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1、Philips delivers growth,improved profitability,and strong cash flow in Q4 and 2024;continues solid execution of its three-year plan Amsterdam,February 19,2025Full Year and Q4 Group performance highlights Sales of EUR 18.0 billion in 2024,comparable sales growth 1%;EUR 5.0 billion in Q4,comparable sa

2、les growth 1%,despite double-digit decline in China Comparable order intake increased 1%in 2024;up 2%in Q4,despite double-digit decline in China Income from operations was EUR 529 million in 2024;EUR 199 million in Q4 Adjusted EBITA margin increased 90 basis points to 11.5%of sales in 2024;up 60 bas

3、is points to 13.5%in Q4 Net cash flow from operating activities was EUR 1,569 million in 2024;EUR 1,459 million in Q4 Free cash flow was EUR 906 million in 2024;EUR 1,285 million in Q4 Finalized Philips Respironics recall-related medical monitoring and personal injury settlements in US Proposed divi

4、dend maintained at EUR 0.85 per share,in shares or cash Increased productivity savings target for 2023-2025 from EUR 2 billion to EUR 2.5 billion,EUR 800 million in 2025 Outlook for 2025 publishedRoy Jakobs,CEO of Royal Philips:“We delivered better care for more people by enhancing execution and foc

5、using on driving improvements in profitability and cash flow,as well as order and sales growth.We strengthened our fundamentals and resolved significant US litigation relating to the Respironics recall.Despite double-digit declines in demand in both consumer and health systems in China,we returned t

6、o positive order growth and continued to drive margin expansion and cash-flow generation.With our strong balance sheet we are pleased to offer shareholders the option to receive the dividend in shares or cash.Within a persistently challenging macro environment,our focus remains on executing our valu

7、e creation plan,bringing industry-leading innovations to the market and driving a simplified,more agile operating model.We strengthened our team and culture of impact with care,with patient safety and quality as our number one priority.Looking ahead,we remain confident in our long-term plan and will

8、 continue to work closely with customers as we build on our strong innovation pipeline and focus on execution excellence to drive profitable growth.Quarterly Report 2024-Q41Quarterly reportQ4 2024Group and segment performanceComparable order intake increased 2%in the quarter,with strong performance

9、in the North America and Growth geographies,partly offset by a double-digit decline in demand in China.Group comparable sales increased 1%in the quarter,with solid growth of 5%in the rest of the world,largely offset by a double-digit decline in China,where market conditions are expected to remain un

10、certain.Adjusted EBITA increased 60 basis points to 13.5%in Q4,driven by operational improvements and productivity measures.Free cash flow increased to EUR 1.3 billion in the quarter,driven by Respironics insurance proceeds,partly offset by phasing in working capital.For the full year,comparable ord

11、er intake and sales increased 1%,up 4%excluding China.Adjusted EBITA increased 90 basis points to 11.5%and free cash flow was EUR 0.9 billion.Diagnosis&Treatment comparable sales decreased 1%in Q4,due to a double-digit decline in China,offsetting solid growth elsewhere.Adjusted EBITA margin was 12.1

12、%in Q4,driven by productivity,mix and pricing.For the full year,the Diagnosis&Treatment businesses recorded 1%comparable sales growth,on the back of 11%growth in 2023,and an Adjusted EBITA margin of 11.6%.Connected Care comparable sales increased 7%in Q4,on the back of a low comparison base.Adjusted

13、 EBITA margin was 15.0%in Q4,in line with last year.For the full year,the Connected Care businesses recorded a 2%comparable sales increase and an Adjusted EBITA margin of 9.6%.Personal Health comparable sales decreased 2%in Q4 due to a double-digit decline in China,more than offsetting a strong perf

14、ormance elsewhere.Adjusted EBITA margin was 18.0%in Q4,including lower sales in China.For the full year,Personal Health comparable sales decreased 1%and the Adjusted EBITA margin was 16.7%.Innovation highlights FDA clearance of the Philips CT 5300,featuring AI-based reconstruction software to reduce

15、 radiation dose and improve image quality,and of the Philips Spectral CT 7500 RT,enabling personalized radiation therapy planning.Expansion of Philips strategic collaboration with Amazon Web Services to offer an integrated diagnostics portfolio in the cloud,such as AI advanced visualization solution

16、s that unify diagnostic workflows,improve access to critical insights,and drive better outcomes across clinical specialties,including radiology,digital pathology and cardiology.Philips and Mayo Clinic will collaborate using their proprietary AI technologies to target breakthroughs in ease-of-use and

17、 efficiency to bring high-quality diagnostic MRI and better care to patients with heart disease.Philips also announced partnerships with Hpital Fondation Rothschild in Paris for imaging platforms and health informatics and with Erasmus Medical Center in Rotterdam for ultrasound solutions and service

18、s.Together with its clinical partners,Philips continues to advance minimally invasive procedures to treat patients based on new technologies and methods,enrolling the first patients in the THOR clinical trial,which integrates two critical peripheral artery disease treatments into a single device.Ach

19、ieving a significant milestone in the WE-TRUST clinical trial,Philips has now included one-third of the targeted 564 patients to evaluate how a new imaging method could impact workflow and improve outcomes for stroke patients.Philips renewed its mid-range Sonicare electric toothbrushes,Series 5000-7

20、000,in Europe and launched new localized products in China,including the On-The-Go Compact Shaver,which earned a top ranking for new product sales from leading online retailer JD.com.Peer-reviewed life cycle assessment results were published in the leading sector publication Radiology,following clos

21、e collaboration between the Vanderbilt University Medical Center radiology department and Philips.The analysis underscores the importance of joining forces to tackle significant operational and sustainability challenges,such as reducing the cost of care and reducing carbon footprint.Leadership and c

22、ulturePhilips is strengthening its culture of impact with care,acting with integrity with patient safety and quality as the number one priority.Philips continues to simplify its operating model,with end-to-end Businesses holding single accountability,supported by leaner central Functions and strong

