Philips emphasizes ‘all-time-high order book’
By HME News Staff
Updated 2:13 PM CDT, Mon April 25, 2022
AMSTERDAM, the Netherlands – Philips reported group sales of EUR 3.9 billion for the first quarter of 2022, with a 4% decline on the back of 9% growth in the same quarter last year.
The company says comparable order intake increased 5%, driven by the Diagnosis & Treatment and Hospital Patient Monitoring businesses.
“Our customers confirm the relevance of our strategy and portfolio, as evidenced by the further growth of our all-time-high order book,” said Frans van Houten, CEO of Royal Philips. “In addition, we partnered with 12 more hospitals to help them transform the deliver of care, further building on the 80 new long-term strategic partnerships signed in 2021. 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.”
Philips says comparable sales for the Connected Care business, which includes its CPAP devices, decreased 21%, mainly due to the consequences of the Respironics field action.
The company says income from continuing operations was a loss of EUR 152 million for the first quarter of 2022 compared to a loss of EUR 34 million in the same period last year.
It says adjusted EBITDA was EUR 243 million or 6.2% of sales vs. 9.5% of sales.
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