Connect with us

E-Business

Philips Sales, Operational Revenues Hit EUR 6.036 in 3Q2014

Published

on

Philips.jpg
Kindly share this post

Philips has reported third quarter 2014 sales of EUR 5.5 billion and operational results of EUR 536 million, a comparable sales growth flat, with sales in growth geographies up 2%.

The Company said that EBITA, excluding restructuring and acquisition-related charges and other items, amounted to EUR 536 million, or 9.7% of sales, compared to 11.4% in Q3 2013

EBITA amounted to a loss of EUR 7 million, primarily impacted by charges related to IP litigation and the voluntary production suspension at the Cleveland facility.

Net loss of EUR 103 million, compared to net income of EUR 281 million in Q3 2013.

Currencies negatively impacted sales by 1.7% and EBITA by 0.9 percentage points of sales.

Free cash flow of EUR 166 million, compared to EUR 122 million in Q3 2013, while it has started the process of creating two market-leading companies focused to capitalize on the HealthTech and Lighting solutions opportunities

Frans van Houten, chief executive officer of the Company, said that, “The successful execution of our Accelerate! program continues to improve operational performance in most of our businesses. We are very excited by the vast opportunities in the HealthTech and Lighting solutions markets that we will capitalize on with the creation of two dedicated market-leading companies.

“As we manage through a challenging 2014 and given a number of incidentals, we are not satisfied with our overall performance in the third quarter. We are facing sustained softness in a number of markets such as China and Russia. We were also confronted by an adverse jury verdict with a surprisingly high proposed award in the Masimo litigation, which we will appeal. On a positive note, production at our Cleveland facility is ramping up.

In Healthcare, he said, Philips was delighted to win four multi-year strategic contracts, thereby demonstrating that its integrated solutions are gaining momentum despite a very slow market.

“In Consumer Lifestyle, our focus on health and wellness products is yielding good results, as demonstrated by the solid performance of Oral Healthcare and Mother & Child Care, despite challenging conditions in some of our bigger markets. In Lighting, we improved the performance of Consumer Luminaires in Europe and achieved double-digit growth and market share gains in Lumileds, which helped to balance the decline in conventional lighting.

“As a few of the near-term headwinds start to abate and our Accelerate! program continues to improve our operational performance, we expect our adjusted EBITA in the second half of 2014 to be slightly below the adjusted EBITA in the same period last year and we remain committed to our 2016 financial targets.”

Reviewing the Q3 financial and operational, in Healthcare, he said, “We are making good progress in the remediation of the quality management system at our Cleveland facility. We have now also resumed production of the iCT and Ingenuity scanners, and production ramp-up will continue through the first quarter of 2015. This will contribute to improved performance in the fourth quarter and into 2015.

“More broadly, we are seeing good traction with our programs that address government and health system goals of improving population health and delivering quality care more effectively.

“This is illustrated by our new 15-year contract with the Reinier de Graaf hospital in the Netherlands, the 14-year contract with the Karolinska University Hospital and the Stockholm County Council, and the 10-year contract related to the 700-bed Philippine Orthopedic Centre in the Philippines, where our systems and consultancy will help improve operational performance.”

Healthcare comparable sales grew by 1% year-on-year.

The EBITA margin, excluding restructuring costs and various charges, was 12%, a decrease of 2.6 percentage points year-on-year. Currency-comparable equipment order intake declined by 1%.

On Consumer Lifestyle, Houten said, “In Consumer Lifestyle, we are continuing to expand our offering to help consumers make healthier choices every day and drive value from the ‘Internet of Things’. In the third quarter, we introduced a number of digital cloudconnected solutions, including an application to manage chronic pain treatment and an oral healthcare application that helps children to brush their teeth more effectively.

“Consumer Lifestyle comparable sales increased by 5%, with mid-single-digit growth in Health & Wellness and Domestic Appliances and low-single-digit growth in Personal Care. The EBITA margin, excluding restructuring and acquisition-related charges and other items, was 10.6%, compared with 11.1% in the same period last year. The margin decline was attributable to country and product mix”.

The company also launched a series of exciting new products.