23、customer-facing organizations in the Regions and countries.Since the start of the three-year plan,75%of executive hires across the company have come from a health technology background.Recent appointments to the Executive Committee include leaders for Precision Diagnosis,International Region,and Gre

24、ater China Region,plus a new Chief Financial Officer on the Board of Management.ProductivityProductivity initiatives are ahead of plan and delivered savings of EUR 163 million in Q4:operating model savings of EUR 47 million,procurement savings of EUR 56 million,and other programs savings of EUR 59 m

25、illion.Since 2023,productivity initiatives have delivered savings of more than EUR 1.7 billion.Philips is raising its productivity savings target for the 2023-2025 period from EUR 2 billion to EUR 2.5 billion,driven by cost efficiencies and further simplification of its operating model,with EUR 800

26、million to be delivered in 2025.Quarterly Report 2024-Q42OutlookPhilips remains focused on successfully executing its three-year plan to drive operational improvements and create value with sustainable impact,within a challenging macro environment.For 2025,Philips expects:1%-3%comparable sales growt

27、h,including a mid-to high-single-digit decline in China Adjusted EBITA margin increasing 30-80 bps to 11.8%-12.3%Free cash flow before payment of the USD 1.1 billion cash-out relating to the US medical monitoring and personal injury settlements will be at the lower end of the range of EUR 1.4 billio

28、n to EUR 1.6 billion.Net of this cash-out,free cash flow will be EUR 0.4 billion to EUR 0.6 billion.We anticipate comparable sales growth to be back-end-loaded in the year,with a mid-single-digit decline in Q1 mainly due to lower demand in China and royalties phasing,with correspondingly lower Adjus

29、ted EBITA margin.The outlook includes the impact of the recently announced US-China tariffs.It excludes ongoing Philips Respironics-related legal proceedings,including the investigation by the US Department of Justice.Respironics RecallIn December 2024,Philips Respironics obtained final approval for

30、 the recall-related medical monitoring settlement,and in February 2025,the personal injury settlement became final following a successful registration process.The aggregate amount of the settlements is USD 1.1 billion;payment is expected in the first half of 2025.Capital allocationPhilips intends to

31、 submit to the 2025 Annual General Meeting of Shareholders a proposal to declare a dividend of EUR 0.85 per common share,in shares or cash at the option of the shareholder,with a maximum of 50%of the total dividend distribution to all shareholders being available for payment in cash.If more than 50%

32、of the total dividend is requested by the shareholders to be paid out in cash,those shareholders who have chosen to receive their dividend in cash will receive their cash dividend on a pro-rata basis,the remainder being paid out in shares.Conference call and video webcastRoy Jakobs,CEO,and Charlotte

33、 Hanneman,CFO,will host a conference call for investors and analysts at 9:00 am CET today to discuss the full year 2024 results.A live webcast of the conference call will be available on the Philips Investor Relations website and can be accessed here.About Royal PhilipsRoyal Philips(NYSE:PHG,AEX:PHI

34、A)is a leading health technology company focused on improving peoples health and well-being through meaningful innovation.Philips patient-and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and profess

35、ional health solutions for healthcare providers and their patients in the hospital and the home.Headquartered in the Netherlands,the company is a leader in diagnostic imaging,ultrasound,image-guided therapy,monitoring and enterprise informatics,as well as in personal health.Philips generated 2024 sa

36、les of EUR 18 billion and employs approximately 67,800 employees with sales and services in more than 100 countries.News about Philips can be found at Report 2024-Q43Fourth quarter highlightsPhilips performanceKey data in millions of EUR unless otherwise statedQ4 2023Q4 2024Sales5,0625,044Nominal sa

37、les growth(7%)0%Comparable sales growth(1%)1%Comparable order intake (4%)2%Income from operations24199as a%of sales%4%Financial income(expenses),net(92)(75)Investments in associates,net of income taxes(26)(9)Income tax(expense)benefit132(449)Income from continuing operations38(333)Net income38(333)E

38、arnings per common share(EPS)Income from continuing operations attributable to shareholders(in EUR)-diluted0.04(0.36)Adjusted income from continuing operations attributable to shareholders(in EUR)-diluted0.400.51Net income attributable to shareholders(in EUR)-diluted0.04(0.36)EBITA106393as a%of sale

39、s 2.1%7.8%Adjusted EBITA653679as a%of sales 12.9%13.5%Adjusted EBITDA896905as a%of sales 17.7%17.9%1Non-IFRS financial measure.Refer to theReconciliation of non-IFRS information 2Effective Q1 2024,Philips has revised the order intake policy for the software businesses.Refer to Forward-looking statem

40、ents and other important information.3Comparable order intake is presented when discussing the Philips Groups performance.For the definition of this measure,refer to chapter 13.6,Other Key Performance indicators,of the Annual Report 2023.4Shareholders refers to shareholders of Koninklijke Philips N.

41、V.Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares for the share dividend with respect to 2023Comparable sales increased by 1%,including a double-digit decline in China.Growth was driven by Connected Care while the Diagnosis&Treatm

42、ent and Personal Health segments showed a decline,mainly due to lower demand from consumers and health systems in China.Income from operations increased to EUR 199 million,mainly driven by higher gross margin,operational improvements,lower Respironics consent decree charges and field action running

43、costs,partly offset by higher impairment charges in relation to intangible assets.Adjusted EBITA increased to EUR 679 million and the margin improved to 13.5%,mainly driven by operational improvements and productivity measures.Restructuring,acquisition-related and other items amounted to EUR 286 mil

44、lion,compared with EUR 548 million in Q4 2023.Q4 2024 includes EUR 118 million restructuring and acquisition-related charges,EUR 92 million related to quality actions,EUR 48 million Respironics consent decree charges,and EUR 26 million Respironics field-action running costs.Income tax expense increa

