philips-third-quarter-results-2021-presentation
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Press release
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ottobre 18, 2021 - Philips
Philips' Third-Quarter Results 2021
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Philips' Third-Quarter Results 2021
Philips delivers Q3 sales of EUR 4.2 billion, with a 7.6% comparable sales decline due to headwinds; income from continuing operations increases to EUR 442 million, and Adjusted EBITA margin amounts to 12.3%.
Philips sees continued strong demand driving double-digit order intake growth in Q3.
Third-quarter highlights
- Group sales totaled EUR 4.2 billion, reflecting a 7.6% comparable sales decline due to headwinds caused by global supply chain challenges and Sleep & Respiratory Care recall consequences
- Comparable order intake increased 47%; order intake increased 17% excluding the impact of a partial ventilator order cancellation in Q3 2020
- Income from continuing operations increased to EUR 442 million, compared to EUR 279 million in Q3 2020
- Adjusted EBITA of EUR 512 million, or 12.3% of sales, compared to EUR 684 million, or 15.5% of sales, in Q3 2020
- Operating cash flow of EUR 256 million, compared to EUR 575 million in Q3 2020
- Domestic Appliances divestment was completed as planned, resulting in a EUR 2.5 billion gain after tax and transaction-related costs; reported in Discontinued Operations
Frans van Houten, CEO:
“I am pleased with the strong double-digit comparable order intake growth in the third quarter, driven by both the Diagnosis & Treatment businesses and Connected Care businesses. Our strategy and portfolio are highly relevant to our customers, as we help them transform the delivery of care along the health continuum. Building on this strength, we have signed an additional 19 long-term strategic partnerships with hospitals across the world, including a 10-year partnership with Baptist Health in the US to provide patient monitoring solutions and standardize care across the network.
We recorded EUR 4.2 billion sales in the quarter, with a 7.6% comparable sales decline on the back of 10% comparable sales growth last year. This quarter’s sales were impacted unfavorably by intensified global supply chain issues, such as the shortage of electronic components, and the anticipated revenue consequences of the sleep recall, as we are prioritizing the remediation of affected devices in use by patients. The Adjusted EBITA margin was 12.3%.
Further information in the press release to download
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