On Lighting, the CEO added, “In Lighting, we are solving customer needs with exciting energy-efficient LED solutions, and our breakthrough range of Hue Beyond connected luminaires illustrates how well-positioned we are to drive profitable growth through leading LED innovations, connected ecosystems and professional systems and services. We saw encouraging wins, including a partnership in Indonesia to install LED lighting solutions in nearly 1,000 convenience stores and a contract to deliver LED pitch lighting for Chelsea’s Stamford Bridge stadium in London.”

Lighting comparable sales declined 1% year-on-year. LED-based sales grew by 28%, offset by a decline of 14% in overall conventional lighting sales, among other overviews released on the company’s website.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Business

Firm Identifies RenEngine Loader Distributed Through Pirated Games and Software

Published

on

Kindly share this post

Kaspersky Threat Research has revealed its analysis of RenEngine, a malware loader that has recently gained public attention. Kaspersky identified RenEngine samples as early as March 2025, with its solutions already protecting users from the threat at that time.

Beyond the cracked games highlighted in recent reports, Kaspersky researchers discovered that attackers created dozens of websites distributing RenEngine through pirated software, including graphics editors like CorelDRAW. This expands the known attack surface beyond the gaming community to anyone seeking unlicensed software.

Kaspersky has recorded incidents in Russia, Brazil, Turkey, Spain and Germany, among other countries. The distribution pattern indicates opportunistic attacks rather than targeted operations.

When Kaspersky first identified RenEngine, the loader was delivering the Lumma stealer. Current attacks distribute ACR Stealer as the final payload, and Vidar stealer has also been observed in some infection chains.

The campaign exploits modified versions of games built on the Ren’Py visual novel engine. When users launch infected installers, a fake loading screen appears while malicious scripts execute in the background. The scripts include sandbox detection capabilities and decrypt a payload that initiates a multi-stage infection chain using HijackLoader, a modular malware delivery tool.

“This threat extends beyond pirated games — attackers are using the same technique to distribute malware through cracked productivity software, which broadens the potential victim pool significantly,” said Pavel Sinenko, lead malware analyst at Kaspersky Threat Research. “Game archive formats vary by engine and title. If an engine doesn’t check the integrity of its resources, attackers can embed malware that executes the moment you click play.”

Kaspersky solutions detect RenEngine as Trojan.Python.Agent.nb and HEUR:Trojan.Python.Agent.gen. HijackLoader is detected as Trojan.Win32.Penguish and Trojan.Win32.DllHijacker.


Kindly share this post
Continue Reading

E-Business

Interswitch Partners Abia to Digitise Public Hospitals

Published

on

Kindly share this post

Interswitch, a technology company, through its health-tech subsidiary, Interswitch eClat, has taken a major step in advancing Nigeria’s public-sector health digitisation agenda following the conclusion of a high-level stakeholders’ engagement with the Abia State Government.

The engagement took place ahead of the phased deployment of eClinic, Interswitch eClat’s Electronic Medical Records platform, across public health facilities in the state, the firm stated in a statement on Friday.

The engagement, convened by the Abia State Ministry of Health in collaboration with Interswitch and held at the State’s Ministry of Health in Umuahia, brought together senior government officials, health administrators, Interswitch representatives, and key ecosystem stakeholders to align on the scope, implementation framework, and expected outcomes of the proposed eClinic deployment.

The initiative reflects a shared commitment to leveraging digital infrastructure to improve healthcare delivery, operational efficiency, and patient outcomes across Abia State’s public health system.

Discussions focused on deploying Interswitch’s eClinic solution in alignment with Abia State’s broader healthcare reform agenda under the current administration, particularly the transition from fragmented, paper-based systems to secure, interoperable digital platforms across public health facilities.

The proposed kick-off phase will span six public health facilities, including three primary healthcare centres, two secondary facilities, and one tertiary hospital, creating an end-to-end digital care pathway that strengthens patient referrals, supports continuity of care, and enables data-driven decision-making across all levels of service delivery.

The EMR solution is built to reduce patient waiting times, strengthen referral processes, and ensure the secure handling of both clinical and administrative data, supported by a hybrid infrastructure that enables local hosting with cloud-based backup.

Speaking at the engagement, Prof Enoch Uche, the Commissioner for Health, Abia State, described the initiative as a major milestone in the state’s healthcare transformation journey and highlighted the importance of private-sector collaboration in achieving sustainable impact.

