DOCSLIB.ORG

Annual Report 2000 Management Report Annual Report 2000 • Annual Report Management Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2000 Management Report Annual Report 2000 • Annual Report Management Report Annual Report 2000 Management Report Annual ReportAnnual 2000 • Management Report Management www.philips.com www.investor.philips.com Seizing the opportunities offered by the Internet, we deliver exciting web-enabled products that reflect the dynamic aspirations of the digital age. These include eXpanium, our first CD portable that can play recordable and rewritable CDs with MP3 music as well as regular audio CDs. 9922 130 05015 Annual Report 2000 Management Report Copies of Annual Report 2000 Information sources ReportAnnual 2000 • Non-US shareholders and other non-US interested Investors and financial analysts may contact parties can obtain copies of the Annual Report 2000 Mr A.S. Cathcart, Director of Investor Relations free of charge from: Telephone:31-20-5977222 Royal Philips Electronics Fax: 31-20-5977220 Annual Report Office E-mail: [email protected] P.O. Box 218 5600 MD Eindhoven,The Netherlands US shareholders should direct communications Report Management Fax: 31-40-2786436 concerning share transfers, lost certificates, dividends and change of address to Citibank (see Holders of shares of New York Registry and opposite). Non-US shareholders should contact: other interested parties in the USA can obtain, ABN AMRO free of charge, copies of the Annual Report 2000 Afdeling Uitgevende Instellingen from the Transfer and Register Agent: Kemelstede 2 Citibank Shareholder Services 4817 ST Breda P.O. Box 2502 The Netherlands Jersey City, New Jersey 07303-2502 Telephone:31-76-5799482 www.philips.com www.investor.philips.com Telephone:877-CITI-ADR (toll-free) Fax: 31-76-5799620 Fax: 201-324-3284 E-mail: [email protected] Internet address: Internet address: www.citibank.com/corpbank/adr www.investor.philips.com The Annual Report on Form 20-F is filed electroni- cally with the United States Securities and Exchange Printed in the Netherlands Commission. This Annual Report (Management Report) is printed on Reviva Mega paper, which is made from 50% recycled The Annual Report 2000 is also available in the and deinked waste paper and 50% pulp (bleached original Dutch version, which is the authentic text. without any use of chlorine and fully recyclable). Seizing the opportunities offered by the Internet, we deliver exciting web-enabled products that reflect the dynamic aspirations of the digital age. These include eXpanium, our first CD portable that can play recordable and rewritable CDs with MP3 music as well as regular audio CDs. 9922 130 05015 Seizing the opportunities offered by the Internet, we deliver exciting web-enabled products that reflect the dynamic aspirations of the digital age. These include eXpanium, our first CD portable that can play recordable and rewritable CDs with MP3 music as well as regular audio CDs. Contents This Management Report booklet and the separate 2 Message from the President booklet entitled ‘Financial Statements’ together 7 Key data comprise the full Annual Report for the year 2000 of Koninklijke Philips Electronics N.V. (‘Royal Philips Electronics’) as expressed in euros.The selected 8 Divisional structure 2001 financial information included in this Management Report is derived from the Philips Group’s full annual financial statements including notes.The Business descriptions Financial Statements booklet also contains additional financial information and further 10 Lighting statutory and other information. For a full 14 Consumer Electronics understanding of the results of the Group and the state of affairs, both booklets should be consulted. 24 Domestic Appliances and Personal Care 28 Components 32 Semiconductors 36 Medical Systems 40 Miscellaneous 44 Operating and Financial Review and Prospects 74 Board of Management 75 Group Management Committee 76 Supervisory Board 77 Report of the Supervisory Board Selected Financial Information 79 Introduction 79 Auditors’ report 79 Accounting policies ‘Safe Harbor’ Statement under the Private Securities Litigation Reform Act of 1995 80 Consolidated statements of income of the Philips Group This document contains certain forward-looking 82 Consolidated balance sheets of the Philips Group statements with respect to the financial condition, results of operations and business of Philips and 84 Consolidated statements of cash flows of the Philips Group certain of the plans and objectives of Philips with 86 Consolidated statements of changes in stockholders’ equity respect to these items, in particular the Outlook paragraph of the Operating and Financial Review of the Philips Group and Prospects. By their nature, forward-looking 87 Some key financial information in NLG and USD statements involve risk and uncertainty because they relate to events and depend on circumstances 88 Sales and income per product sector that will occur in the future.There are a number 89 Sales and income per geographic area of factors that could cause actual results and developments to differ materially