Philips delivers strong margin improvement; flat comparable sales due to further deteriorated demand in China; growth in rest of world
Koninklijke Philips N.V. NY Registry Shares (PHG)
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philips.com/a-w/about/investor.html
Company Research
Source: GlobeNewswire
October 28, 2024 Third-quarter highlights Group sales amounted to EUR 4.4 billion, with flat comparable sales growthIncome from operations was EUR 337 millionAdjusted EBITA margin increased by 160 basis points from 10.2% to 11.8% of salesOperating cashflow of EUR 192 million, with a free cashflow of EUR 22 millionComparable order intake decreased by 2%, due to decline in ChinaOutlook 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 o
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PHG
Earnings
- 1/29/24 - In-Line
PHG
Sec Filings
- 10/28/24 - Form 6-K
- 9/3/24 - Form 6-K
- 8/30/24 - Form 6-K
- PHG's page on the SEC website