Philips Half-Year Report 2024

Roy Jakobs, CEO of Royal Philips: “I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong margin improvement, supported by our productivity program, solid operational cashflow due to improved working capital management and comparable sales growth in line with our plan.

Performance improvement was driven by progress on our execution priorities and industry-leading innovations. These included FDA-cleared AI tools within our next-generation cardiovascular ultrasound platform to increase automation and productivity.

We continue to focus on enhancing execution, improving end-to-end supply chain resilience and increasing agility and productivity through simplifying our operating model. Patient safety and quality remains our number one priority.” 

Highlights

• Group sales amounted to EUR 4.5 billion, with comparable sales growth of 2%
• Comparable order intake increased by 9%
• Income from operations EUR 816 million, including EUR 538 million insurance income*)
• Adjusted EBITA margin increased to 11.1% of sales
• Operating cash inflow of EUR 89 million, with a free cash outflow of EUR 64 million