from those 90 The Philips Group in the last seven years expressed or implied by these forward-looking statements.These factors include, but are not limited to, levels of consumer and business 92 Important dates/Payment of dividend spending in major economies, changes in consumer tastes and preferences, the levels of marketing and promotional expenditures by Philips and its competitors, raw materials and employee costs, changes in future exchange and interest rates (in particular, changes in the euro and the US dollar can materially affect results), changes in tax rates and future business combinations, acquisitions or dispositions and the rate of technical changes. Market share estimates contained in this report are based on outside sources such as specialized research institutes, industry and dealer panels, etc. in combination with management estimates. Contents 1 A sound basis for success In the year 2000, we broke major performance records • Income from continuing operations rose to an all-time high of EUR 9.6 billion (excluding one-time gains, EUR 2.6 billion, 65% up on 1999) • Sales reached a record level of EUR 37.9 billion • Our market value at year-end reached a new high of EUR 50 billion we met the objectives of our four-year program • At 35.7% – excluding one-time gains, 24.2% – we exceeded our RONA target of 24%, up from our 1996 starting point of 4.2% • Earnings growth (excluding one-time gains) of 65%, compared with 70% in 1999 • Over the course of the program we have generated EUR 10.2 billion cash from operations, of which EUR 7.6 billion has been invested in the Company and we took significant steps to advance the Company's long-term interests • We effected a number of divestments, generating cash of EUR 3.6 billion • A total of EUR 3.2 billion was invested in acquisitions designed to exploit new growth opportunities and achieve leadership positions • To encourage investment in our shares, we carried out a 4-for-1 stock split. We also returned EUR 1.7 billion to shareholders in cash, reducing the number of shares by 3%, and we increased the dividend by 20% These steps will help to position Philips as a high-growth technology company with a strong underlying cash flow, delivering sustained healthy returns to its shareholders. Message from the President 2 Message from the President Dear shareholder, I am delighted to say that Philips made a good start to the new millennium. The fruits of the efforts of the past four years are becoming clearer. Benefiting from favorable economic conditions and a strong US dollar, particularly in the first three quarters of the year, all our divisions reported performance improvements in . Our Semiconductors division, for example, turned in a sterling performance, with sales growth of %. And with a reconfigured, highly focused product portfolio, Components posted an improved performance, with income from operations, excluding one-time gains, up more than %. We enjoyed the benefit of strong contributions from unconsolidated companies, including a number of significant one-time gains. In the course of the year we sold % of our shareholding in ASML, resulting in a book profit of . billion. We also realized gains of . billion on our share of the increased equity value of TSMC and . billion on the sale of a portion of our shares in JDS Uniphase. Additionally, in December the exchange of our post-PolyGram Seagram shareholding to Vivendi Universal shares yielded a net gain of approximately . billion, while the merger of Origin and Atos resulted in a gain of . billion. Our income performance was further boosted by strong licensing revenues. We conducted a successful drive to maximize revenues from licenses on our many patents, resulting in a % increase over . We also filed almost , new patent applications, up % on the previous year, securing solid positions in fields which are of vital importance for the future. Sales rose by %, with growth accelerating in Europe, Asia Pacific and Latin America. Improvements in our financial performance like those outlined above have enabled us to regain our credibility within the financial community, completing step of our strategy process. However, in order to go further, we must keep improving our performance, building our profitability, because only by doing so – consistently – will we be able to hold our own in today’s highly competitive market. Strategy for a high-growth future Our objective is to be a high-growth technology company that achieves profitable growth with a strong cash flow and sustainable market leadership positions, thus creating increased shareholder value. With this in mind, we are now addressing the next stages of our strategy process. In step we are moving towards a high-growth portfolio, building a platform for profitable growth. In this respect, we took measures in to realign our Consumer Electronics organization to make it more transparent and flexible and better geared to the demands of the digital era. In step we intend to transform Philips into an ‘industry shaper’. To this end we continue to invest in and exploit our strategic capabilities to the full.
