Philips 2008 Annual Report Download - page 266
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Key financial targets
Our main strategic fin a n c i a l t a r g e t t o d o u b l e E B I T A
per common share compared to the level of 2007
is supported by a number of specific financial
objectives as follows:
Realize average annual comparable sales •
growth of 6%
Increase Group EBITA margin to 10-11% •
of sales of which
- Healthcare 15-17%
- Consumer Lifestyle 8-10%
- Lighting 12-14%
Generate a return on invested capital of 12-13%•
Sustainability
We seek to make constant progress in the
sustainability of our business. A clear example of how
we are driving business growth through sustainability
is evident in our current EcoVision4 program:
EcoVision4 targets
over the period 2007 - 2012
Double revenues from Green Products •
to 30% of total sales
Double investment in Green Innovations •
to a cumulative EUR 1 billion
Improve our operational energy efficiency •
by 25% and reduce CO2 emissions by 25%
The Philips investment proposition
Our strategy
We believe that demand for healthcare (especially
outside
the hospital), a healthy lifestyle and energy-
efficient high- quality lighting will grow by 6% per
annum and generate double-digit EBITA margins.
We have therefore realigned and focused our
portfolio on leading businesses in these
markets.
We have divested our portfolio of semiconductor
and electronic components businesses (including
participations) and used half the proceeds to acquire
leadership-strengthening companies, with Genlyte
and Respironics as the key examples in 2008;
the other half
was used for reducing debt and for
return to shareholders.
Based on our “sense and simplicity” brand promise,
combining advanced end-user insights with our
rich technological heritage, we build competitive
advantageby bringing meaningful innovations to our
customers and end-users. In doing this, we will make
Philips, already one of the oldest and strongest global
brands, the preferred brand in health and well-being.
Philips Annual Report 2008266
180
Sustainability performance
192
IFRS financial statements
244
Company financial statements
124
US GAAP financial statements