Benzinga | Jan 24, 2022 06:12AM EST

Philips Earlier Reported Q4 Sales EUR4.9B, Adj. EBITA EUR647M

Fourth-quarter highlights

* Group sales amounted to EUR 4.9 billion, with a 10% comparable sales decline

* Comparable order intake increased 4%, driven by double-digit growth in the Diagnosis & Treatment businesses

* Income from continuing operations amounted to EUR 139 million and included an impact of EUR 220 million related to the addition to the Respironics field action provision; income from continuing operations was EUR 508 million in Q4 2020

* Adjusted EBITA of EUR 647 million, or 13.1% of sales, compared to EUR 995 million, or 19.0% of sales, in Q4 2020

* Operating cash flow was EUR 720 million, resulting in a free cash flow of EUR 519 million

Full-year highlights

* Group sales amounted to EUR 17.2 billion, with high-single-digit comparable sales growth in the Diagnosis & Treatment and Personal Health businesses, offset by a decline in the Connected Care businesses, resulting in a 1% comparable sales decline

* Comparable order intake increased 4%, driven by double-digit growth in the Diagnosis & Treatment businesses

* Income from continuing operations was EUR 612 million and included an impact of EUR 719 million related to the Respironics field action provision; income from continuing operations was EUR 999 million in 2020

* Adjusted EBITA of EUR 2,054 million, or 12.0% of sales, compared to EUR 2,277 million, or 13.2% of sales, in 2020

* Operating cash flow was EUR 1,629 million, resulting in a free cash flow of EUR 900 million

* Proposed dividend maintained at EUR 0.85 per share, in cash or shares at the option of the shareholder