Load more

Recommended publications
  • Business-Driven IT Transformation at Royal Philips
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by AIS Electronic Library (AISeL) Business-Driven IT Transformation at Royal Philips Business-Driven IT Transformation at Royal Philips: Shedding Light on (Un)Rewarded Complexity Teaching Case Martin Mocker Eric van Heck MIT Erasmus University Center for Information Systems Rotterdam School of Management Research, and Burgemeester Oudlaan 50, Reutlingen University Rotterdam 3062PA, Netherlands ESB Business School [email protected] Alteburgstr. 150, 72762 Reutlingen Germany martin.mocker@reutlingen- university.de Abstract In 2013, Royal Philips was two years into a daunting transformation. Following declining financial performance, CEO Frans van Houten aimed to turn the Dutch icon into a “high-performing company” by 2017. This case study examines the challenges of the business-driven IT transformation at Royal Philips, a diversified technology company. The case discusses three crucial issues. First, the case reflects on Philips’ aim at creating value from combining locally relevant products and services while also leveraging its global scale and scope. Rewarded and unrewarded business complexity is analyzed. Second, the case identifies the need to design and align multiple elements of an enterprise (organizational, cultural, technical) to balance local responsiveness with global scale. Third, the case explains the role of IT (as an asset instead of a liability) in Philips’ transformation and discusses the new IT landscape with its digital platforms, and the new practices to create effective business-IT partnerships. Keywords: Organizational transformation, IS platform, enterprise architecture, IT governance, global business processes, process standards, agile software development Thirty Sixth International Conference on Information Systems, Fort Worth 2015 1 Business-Driven IT Transformation at Royal Philips Introduction In late 2013, Royal Philips was two years into a daunting transformation.
    [Show full text]
  • Digital Pathology: the Dutch Perspective
    Digital pathology: The Dutch perspective Paul J van Diest, MD, PhD Professor and Head, Department of Pathology University Medical Center Utrecht PO Box 85500, 3508 GA Utrecht The Netherlands [email protected] Professor of Oncology Johns Hopkins Oncology Center Baltimore, MD, USA Notice of Faculty Disclosure In accordance with ACCME guidelines, any individual in a position to influence and/or control the content of this ASCP CME activity has disclosed all relevant financial relationships within the past 12 months with commercial interests that provide products and/or services related to the content of this CME activity. The individual below has responded that he/she has no relevant financial relationship(s) with commercial interest(s) to disclose: Paul J. van Diest, MD, PhD Disclosures • member of advisory boards of Roche, Sectra, Philips (unpaid) • client of Hamamatsu, Sectra, Visiopharm, Leica, Aurora, Philips (paying heavily) • test scanners from Philips and Roche (no contract, no fee) • joint research projects with Philips UMCU Why The Netherlands? • “bunch-a-crazy dudes” • innovation is our middle name • not bound by too many rules and EU-FDA • strong believe in advantages in digital pathology Advantages of digital pathology • no more case assembly in the lab efficacy • quicker diagnostics efficacy • easy and more accurate measurements and counting patient safety/efficacy • better overview of tissue present patient safety • flagging missing slides patient safety • tracking viewing patient safety • automatic linking of images/reporting/LMS
    [Show full text]
  • Royal Philips First Quarter 2016 Results Information Booklet
    Royal Philips First Quarter 2016 Results Information booklet April 25th, 2016 1 Important information Forward-looking statements This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITA and future developments in our organic business. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, domestic and global economic and business conditions, developments within the euro zone, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, pension costs and actuarial assumptions, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where Philips operates, industry consolidation and competition. As a result, Philips’ actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
    [Show full text]
  • Philips 2017 Annual Report
    Investor Relations 15.1 In 2017, a dividend of EUR 0.80 per common share was Exchange rate (based on the “Noon Buying Rate”) EUR per USD paid in cash or shares, at the option of the shareholder. 2013 - 2017 For 48.3% of the shares, the shareholders elected for a period end average high low share dividend, resulting in the issue of 11,264,163 new 2013 0.7257 0.7532 0.7828 0.7238 common shares, leading to a 1.2% dilution. EUR 384 2014 0.8264 0.7533 0.8264 0.7180 million was paid in cash. See also section 3.5, Proposed 2015 0.9209 0.9018 0.9502 0.8323 distribution to shareholders, of this Annual Report. 2016 0.9477 0.9037 0.9639 0.8684 2017 0.8318 0.8867 0.9601 0.8305 ex-dividend date record date payment date Exchange rate per month (based on the “Noon Buying Euronext Rate”) EUR per USD Amsterdam May 7, 2018 May 8, 2018 June 6, 2018 2017 - 2018 New York highest rate lowest rate Stock Exchange May 7, 2018 May 8, 2018 June 6, 2018 August, 2017 0.8545 0.8316 September, 2017 0.8513 0.8305 October, 2017 0.8636 0.8441 Philips Group November, 2017 0.8638 0.8378 Dividend and dividend yield per common share 2008 - 2018 December, 2017 0.8529 0.8318 January, 2018 0.8388 0.8008 5.1% 4.6% 3.4% 3.3% 3.8% 3.3% 3.4% 2.4% 3.0% 2.8% 2.5% Yield in %1) Unless otherwise stated, for the convenience of the 2) 0.80 0.80 0.80 0.80 0.80 Dividend per reader, the translations of euros into US dollars 0.75 0.75 0.75 0.70 0.70 0.70 share in EUR appearing in this section have been made based on the closing rate on December 31, 2017 (USD 1 = EUR 0.8365).