45、sed by EUR 581 million year-on-year,due to de-recognition of deferred tax assets in the US and higher income before tax in Q4 2024,as well as the recognition of historical tax credits in Q4 2023.Net income decreased,mainly due to higher tax expenses,partly offset by higher gross margin and lower res

46、tructuring,acquisition-related charges and other items.Quarterly Report 2024-Q44Amounts may not add up due to roundingSales per geographic area1 in millions of EUR unless otherwise stated%changeQ4 2023Q4 2024nominalcomparableWestern Europe1,1631,223 5%6%North America2,0042,092 4%6%Other mature geogr

47、aphies408427 5%6%Mature geographies3,5753,742 5%6%Growth geographies1,4861,302(12%)(9%)Philips Group5,0625,044 0%1%1Sales per geographic area is reported based on country of destination.2Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationComparable sales in Mature geographi

48、es showed mid-single-digit growth with strong contributions from all Regions.Growth geographies decreased by 9%as a result of the double-digit decline in China,partly offset by an increase in other Growth geographies.Cash and cash equivalents balance in millions of EURQ4 2023Q4 2024Beginning cash ba

49、lance1,1551,512Free cash flow1,1281,285Net cash flows from operating activities1,3101,459Net capital expenditures(182)(174)Other cash flows from investing activities6475Treasury shares transactions(408)(143)Changes in debt(57)(396)Other cash flow items(32)65Net cash flows from discontinued operation

50、s204Ending cash balance1,8692,4011Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationNet cash flows from operating activities increased,mainly driven by the EUR 367 million Respironics insurance proceeds,partly offset by lower working capital inflows.Treasury shares transac

51、tions includes share repurchases to cover obligations arising from long-term incentive plans.Changes in debt in Q4 2024 mainly included a EUR 346 million bond redemption.Other cash flow items reflects the foreign currency impact on the cash balance.Composition of net debt to group equity1 in million

52、s of EUR unless otherwise statedSeptember 30,2024December 31,2024Long-term debt7,1107,113Short-term debt923526Total debt8,0327,639Cash and cash equivalents1,5122,401Net debt6,5205,238Shareholders equity11,43712,006Non-controlling interests3337Group equity11,47012,043Net debt:group equity ratio36:643

53、0:701Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationQuarterly Report 2024-Q45Amounts may not add up due to roundingPerformance per segmentDiagnosis&TreatmentKey data in millions of EUR unless otherwise statedQ4 2023Q4 2024Sales2,4982,440Sales growthNominal sales growth(

54、2%)(2%)Comparable sales growth 5%(1%)Income from operations1343as a%of sales 5.4%0.1%EBITA166159as a%of sales 6.6%6.5%Adjusted EBITA262295as a%of sales 10.5%12.1%Adjusted EBITDA311349as a%of sales 12.4%14.3%1Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationComparable sale

55、s decreased by 1%,mainly due to a double-digit decline in China,offsetting solid growth elsewhere.Growth in Image Guided Therapy was offset by a decline in Precision Diagnosis.Mature geographies showed mid-single-digit growth,driven by North America and Western Europe.Growth geographies decreased ma

56、inly due to the decline in China.Income from operations was impacted by the impairment of intangible assets amounting to EUR 132 million in Q4 2024.Adjusted EBITA increased to EUR 295 million and the margin improved to 12.1%,mainly driven by productivity,mix and pricing.Restructuring,acquisition-rel

57、ated and other items amounted to EUR 136 million,compared with EUR 96 million in Q4 2023.Q4 2024 includes EUR 97 million restructuring and acquisition-related charges and EUR 39 million related to quality actions.Connected CareKey data in millions of EUR unless otherwise statedQ4 2023Q4 2024Sales1,3

58、531,426Sales growthNominal sales growth(17%)5%Comparable sales growth(11%)7%Income from operations(332)58as a%of sales(24.5%)4.1%EBITA(287)88as a%of sales(21.2%)6.2%Adjusted EBITA203214as a%of sales 15.0%15.0%Adjusted EBITDA275276as a%of sales 20.3%19.3%1Non-IFRS financial measure.Refer to theReconc

59、iliation of non-IFRS informationComparable sales increased by 7%,on the back of a low comparison base due to the impact of a provision against sales taken in Q4 2023 related to the Respironics recall remediation.Mature geographies showed high-single-digit growth.Growth geographies showed a low-singl

60、e-digit decline.Adjusted EBITA increased to EUR 214 million and the margin was in line with last year.Restructuring,acquisition-related and other items amounted to EUR 126 million,compared with EUR 490 million in Q4 2023.Q4 2024 includes EUR 53 million related to quality actions,EUR 48 million Respi

61、ronics consent decree charges and EUR 26 million Respironics field-action running costs.Quarterly Report 2024-Q46Personal HealthKey data in millions of EUR unless otherwise statedQ4 2023Q4 2024Sales1,0691,027Sales growthNominal sales growth 1%(4%)Comparable sales growth 7%(2%)Income from operations2

62、08176as a%of sales 19.5%17.1%EBITA211180as a%of sales 19.7%17.5%Adjusted EBITA213185as a%of sales 19.9%18.0%Adjusted EBITDA243211as a%of sales 22.7%20.5%1Non-IFRS financial measure.Refer to Reconciliation of non-IFRS informationComparable sales decreased by 2%,mainly due to the double-digit decline

63、in China as a result of subdued consumer sentiment.Adjusted EBITA decreased to EUR 185 million and the margin decreased to 18.0%,mainly due to lower sales in China.Restructuring,acquisition-related and other items amounted to EUR 5 million in Q4 2024.OtherKey data in millions of EURQ4 2023Q4 2024Sal

64、es141151Income from operations13(38)EBITA15(34)Adjusted EBITA of:(25)(15)IP Royalties6778Innovation(35)(32)Central costs(69)(63)Other111Adjusted EBITDA67691Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationSales increased by EUR 10 million,mainly driven by higher royalty i

