Philips press release (NYSE:PHG): Q4 Non-GAAP EPS of €0.04.
Revenue of €5.1B (-5.6% Y/Y).
Comparable sales growth of 7% in 2023; 3% in Q4, excluding provisions charged to sales, mainly connected with the Respironics consent decree
Comparable order intake was -5% in 2023; -3% in Q4; absolute order book remains strongIncome from operations was EUR -115 million in 2023; EUR 24 million in Q4, including charges of EUR 363 million connected with the Respironics consent decree.
Adjusted EBITA margin increased to 10.5% of sales in 2023; 12.5% in Q4, excluding provisions charged to sales, mainly connected with the Respironics consent decree.
Free cash flow increased to EUR 1,582 million in 2023; increased to EUR 1,128 million in
Q4 Outlook: For full-year 2024, Philips expects to deliver 3-5% comparable sales growth and an Adjusted EBITA margin of 11-11.5%. The free cash flow from Philips’ businesses is expected to amount to EUR 0.8-1 billion. Expects to deliver 3-5% comparable sales growth and Adjusted EBITA margin of 11-11.5% in 2024
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