Philips Full-Year Report 2023

Highlights

• Strong sales growth, improved profitability, and very strong cash flow in 2023 through solid execution of our plan to create value with sustainable impact
• Making progress on our three priorities:
• Enhance patient safety & quality
• Strengthen supply chain reliability
• Establish a simplified, agile operating model
• Patient safety & quality remain highest priority across the company; Philips agrees with FDA on terms of consent decree focused on Philips Respironics in the US
• Confident in delivering the plan for 2023-2025 which now takes the consent decree into account and remains unchanged; further performance improvement in 2024