65、ncome.Adjusted EBITA improved by EUR 10 million,mainly driven by higher royalty income.Restructuring,acquisition-related and other items amounted to EUR 19 million,compared with EUR 40 million in Q4 2023.Quarterly Report 2024-Q47Proposed dividend distribution A proposal will be submitted to the Annu

66、al General Meeting of Shareholders,to be held on May 8,2025,to declare a distribution of EUR 0.85 per common share,in shares or cash at the option of the shareholder,against retained earnings.If the above dividend proposal is adopted,the shares will be traded ex-dividend at the Euronext Amsterdam as

67、 of May 12,2025,and at the New York Stock Exchange as of May 13,2025.In compliance with the listing requirements of Euronext Amsterdam and the New York Stock Exchange,the dividend record date will be May 13,2025.Shareholders will be given the opportunity to make their choice between shares and cash

68、between May 14 and June 2,2025,for shares traded at the New York Stock Exchange,and between May 14 and June 3,2025,for shares traded at Euronext Amsterdam.If no choice is made during this election period,the dividend will be distributed in shares.Of the total dividend distribution to all shareholder

69、s(up to EUR 786 million),a maximum of 50%will be available for payment in cash.If shareholders in total elect to receive an aggregate amount of cash dividend that exceeds the maximum percentage of the total dividend amount,those shareholders who elected to receive their dividend in cash will receive

70、 their cash dividend on a pro-rata basis,the remainder being distributed in shares.The number of share dividend rights entitled to one new common share will be determined based on the volume weighted average price of all traded common shares of Koninklijke Philips N.V.at Euronext Amsterdam on May 30

71、,June 2 and June 3,2025.The company will calculate the number of share dividend rights entitled to one new common share(the ratio),such that the gross dividend in shares will be approximately equal to EUR 0.85.The ratio and the number of shares to be issued will be announced on June 5,2025.Delivery

72、of new common shares and payment of the dividend,with settlement of fractions in cash,if required,will take place from June 6,2025.Further details will be given in the agenda with explanatory notes for the 2025 Annual General Meeting of Shareholders.All dates mentioned remain provisional until then.

73、Quarterly Report 2024-Q48Full-year highlightsPhilips performanceKey data in millions of EUR unless otherwise statedJanuary to December20232024Sales18,16918,021Nominal sales growth 2%(1%)Comparable sales growth 6%1%Comparable order intake (6%)1%Income from operations(115)529as a%of sales(1%)3%Financi

74、al income(expenses),net(314)(282)Investments in associates,net of income taxes(98)(124)Income tax(expense)benefit73(963)Income from continuing operations(454)(840)Discontinued operations,net of income taxes(10)142Net income(463)(698)Earnings per common share(EPS)Income from continuing operations att

75、ributable to shareholders(in EUR)-diluted(0.48)(0.90)Adjusted income from continuing operations attributable to shareholders(in EUR)-diluted1.211.39Net income attributable to shareholders(in EUR)-diluted(0.49)(0.75)EBITA183921as a%of sales 1.0%5.1%Adjusted EBITA1,9212,077as a%of sales 10.6%11.5%Adju

76、sted EBITDA2,8452,982as a%of sales 15.7%16.5%1Non-IFRS financial measure.Refer to theReconciliation of non-IFRS information2Effective Q1 2024,Philips has revised the order intake policy for the software businesses.Refer to Forward-looking statements and other important information.3Comparable order

77、intake is presented when discussing the Philips Groups performance.For the definition of this measure,refer to chapter 13.6,Other Key Performance indicators,of the Annual Report 2023.4Shareholders refers to shareholders of Koninklijke Philips N.V.Per share calculations have been adjusted retrospecti

78、vely for all periods presented to reflect the issuance of shares for the share dividend with respect to 2023.Comparable sales increased by 1%on the back of mid-single-digit growth in 2023.A double-digit decline in China due to the lower demand from consumers and health systems was more than offset b

79、y the solid growth in the rest of the world.Income from operations increased by EUR 644 million,mainly driven by higher gross margin,and lower charges in restructuring,acquisition-related and other items,partially offset by higher impairment charges.Adjusted EBITA increased to EUR 2,077 million and

80、the margin improved to 11.5%,mainly driven by operational improvements and productivity measures.Restructuring,acquisition-related and other items amounted to EUR 1,156 million,compared with EUR 1,738 million in 2023.2024 includes EUR 984 million for the Respironics litigation provision,EUR 326 mill

81、ion restructuring and acquisition-related charges,EUR 133 million Respironics field-action running costs,EUR 123 million related to quality actions,and EUR 113 million Respironics consent decree charges,partially offset by EUR 538 million Respironics insurance income related to the product liability

82、 claims.Investments in associates includes share of results of associates and impairments,and it decreased by EUR 26 million,mainly due to higher impairment losses.Income tax expense increased by EUR 1,036 million year-on-year,mainly due to de-recognition of deferred tax assets in the US and higher

83、income before tax in 2024,as well as the recognition of historical tax credits in 2023.Net income decreased in comparison with 2023,mainly due to higher tax expenses,partly offset by higher gross margin and lower restructuring,acquisition-related and other items.Sales per geographic area1 in million

84、s of EUR unless otherwise stated%change20232024nominalcomparableWestern Europe3,8193,978 4%5%North America7,5627,655 1%2%Other mature geographies1,6261,526(6%)(1%)Mature geographies13,00713,159 1%2%Growth geographies5,1624,863(6%)(2%)Philips Group18,16918,021(1%)1%1Sales per geographic area is repor

85、ted based on country of destination.2Non-IFRS financial measure.Refer to the Reconciliation of non-IFRS informationComparable sales in Mature geographies showed low-single-digit growth,mainly driven by Western Europe and North America,partly offset by Other mature geographies.Growth geographies decr

