Philips 2009 Annual Report Download - page 89

5.3 Consumer Lifestyle
“In 2009 we focused relentlessly on managing cost and cash in
order to cushion the impact of the global downturn, while at
the same time building for a profi table future. Our acquisition
of Saeco showed that we are serious about growth.”
Andrea Ragnetti, CEO Philips Consumer Lifestyle
€ 8.5 billion sales 4.0% EBITA as a % of sales € 587 cash fl ows before
fi nancing activities
million
• Stringent cost management helps cushion impact
of global downturn
• Acquisition of Saeco brings global leadership
position in coffee appliances
• Four strategic platforms identified, all with
growth drivers
• Even greater emphasis on health and well-being
5.3.1 Introduction
In a year characterized by a continuing global economic
downturn and lower levels of consumer confidence and
spending power, there were nonetheless a number of
encouraging signs.
Many people’s behavior has changed in light of the crisis,
with a greater emphasis on entertaining, relaxing and
personal care in the home rather than outside it. In
addition, there is an ongoing focus on personal health and
well-being; more and more people are becoming aware
that they have to actively address this issue in order to
improve the quality of their lives. And consumers are
limited far less than before by traditional boundaries
5 Our sector performance 5.3 - 5.3.1
Philips Annual Report 2009 89