Led by double-digit growth in China and the robust performance in D&T and PH, sales accelerated slightly in Q3 19. However, order intake was flat due to softness in North America. Also, margins were held back by the adverse effect of tariffs, particularly in CC. As the mitigating actions (to counter tariffs) begin to bear fruit, we anticipate a margin advancement in Q4. Also, the c.100bp margin improvement target for FY20 appears within reach, given the positive growth trajectory in D&
29 Oct 2019
Sales momentum accelerates in Q3 while profitability misses the bus
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Sales momentum accelerates in Q3 while profitability misses the bus
Koninklijke Philips N.V. (PHIA:WBO) | 0 0 1.5% | Mkt Cap: 29,653m
- Published:
29 Oct 2019 -
Author:
Sumit Sayal -
Pages:
4
Led by double-digit growth in China and the robust performance in D&T and PH, sales accelerated slightly in Q3 19. However, order intake was flat due to softness in North America. Also, margins were held back by the adverse effect of tariffs, particularly in CC. As the mitigating actions (to counter tariffs) begin to bear fruit, we anticipate a margin advancement in Q4. Also, the c.100bp margin improvement target for FY20 appears within reach, given the positive growth trajectory in D&