86、eased by 2%as a result of the decline in China,partly offset by an increase in other Growth geographies.Quarterly Report 2024-Q49Cash and cash equivalents balance in millions of EURJanuary to December20232024Beginning cash balance1,1721,869Free cash flow1,582906Net cash flows from operating activiti

87、es2,1361,569Net capital expenditures(554)(663)Other cash flows from investing activities(82)90Treasury shares transactions(662)(410)Changes in debt(181)(83)Dividend paid to shareholders(2)(1)Other cash flow items(81)43Net cash flows from discontinued operations123(13)Ending cash balance1,8692,4011No

88、n-IFRS financial measure.Refer to the Reconciliation of non-IFRS informationNet cash flows from operating activities decreased,mainly due to the payments in connection with the Respironics economic loss settlement in the US and working capital outflows,partly offset by the Respironics insurance proc

89、eeds.Net capital expenditures were higher in 2024 as cash proceeds from the sale of real estate were favorably impacting 2023 results.Other cash flows from investing activities in 2024 mainly includes proceeds from divested businesses.The cash outflows in 2023 were mainly a result of a cash payment

90、with respect to foreign exchange derivative contracts.Treasury shares transactions includes share repurchases as part of the EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26,2021,and completed on April 12,2024,and share repurchases for long-term i

91、ncentive plans,as well as related withholding tax.Changes in debt mainly included the new bond issuance of EUR 700 million,which was offset by a bond redemption of EUR 547 million and other debt repayments.Other cash flow items reflects foreign currency impact on the cash balance.Composition of net

92、debt to group equity in millions of EUR unless otherwise statedDecember 31,2023December 31,2024Long-term debt7,0357,113Short-term debt654526Total debt7,6897,639Cash and cash equivalents1,8692,401Net debt5,8205,238Shareholders equity12,02812,006Non-controlling interests3337Group equity12,06112,043Net

93、 debt:group equity ratio33:6730:701Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationThe net debt to group equity ratio decreased,mainly due to the increase in cash and cash equivalents in 2024.Quarterly Report 2024-Q410Full-year highlightsPerformance per segmentDiagnosis&

94、TreatmentKey data in millions of EUR unless otherwise statedJanuary to December20232024Sales8,8258,790Sales growthNominal sales growth 6%0%Comparable sales growth 11%1%Income from operations721592as a%of sales 8.2%6.7%EBITA818817as a%of sales 9.3%9.3%Adjusted EBITA1,0281,018as a%of sales 11.6%11.6%A

95、djusted EBITDA1,2411,219as a%of sales 14.1%13.9%1Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationComparable sales increased by 1%on the back of double-digit growth in 2023.Growth in Image Guided Therapy was partly offset by a decline in Precision Diagnosis.Comparable sal

96、es in Mature geographies showed mid-single-digit growth,mainly driven by North America.Growth geographies showed a low-single-digit decline,due to China,partly offset by an increase in other Growth geographies.Adjusted EBITA decreased to EUR 1,018 million and the margin was in line with last year.Re

97、structuring,acquisition-related and other items amounted to EUR 202 million,compared with EUR 210 million in 2023.2024 includes EUR 157 million in restructuring and acquisition charges and EUR 45 million related to quality actions.Connected CareKey data in millions of EUR unless otherwise statedJanu

98、ary to December20232024Sales5,1385,134Sales growthNominal sales growth(2%)0%Comparable sales growth 1%2%Income from operations(1,199)(466)as a%of sales(23.3%)(9.1%)EBITA(1,020)(324)as a%of sales(19.9%)(6.3%)Adjusted EBITA369494as a%of sales 7.2%9.6%Adjusted EBITDA623747as a%of sales 12.1%14.5%1Non-I

99、FRS financial measure.Refer to theReconciliation of non-IFRS informationComparable sales increased by 2%,mainly driven by growth in Enterprise Informatics and Sleep&Respiratory Care,which was partially offset by a decline in Monitoring on the back of strong double-digit growth in 2023.Mature geograp

100、hies showed low-single-digit growth,driven by double-digit growth in Western Europe and low-single-digit growth in North America.Comparable sales in Growth geographies declined due to China.Adjusted EBITA increased to EUR 494 million and the margin improved to 9.6%,driven by productivity measures an

101、d pricing actions.Restructuring,acquisition-related and other items were EUR 818 million,compared with EUR 1,390 million in 2023.2024 includes EUR 984 million for the Respironics litigation provision,EUR 133 million Respironics field-action running costs,EUR 113 million Respironics consent decree ch

102、arges,EUR 78 million related to quality actions,and EUR 53 million restructuring and acquisition-related charges,partly offset by EUR 538 million in insurance income related to the Respironics product liability claims.Quarterly Report 2024-Q411Personal HealthKey data in millions of EUR unless otherw

103、ise statedJanuary to December20232024Sales3,6023,486Sales growthNominal sales growth(1%)(3%)Comparable sales growth 3%(1%)Income from operations552544as a%of sales 15.3%15.6%EBITA567559as a%of sales 15.7%16.0%Adjusted EBITA597584as a%of sales 16.6%16.7%Adjusted EBITDA698679as a%of sales 19.4%19.5%1N

104、on-IFRS financial measure.Refer to theReconciliation of non-IFRS informationComparable sales decreased by 1%,mainly due to a low-single-digit decline in Growth geographies due to China,which was partially offset by low-single-digit growth in Mature geographies.Adjusted EBITA was EUR 584 million and

105、the margin increased to 16.7%,driven by operational improvements and productivity measures,largely offset by lower sales in China.Restructuring,acquisition-related and other items amounted to EUR 25 million,compared with EUR 31 million in 2023.OtherKey data in millions of EUR unless otherwise stated

106、January to December20232024Sales604611Income from operations(190)(142)EBITA(181)(130)Adjusted EBITA of:(73)(18)IP Royalties309328Innovation(143)(104)Central costs(240)(238)Other(1)(5)Adjusted EBITDA2833371Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informationSales increased by

