Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

Philips provides update on its financial performance in Q3 2019

Posted by fidest press agency su sabato, 12 ottobre 2019

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today provided an update on the third quarter 2019 financial results for the Group, which will be reported on October 28, 2019.
Group sales for the quarter are expected to amount to approximately EUR 4.7 billion, reflecting a strong 6% comparable sales growth with all businesses contributing. Comparable order intake growth in the quarter is expected to be flat on the back of strong 11% growth in the third quarter of 2018.Group Adjusted EBITA for the quarter is expected to be around EUR 583 million, or 12.4% of sales, compared to 13.2% in Q3 2018. The continued Adjusted EBITA margin improvement of the Diagnosis & Treatment and Personal Health businesses was more than offset by a 4.5 percentage point decline in the Adjusted EBITA margin of the Connected Care businesses (to 11.3% of sales), and a shortfall of around EUR 20 million of license income in the segment Other.
Philips has delivered three consecutive years of at least 100 basis points annual Adjusted EBITA improvements. Given the overall significant headwinds and the underperformance of the Connected Care businesses, we expect that the full year 2019 Adjusted EBITA margin improvement for the Group will be 10 to 20 basis points. For 2020, we expect to deliver a 4-6% comparable sales growth and an Adjusted EBITA margin improvement of around 100 basis points.”
Net income from continuing operations is expected to amount to approximately EUR 210 million in the quarter, which will include a charge of EUR 78 million related to a goodwill impairment in Connected Care.

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