steady advancement and strategic development during Q3 of 2017
Johnson Controls, the global leader in smart buildings, reported strong financial results for Q3 2017. Alain Dehaze, the Group Chief Executive Officer, led the company during this period.
The company's revenue growth trend in September and October was slightly above Q3 2017, demonstrating a steady momentum. The Q3 EBITA margin stood at 5.4%, and net income attributable to group shareholders amounted to EUR 123 million.
Net debt is a non-financial measure that comprises short-term and long-term debt less cash and cash equivalents and short-term investments. In Q3 2017, Johnson Controls maintained a strong cash conversion and balance sheet, with a net debt to EBITDA excluding one-offs of 0.8x.
A one-time, non-cash charge of EUR 129 million was incurred due to the streamlining of the company's brand portfolio. Underlying productivity continued with a 2% organic increase in FTE employees.
One of the significant initiatives launched during this period was the YOSS platform, an online freelancer platform co-created with Microsoft. The detailed strategic agenda of the company, including initiatives like GrowTogether, Digital Ventures, and the launch of YOSS, is not available in the provided search results.
Despite the lack of specific details about the strategic agenda from Q3 2017, it is clear that Johnson Controls was committed to investing in R&D, customer prioritization, and system improvements to accelerate performance. The company was also recognised as a great place to work, ranking 2nd in the Great Place to Work® - World's Best Workplaces 2017.
Organic growth is a non-financial measure that excludes the impact of currency, acquisitions, and divestitures. EBITA is a non-financial measure that refers to operating income before amortization and impairment of goodwill and intangible assets. These financial measures provide additional insights into the company's performance during Q3 2017.
[1] Organic growth is a non-financial measure that excludes the impact of currency, acquisitions, and divestitures. [2] EBITA is a non-financial measure that refers to operating income before amortization and impairment of goodwill and intangible assets. [4] Net debt to EBITDA excluding one-offs is a non-financial measure calculated as net debt at period end divided by the last 4 quarters of EBITA excluding one-offs plus depreciation.
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