“The Ministry of Health in Abia State is excited about the digitisation of health facilities, starting with Interswitch’s eClinic pilot phase involving three primary, two secondary, and one tertiary health centre. This initiative will enhance efficiency, accountability, and patient care by linking records across different levels of care.

“Global evidence shows that digital health improves access, reduces the cost of care, and maximises human resources while personalising services for our people. This partnership with Interswitch represents a key deliverable for this administration and aligns with the Governor’s vision for a modern, technology-driven health system,” he said.

During technical sessions led by Babatunde Fadeyi, Vice President, Health Ecosystem (Public Sector), Interswitch, stakeholders were taken through the core capabilities of Interswitch’s eClinic platform.

These include secure patient record management, ICD-11–compliant diagnosis coding, controlled data update protocols, and integrated billing and reporting tools designed to improve efficiency and accountability across health facilities.

Stakeholders were also briefed on the platform’s governance framework, risk mitigation approach, and phased implementation roadmap. Commenting on the engagement, Fadeyi reaffirmed Interswitch’s commitment to delivering measurable impact through technology-enabled healthcare systems.

“Abia State has demonstrated a strong commitment to innovation and system reform. The alignment of the state’s healthcare priorities with national health digitisation objectives creates a solid foundation for meaningful progress. Interswitch’s eClinic platform is designed to improve hospital operations by automating workflows, securing patient data, and providing healthcare managers with reliable insights to guide decisions.

“Beyond improving patient experience, it supports stronger revenue tracking, operational efficiency, and accountability. Our focus is to ensure the success of this pilot phase and deliver tangible improvements across productivity, service delivery, and patient satisfaction,” he said.

Also speaking at the engagement, Dr Ifeyinwa Blossom Uma-Kalu, the Permanent Secretary of the Ministry of Health, Abia State, highlighted the operational and clinical value of Interswitch’s eClinic initiative, particularly in strengthening referrals, improving revenue management, and expanding access to specialist care.

“This digitisation initiative will help us track our finances and internally generated revenue more accurately while reducing leakages. More importantly, it strengthens our referral system by allowing patient records to move seamlessly from primary to secondary and tertiary care.

“With a digital framework, healthcare workers in remote communities can access specialist support through telemedicine, helping to save lives and improve outcomes. This is a critical tool in our efforts to reduce maternal and infant mortality, and we are eager to see the outcomes of Interswitch’s eClinic,” she noted.

The engagement also addressed key success factors for the project, including power stability, user training, change management, and inter-agency collaboration, with both parties emphasising sustainability and scalability as the project progresses.


Kindly share this post
Continue Reading

E-Business

WIEG 2026 Summit Shifts to April 22-23 for Maximum Impact

Published

on

Kindly share this post

Organisers of the World International Economic Group (WIEG) 2026 Investment Summit have rescheduled the event to April 22-23, 2026, at Four Points by Sheraton, Oniru, Victoria Island, Lagos, to boost institutional participation, stakeholder alignment, and investment outcomes amid Ramadan considerations.

WIEG 2026 Summit Shifts to April 22-23 for Maximum Impact

WIEG 2026 Summit

A statement from the Summit secretariat attributed the shift to extensive consultations with high-level public and private sector players, including government institutions, development finance partners, industry regulators, sponsors, and sector leaders.

It emphasised the need for additional time post-Ramadan to enable deeper engagement, secure internal approvals, and align with senior executives’ and policy leaders’ calendars.

The rescheduling, described as a “strategic enhancement,” allows for substantive contributions from speakers, panelists, and deal partners while mobilising investment networks and sectoral ecosystems.

The secretariat expressed appreciation to stakeholders whose early commitments underscore the Summit’s credibility in building a transformative platform for Nigeria and Africa.

Unlike conventional conferences, the WIEG 2026 Summit targets high-impact deal-making for a Smart City project and key Nigerian economic sectors, ensuring top-level decision-makers deliver measurable results.

The new dates are expected to expand government-private sector representation, strengthen investor pipelines, boost global delegate turnout, foster policy-investment dialogues, and heighten partnership visibility.

WIEG, registered in 200 countries with headquarters in Malaysia, promotes global partnerships for business opportunities across investment, trade, community development, humanitarian action, and sustainable growth in emerging markets. Its Nigeria chapter is fully registered to coordinate local programmes, investments, and partnerships.


Kindly share this post
Continue Reading

Trending