Philips increases sales of Green Products by one third to EUR 5.3 billion in 2007

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 this brings to our already-robust product portfolio. I am convinced that Philips’ focus on green business will create economic value for the company as well as for society at large.” Image source: lighting.philips.co.nz. > Continue.

News selected by Covalence | Country: Global | Company: Philips | Source: Philips / Ethical Performance