Philips : A disappointing Q3, penalised by forex effects and an unfavourable mix
>A Q3 below expectations, hit notably by forex effects - Q3 results, published on Monday, 22 October (see our Equity Flash “Q3 2018 results shy of expectationsâ€) undershot expectations, with organic growth of 4.2% (vs 5.4% forecast by the consensus) and an improvement of 40bp in the adjusted EBITA margin (vs +60bp forecast). The forex effects weighed more than expected (-60bp), due to emerging-market currencies (Turkey, Argentina, notably). This publication caught the...Koninklijke Philips Electronics is active in the markets of healthcare, consumer lifestyle and lighting. Co.'s activities can be divided into three segments: Healthcare (Co. provides Imaging Systems, Patient Care and Clinical Informatics, Home Healthcare Solutions and Customer Services), Consumer Lifestyle (Co.'s products are divided into the following: Health and Wellness; Domestic Appliances; and Lifestyle Entertainment), Lighting (Co. provides lighting solutions for homes, shops, offices, schools, hotels, factories and hospitals; Co. also offers solutions for roads (street lighting and car lights) and for public spaces, residential areas and sports arenas).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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