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Philips' position in the first quarter grew as China increased revenue

Royal Philips announced first-quarter revenue growth of 12.5 percent with a 2% revenue growth as the Dutch health technology group increased double-digit revenue growth from China and Central and Eastern Europe. His advanced markets were declining.

A leader in diagnostic imaging, consumer health, and patient tracking, the Amsterdam-based group generated sales of 4.2 billion euros this quarter, 2 percent more than in the same period three months ago. Adjusted pre-tax earnings, interest, depreciation and amortization this year increased by EUR 576 million, from EUR 512 million in the previous year. Revenues from continuing operations increased to 171 mn EUR compared to 94 mn EUR.

Shares rose 1% in the first minutes of trading in Amsterdam.

"We had a reasonable start of the year," said Frans van Houten, Managing Director since 2011. "We expect our performance drivers to improve over the course of the year. We reaffirm our overall targets of 4 to 6% of comparable revenue growth and a revised margin increase of 100 basis points on average for 2017 for 2017-2020. "

In the first quarter, the Group received restructuring and acquisition fees of EUR 85 million, compared with EUR 82 million in the same period in 2018. In the first quarter of this year, the Group included a litigation fee plus profit related to the sale of photonics. Germany.

The Group's comparable order reflects double-digit growth in China and Latin America, while advanced markets such as North America have declined. Sales increased 10 percent in their growth markets, such as China and Central and Eastern Europe. Sales fell 1% in developed markets.

Over the past eight years, Mr. Van Houten has led Philips to become a lighting and other consumer goods company to become a focused health technology group. Philips Lighting was bought in May 2016 with an initial public offering. He led acquisitions that expanded the company's portfolio, including Volcano and Spectranetics, and Wellcentive and VitalHealth care pioneers.

The growth of advanced markets will be much stronger in the coming quarters than in the first quarter, Reuters CEO said.

Three months ago, Philips said it would buy its € 1.5bn shares. It performed 8.3% of the system in the first quarter and expects to complete it by the end of the second quarter.

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