Philips Q1 Report 2023

2023 financial outlook: Adj. EBITA margin : Productivity and pricing actions to improve margins across businesses. Inflation impact ~3%

Quarterly Performance.

• Sales growth driven by Diagnosis & Treatment and Hospital Patient Monitoring
• OIT grew DD in Diagnosis & Treatment offset by a decline in Connected Care
• Good momentum for health systems in China in sales and orders
• Adj. EBITA margin driven by sales and productivity, partly offset by cost inflation
• Operating Cash inflow step up of EUR 429 million year-on-year
• EUR 575 million provision in anticipation of a resolution of the economic loss class action in the US