Philips achieved a 33 per cent increase in sales of green products in 2007, according to the firm's annual Sustainability Report.
The company's healthcare, lighting and consumer lifestyle sectors saw sales of €5.3bn in 2007, compared with €4bn in 2006.
Philips announced its fourth EcoVision programme in September aiming to double sales of green products to 30 per cent of total revenues within five years.
The results suggest that green products accounted for 20 per cent of Philips' sales in 2007 compared with 15 per cent in 2006.
"We are delighted that green sales now represent 20 per cent of our total revenue and that we grew green sales by as much as 33 per cent in 2007," said Barbara Kux, chairman of Philips' Sustainability Board.
"All our sectors performed better in this area, and we are particularly pleased with the significant increases in sales of green products in the healthcare and consumer lifestyle sectors."
Green healthcare products rose by an impressive 35 per cent, boosted in particular by the MRI scanner range and patient monitors.
Philips' energy efficient lighting products saw an increase in sales of 17 per cent across all segments including home lighting, retail outlets, street and LED lighting.
The consumer lifestyle sector reaped the biggest benefits of a drive over the past year to improve the energy efficiency of its products across the board, showing an increase of 91 per cent in sales of green products.
Philips' range of green products consider all aspects of environmental impact, including energy efficiency, packaging, hazardous substances, weight, recycling and disposal and lifetime reliability.
The company's EcoVision programme also provides for an investment of €1bn in green innovation and improvement of the energy efficiency of offices and production facilities by 25 per cent in the next five years.
