Profit at the EBITDA level was €370m, ahead of analysts' expectations of €304m. The EBITA margin declined to 7.1 per cent of sales, from 9.5 per cent a year ago, with the increase in margin in healthcare being offset by lower margins in consumer lifestyle and lighting.
MANOJ LADWA | ETX CAPITAL
These numbers highlight the difficulties even multi-nationals are having under tough conditions. While the company seems to be pulling out all stops to revive its fortunes, given the tough economic backdrop, investors are likely to ask: is this is enough to halt the decline?
TOM MULLER | THEODOOR GILISSEN BANKIERS
The buyback programme and the clear mid-term goals are positive, as earnings are going to be under pressure for a while.