Philips increases sales of Green Products by one third to EUR 5.3 billion in 2007
Significant increase in Green Product sales carried across all three Philips sectors
Increase supports Philips’ EcoVision4 program which aims to double sales from Green Products by 2012
Philips’ 10th Sustainability Report further details performance in key sustainability areas
Amsterdam, The Netherlands - Royal Philips Electronics (AEX:PHI, NYSE:PHG) announced that it achieved a 33% increase in sales of Green Products in 2007, as published in the company’s 10th annual Sustainability Report today. All three Philips sectors – Healthcare, Lighting and Consumer Lifestyle - showed a significant increase in sales of Green Products in 2007, resulting in total Green Product sales of EUR 5.3 billion in 2007, compared with EUR 4 billion in 2006.
In September 2007, Philips announced its EcoVision4 program aiming to double sales of Green Products to 30% of total revenues within five years. Philips is well on its way to achieving this target, with Green Product sales accounting for 20% of total Philips sales in 2007, compared with 15% in 2006.
Barbara Kux, member of the Group Management Committee and Chair of the Sustainability Board said: “We are delighted that Green sales now already represent 20% of our total revenue and that we grew Green sales by as much as 33% in 2007. All our sectors performed better in this area, and we are particularly pleased with the significant increases in sales of Green Products in the Healthcare and Consumer Lifestyle sectors and the further balance and opportunity this brings to our businesses in established as well as emerging markets. Philips’ focus on green business will create economic value for the company as well as for society at large.”
Philips continued its steady advance in energy efficient lighting solutions with an increase in Green Lighting sales of 17%. The biggest increase was in the home lighting market followed closely by lighting solutions for retail outlets and street lighting as well as LED lighting. Philips’ CosmoPolis street lighting system, for instance, has been installed in many cities in Europe and Asia since its introduction in 2005 and cuts energy consumption by 50%.
Sales of Green Healthcare Products increased by 35% boosted in particular by the MRI scanner range as well as patient monitors. The Philips MRI scanner Achieva 3.0T X-series for instance shows a reduction of the environmental impact of the product by 32% compared to previous models. A new market introduction that has also proven its green credentials is the Philips IntelliVue MMS X2 Patient Monitor that consumes 52% less energy during use.
The Consumer Lifestyle sector reaped the benefits of a drive over the last year to improve the energy efficiency of its products across the board, showing a very significant increase of 91% in sales of Green Products.
Examples are the Cineos Soundbar with Ambisound, which uses 50% less energy than its closest competitor, and the energy efficient LCD TV range of which some models use 36% less energy than closest competitors.
Philips Green Products offer a significant environmental improvement in one or more of the Philips Green Focal Areas: energy efficiency, packaging, hazardous substances, weight, recycling and disposal, and lifetime reliability, compared to similar products on the market.
Philips’ fourth EcoVision program, launched in September 2007, sets ambitious targets to double sales of Green Products to 30% of total revenues by 2012, to invest EUR 1 billion in Green Innovation and to improve the energy efficiency of offices and production facilities by 25% in the next five years.
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