Philips released its second quarter 2012 earnings report. According to the financial report, sales amounted to 5.9 billion euros, a year-on-year increase of 5%, net income of 167 million euros, and profit before interest and tax amortization of 450 million euros.
Driven by double-digit growth in the light source and lighting electronics business, sales in the lighting division increased by 6% year-on-year, and the automotive lighting business achieved nearly 10% growth. LED lighting business sales increased by 37% year-on-year, currently accounting for 20% of the lighting business. The division's profit margin before interest, tax and amortization reached 4.6% in the second quarter.
Driven by double-digit growth in the light source and lighting electronics business, sales in the lighting division increased by 6% year-on-year, and the automotive lighting business achieved nearly 10% growth. LED lighting business sales increased by 37% year-on-year, currently accounting for 20% of the lighting business. The division's profit margin before interest, tax and amortization reached 4.6% in the second quarter.
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