107、 EUR 7 million,mainly driven by higher royalty income.Adjusted EBITA increased by EUR 55 million,mainly driven by higher royalty income and lower costs.Restructuring,acquisition-related and other items amounted to EUR 111 million,compared with EUR 108 million in 2023.Quarterly Report 2024-Q412Forwar

108、d-looking statements and other informationForward-looking statementsThis document and the related oral presentation,including responses to questions following the presentation,contain certain forward-looking statements with respect to the financial condition,results of operations and business of Phi

109、lips and certain of the plans and objectives of Philips with respect to these items.Examples of forward-looking statements include statements made about our strategy,estimates of sales growth,future Adjusted EBITA*),future restructuring and acquisition-related charges and other costs,future developm

110、ents in Philips organic business and the completion of acquisitions and divestments.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”,“m

111、ay”or similar expressions.By their nature,these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.These fa

112、ctors include but are not limited to:macro-economic and geopolitical changes,including protectionism measures such as announced and proposed tariffs and retaliatory trade measures in response thereto;Philips ability to keep pace with the changing health technology environment;Philips ability to gain

113、 leadership in health informatics and artificial intelligence in response to developments in the health technology industry;integration of acquisitions and their delivery on business plans and value creation expectations;ability to meet expectations with respect to ESG-related matters;securing and m

114、aintaining Philips intellectual property rights,and unauthorized use of third-party intellectual property rights;failure of products and services to meet quality or security standards,adversely affecting patient safety and customer operations;the resilience of our supply chain;challenges in simplify

115、ing our organization and our ways of working;attracting and retaining personnel;breach of cybersecurity;challenges in driving operational excellence and speed in bringing innovations to market;treasury and financing risks;tax risks;reliability of internal controls;compliance with regulations and sta

116、ndards involving quality,product safety,(cyber)security and artificial intelligence;and compliance with business conduct rules and regulations including privacy,existing and upcoming ESG disclosure and due diligence requirements.As a result,Philips actual future results may differ materially from th

117、e plans,goals and expectations set forth in such forward-looking statements.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 2023.Reference is also made to section Risk manage

118、ment in the Philips semi-annual report 2024.Third-party market share dataStatements regarding market share contained in this document,including those regarding Philips competitive position,are based on outside sources such as specialized research institutes,as well as industry and dealer panels,in c

119、ombination with management estimates.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.Managements estimates of rankings are based on order intake or sales,dep

120、ending on the business.Market Abuse RegulationThis press release contains inside information within the meaning of Article 7(1)of the EU Market Abuse Regulation.Use of non-IFRS informationIn presenting and discussing the Philips Groups financial position,operating results and cash flows,management u

121、ses certain non-IFRS financial measures.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.Non-IFRS financial measures do not have standardized meaning un

122、der IFRS and therefore may not be comparable to similar measures presented by other issuers.A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document.Further information on non-IFRS measures can be found in the Annual Report 2023.Presenta

123、tionAll amounts are in millions of euros unless otherwise stated.Due to rounding,amounts may not add up precisely to totals provided.All reported data is unaudited.Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2023.Prior-period amounts have been rec

124、lassified to conform to the current-period presentation;this includes immaterial organizational changes.Effective Q1 2024,Philips has revised the order intake policy to reflect the full contract value for software contracts that start generating revenue within an 18-month horizon,instead of only the

125、 next 18-months-to-revenue horizon.This change has been implemented to better align with the specific business model of our software businesses,simplify the order intake process,and better align with peers.Prior-period comparable order intake percentages have been restated accordingly.This revision

126、has not resulted in any material changes to the order intake percentages for the periods presented.Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares in the second quarter of 2024 in connection with the 2023 share dividend.*Non-IFRS

127、financial measure.Refer to theReconciliation of non-IFRS informationQuarterly Report 2024-Q413Condensed consolidated statements of incomeIn millions of EUR unless otherwise statedQ4January to December2023202420232024Sales5,0625,04418,16918,021Cost of sales(3,263)(3,081)(10,721)(10,248)Gross margin1,

128、7981,9637,4487,773Selling expenses(1,220)(1,188)(4,524)(4,486)General and administrative expenses(143)(137)(608)(582)Research and development expenses(449)(472)(1,890)(1,747)Impairment of goodwill(8)(8)Other business income5036112590Other business expenses(6)(4)(645)(1,019)Income from operations2419

129、9(115)529Financial income173263105Financial expenses(109)(107)(376)(387)Investments in associates,net of income taxes(26)(9)(98)(124)Income before taxes(94)115(526)123Income tax(expense)benefit132(449)73(963)Income from continuing operations38(333)(454)(840)Discontinued operations,net of income taxe

130、s-(10)142Net income38(333)(463)(698)Attribution of net incomeNet income attributable to shareholders39(334)(466)(702)Net income attributable to non-controlling interests(1)1231Shareholders refers to shareholders of Koninklijke Philips N.V.Philips GroupEarnings per common share attributable to shareh

131、olders of Koninklijke Philips N.V.Q4January to December2023202420232024Weighted average number of common shares outstanding(after deduction of treasury shares)during the period(in thousands):Basic941,684929,378948,301933,371Diluted958,161929,378948,301933,371Basic earnings per common share attributa

132、ble to shareholders of Koninklijke Philips N.V(in EUR)Income from continuing operations0.04(0.36)(0.48)(0.90)Income from discontinued operations-(0.01)0.15Net income0.04(0.36)(0.49)(0.75)Diluted earnings per common share attributable to shareholders of Koninklijke Philips N.V.(in EUR)Income from con

133、tinuing operations0.04(0.36)(0.48)(0.90)Income from discontinued operations-(0.01)0.15Net income0.04(0.36)(0.49)(0.75)1Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares for the share dividend with respect to 2023.Quarterly Report 20

