Amsterdam: Philips Lighting, the world’s largest lighting maker, reported worse than expected fourth quarter earnings on Monday, but pledged to increase margins and sales in 2017. Earnings before interest, taxes, appreciation and amortization (EBITA) for the quarter was €188 million ($202 million), up from €159 million in the same period a year ago. Philips Lighting, spun out from its parent Philips NV in May, is racing to grow its LED and other businesses, as its traditional lamps business is in terminal decline. In the fourth quarter, group sales fell 5.4 per cent to €1.93 billion, with LED sales up 9.9 per cent to €440 million — but lamp sales down 20 per cent at €575 million.
Philips Lighting misses on Q4, sees growth in 2017
Ebita for the quarter was €188 million, up from €159 million in the same period a year ago