Koninklijke Philips NV (XAMS:PHIA)
€ 24.81 -0.06 (-0.24%) Market Cap: 23.12 Bil Enterprise Value: 29.57 Bil PE Ratio: 0 PB Ratio: 1.95 GF Score: 70/100
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Q2 2024 Koninklijke Philips NV Earnings Call Transcript

Jul 29, 2024 / 08:00AM GMT
Release Date Price: €27.21 (+14.62%)

Key Points

Positve
  • Strong order intake growth of 9% in Q2, indicating robust demand.
  • Comparable sales growth of 2% across all business segments.
  • Adjusted EBITDA margin improved by 100 basis points to 11.1%.
  • Solid operational cash flow and productivity improvements.
  • Positive outlook for the second half of 2024, with expected order intake growth.
Negative
  • Free cash flow outflow of EUR64 million due to Respironics economic loss settlement.
  • Decline in orders from China due to industry-wide anti-corruption measures.
  • Personal Health segment in China down by 10%, with subdued consumer sentiment.
  • High effective tax rate for the full year 2024 due to derecognition of deferred tax assets.
  • Uncertainty in the macroeconomic environment, impacting overall business performance.
Unidentified Company Representative

Hi, everyone. Welcome to Philips' second quarter and half year 2024 results webcast. I'm here with our CEO, Roy Jakobs; and our CFO, Abhijit Bhattacharya. The press release and investor deck were published on our Investor Relations website this morning. The replay and full transcript of this webcast will be made available on the website after the call as well.

Before we start, I want to draw your attention to our Safe Harbor statement on screen. You will also find a statement in the presentation published on our Investor Relations website. Roy, over to you.

Roy Jakobs
Koninklijke Philips NV - Chairman of the Board of Management, Chief Executive Officer

Good morning, everyone, and welcome. Great to be with you today. I want to start with the key highlights of this morning's release. We delivered strong order integral this quarter. When in a challenging macroeconomic environment, we achieved strong margin improvement, supported by a productivity program.

Solid operational cash flow and comparable sales growth in line

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