    [Show full text]
  • A Diagnostic X-Ray Tube with Spiral-Groove Bearings
    Philips Tech. Rev. 44, No. 11/12, 357-363, Nov. 1989 357 A diagnostic X-ray tube with spiral-groove bearings E. A. Muijderman, C. D. Roelandse, A. Vetter and P. Schreiber The technological development of a product usually advances in a series of small steps. But not always - one example is the change from fixed to rotating anodes in diagnostic X-ray tubes in about 1930. This was a development in which Philips played a leading part, largely because of the work of Albert Bouwers'". Since then there has been a steady stream of small improvements in diagnostic X-ray tubes, mostly because problems with limited bearing life and inadequate cooling of the anode have led designers to make modifications. It now looks as though there has been another great leap forward in solving these problems: spiral groove anode bearings lubricated by liquid metal. Introduetion A diagnostic X-ray tube has to deliver a large So that the anode can rotate it must be provided amount of radiation from the smallest possible area with bearings and driven by an electric motor, which of the anode, the 'point focus', in a time of several has to be an induction motor. The anode, the bearings milliseconds to several seconds [11. The quantity of and the rotor of the induction motor are located radiation must be large enough for a sufficient num- inside the evacuated tube. The bearings therefore ber of electrons to be released at the input screen of an have to meet a number of rather special requirements. X-ray intensifier tube [21, or to produce sufficient The lubricant for the bearings must not contaminate blackening in an X-ray-sensitive film after develop- the vacuum of the tube, the bearings must be able to ment.
    [Show full text]
  • Hundred Years Women's Labour in Dutch
    UvA-DARE (Digital Academic Repository) Substitution or segregation: explaining the gender composition in Dutch manufacturing industry 1899-1998 van Klaveren, M.; Tijdens, K.G. Publication date 2001 Document Version Final published version Link to publication Citation for published version (APA): van Klaveren, M., & Tijdens, K. G. (2001). Substitution or segregation: explaining the gender composition in Dutch manufacturing industry 1899-1998. (AIAS working paper; No. 2). Amsterdam Institute for Advanced labour Studies, University of Amsterdam. http://www.uva- aias.net/publications/show/1096 General rights It is not permitted to download or to forward/distribute the text or part of it without the consent of the author(s) and/or copyright holder(s), other than for strictly personal, individual use, unless the work is under an open content license (like Creative Commons). Disclaimer/Complaints regulations If you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons. In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website. Please Ask the Library: https://uba.uva.nl/en/contact, or a letter to: Library of the University of Amsterdam, Secretariat, Singel 425, 1012 WP Amsterdam, The Netherlands. You will be contacted as soon as possible. UvA-DARE is a service provided by the library of the University of Amsterdam (https://dare.uva.nl) Download date:24 Sep 2021 AMSTERDAM INSTITUTE FOR ADVANCED LABOUR STUDIES UNIVERSITY OF AMSTERDAM ROETERSSTRAAT 11, 1018 WB AMSTERDAM SUBSTITUTION OR SEGREGATION: EXPLAINING THE GENDER COMPOSITION IN DUTCH MANUFACTURING INDUSTRY 1899-1998 WP01-02 June 2001 Maarten van Klaveren (STZ Advies en onderzoek, Eindhoven) Kea G.
