Philips Lighting’s annual report reveals that sales were roughly flat at €8.4 billion ($11.5 billion) in 2013 but up three per cent when excluding currency movement and acquisitions.
Profit amounted to €695 million ($955 million), or 8.3 per cent of the total sales.
Twenty-nine per cent of total sales in Philips’ lighting division were made up of LED products last year, up from 22 per cent in 2012. In the final quarter of 2013, the figure hit 34 per cent.
‘These achievements are a testimonial of our long-standing belief that sustainability is a key enabler of value creation and offers substantial opportunities to innovate and grow, even in the current challenging economic circumstances’, said Jim Andrew, Philips’ chief strategy and innovation officer.
LED chips and car lights are reported to have done well with double-digit sales figures, while consumer luminaires saw a single-digit fall.
Around seventy per cent of Philips Lighting’s total sales is now made up of what Philips calls ‘green products’, which offer improvements in energy efficiency, packaging, recycling, disposal and lifetime reliability.
In 2013, Philips Lighting invested €327 million ($450 million) in the development of LED technology. The company has recently partnered with telecoms provider Ericsson to combine intelligent street lighting with mobile network coverage, and launched a smart retail lighting system that communicates with customers through a smartphone app.