By Ian Walker

 

Koninklijke Philips N.V. (PHIA.AE) Friday set a medium-term target of 4%-6% comparable sales growth a year, as it transforms into a focused HealthTech firm.

Philips is also targeting a 100 basis point improvement in adjusted earnings before interest, taxes and amortization on average per year for the next three to four years and expects to improve the return on invested capital to the mid-to-high teens based on its organic growth plan.

The company said it expects to generate 1 billion euros ($1.11 billion) to EUR1.5 billion in cash annually.

"The businesses in our HealthTech portfolio are strong and have the right fundamentals for sustained profitable growth," Chief Executive Frans van Houten said.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

November 04, 2016 04:00 ET (08:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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