    [Show full text]
  • Introduction of Philips
    - 48 - Zeitschrift der GCPD e.V. 5 September 1999 Introduction of Philips Lingli Wanga) Philips Electronics Netherlands B. V., Philips Centre for Manufacturing Technology PO Box 218 / SAQ-p, 5600 MD Eindhoven, The Netherlands email: [email protected] 1. Philips, a Global Company Royal Philips Electronics is one of the world's biggest electronics companies and Europe's largest, with sales of US$ 33.9 billion in 1998. It is a global leader in color television sets, lighting, electric shavers, color picture tubes for televisions and monitors, and one-chip TV products. Its 233,700 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, medical systems, business electronics, and IT services (Origin). Philips is quoted on the NYSE, London, Frankfurt, Amsterdam and other stock exchanges. 2. Global Leader Royal Philips Electronics is eighth on Fortune's list of global top 30 electronics corporations. We are active in about 80 businesses, varying from consumer electronics to domestic appliances, and from security systems to semiconductors. We are a world leader in digital technologies for television and displays, wireless communications, speech recognition, video compression, storage and optical products as well as the underlying semiconductor technology that makes these breakthroughs possible. We have world class solutions in lighting, medical systems (particularly scanning and other diagnostic systems) and personal and domestic appliances where our investments in design and new materials are critical to success. Translated into figures, we produce over 2.4 billion incandescent lamps every year, and some 30 million picture tubes; and each day, our factories turn out more than 50 million integrated circuits.
    [Show full text]
  • Farmers and Scientists Introduction 1. the Humus Layer
    Farmers and Scientists Thom Aussems Introduction My cradle stood in Kaatsheuvel. So that made me a boy of Brabant sand. Infertile land that required tremendous effort in order to stave off hunger. Where people worked together to earn a crust. That unmanageable sandy soil tested the character and inventiveness of the people who had to build their future on it. This also turned out to be the cornerstone for the success of the Eindhoven region that emerged from a remarkable transformation as an innovative High Tech region of global significance. More about this later. I believe that I can speak as an expert from experience. After all, I worked elsewhere for twenty years and I can assure you: things are done very differently there. Today, Eindhoven is the engine that drives the Dutch economy. While less than two decades ago, the region had to endure Operation Centurion and the collapse of DAF, barely hanging on by its fingernails. No mean feat, so it is about time that we realised that this was not due to a relatively random series of historical events. I recently heard that an Erasmus University professor attending a symposium about the renaissance of the region Eindhoven labelled it as a ‘fortunate coincidence’. Classic Randstadi arrogance and it most likely comes from the painful acknowledgement that true economic innovation will take place beyond the scope of Fort Holland instead of within its walls from now on. But putting this to one side. Because coincidence or luck has nothing to do with the resurrection of the region. Nor did the Marvel of Eindhoven fall from the heavens through some miracle.
    [Show full text]
  • Operationoysterwwiisforgotten
    Dedication This book is dedicated to all who took part in Operation OYSTER, or who were affected by the raid, on the ground or in the air. It is especially in remembrance of those, both military and civilian, who were killed. Royalties Royalties from the sale of this book will go to the Royal Air Force Benevolent Fund. First published in Great Britain in 2014 by Pen & Sword Aviation an imprint of Pen & Sword Books Ltd 47 Church Street Barnsley South Yorkshire S70 2AS Copyright © Kees Rijken, Paul Schepers, Arthur Thorning 2014 ISBN 978 1 47382 109 5 eISBN 9781473839786 The right of Kees Rijken, Paul Schepers, Arthur Thorning to be identified as the Authors of this Work has been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. A CIP catalogue record for this book is available from the British Library All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical including photocopying, recording or by any information storage and retrieval system, without permission from the Publisher in writing. Typeset in Ehrhardt by Mac Style Ltd, Bridlington, East Yorkshire Printed and bound in the UK by CPI Group (UK) Ltd, Croydon, CRO 4YY Pen & Sword Books Ltd incorporates the imprints of Pen & Sword Archaeology, Atlas, Aviation, Battleground, Discovery, Family History, History, Maritime, Military, Naval, Politics, Railways, Select, Transport, True Crime, and Fiction, Frontline Books, Leo Cooper, Praetorian Press, Seaforth Publishing and Wharncliffe. For
    [Show full text]
  • The Philips Formula
    Feature Philips IP&S The Philips formula Intellectual property has always been important to Philips, the Dutch electronics multinational. But under the inspirational leadership of Ruud Peters, the company’s IP & Standards business group has scaled new heights adapt it as necessary, have been vital By Joff Wild attributes throughout his career and perhaps explain why he has been so successful. It Ruud Peters always wanted to work for was Peters who conceived of Philips IP & Philips. But it was never his intention to get Standards; Peters who persuaded the involved in intellectual property. As a student company’s board to set it up; and Peters he attended university in the Dutch town of who has galvanised his team to deliver ever Delft, where he majored in physics. His plan since. In so doing, Peters has established was to get a job in the Philips labs and make his business as a global IP leader. Not every a career in research and development. company will choose to follow the path The second oil crisis of the 1970s put chosen by Philips IP & Standards in seeking an end to all that, however. Cutbacks at the to maximise IP value, but none should ignore company meant there were no research jobs its story. It is one that involves taking a cost available. Still determined to make his centre at the periphery of corporate thinking career in science, however, Peters decided and turning it into a profit-generating to take the one post at Philips that was on powerhouse at the centre of the action.
