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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Koninklijke Philips NV | EU:PHIA | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.48 | 2.49% | 19.745 | 19.40 | 19.79 | 19.835 | 19.225 | 19.405 | 2,855,045 | 16:40:00 |
By Ian Walker
Royal Philips NV on Monday reported a swing to a net loss for the second quarter, which it blamed on a number of issues including pandemic-related lockdowns in China, inflationary pressures and the Russia-Ukraine war.
The Dutch health-technology company has cut its full-year comparable sales guidance to 1% to 3% from a previous forecast of 3% to 5%.
Still, the company said it expects to deliver growth and profitability improvement from second half of 2022 onward with comparable sales growth of 4%-6% by 2025.
Philips reported a net loss attributable to shareholders of 22 million euros ($22.5 million) for the quarter, compared with a net profit of EUR150 million a year earlier.
Quarterly sales fell to EUR4.18 billion from EUR4.23 billion, missing analysts' expectations of EUR4.23 billion. On a comparable basis, sales fell 7%, against a consensus estimate for a fall of 5.4%, the company said.
Adjusted earnings before interest, taxes and amortization--a metric that strips out exceptional and other one-off items--was EUR216 million, compared with EUR532 million a year earlier and consensus of EUR324 million, Philips said.
All consensus figures have been taken from the company's website.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 25, 2022 01:39 ET (05:39 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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