Royal Philips NV (PHIA), the world’s biggest lightbulb maker, will buyback 1.5 billion euros ($2 billion) of shares and Chief Executive Officer Frans Van Houten pledged to extend an efficiency drive to bolster margins. The maker of scanners, electric toothbrushes and lighting set a target for cumulative annual sales growth of 4 percent to 6 percent from 2014 to 2016, with an earnings before interest, taxes and amortization margin of 11 percent to 12 percent. That compares with a previous target of 10 percent to 12 percent.
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