Philips 2015 Annual Report Download - page 23
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Group performance 5
Annual Report 2015 23
5 Group performance
“ 2015 saw Philips returning to growth and improving
protability in challenging macro-economic conditions as
our Accelerate! program continued to deliver results.”
Abhijit Bhattacharya, CFO Royal Philips
5.1 Financial performance
Management summary
The year 2015
• Comparable sales rose 4.5% in our HealthTech
portfolio, which combines our Healthcare and
Consumer Lifestyle businesses. This illustrates the
progress we are making in capturing opportunities in
this large and growing market. Overall, comparable
sales for the Group increased by 2% to EUR 24.2
billion.
• Our Healthcare business recorded 4% growth. More
signicantly, our order intake was up 5% for the year.
This performance was supported by strong growth in
North America and Western Europe – and a
substantial rebound in China in Q4.
• Our Consumer Lifestyle business achieved a
comparable sales increase of 6% year-on-year,
driven by double-digit growth at Health & Wellness
and high-single-digit growth at Personal Care.
• Lighting recorded another year of operational
improvements, resulting in a substantial increase in
protability. We strongly improved the performance
of our LED business, which grew by 25% on a
comparable basis and signicantly improved
protability. On a full-year basis LED now accounts
for 43% of total Lighting sales. In the conventional
lamps business we continued to gain market share in
a declining market and improved protability
combined with a solid cash ow. The expected
decline in conventional lighting led to a comparable
sales decrease of 3% for our Lighting business overall.
•In line with our mission to improve people’s lives, we
have embedded sustainability at the heart of our
business processes, and Green Product sales
increased to 54% of total revenues in 2015. In
recognition of our sustainability achievements,
Philips was named industry leader in the Industrial
Conglomerates category in the 2015 Dow Jones
Sustainability Index.