And then my final question is for you, Roy, on China, having just visited there this past week. It'd be great to get an update on how you feel the behavior on the ground is. And I guess as you think about your sales in China and your orders in China in the back half of the year, what are your expectations for each of those when it comes to return to growth and the timing of that? Veronika, let me take the first couple of questions. I think if you look at the -- for Q3, we had really dramatic growth last yea ...

Would you pay 22 times free cash flow for a stock growing at only 4%? Koninklijke Philips (PHG 12.98%) stock surged 14.5% through 10:05 a.m. ET Monday after the company reported strong earnings this morning. Analysts had forecast the Dutch medical devices company would earn $0.27 per share on sales of $4.8 billion, according to data from Yahoo! Finance. Philips' sales of 4.5 billion euros roughly matched that prediction. Net earnings were 452 million euros -- about 0.48 cents per share -- which works out to ...

Earnings and Financial Performance - Philips reported second-quarter earnings with comparable sales rising 2% year-over-year, driven by solid demand globally despite a sales drop in China [2][3] - Total sales for the quarter were EUR 4.46 billion ($4.82 billion), meeting analysts' estimates [2] - Net income was EUR 452 million, slightly below the EUR 460.4 million analysts had projected [2] - The company achieved strong margin improvement and solid operational cash flow due to improved working capital management [4] Market Reaction and ADR Performance - Philips' American depositary receipts (ADRs) surged 14% to $29.31 as of 10 a.m. ET Monday [6] - ADRs have risen 30% year-to-date [6] - In late April, Philips ADRs jumped 27% in one day following the announcement of a $1.1 billion settlement related to sleep apnea device issues [1][5] Guidance and Outlook - Philips affirmed its full-year guidance, projecting 3% to 5% comparable sales growth [5] - The company expects free cash flow to be between EUR 900 million and EUR 1.1 billion for the fiscal year [5] - Despite acknowledging uncertainties, Philips remains optimistic about its growth prospects, particularly in China, which it describes as a "fundamentally attractive growth market" [3][5] CEO Commentary - Philips CEO Roy Jakobs highlighted the company's ability to achieve strong margin improvement and operational cash flow within a challenging macro environment [4] - He emphasized the success of the company's productivity program and working capital management [4]

Shares pared gains slightly to trade up 7.83% by 8:25 a.m. London time. Shares of Dutch device maker Philips jumped more than 8.5% in early deals Monday after the company reported better-than-expected second-quarter earnings. The Philips office building in Warsaw, Poland, on July 29, 2021. Comparable group sales rose 2% to 4.5 billion euros ($4.88 billion), as demand in North America held strong, even as China sales dipped. The company's comparable order intake over the three-month period grew by 9%. ...

Second-quarter highlights "I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong margin improvement, supported by our productivity program, solid operational cashflow due to improved working capital management and comparable sales growth in line with our plan. We continue to focus on enhancing execution, improving end-to-end supply chain resilience and increasing agility and productivity through simplif ...

July 29, 2024 Group sales amounted to EUR 4.5 billion, with comparable sales growth of 2% Comparable order intake increased by 9% Income from operations EUR 816 million, including EUR 538 million insurance income*) Adjusted EBITA margin increased to 11.1% of sales Operating cash inflow of EUR 89 million, with a free cash outflow of EUR 64 million "I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong ma ...

The partnership provides access to the latest Philips monitoring innovations, including a scalable patient monitoring platform that integrates patient data and provides vital insights. It will standardize patient monitoring for BSMH's 49 hospitals, reducing costs through a predictable payment model and enabling further reinvestment in innovation. "This collaboration is part of our commitment to drive improved healthcare quality while reducing costs and addressing healthcare issues facing entire communities, ...

July 17, 2024 Amsterdam, the Netherlands, and Cincinnati, Ohio – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology and Bon Secours Mercy Health (BSMH), one of the nation's largest Catholic health systems, today announced a multi-year strategic collaboration for patient monitoring. Putting BSMH clinicians in control, the collaboration will reduce the digital burden on staff and give them more time to spend with patients. "This collaboration is part of our commitment to drive improved ...

The SENSE XL Torso coils, designed for 1.5T and 3.0T MR scanners, are 16-element, receive-only coils used for imaging the torso and abdomen. Each coil includes a back part, a front part, and a connection box, and they operate independently without combining with other coils. These coils help produce diagnostic images that can be interpreted by trained physicians. Significance of the Recall In November, Philips recalled certain MRI scanners due to the risk of explosion, despite only one reported incident in ...

More information is available here. Dorin Danu Philips Investor Relations Tel.: +31 20 59 77055 E-mail: dorin.danu@philips.com Forward-looking statements Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that it has completed the cancellation of 4,437,164 of its shares. The cancelled shares were acquired as part of the completed EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021. Ben Zwirs Philips External Relations Tel ...