20.34
12.23
13.76
20.26
20.98
Average share price
23.35
18.11
16.92
23.33
24.00
Amount of common shares outstanding at year-end1)
946,506
926,095
914,591
913,338
914,389

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Philips Group
Sustainability
2010 - 2014
 
2010
2011
2012
2013
2014
Lives improved, in billions
 
 
1.6
1.7
1.9
Energy efficiency of products, in lumen/watt
35.9
37.6
39.3
40.1
40.5
Collection and recycling amount, in tonnes
22,500
27,500
30,500
31,000
31,500
Recycled material in products, in tonnes
7,500
10,000
15,000
14,000
13,000
Green Product sales, as a % of total sales
36%
39%
46%
50%
52%
Green Innovation, in millions of euros
313
363
453
405
463
Operational carbon footprint, in kilotonnes CO2-equivalent
1,756
1,635
1,441
1,451
1,375
Operational energy efficiency, in terajoules per million euro sales
1.45
1.33
1.13
1.17
1.14
Total energy consumption in manufacturing, in terajoules1)
12,464
12,030
12,014
11,963
11,257
Total carbon emissions in manufacturing, in kilotonnes CO2-equivalent
612
560
564
524
474
Water intake, in thousands m3
2,896
2,895
3,137
3,289
3,103
Total waste, in kilotonnes1)
96.2
87.0
80.6
75.9
75.0
Materials provided for recycling via external contractor per total waste, in %
79%
78%
77%
79%
80%
Restricted substances, in kilos
188
111
55
9
9
Hazardous substances, in kilos
60,272
63,604
67,530
35,118
28,310
ISO 14001 certification, as a % of all reporting organizations1)
94%
87%
69%
79%
79%
Employee Engagement Index, % favorable
77%
76%
79%
75%
72%
Female executives, in % of total
11%
13%
14%
15%
18%
Lost Workday Injuries, per 100 FTEs
0.45
0.38
0.31
0.27
0.23
Fatalities
2
7
3
1
Initial and continual conformance audits, number of audits
273
212
159
200
203
Suppliers audits, compliance rate, in %
 
72%
75%
77%
86%
1)
Calculated based upon the values excluding the businesses restated to discontinued operations.
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(0)
(0)

Free cash flow is the net cash flow from operating activities minus net capital expenditures.

Sales divided by average net operating capital (calculated on the quarterly balance sheet positions).

CO2-equivalent or carbon dioxide equivalent is a quantity that describes, for a given mixture and amount of greenhouse gas, the amount of CO2 that would have the same global warming potential (GWP), when measured over a specified timescale (generally 100 years).

Earnings before interest, tax and amortization (EBITA) represents income from continuing operations excluding results attributable to non-controlling interest holders, results relating to investments in associates, income taxes, financial income and expenses, amortization and impairment on intangible assets (excluding software and capitalized development expenses). Philips believes that EBITA information makes the underlying performance of its businesses more transparent by factoring out the amortization of these intangible assets, which arises when acquisitions are consolidated. In our Annual Report on form 20-F this definition is referred to as Adjusted IFO.

SF6 (Sulfur hexafluoride) is used in the electrical industry as a gaseous dielectric medium.

Green Innovation comprise all R&D activities directly contributing to the development of Green Products or Green Technologies.

A carbon footprint is the total set of greenhouse gas emissions caused by an organization, event, product or person; usually expressed in kilotonnes CO2-equivalent. The Philips operational carbon footprint is calculated on a half-year basis and includes industrial sites (manufacturing and assembly sites), non-industrial sites (offices, warehouses, IT centers and R&D facilities), business travel (lease and rental cars and airplane travel) and logistics (air, sea and road transport).