    [Show full text]
  • Koninklijke Philips N.V
    Deutsche Bank CORPORATE BANK Depositary Receipts Announcement July 08, 2020 KONINKLIJKE PHILIPS N.V. Please be advised of the following Final DR Stock Distribution information: Depositary Receipt Information CUSIP: 500472303 Contacts Country: Netherlands American Stock Transfer Dividend Type: Stock Tel: +1 (800) 821-8780 Ord Record Date: 01-Jul-20 DR Record Date: 01-Jul-20 Email: [email protected] Ord Payable Date: 07-Jul-20 DR Payable Date: 07-Jul-20 Corporate Actions Ord: DR Ratio: 1 : 1 Web: www.adr.db.com Gwen Minott +1-212-250-6182 Tax Rate: 0.00% Distribution Rate: 2.028516% (1 for 49.2971) Cash in Lieu Rate: $48.2429 Issuance Fee: $0.00 Cash in Lieu Payment Date: 7/9/2020 Koninklijke Philips N.V. maintains its proposed dividend of EUR 0.85 (USD 0.954082) per common share against the net income of 2019. The distribution of this dividend is in shares only, instead of the previously proposed distribution in cash or in shares, as approved at the Extraordinary General Meeting of shareholders held on June 26, 2020. Dividend in shares paid out of net income is in principle subject to a 15% dividend withholding tax, but only in respect of the par value of the shares (which value amounts to EUR 0.20 per share). Shareholders are advised to consult their tax advisor on the applicable situation with respect to taxes on the dividend received. On July 2, 2020 after close of trading on Euronext Amsterdam,the number of share dividend rights entitled to one new common share was determined based on the volume-weighted average price of all traded common shares Koninklijke Philips N.V.
    [Show full text]
  • “A Crisis Can Rally People. It Can Awaken Their Fighting Spirit and Draw Them Closer Together.”
    Leadership Interview “A crisis can rally people. It can awaken their fighting spirit and draw them closer together.” Even such stalwarts of the Dutch economy as Philips are now feeling the effects of the crisis, but CEO and Chairman Gerard Kleisterlee considers himself and his company well placed to successfully deal with the challenge, not just in terms of the Philips product portfolio but also of the inner strengths of the organization. Talking with THE FOCUS, Kleisterlee describes how tough times can have a motivational impact on the workforce. PHOTOS: MARTIN LANGHORST 6 THE FOCUS VOL. XIII/1 9 THE FOCUS VOL. XIII/1 Leadership Interview RESUMÉ Gerard Kleisterlee ON ENTERING THE FOYER of the Breitner Tower – the headquarters of the Philips Group since 2002 and one of the architectural icons of modern Amsterdam – visitors can sense immediately the values that guide the Dutch electronics group today: It is part of a tradition, without being bound by that tradition; it is at home all over the world, while remaining rooted in the Netherlands. The walls display a portrait of Queen Beatrix, painted in an alienated, almost abstract style, alongside an exhibition of contemporary photos taken by Philips employees: scenes of medical treatment from all five continents, from a high-tech intensive care unit to a consultation with the flying doctor in the jungle. And what about the man at the helm? He has a reputation for being confident and decisive, without hankering after public honors. The Focus: Gerard Kleisterlee, how do you keep your “Who is Kleisterlee?” the media worried when people motivated in times of crisis? Is it actually possi- Gerard Kleisterlee took up the reins at Philips in ble, and if so, does it call for different methods than 2001, although in fact he is a dyed-in-the-wool when the going is good? Philips company man.
    [Show full text]