April 26, 2018 / 5:28 AM / in 7 months

BRIEF-Philips Lighting Q1 Sales down at 1.5 Billion Euros

April 26 (Reuters) - PHILIPS LIGHTING NV:

* REG-PHILIPS LIGHTING REPORTS FIRST QUARTER SALES OF EUR 1.5 BILLION AND OPERATIONAL PROFITABILITY OF 7%

* Q1 NET INCOME OF EUR 20 MILLION (Q1 2017: EUR 61 MILLION)

* Q1 SALES EUR 1.5 BILLION VERSUS EUR 1.57 BILLION IN REUTERS POLL

* FOR 2018 WE AIM TO IMPROVE OUR ADJUSTED EBITA MARGIN FROM 9.6% TO 10.0-10.5%

* Q1 ADJUSTED EBITA EUR 106 MILLION VERSUS EUR 129 MILLION IN REUTERS POLL

* EXPECT TO BENEFIT FROM HIGHER SAVINGS AS OF SECOND HALF OF 2018

* AIM TO DELIVER POSITIVE COMPARABLE SALES GROWTH FOR FULL YEAR ON BASIS OF A STRONG SECOND HALF

* EXPECT TO GENERATE SOLID FREE CASH FLOW IN 2018

* SOLID FREE CASH FLOW IN 2018, WHICH IS, HOWEVER, EXPECTED TO BE SOMEWHAT LOWER THAN LEVEL IN 2017 DUE TO HIGHER RESTRUCTURING PAYMENTS. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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