Performance highlights

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). For a reconciliation to the most directly comparable GAAP measures, see Reconciliation of non-GAAP information.

Philips Group
Key data in millions of EUR unless otherwise stated
2013 - 2014
 
2013
2014
Sales
21,990
21,391
Comparable sales growth
3%
(1)%
EBITA
2,276
821
as a % of sales
10.4%
3.8%
EBIT
1,855
486
as a % of sales
8.4%
2.3%
Net income (loss)
1,172
411
Net income attributable to shareholders per common share in EUR:
 
 
basic
1.28
0.45
diluted
1.27
0.45
Net operating capital
10,238
8,838
Free cash flow
82
497
Shareholders’ equity
11,214
10,867
Employees at December 31
116,082
113,678
of which discontinued operations
10,445
8,313

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Philips Group
Free cash flow in millions of EUR
2010 - 2014
1,691(543)1,148‘10610(663)(53)‘111,886(241)1,645‘12912(830)82‘131,303Operating cash flows(806)Net capital expenditures497Free cash flow‘14
Philips Group
Gross margin in millions of EUR
2010 - 2014
8,173‘1042.3%8,051‘1140.4%8,729‘1239.3%9,337‘1342.5%8,206In value‘1438.4%As a % of sales
Philips Group
Net debt (cash) to group equity in billions of EUR
2010 - 2014
(1.2)15.1‘100.712.4‘110.711.2‘121.411.2‘132.2Net debt (cash)11.0Group equity‘14
Philips Group
General and administrative expenses in millions of EUR
2010 - 2014
657‘103.4%795‘114.0%847‘123.8%825‘133.8%747General and administrativeexpenses‘143.5%As a % of sales
Philips Group
Green Product sales per sector in millions of EUR
2010 - 2014
2,1361,0673,6966,89935.8%‘102,6631,1013,9557,71938.8%‘113,6101,6195,05610,28546.3%‘123,6902,2705,03710,99750.0%‘133,508Healthcare2,605Consumer Lifestyle4,952Lighting11,06551.7%‘14As a % of sales
Philips Group
Brand value1) in billions of USD
2010 - 2014
8.7‘108.7‘119.0‘129.8‘1310.3‘14
1) As measured by Interbrand
Philips Group
Research and development expenses in millions of EUR
2010 - 2014
1,1233131,4367.4%‘101,1803631,5437.7%‘111,2714531,7247.8%‘121,2544051,6597.5%‘131,172Other Innovation463Green Innovation1,635Research and developmentexpenses7.6%‘14As a % of sales
Philips Group
Operational carbon footprint in kilotonnes CO2-equivalent
2010 - 2014
6492461636981211,877‘106322561196281181,753‘115252161185821601,601‘125502261175582131,664‘13545Logistics227Business travel124Non-industrial operations479Manufacturing168Discontinued operations1,543‘14
Philips Group
New patents filed in number of patents
2010 - 2014
1,300‘101,450‘111,500‘121,550‘131,680‘14
Philips Group
Group in millions of EUR
2013 - 2014
 
2013
2014
 
Sales
21,990
21,391
3%
Green Product sales
10,997
11,065
1%
Sales in mature geographies1)
14,322
14,004
2%
Sales in growth geographies1)
7,668
7,387
4%
EBITA
2,276
821
64%
Net operating capital
10,238
8,838
14%
1)
For a definition of mature and growth geographies see Definitions and abbreviations
Philips Healthcare
Healthcare
2013 - 2014
 
2013
2014
 
Sales
9,575
9,186
4%
Green Product sales
3,690
3,508
4%
Sales in mature geographies 1)
7,154
6,890
4%
Sales in growth geographies 1)
2,421
2,296
5%
EBITA
1,512
616
59%
Net operating capital
7,437
7,565
2%
1)
For a definition of mature and growth geographies see Definitions and abbreviations
Philips Consumer Lifestyle
Consumer Lifestyle
2013 - 2014
 
2013
2014
 
Sales
4,605
4,731
3%
Green Product sales
2,270
2,605
15%
Sales in mature geographies1)
2,418
2,508
4%
Sales in growth geographies 1)
2,187
2,223
2%
EBITA
483
573
19%
Net operating capital
1,261
1,353
7%
1)
For a definition of mature and growth geographies see Definitions and abbreviations
Philips Lighting
Lighting
2013 - 2014
 
2013
2014
 
Sales
7,145
6,869
4%
Green Product sales
5,037
4,952
2%
Sales in mature geographies 1)
4,254
4,182
2%
Sales in growth geographies 1)
2,891
2,687
7%
EBITA
580
293
49%
Net operating capital
4,462
3,638
18%
1)
For a definition of mature and growth geographies see Definitions and abbreviations
(0)
(0)

Comparable sales exclude the effect of currency movements and acquisitions and divestments (changes in consolidation). Philips believes that comparable sales information enhances understanding of sales performance.

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.

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).

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

Mature geographies are the highly developed markets comprising of Western Europe, North America, Japan, South Korea, Israel, Australia and New Zealand.

Growth geographies are the developing geographies comprising of Asia Pacific (excluding Japan, South Korea, Australia and New Zealand), Latin America, Central & Eastern Europe, the Middle East (excluding Israel) and Africa.

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