Philips 2015 Annual Report Download - page 228

Investor Relations 17.1
228 Annual Report 2015
Exchange rate (based on Philips’ consolidation rate)
EUR per USD
2011 - 2015
period end average high low
2011 0.7728 0.7192 0.7728 0.6721
2012 0.7582 0.7776 0.8166 0.7500
2013 0.7255 0.7527 0.7805 0.7255
2014 0.8227 0.7527 0.8227 0.7201
2015 0.9151 0.9007 0.9410 0.8796
17.2 Share information
Market capitalization
Philips’ market capitalization was EUR 21.6 billion at year-
end 2015. On December 31, 2015, the closing price for
Philips’ shares in Amsterdam was EUR 23.56 and the
number of common shares outstanding (after deduction
of treasury shares) amounted to 917 million.
Philips Group
Market capitalization in billions of EUR
2011 - 2015
21.3
Q1
17.2
Q2
12.7
Q3
15.1
Q4
‘11
13.9
Q1
14.5
Q2
16.8
Q3
18.2
Q4
‘12
20.9
Q1
19.2
Q2
21.8
Q3
24.3
Q4
‘13
23.3
Q1
21.4
Q2
23.2
Q3
22.1
Q4
‘14
24.1
Q1
21.1
Q2
19.4
Q3
21.6
Q4
‘15
Share capital structure
During 2015, Philips’ issued share capital decreased by
approximately 4 million common shares to 931 million
common shares. The main reasons for this are the
cancellation of 21,361,016 Philips shares acquired
pursuant to the EUR 1.5 billion share repurchase
program and the issuance of 17,671,990 shares related
to the elective dividend. The number of basic shares
outstanding increased from 914 million at December 31,
2014 to 917 million at December 31, 2015. At December
31, 2015, the shares held in treasury amounted to 14
million shares, of which 12 million are held by Philips to
cover long-term incentive and employee stock
purchase plans.
The Dutch Act on Financial Supervision imposes an
obligation on persons holding certain interests to
disclose (inter alia) percentage holdings in the capital
and/or voting rights in the Company when such
holdings reach, exceed or fall below 3, 5, 10, 15, 20, 25,
30, 40, 50, 60, 75 and 95 percent (as a result of an
acquisition or disposal by a person, or as a result of a
change in the company’s total number of voting rights
or capital issued). Certain cash-settled derivatives are
also taken into account when calculating the capital
interest. The statutory obligation to disclose capital
interest does not only relate to gross long positions, but
also to gross short positions. Required disclosures must
be made to the Netherlands Authority for the Financial
Markets (AFM) without delay. The AFM then noties
such disclosures to the Company and includes them in
a register which is published on the AFM’s website.
Furthermore, an obligation to disclose (net) short
positions is set out in the EU Regulation on Short
Selling.
On June 23, 2015 the Company received notication
from the AFM that it had received disclosure under the
Dutch Act on Financial Supervision of 4.97% of the
voting rights by Dodge & Cox. On July 24, 2015 the
Company received notication from the AFM that it had
received disclosure under such Act of a substantial
holding of 4.06%, and of 5% of the voting rights by
Blackrock, Inc. On January 7, 2016 the Company
received notication from the AFM that it had received
disclosure under such Act of a substantial holding (and
voting rights) of 4.99% by Harris Associates L.P.
The following shareholder portfolio information is
based on information provided by several large
custodians and a survey conducted in December 2015.
Philips Group
Shareholders by region (approximated)1) in %
2015
52North America
9France
9United Kingdom
7Netherlands
16Rest of Western Europe2)
7Other
1) Split based on identied shares in shareholder identication
2) Includes countries in Western Europe with a shareholding of less than
5 %
Philips Group
Shareholders by style (approximated)1) in %
2015
24Value
21Growth
16Index
9GARP2)
8SWF3)
4Yield
4Retail
14Other
1) Split based on identied shares in shareholder identication
2) Growth at a reasonable price
3) Sovereign Wealth Funds