by
Thomas Dworetzky, Contributing Reporter | August 29, 2018
In April, Philips reported a five percent jump in comparable sales growth, racking up
more than $4 billion (€3.9 billion) in sales for the first quarter of 2018.
“We improved our operational profitability by 1.3 percent,” Steve Klink, head of Philips’ Group Press Office, told HCB News at the time. “We had a good ten percent order intake growth. So overall good results, particularly driven by our diagnosis and treatment business. Combined, they grew a very strong nine percent. Overall, we are completely on track in terms of our guidance for the period of 2017-2020.”
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Second quarter numbers shared in July
were also good.
“In the second quarter, we delivered 4 percent comparable sales growth, a strong 9 percent order intake growth, and a solid 100 basis points improvement in operational performance driven by our growth and productivity programs,” van Houten said in a statement at the time, adding, “I am pleased with the continued strong performance improvement of the Diagnosis & Treatment businesses, driven by the breadth of our innovative product portfolio, which resulted in 8 percent comparable sales growth and double-digit order intake growth. At the same time, I am encouraged by the mid-single-digit order intake growth of the Connected Care & Health Informatics businesses. After a slow start, the Personal Health businesses gained momentum in the quarter, and we expect this to continue in the second half of the year.”
During the quarter, Philips also announced a pair of multi-year agreements with Clinics of Cologne and Munich Municipal Hospital for medical imaging solutions to support precision diagnosis and therapy, innovation, and productivity improvements. “We also signed a seven-year agreement with the governments of the Netherlands and Ethiopia to design, build and equip Ethiopia’s first specialized Cardiac Care Center for state-of-the-art diagnosis and treatment of cardiac diseases,” said van Houten.
Targets for 2017–2020 are still on track, he advised, including a 4-6 percent comparable sales growth and an average annual 100 basis points improvement in Adjusted EBITA margin.
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