Philips Lighting said that the company's operating profit increased mainly due to the significant growth of LED, professional lighting and home connected lighting. Among them, Europe's economic growth is strong, the American economy continues to grow, and the Middle East and Turkey markets, especially Saudi Arabia, still face challenges. Philips Lighting announced its third-quarter results on Thursday, and its core business profit increased slightly, in line with expectations. Highlights for the third quarter of 2017 Sales of 1.684 billion euros, an increase of 1.3%. Total LED sales increased by 22% year-on-year, accounting for 68% of total sales (third quarter of 2016: 56%) Adjusted EBITA was 176 million euros (third quarter of 2016: 175 million euros) Adjusting EBITA profit margins 50 basis points to 10.5% (Q3 2016: 10.0%) Net income of 110 million euros (third quarter of 2016: 51 million euros) Free cash flow of -5 million euros (third quarter of 2016) : 164 million euros) Philips Lighting said that the company's operating profit increased mainly due to the significant growth of LED, professional lighting and home connected lighting. Among them, Europe's economic growth is strong, the American economy continues to grow, and the Middle East and Turkey markets, especially Saudi Arabia, still face challenges. According to the report, in the third quarter, Lamps sales were 423 million euros, down 20.2% year-on-year; LED sales were 416 million euros, up 14.3% year-on-year; professional lighting products business sales were 685 million euros, up 7.0% year-on-year; home lighting sales The amount was 158 million euros, a year-on-year increase of 28.1%. According to our goal, Philips Lighting achieved significant sales growth during the quarter. CEO Eric Rondolat said that in the transition, the growth of LED and smart connected lighting systems and services offset the decline of traditional business. At the same time, we continue to improve profitability, LED and intelligent lighting systems and services are huge contributors. This demonstrates the successful implementation of our strategy and strengthens our confidence in achieving our vision in 2017. Philips said it expects strong free cash flow in the fourth quarter due to a significant reduction in inventories. Third Quarter 2017 Business Highlights Strengthening Continuous Leadership in Connected Lighting Systems, the company formed an alliance with American Tower Corporation (AMT), the largest wireless infrastructure provider in the US, to develop smart light poles to integrate 4G/5G base stations with street lights Together, accelerate the transformation of smart cities in the United States. Demonstrating the company's leading position in architectural lighting systems, Philips has installed numerous projects around the world, including the China Riverfront Yellow River Bridge and Galata Tower, Turkey. Compared to conventional lighting, Philips' architectural lighting offers amazing lighting programs that save up to 75% in energy and combines control systems to reduce operating costs. Spain's commercial real estate services and investment company CBRE Group became the first company to use the new Philips SlimBlend LED luminaires, saving up to 50% energy compared to traditional lighting, improving the working environment of employees and improving employee health. This stylish luminaire can be integrated with lighting systems for offices, retail and hotels, and demonstrates its innovative capabilities in LED products. Philips Hue Entertainment was also launched in the third quarter to further strengthen Philips Hue's position as the world's leading home lighting system. Free software updates available in December synchronize lighting with games, movies and music to improve the end user's entertainment experience. The company has also expanded its partnership with Amazon to provide consumers with a new option, and Philips Home Lighting can easily connect to Amazon's new smart home center Echo Plus. Customers who purchase Echo Plus on the market can use Echo Plus's voice command reception to turn the Philips Hue white light bulb on and off, dim and brighten. Philips Hue has further strengthened its position in China, and JD.com has become a partner of Hue Friends, realizing the integration of Philips Hue and JD.com's DingDong smart home speakers. At the same time, Philips Hue lamps designed for the Chinese market were introduced to meet local needs.
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