Q3 2023 results

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Philips delivers strong sales growth, profitability and cash flow; raises full-year outlook

Philips Q3 2023 results

Key data

4.5

billion
EUR

sales

11%

comparable sales growth

10.2%

Adjusted EBITA margin

1.87

billion

lives improved

18.3%

circular revenues

~70,700

employees

Customer and innovation highlights

The innovation that Philips brings to healthcare – often as part of long-term partnerships – is critical, making care delivery more convenient and sustainable.

Multi-year agreement for enterprise monitoring as a service

Philips signed a 10-year, EUR 100 million Enterprise Monitoring as a Service agreement with one of the largest health systems in the US, covering 20 hospitals with over 3,000 beds. The agreement provides the health system with constant access to the latest technology, including software and services, while lowering initial investments.

Image-guided therapy innovation supporting care delivery

Philips launched its new Image Guided Therapy Mobile C-arm System 3000. Its workflow-enhancing features and excellent image quality enable surgeons to deliver enhanced care to more patients, helping alleviate the staff shortages faced by many hospitals.

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Online success for oral healthcare innovation in China

Philips successfully launched the Sonicare DiamondClean 7900 Series electric toothbrush in China on major online shopping channels Alibaba and JD.com. Highlighting increasing customer demand, it claimed the number-one position in the high-end toothbrush category on Alibaba’s Tmall.

Progress towards our goals

Lives improved

At Philips, we are striving to make the world healthier and more sustainable through innovation, with the goal of improving the lives of 2.5 billion people a year by 2030. This includes improving access to care in underserved communities for 400 million people a year.

To ensure we remain on track to achieve this goal, we have developed a model, audited externally, that tells us how many lives have been improved by our products and solutions in a given year.

Download our methodology

1.87

2.5

Lives improved

220

400

Lives improved in underserved healthcare communities

100% sales from green products and solutions ¹

69%

25% sales from circular products and solutions

18.3%

75% operations powered by renewable energy

85%

95% circular materials management ²

92%

100% industrial sites sending zero waste to landfill

100%

5% reduction in water consumption from 2019 level

All data points refer to Q3 2023
¹ We will design 100% of our products and services in line with EcoDesign requirements by 2025² Recycling, reuse and circular materials management of the total used materials

Environmental sustainability targets

Reflecting our commitment to SDG 12 (Sustainable consumption and production) and SDG 13 (Climate action), we have set specific targets – to be achieved by 2025 – to reduce our environmental impact and help fight climate change. Here you can see how we’re progressing towards these goals.

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