Highlights of Philips ongoing focus on innovation and customer partnerships in the quarter: Demonstrating the trust hospital leaders have in Philips ability to help them enhance health outcomes, lower the cost of care and improve patient and staff experience, the company signed multiple new long-term strategic partnerships across the world. Executing the settlement of the forward contracts entered into as part of the share repurchase program announced on July 26, 2021 at the original settlement dates in 2023 and 2024, instead of in 2022 as earlier announced. The increase was mainly driven by the consolidation of DCP Midstream, Sand Hills Pipeline and Southern Hills Pipeline as a result of the merger. In Chemicals, CPChem is pursuing a portfolio of high-return growth projects: In Refining, Phillips 66 is converting its San Francisco Refinery in Rodeo, California, into one of the worlds largest renewable fuels facilities. Productivity initiatives and other actions to improve performance Philips has initiated general productivity actions, including simplifying the organization to streamline the way of working and reduce operating expenses. March 28, 2022. This news release includes the terms adjusted earnings (loss), adjusted earnings (loss) per share and adjusted pre-tax income (loss). These are non-GAAP financial measures that are included to help facilitate comparisons of operating performance across periods and to help facilitate comparisons with other companies in our industry, by excluding items that do not reflect the core operating results of our businesses in the current period. The ISIN: NL0000009538. Additionally, Philips is urgently implementing several actions to enhance performance and productivity in the supply chain (e.g. The replay of the webcast can be found here . More information about Frans van Houten and Abhijit Bhattacharya, Click here for Mr. van Houten's CV and images, Click here for Mr. Bhattacharya's CV and images. The $111 million decrease mainly reflects a sharp decline in polyethylene margins, partially offset by lower turnaround costs. Additionally, the companys increased economic interest in DCP Midstream, LP allows for further integration and optimization of its NGL business that builds on the companys existing value chain from wellhead to market, creating a platform for enhanced commercial opportunities and value generation. Expansion of capabilities on handheld ultrasound Philips expanded its leading ultrasound portfolio with advanced hemodynamic measurement capabilities on its handheld ultrasound Lumify. In 2012, revenue amounted to 23.46 billion euros,. Third-quarter results reflect a continued favorable market environment, as well as strong operating performance and improved market capture, said Mark Lashier, President and CEO of Phillips 66. To date, approximately 4 million replacement devices and repair kits have been produced. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Presentation All amounts are in millions of euros unless otherwise stated. Philips Respironics continues to make solid progress with the repair and replacement program for the CPAP, BiPAP and mechanical ventilator devices affected by the June 2021 field safety notice, and published encouraging results related to the comprehensive test and research program to assess the possible health risks. *) Non-IFRS financial measure. As disclosed, Philips Respironics is subject to an investigation by the US Department of Justice, is a defendant in several class-action lawsuits and individual personal injury claims, and is in ongoing discussions with the FDA regarding the proposed consent decree. Download this and previous annual reports by simply selecting the year. The Adjusted EBITA margin was 6.2%, mainly due to the decline in sales, cost inflation and an unfavorable mix impact, partly offset by productivity measures. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Philips Respironics continues to make good progress with the comprehensive test and research program to better characterize the possible health risks associated with the sound abatement foam in the affected devices. These events include, but are not limited to, most goodwill impairments, transactions legislatively exempt from income tax, transactions related to entities for which we have made an assertion that the undistributed earnings are permanently reinvested, or transactions occurring in jurisdictions with a valuation allowance. These initial actions are needed to start turning the company around in order to realize Philips profitable growth potential and create value for all our stakeholders. Excluding special items of $2.3 billion, the company had adjusted earnings of $3.1 billion in the third quarter, compared with second-quarter adjusted earnings of $3.3 billion. High- single-digit growth in Image-Guided Therapy was more than offset by a decline in Ultrasound and in Diagnostic Imaging due to electronic component shortages, and on the back of strong growth in these businesses last year. Based on Philips Azurion, this solution enhances the accuracy of biopsy procedures and provides a therapy option to immediately treat early-stage lung cancer patients. Additionally, a further EUR 100 million provision was recorded for potential higher cost of execution and to ensure the speed of the program in a volatile environment. --- Demonstrating the trust hospital leaders have in Philips ability to help them enhance health outcomes, lower the cost of care and improve patient and staff experience, the company signed multiple new long-term strategic partnerships across the world. Q1 2022 First quarter 2022 results conference call audio webcast More information about Frans van Houten and Abhijit Bhattacharya Click here for Mr. van Houten's CV and images Click here for Mr. Bhattacharya's CV and images Visit our interactive results hub for more on our financial and sustainability performance over the past quarter. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. This includes the difficult, but necessary decision to immediately reduce our workforce by around 4,000 roles globally, which we do not take lightly and will implement with respect towards impacted colleagues. Looking ahead to 2023 and beyond, while we continue to see risks and a challenging macro-environment, we expect our supply chain measures to take full effect, resulting in a significant improvement in the conversion of our order book to revenue. