(CercleFinance.com) – Philips publishes a loss of 824 million euros for the first quarter of 2024, due to a heavy provision announced today to settle a dispute involving its subsidiary Respironics in the United States. United.
In adjusted data, the Dutch medical technology group posted an EBITA margin of 9.4% for a turnover of 4.1 billion euros, up 2.4% on a comparable basis thanks to both to mature and growing areas.
This growth was achieved despite a decline in China, where the market is impacted by anti-corruption measures and depressed household demand. Due to this country, Philips’ order intake decreased by 3.8% on a comparable basis.
Philips nevertheless confirms that it is targeting an adjusted EBITA margin of 11-11.5% and comparable sales growth of 3-5% for 2024, as well as its confidence in its 2025 plan ‘while recognizing that uncertainties remain’.
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