Delivers strong sales growth, improved profitability, and strong cash flow in 2023 through solid execution of first year of 2023-2025 plan
Agrees with FDA on terms of consent decree focused on Philips Respironics in the US, providing clarity and a roadmap to demonstrate compliance and to restore the business
Reiterates confidence in delivering the 2023-2025 plan; further performance improvement in 2024

FY and Q4 Group performance highlights

Group sales amounted to EUR 18.2 billion in 2023; EUR 5.1 billion in Q4
Comparable sales growth of 7% in 2023; 3% in Q4, excluding provisions charged to sales, mainly connected with the Respironics consent decree*
Comparable order intake was -5% in 2023; -3% in Q4; absolute order book remains strong
Income from operations was EUR -115 million in 2023; EUR 24 million in Q4, including charges of EUR 363 million connected with the Respironics consent decree
Adjusted EBITA margin increased to 10.5% of sales in 2023; 12.5% in Q4, excluding provisions charged to sales, mainly connected with the Respironics consent decree*
Free cash flow increased to EUR 1,582 million in 2023; increased to EUR 1,128 million in Q4
Restructuring and productivity plan on track, with savings of EUR 956 million in 2023; EUR 271 million in Q4
Proposed dividend maintained at EUR 0.85 per share, to be distributed in shares
Philips expects to deliver 3-5% comparable sales growth and Adjusted EBITA margin of 11-11.5% in 2024

* See table below
Metrics affected by provisions charged to sales

FY 2023 Q4 2023
Sales - as reported in millions of EUR 18,169 5,062

Comparable sales growth - excluding provisions charged to sales 1) 7% 3%
Comparable sales growth 6% (1)%
Adjusted EBITA margin - excluding provisions charged to sales 1) 10.5% 12.5%
Adjusted EBITA margin 10.6% 12.9%

1) Excluding provisions charged to sales of EUR 174 million in Q4 2023 mainly in connection with the Respironics consent decree.


Roy Jakobs, CEO of Royal Philips:

“Our strong results in 2023 were driven by solid execution of the first year of our three-year plan to create value with sustainable impact. While there is more work to be done, the progress we achieved in a volatile world lays a solid foundation for sustained performance.

Patient safety and quality remain Philips’ highest priority across the company. Resolving the consequences of the Respironics recall for our patients and customers is a key focus area and I acknowledge and apologize for the distress and concern caused. We are fully committed to complying with the consent decree, which is an important step and provides a clear path forward.

We saw strong growth throughout the year based on the actions we have taken to improve supply chain reliability and simplify our organization. Our order book is strong, and we are focused on improving order intake. Our new operating model enabled more effective ways of working across the company, and drove significant productivity improvements.

We continue to partner with many healthcare systems around the world, supporting them to become more efficient, and addressing their resourcing and productivity challenges with our AI-powered innovations. This includes our newly launched next-generation ultrasound systems, and our unique mobile MRI system with helium-free operations.

We are confident in our plan to help consumers lead healthy lives and healthcare providers deliver efficient, high-quality care to patients in a sustainable way. Based on our ongoing actions to enhance execution, we expect further performance improvement in 2024.” see & read more on
https://www.philips.com/a-w/about/news/archive/corpcomms/news/press/2024/philips-fourth-quarter-results-2023.html

tijd 09.07
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tijd 13.15
Philips ligt in de hoek waar de klappen vallen, maar in Nederland is de Vereniging van de Slaap apparaten niet zo bang. In Nederland zijn nog weinig fouten gemeld, dit hoorden wij via de radio. De Amerikanen schroeven de "Angst factor zo hoog op, dit doet ons teruggaan naar Delft Instruments met de "Nachtkijkers in het verleden"! Dat werd de "dood steek voor het Bedrijf. Nu ziet wij dezelfde mogelijkheid voor Philips. Philips kocht het Slaap apparaten bedrijf in de VS en Nu vermoeden wij dat zij het Philips bedrijf voor een Koopje terug willen kopen. Philips EUR 19,576 -1,47 vol. 3,1 milj.