October 24, 2019

Philips Lumileds New Year's "Changer" Challenges New Areas of Lighting

[High- tech LED reporter report] Philips Lumileds announced today that it has appointed Pierre Yves Lesaicherre as CEO of Philips Lumileds, and the appointment is effective immediately. Mr. Lesaicherre will replace Michael C. Holt's work and report directly to Frans van Houten, Acting CEO of Philips Lighting.

Frans van Houten said: "Pierre Yves has a wealth of experience at NXP Semiconductors. Prior to joining the company, he served as senior vice president and general manager of the microcontroller and logic business unit, and he will lead Philips Lumileds into the new field of lighting. The ideal candidate.” He added: “I believe that Pierre Yves will promote the performance of Philips Lumileds and actively participate in shaping the rapidly changing LED lighting market.”

Van Houten said: "At the same time, I would like to thank Mike Holt, the first CEO of Lumileds. For more than a decade, he led the company to invent and launch high-power LEDs to open a new lighting segment."

Group revenue lower than expected

On October 18, 2011, the third quarterly report released by Philips showed that the company achieved 6% sales growth, but the profit before interest and tax amortization (EBITA) fell from 11.8% in the third quarter of 2010 to the first in 2011. 6.8% in the third quarter, also slightly lower than the second quarter of 2011. Although LED business grew by 32%, driving the lighting business to achieve 8% growth, but due to sales and R & D investment, increased raw material costs and the poor performance of Philips Lumileds and home lighting business led to a decline in revenue.

Recently, according to foreign media reports, due to the impact of the European market on consumer lighting and medical equipment demand, the company's fourth quarter net profit may decline by 45%. In a recent statement issued by Philips, the company’s net profit (EBITDA) before interest, taxes, depreciation and amortization in the fourth quarter will fall to about 500 million euros (about 640 million US dollars), lower than The same period of the year was $913 million. Philips once again reiterated the company's 2013 performance target. According to the plan, Philips will release the full fourth quarter earnings report at the end of this month.

Affected by the global LED industry downturn in 2011, before this, a number of international LED upstream chip manufacturers have significantly lowered their 2011 revenue expectations.

Increase lighting investment

On the other hand, Philips frequently played in 2011.

On June 24, 2011, Philips and Ziyang City of Sichuan held the signing ceremony of the “Profit Letter of Strategic Cooperation of Philips Ziyang LED Industrial Base”.

In October 2011, Philips invested 40 million euros to set up an OLED production line in Aachen, Germany, which will make OLEDs become mainstream lighting technology by the end of 2012. At that time, the price of OLED components will also drop to 10-20 euros.

On December 15, 2011, Philips (China) Investment Co., Ltd. and Chengdu Municipal Government formally signed a strategic cooperation agreement, announced the investment in the Philips LED professional lighting project in the high-tech zone, and the production of Philips brand outdoor and indoor LED lamps in Chengdu.

“In the past few years, we have invested a lot in R&D in the field of LED lighting. In the future, we will be able to generate revenue from LED intellectual property.” Philips CEO Wan Hao said that by 2012, Philips’ green products will account for the total profit. 30% of profits (15% in 2006); investment in green innovation doubled, that is, increased to 1 billion euros.

Marriott, who officially became the CEO of Philips in April 2011, previously developed a net profit increase of 10% to 12% before the company's interest, taxes, depreciation and amortization in 2013, and revenue growth of 4% to 6 %The goal.

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