News

Philips Raises Guidance for 2023 After Strong Q2 Sales

1 Mins read

Royal Philips, the Dutch health-technology company, has announced an upward revision of its guidance for 2023 following a rise in second-quarter group sales. While the company’s order book continued to grow compared to the previous year, comparable order intake experienced a decline after a particularly high intake in Q2 of 2022.

In the second quarter of this year, sales reached €4.47 billion ($4.97 billion), up from €4.18 billion during the same period last year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to €681 million, driven by increased sales, royalty income, and productivity measures. However, these gains were partly offset by cost inflation. Income from operations also experienced a significant increase, reaching €221 million compared to €11 million in the same period last year.

Looking ahead, Philips expects mid-single-digit comparable sales growth and an adjusted EBITDA margin at the upper end of the high-single-digit range for 2023. It is worth noting that these projections do not account for the ongoing discussions regarding a proposed consent decree beyond current assumptions, ongoing litigation, or the U.S. Department of Justice investigation related to the Respironics field action.

This increase in guidance reflects Philips’ continued commitment to innovation and growth in the health-technology sector. As the company moves forward, it strives to overcome any potential challenges and maintain its position as a leader in the industry.

Related posts
News

Risk mitigation

4 Mins read
Asian economies should cooperate to jointly lower their overreliance on dollar-denominated assets The economic and trade policies implemented by the current administration…
News

Cloud mining revolutionizes the way to increase the value of crypto assets: Ripplecoin Mining allows XRP, BTC, and Solana holders to achieve daily income | Business Upturn

3 Mins read
Weston, Massachusetts, July 16, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market continues to fluctuate, more and more investors are looking for…
News

Republicans declared it 'crypto' week in the House. It's not going as planned

1 Mins read
WASHINGTON (AP) — A trio of cryptocurrency bills that had been expected to pass the House this week stalled on Tuesday after…

Leave a Reply

Your email address will not be published. Required fields are marked *