Philips delivers Q1 sales of EUR 3.9 billion, with good demand driving 5% compar… – Press Release

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April 25, 2022

First-quarter highlights

  • Group sales amounted to EUR 3.9 billion, with a 4% comparable sales decline on the back of 9% comparable sales growth in Q1 2021
  • Comparable order intake increased 5%, driven by the Diagnosis & Treatment businesses and Hospital Patient Monitoring
  • Income from continuing operations amounted to a loss of EUR 152 million, compared to a loss of EUR 34 million in Q1 2021
  • Adjusted EBITA of EUR 243 million, or 6.2% of sales, compared to 9.5% of sales in Q1 2021
  • Operating cash flow was an outflow of EUR 227 million, compared to an inflow of EUR 321 million in Q1 2021
  • Philips provides update on Philips Respironics field action related to specific CPAP, BiPAP and mechanical ventilators

Frans van Houten, CEO of Royal Philips:
“Our customers confirm the relevance of our strategy and portfolio, as evidenced by the further growth of our all-time-high order book. Comparable order intake growth for the Group amounted to 5%, driven by good growth across the Diagnosis & Treatment businesses, as well as Hospital Patient Monitoring and Connected Care Informatics. In addition, we partnered with 12 more hospitals to help them transform the delivery of care, further building on the 80 new long-term strategic partnerships signed in 2021. In China, we signed an agreement with Shanghai East Hospital to provide its hospitals in the Shandong and Hainan provinces with a broad range of advanced imaging and critical care solutions. I am also pleased with the 8% comparable sales growth for our Personal Health businesses, which demonstrates continued strong consumer demand for our propositions enabling people to take care of their health and well-being.

Thanks to the hard work of our people, we recorded better than expected sales of EUR 3.9 billion in very challenging circumstances, with significant supply chain headwinds as well as the consequences of the Respironics field action. Adjusted EBITA margin for the Group was 6.2% in the quarter.

The strong customer demand…

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