134、24-Q414Amounts may not add up due to roundingCondensed consolidated statements of comprehensive incomein millions of EURJanuary to December20232024Net income for the period(463)(698)Pensions and other post-employment plans:Remeasurement,before tax(26)(18)Income tax effect on remeasurements312Financi

135、al assets fair value through OCI:Net current-period change,before tax(20)(21)Income tax effect on net current-period change39Total of items that will not be reclassified to Income statement(40)(17)Currency translation differences:Net current-period change,before tax(579)768Income tax effect on net c

136、urrent-period change-(8)Reclassification adjustment for(gain)loss realized(26)(7)Cash flow hedges:Net current-period change,before tax2921Income tax effect on net current-period change(2)3Reclassification adjustment for(gain)loss realized(19)(29)Total of items that are or may be reclassified to Inco

137、me Statement(597)748Other comprehensive income for the period(637)731Total comprehensive income for the period(1,100)33Total comprehensive income attributable to:Shareholders of Koninklijke Philips N.V.(1,101)27Non-controlling interests16Quarterly Report 2024-Q415Amounts may not add up due to roundi

138、ngCondensed consolidated balance sheetsin millions of EURNon-current assets:Property,plant and equipment2,4832,452Goodwill9,87610,383Intangible assets excluding goodwill3,1902,982Non-current receivables193208Investments in associates381257Other non-current financial assets619631Non-current derivativ

139、e financial assets38Deferred tax assets2,6271,916Other non-current assets93118Total non-current assets19,46618,955Current assets:Inventories3,4913,198Other current financial assets32Other current assets500586Current derivative financial assets4569Income tax receivable22094Current receivables3,7333,6

140、72Assets classified as held for sale79-Cash and cash equivalents1,8692,401Total current assets9,94010,022Total assets29,40628,976Equity:Shareholders equity12,02812,006Common shares183188Capital in excess of par value5,8276,654Reserves8791,925Other5,1393,239Non-controlling interests3337Group equity12

141、,06112,043Non-current liabilities:Long-term debt7,0357,113Non-current derivative financial liabilities34Long-term provisions1,035996Deferred tax liabilities7181Non-current contract liabilities469431Non-current tax liabilities390119Other non-current liabilities5445Total non-current liabilities9,0588,

142、787Current liabilities:Short-term debt654526Current derivative financial liabilities4059Income tax payable8371Accounts payable1,9171,830Accrued liabilities1,8871,630Current contract liabilities1,8091,699Short-term provisions1,4631,977Dividend payable11Liabilities directly associated with assets held

143、 for sale9-Other current liabilities414354Total current liabilities8,2878,146Total liabilities17,34516,933Total liabilities and group equity29,40628,976December 31,2023December 31,2024Quarterly Report 2024-Q416Amounts may not add up due to roundingCondensed consolidated statements of cash flowsin mi

144、llions of EURJanuary to December20232024Cash flows from operating activities:Net income(loss)(463)(698)Results of discontinued operations-net of income tax10(142)Adjustments to reconcile net income to net cash provided by(used for)operating activities:Depreciation,amortization and impairment of asse

145、ts1,2611,390Impairment of goodwill8-Share-based compensation8896Net loss(gain)on sale of assets(71)(19)Interest income(46)(81)Interest expense on debt,borrowings and other liabilities255270Investments in associates,net of income taxes107126Income tax expense(benefit)(71)964Decrease(increase)in worki

146、ng capital:913(355)Decrease(increase)in receivables and other current assets298(1)Decrease(increase)in inventories257230Increase(decrease)in accounts payable,accrued and other current liabilities358(583)Decrease(increase)in non-current receivables and other assets(33)(5)Increase(decrease)in other li

147、abilities(38)(51)Increase(decrease)in provisions422316Other items129101Interest received5383Interest paid(250)(261)Dividends received from investments in associates138Income taxes paid(152)(173)Net cash provided by(used for)operating activities2,1361,569Cash flows from investing activities:Net capit

148、al expenditures(554)(663)Purchase of intangible assets(96)(118)Expenditures on development assets(203)(241)Capital expenditures on property,plant and equipment(345)(317)Proceeds from sales of property,plant and equipment9013Net proceeds from(cash used for)derivatives and current financial assets(46)

149、38Purchase of other non-current financial assets(92)(123)Proceeds from other non-current financial assets4857Purchase of businesses,net of cash acquired(73)(8)Net proceeds from sale of interests in businesses,net of cash disposed of80126Net cash provided by(used for)investing activities(636)(573)Cas

150、h flows from financing activities:Proceeds from issuance of(payments on)short-term debt29(30)Principal payments on short-term portion of long-term debt(754)(763)Proceeds from issuance of long-term debt544710Purchase of treasury shares(662)(411)Dividends paid to shareholders of Koninklijke Philips N.

151、V.(2)(1)Dividends paid to shareholders of non-controlling interests(3)(2)Net cash provided by(used for)financing activities(848)(496)Net cash provided by(used for)continuing operations652500Net cash provided by(used for)discontinued operations123(13)Net cash provided by(used for)continuing and disco

152、ntinued operations776487Effect of change in exchange rates on cash and cash equivalents(79)45Cash and cash equivalents at the beginning of the period1,1721,869Cash and cash equivalents at the end of the period1,8692,401Quarterly Report 2024-Q417Amounts may not add up due to roundingCondensed consoli

153、dated statements of changes in equityin millions of EURCommon sharesCapital in excess of par valueFair value through OCICash flow hedgesCurrency translation differencesRetained earningsTreasury shares at costTotal shareholders equityNon-controlling interestsGroup equityreservesotherBalance as of Dec

