Koninklijke Philips Electronics NV reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported sales of EUR 7,161 million compared to EUR 6,712 million a year ago. Loss from operations was EUR 79 million compared to income from operations of EUR 262 million a year ago. Loss before taxes was EUR 98 million compared to income before taxes of EUR 191 million a year ago. Loss after taxes was EUR 157 million compared to income after taxes of EUR 112 million a year ago. Net loss from continuing operations was EUR 350 million compared to net income from continuing operations of EUR 112 million a year ago. Net loss attributable to the shareholders of the company was EUR 358 million compared to EUR 162 million a year ago. Diluted net loss attributable to shareholders per common share was EUR 0.17 compared to EUR 0.39 a year ago. Net cash provided by operating activities was EUR 1,209 million compared to EUR 1,189 million a year ago. Purchase of intangible assets was EUR 14 million compared to EUR 18 million a year ago. Expenditure on development assets was EUR 95 million compared to EUR 72 million a year ago. Capital expenditures on property plant and equipment were EUR 214 million compared to EUR 181 million a year ago. LBIT was EUR 79 million compared to EBIT of EUR 262 million a year ago. EBITA was EUR 50 million compared to EUR 503 million a year ago. At the end of the fourth quarter of 2012, the company had net debt of EUR 700 million, compared to EUR 713 million at the end of fourth quarter of 2011. EBITA was significantly impacted by the fine imposed by the European Commission related to the CRT business. Adjusted EBITA was EUR 875 million or 12.2% of sales in the quarter, compared to EUR 582 million or 8.7% for the fourth quarter of 2011. The improvement in the adjusted EBITA was due to improved performance across the group. The improvement in cash from operations was mainly due to lower inventories resulting in lower working capital and higher cash earnings.

For the year, the company reported sales of EUR 24,788 million compared to EUR 22,579 million a year ago. Income from operations was EUR 1,030 million compared to loss from operations of EUR 269 million a year ago. Income before taxes was EUR 784 million compared to loss before taxes of EUR 509 million a year ago. Income after taxes was EUR 476 million compared to loss after taxes of EUR 792 million a year ago. Net income from continuing operations was EUR 476 million compared to net loss from continuing operations of EUR 792 million a year ago. Net income attributable to the shareholders of the company was EUR 226 million compared to net loss attributable to the shareholders of the company of EUR 1,295 million a year ago. Diluted net income attributable to shareholders per common share was EUR 0.24 compared to diluted net loss attributable to shareholders per common share of EUR 0.39 a year ago. Net cash provided by operating activities was EUR 2,198 million compared to EUR 768 million a year ago. Purchase of intangible assets was EUR 39 million compared to EUR 69 million a year ago. Expenditure on development assets was EUR 347 million compared to EUR 278 million a year ago. Capital expenditures on property plant and equipment were EUR 675 million compared to EUR 653 million a year ago. EBIT was EUR 1,030 million compared to LBIT of EUR 269 million a year ago. EBITA was EUR 1,502 million compared to EUR 1,680 million a year ago.

The company proposed dividend at EUR 0.75 per share.