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

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