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Comparable order intake showed a 24% decrease, on the back of over 260% comparable order intake growth in Q3 2021. Philips Investor Relations Tel:+31 20 59 77055. These fair values are based on market prices, where available, and are obtained from sources that are deemed to be reliable. Our cost savings programs delivered EUR 97 million in the first quarter. The goodwill impairment charge recognized this quarter is due to revisions to the financial forecast of our Sleep & Respiratory Care business within the Connected Care segment. Further information on non-IFRS measures can be found in the Annual Report 2021. Adjusted pre-tax income for Refining was $2.8 billion in the third quarter, compared with adjusted pre-tax income of $3.1 billion in the second quarter. As of Sept. 30, 2022, the company had $10.5 billion of liquidity, reflecting $3.7 billion of cash and cash equivalents, approximately $5.0 billion of total committed capacity under a Phillips 66 revolving credit facility and $1.8 billion under DCP Midstream, LPs credit and accounts receivable facilities. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. Based on these actions, the strong fundamentals of our businesses, and taking our 2022 outlook into account, we now expect to deliver comparable sales growth of 4-6% and an Adjusted EBITA margin of 14-15% by 2025, with further improvement thereafter.. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Business Operations. The relevant subsidiaries are cooperating with the agency. The book-to-bill ratio was 1.18, and the equipment order book grew further in the quarter. By clicking on the link, you will be leaving the official Royal Philips Healthcare ("Philips") website. The company ended the quarter with 473 million shares outstanding. Philips Teile und Zubehr Philips1 April 22nd, 2019 - Ersatzteile fr Computer Dvd Brenner Fernseher Dvd Player Videorecorder Cd Videoplayer Lcdmonitor Computer Monitor Telefaxgert Zubehr . Use of non-IFRS information In presenting and discussing the Philips Groups financial position, operating results and cash flows, management uses certain non-IFRS financial measures. They show a very low prevalence of visible foam degradation, and new and used first-generation DreamStation devices passed volatile organic compound and respirable particulate emission testing. Click here to read moreClick here to read less. Building on Philips leadership in interventional cardiology solutions, the company launched the latest version of its EchoNavigator image-guidance tool, which seamlessly integrates live ultrasound, interventional X-ray imaging and advanced 3D heart models to help interventional teams treat structural heart disease with greater ease and efficiency. The Adjusted EBITA margin amounted to 14.1%. Headquartered in Houston, the company has 14,500. employees committed to safety and operating excellence. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. (, Group sales amounted to EUR 4.2 billion, with a 7% comparable sales decline mainly caused by continued supply shortages and prolonged lockdowns in China, on the back of 9% comparable sales growth in Q2 2021, Order book remains strong; comparable order intake increased 1% and includes a 5 percentage-points negative impact related to China, Income from operations amounted to EUR 11 million, compared to EUR 85 million in Q2 2021, Adjusted EBITA of EUR 216 million, or 5.2% of sales, compared to EUR 532 million, or 12.6% of sales, in Q2 2021, Operating cash flow was an outflow of EUR 306 million, mainly due to temporarily higher inventories, compared to an inflow of EUR 332 million in Q2 2021, In connection with the field action for specific CPAP, BiPAP and mechanical ventilator devices, Philips Respironics has produced 3 million replacement devices and repair kits to date, and published encouraging test results for the first-generation DreamStation devices, Comprehensive measures in place to improve supply chain resilience and pricing; productivity program increased to EUR 500 million per year through 2025, Company has revised full-year 2022 outlook to 1-3% comparable sales growth and around 10% Adjusted EBITA margin, driven by 6-9% comparable sales growth in the second half of 2022, For the 2023-2025 period, Philips has provided a revised performance improvement trajectory of 4-6% average annual comparable sales growth, and an Adjusted EBITA margin of 14-15%, as well as a free cash flow of around EUR 2 billion by 2025. For the full-year 2022, we expect to deliver 1-3% comparable sales growth and around 10% Adjusted EBITA margin. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Risk management chapter included in the Annual Report 2021. Philips Respironics has more than tripled its weekly production output compared to 2020, despite the ongoing global supply chain challenges. The Adjusted EBITA margin was 9.1%, mainly due to the decline in sales and cost inflation. Our pricing and increased productivity measures will expand margins. Following another wave of Philips Respironics comprehensive patient and customer communication outreach and based on current insights, the total expected units to be remediated have increased by approximately 300,000, primarily in the US. Philips signed several agreements in China, including with private hospitals Suzhou Kowloon Hospital and Wuhan Asia Heart Hospital to provide advanced diagnostic imaging and image-guided therapy systems to advance patient care. This highlights the continued progress of Philips strategy in China to drive market-relevant offerings through its local footprint as well as partnerships with the local innovation ecosystem. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Operating cash flow was an outflow of EUR 180 million, mainly due to lower cash earnings, increased inventories and higher consumption of provisions. thaddeus.f.herrick@p66.com. In the second quarter, comparable order intake increased 1% and includes a 5 percentage-points negative impact related to China. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. The Connected Care businesses comparable sales decreased 21%, mainly due to the consequences of the Respironics field action. Further information on non-IFRS measures can be found in the Annual Report 2021. They will be joined by Roy Jakobs, Chief Business Leader Connected Care, and Francis Kim, Chief Quality & Regulatory Officer, who will provide further details on the Respironics field action and on Philips progress and continued efforts around quality, respectively. Following another wave of Philips Respironics comprehensive patient and customer communication outreach and based on current insights, the total expected units to be remediated have increased by approximately 300,000, primarily in the US. Forward-looking statements can be identified generally as those containing words such as anticipates, assumes, believes, estimates, expects, should, will, will likely result, forecast, outlook, projects, may or similar expressions. All reported data is unaudited. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. KONINKLIJKE PHILIPS NV. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. 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