Philips(PHG) - 2022 Q4 - Annual Report

SEC Filing Information Koninklijke Philips N.V.'s Form 6-K filing details with the SEC, covering registrant information and report authorization Filing Details (Form 6-K, Registrant) This section details the filing of Form 6-K by Koninklijke Philips N.V. (Royal Philips) with the SEC, specifying its jurisdiction of incorporation and principal executive offices - Koninklijke Philips N.V. filed Form 6-K with the SEC on February 21, 2023[1] - The registrant is a foreign issuer from The Netherlands[1] Report Content and Authorization The Form 6-K comprises a press release titled "Philips publishes its Annual Report 2022" and is duly signed by the Chief Legal Officer - The report includes a press release titled "Philips publishes its Annual Report 2022", dated February 21, 2023[3] - The report was signed on behalf of Koninklijke Philips N.V. by M.J. van Ginneken, Chief Legal Officer, on February 21, 2023[3] Press Release: Philips Publishes Annual Report 2022 Announcement of Philips' 2022 Annual Report, covering performance, executive remuneration, and access details Annual Report Publication Announcement Royal Philips announced the publication of its Annual Report 2022 on February 21, 2023, to be discussed at the upcoming AGM - Royal Philips published its Annual Report 2022 on February 21, 2023[4] - The Annual Report 2022 will be on the agenda for the Annual General Meeting of Shareholders (AGM) scheduled for May 9, 2023[4] 2022 Performance and Strategic Actions Philips acknowledged 2022 as a "very disappointing year" and is implementing urgent actions to enhance patient safety, quality, and performance - Philips described 2022 as a "very disappointing year" for the company and its stakeholders[5] - The company is taking firm actions to strengthen patient safety and quality, improve execution, and step up performance with urgency in 2023[5] Executive Remuneration Decisions The Supervisory Board and Board of Management waived all 2022 Annual Incentive pay-outs and 2020 Long-term Incentive grants due to disappointing performance - The 2022 Remuneration Report addresses shareholder sentiment and feedback received after the 2022 AGM[6] - Due to Philips' 2022 performance and stakeholder sentiment, the Supervisory Board and Board of Management waived all 2022 Annual Incentive (AI) pay-outs[7] - The vesting of the 2020 Long-term Incentive (LTI) grant for Board of Management members was also waived[7] Access to Annual Report The Annual Report 2022 is available in ESEF format with the AFM, will be filed on Form 20-F with the U.S. SEC, and accessible online - Philips filed the Annual Report 2022 with the Netherlands Authority for the Financial Markets (AFM) in European Single Electronic Format (ESEF)[8] - The company expects to file the report on Form 20-F with the U.S. Securities and Exchange Commission (SEC) later on the same day[8] - The Annual Report 2022 is available online at www.results.philips.com, and printed copies can be obtained free of charge via email request[9] About Royal Philips (Company Profile) Royal Philips is a leading health technology company focused on improving health and well-being through innovation, generating EUR 17.8 billion in sales in 2022 - Royal Philips is a leading health technology company focused on improving health and well-being through meaningful innovation[10] - The company provides personal health solutions for consumers and professional health solutions for healthcare providers, leveraging advanced technology and clinical/consumer insights[10] Royal Philips 2022 Key Figures | Metric | Value | | :----- | :---- | | 2022 Sales | EUR 17.8 billion | | Employees | Approximately 77,000 | | Global Presence | Sales and services in over 100 countries | Forward-Looking Statements Disclaimer This section provides a standard disclaimer regarding forward-looking statements, noting inherent risks and uncertainties that could cause actual results to differ - The release contains forward-looking statements regarding Philips' financial condition, results of operations, business, and plans[11] - These statements inherently involve risk and uncertainty, as future events and circumstances could cause actual results to differ materially[11]