July 24, 2023
Second-quarter highlights
- Group sales increased to EUR 4.5 billion, with 9% comparable sales growth
- Income from operations amounted to EUR 221 million, compared to EUR 11 million in Q2 2022
- Adjusted EBITA increased to EUR 453 million, or 10.1% of sales, compared to EUR 216 million, or 5.2% of sales, in Q2 2022
- Order book continued to grow year-on-year, while comparable order intake declined following a high order intake in Q2 2022
- Operating cash flow improved to EUR 135 million, compared to an outflow of EUR 306 million in Q2 2022
- Simplification of the operating model and restructuring plans on track
- Outlook for full year 2023 raised to mid-single-digit comparable sales growth and an Adjusted EBITA margin at the upper end of the high-single-digit range
Roy Jakobs, CEO of Royal Philips:
“We are progressing to plan on our three priorities to enhance patient safety and quality, strengthen supply chain reliability, and simplify how we work, and I am pleased with our improved operational performance across all segments and geographies in the quarter.
We delivered 9% comparable…
