Philips delivers strong margin improvement; flat comparable sales due to further deteriorated demand in China; growth in rest of world [Financial Post (Toronto, Ontario, Canada)]
Bentley Systems, Incorporated - Class B (BSY)
Company Research
Source: Financial Post
Third-quarter highlights Group sales amounted to EUR 4.4 billion, with flat comparable sales growth Income from operations was EUR 337 million Adjusted EBITA margin increased by 160 basis points from 10.2% to 11.8% of sales Operating cashflow of EUR 192 million, with a free cashflow of EUR 22 million Comparable order intake decreased by 2%, due to decline in China Outlook for full-year 2024 revised to reflect deteriorated demand in China: comparable sales growth within an updated range 0.5%-1.5%, Adjusted EBITA margin at around 11.5%, the upper end of current range; free cashflow at around EUR 0.9 billion, at lower end of current range Roy Jakobs, CEO of Royal Philips: “In the quarter, demand from hospitals and consumers in China further deteriorated, while we continue to see solid growth in other regions. We have adjusted our full-year sales outlook to reflect the continued impact from China. Strong improvement in profitability was driven by progress on our execu
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BSY
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- 11/7/24 - Beat
BSY
Sec Filings
- 11/13/24 - Form 4
- 11/13/24 - Form SC
- 11/12/24 - Form SC
- BSY's page on the SEC website