Philips Healthcare parent Royal Philips Electronics has released a new five-year plan aimed at growth and strengthening its market position in the markets for health and well-being products.
Following up on its Vision 2010 strategy, Philips will continue to emphasize activities in key businesses such as home healthcare, LED lighting technology, and healthy living and personal care, said Philips President and CEO Gerard Kleisterlee.
Philips has also released its financial goals for the next five years, including comparable annual sales growth at least 2% higher on an annual average basis than the global gross domestic product from 2011-2015. The company is also aiming for reported annual earnings before interest, taxes, and amortization (EBITA) of between 10% and 13% of sales and earnings-per-share growth at double the rate of comparable annual sales growth over the period.
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