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In percentage terms, the composition of sales growth in 2008, compared to 2007, was as follows:
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Sales growth composition 2008 versus 2007
in %
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Group sales totaled EUR 26,385 million in 2008, a 2% decline compared to 2007. Adjusted for unfavorable currency effects of
3% and a positive net impact from portfolio changes, mainly due to the acquisition of Genlyte and Respironics, comparable
sales were 3% lower than 2007. Excluding the Television business – which we manage for margin rather than scale – Group comparable
sales were in line with 2007.
The decline in comparable sales was mainly due to the severe economic downturn, particularly in the consumer markets. This
was predominantly felt within Consumer Lifestyle, which reported an 8% decline in comparable sales, led by a 12% sales decrease
at Television, as well as lower sales in Audio & Video Multimedia and Peripherals & Accessories.
This decline was partly tempered by 6% comparable sales growth at Healthcare, with higher sales visible in emerging markets
and across all businesses, notably Customer Services, Clinical Care Systems, and Healthcare Informatics and Patient Monitoring.
Additionally, Lighting saw a 3% comparable sales increase, mainly attributable to strong growth in energy-efficient lighting
solutions, partly offset by lower sales in OEM automotive and consumer-related lighting markets.
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