Q3 2024 results

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Philips delivers strong margin improvement; flat comparable sales due to further deteriorated demand in China; growth in rest of world

Three healthcare professionals in scrubs and masks around a piece of Philips equipment that hangs above a patient in a bed

Philips Q3 2024 results

Key data

4.4

billion
EUR

sales

comparable sales growth

11.8%

Adjusted EBITA margin

1.94

billion

lives improved

24.7%

circular revenues

~69,300

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.

Two healthcare providers in scrub face a monitor at a patient’s bedside

Treating patients closer to home

Carilion Clinic in the US will expand cardiac care access through 11 specialized Philips interventional suites that allow physicians to treat patients with complex cardiovascular conditions closer to home using platforms including the Azurion Image Guided Therapy System and EPIQ CVx cardiology ultrasound system with AI capabilities.

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AI-powered technology to give parents peace of mind

Philips launched the AI-powered Avent Premium Connected Baby Monitor, which offers cry translation and SenseIQ technology to track sleep, breathing, and movements, giving parents peace of mind.

A baby sleeps on its back in a crib, and the image is enhanced to show how a monitor perched at its bedside is tracking the baby’s movements

An extreme close-up of a surgeon’s face shows them wearing a mask and protective eyewear, the latter reflecting an image from a patient monitor

Giving doctors enhanced vision during minimally invasive surgeries

Philips secured FDA approval for its new LumiGuide Navigation Wire, which uses fiber optic technology to reduce radiation for both patients and physicians during minimally invasive surgery.

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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

1.94

2.5

Lives improved

238

400

Lives improved in underserved healthcare communities

100% sales from green products and solutions ¹

66%

25% sales from circular products and solutions

24.7%

75% operations powered by renewable energy

85%

95% circular materials management ²

94%

100% industrial sites sending zero waste to landfill

100%

5% reduction in water consumption from 2019 level

All data points refer to Q3 2024
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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