Philips 2008 Annual Report Download - page 42
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“ 2008 was an extremely challenging year, especially the second half, with a macro-economic decline
on a scale not seen for decades. Nevertheless, for the full year our top line decreased only slightly, with
a steady 31% of sales coming from emerging markets, while many of our businesses continue to hold
global leadership positions. We ended 2008 with a strong balance sheet supported by robust operating
cash flows, and we remain fully committed to prudent and effective cash management in the coming year.”
Pierre-Jean Sivignon, Chief Financial Officer
Free cash flow
821 million2007 773 million2008
Philips Annual Report 200842
42
Our group performance
Management discussion
and analysis
18
We care about...
8
Message from
the President
6
Performance highlights
14
Who we are