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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Koninklijke Philips N.V.    PHIA   NL0000009538

KONINKLIJKE PHILIPS N.V.

(PHIA)
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Koninklijke Philips N : Turkish consortium could snap up Philips' appliances division - Sabah

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05/22/2020 | 09:18am EDT
Dutch health technology company Philips presents the company's financial results for the fourth quarter in Amsterdam

A group of Turkish business associations is looking to buy the household appliances operations of Dutch healthcare equipment maker Philips in a plan supported by Ankara, Turkish newspaper Sabah said on Friday.

Philips said in January it was looking to separate the household appliances arm, which makes vacuum cleaners and coffee machines and had $2.6 billion in sales in 2019.

Spokesman Steve Klink said the company is still in the process of disentangling the operations, a process expected to take 12-18 months.

"We would only expect to engage ...(with potential buyers) after the summer," he said.

The Turkish group includes five leading organisations in the business world: the Foreign Economic Relations Board (DEIK), exporters' assembly TIM, the chambers and commodity exchanges union (TOBB) and business associations TUSIAD and MUSIAD, Sabah reported.

"We as Turkey are the most powerful country in production between Germany and China. Hence an economic model must be created by the Turkish business world forming consortiums and buying global brands," said DEIK board member Murat Kolbasi.

Sabah quoted him as saying Trade Minister Ruhsar Pekcan had expressed support for the project.

(Additional reporting by Toby Sterling in Amsterdam;Writing by Daren Butler; Editing by Elaine Hardcastle and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
KONINKLIJKE PHILIPS N.V. 0.31% 40.915 Delayed Quote.-6.27%
US DOLLAR / TURKISH LIRA (USD/TRY) -0.04% 6.8032 Delayed Quote.14.68%
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Financials
Sales 2020 19 832 M 22 065 M 22 065 M
Net income 2020 1 365 M 1 518 M 1 518 M
Net Debt 2020 3 360 M 3 739 M 3 739 M
P/E ratio 2020 28,3x
Yield 2020 2,17%
Capitalization 35 629 M 39 609 M 39 641 M
EV / Sales 2019
EV / Sales 2020 1,97x
Nbr of Employees 80 495
Free-Float 99,3%
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Koninklijke Philips N.V. Technical Analysis Chart | PHIA | NL0000009538 | MarketScreener
Technical analysis trends KONINKLIJKE PHILIPS N.V.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 43,75 €
Last Close Price 40,79 €
Spread / Highest target 34,8%
Spread / Average Target 7,27%
Spread / Lowest Target -14,2%
EPS Revisions
Managers
NameTitle
Frans van Houten Chief Executive Officer
Jeroen van der Veer Chairman-Supervisory Board
Sophie Bechu Chief Operating Officer & Executive Vice President
Abhijit Bhattacharya Chief Financial Officer & Executive Vice President
Jan Kimpen Chief Medical Officer
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