154、ember 31,20221785,025(376)(2)1,8666,832(275)13,2493413,283Total comprehensive income(loss)-(17)8(604)(488)-(1,101)1(1,100)Dividend distributed8741-(816)-(68)(3)(70)Transfer of reserve for equity investments at FVTOCI to retained earnings-4-(4)-Re-issuance of treasury shares-(29)-(24)54-Forward contr

155、acts-465(608)(143)-(143)Cancellation of treasury shares(3)-(563)566-Share-based compensation plans-88-88-88Income tax share-based compensation plans-2-2-2Balance as of December 31,20231835,827(390)61,2635,402(262)12,0283312,061Total comprehensive income(loss)-(11)(5)751(707)-27633Dividend distribute

156、d6762-(799)-(31)(2)(32)Transfer of reserve for equity investments at FVTOCI to retained earnings-311-(313)-(2)-(2)Purchase of treasury shares-(60)(60)-(60)Re-issuance of treasury shares-(36)-(18)54-Forward contracts-251(310)(59)-(59)Cancellation of treasury shares(1)-(166)167-Share-based compensatio

157、n plans-96-96-96Income tax share-based compensation plans-5-5-5Balance as of December 31,20241886,654(90)12,0143,650(411)12,0063712,043Quarterly Report 2024-Q418Amounts may not add up due to roundingReconciliation of non-IFRS informationCertain non-IFRS financial measures are presented when discussi

158、ng the Philips Groups performance:Comparable sales growthAdjusted income from continuing operations attributable to shareholdersAdjusted income from continuing operations attributable to shareholders per common share(in EUR)-diluted(Adjusted EPS)EBITAAdjusted EBITAAdjusted EBITDAFree cash flowNet de

159、bt:group equity ratioFor the definitions of the non-IFRS financial measures listed above,refer to chapter 13.5,Reconciliation of non-IFRS information,of the Annual Report 2023 and to the Forward-looking statements and other important information.Comparable order intake is not a financial measure,but

160、 is presented when discussing the Philips Groups performance.Effective Q1 2024,Philips has revised the order intake policy for the software business.Refer to Forward-looking statements and other important information.Sales growth composition in%Q4 2024January to Decembernominal growthconsolidation c

161、hangescurrency effectscomparable growthnominal growthconsolidation changescurrency effectscomparable growth2024 versus 2023Diagnosis&Treatment(2.3%)0.4%1.3%(0.6%)(0.4%)0.0%1.7%1.3%Connected Care 5.4%0.2%1.2%6.8%(0.1%)0.8%1.3%2.0%Personal Health(3.9%)0.0%2.1%(1.9%)(3.2%)0.0%2.5%(0.7%)Philips Group(0.

162、3%)0.3%1.4%1.4%(0.8%)0.3%1.7%1.2%Adjusted income from continuing operations attributable to shareholders1 in millions of EUR unless otherwise statedQ4January to December2023202420232024Net income38(333)(463)(698)Discontinued operations,net of income taxes-10(142)Income from continuing operations38(3

163、33)(454)(840)Income from continuing operations attributable to non-controlling interests1(1)(2)(3)Income from continuing operations attributable to shareholders39(334)(456)(843)Adjustments for:Amortization and impairment of acquired intangible assets74193290392Impairment of goodwill88Restructuring a

164、nd acquisition-related charges49118381326Other items:4981681,358830Respironics litigation provision575984Respironics insurance income(538)Respironics field-action running costs5226224133Respironics consent decree charges36348363113Investment re-measurement loss23Provision for a legal matter3131Gain

165、on divestment of business(35)(35)Quality actions10092175123Remaining items(12)1216Net finance expenses471823Tax impact on adjusting items(293)(123)(450)(370)Tax effect of derecognition of US deferred tax asset-445941Adjusted income from continuing operations attributable to shareholders3814741,1481,

166、300Earnings per common share:Income from continuing operations attributable to shareholders per common share(in EUR)-diluted0.04(0.36)(0.48)(0.90)Adjusted income from continuing operations attributable to shareholders per common share(in EUR)-diluted0.400.511.211.391Shareholders refers to shareholde

167、rs of Koninklijke Philips N.V.2Includes deferred tax assets derecognized in the line below.3Shareholders refers to shareholders of Koninklijke Philips N.V.Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares for the share dividend with

168、 respect to 2023.Quarterly Report 2024-Q419Amounts may not add up due to roundingReconciliation of Net income to Adjusted EBITA and Adjusted EBITDA in millions of EURPhilips GroupDiagnosis&TreatmentConnected CarePersonal HealthOtherQ4 2024Net income(333)Discontinued operations,net of income taxes-In

169、come tax expense(benefit)449Investments in associates,net of income taxes9Financial expenses107Financial income(32)Income from operations 199 3 58 176 (38)Amortization and impairment of acquired intangible assets 193 156 30 4 4 EBITA 393 159 88 180 (34)Restructuring and acquisition-related charges11

170、897(1)517Other items:16839127-2Respironics field-action running costs2626Respironics consent decree charges4848Quality actions923953Remaining items 1 (1)2 Adjusted EBITA 679 295 214 185 (15)Depreciation,amortization and impairment of fixed assets and other intangible assets26890702881Adding back imp

171、airment of fixed assets included in Restructuring and acquisition-related charges and Other items(43)(36)(8)(2)3 Adjusted EBITDA 905 349 276 211 69 January to December 2024Net income(698)Discontinued operations,net of income taxes(142)Income tax expense(benefit)963 Investments in associates,net of i

172、ncome taxes 124 Financial expenses 387 Financial income(105)Income from operations 529 592 (466)544 (142)Amortization and impairmentof acquired intangible assets 392 225 141 15 12 EBITA 921 817 (324)559 (130)Restructuring and acquisition-related charges326157532592Other items:83045765-20Respironics

173、litigation provision984984Respironics insurance income(538)(538)Respironics field-action running costs133133-Respironics consent decree charges113113Quality actions1234578Remaining items 16 (4)20 Adjusted EBITA 2,077 1,018 494 584 (18)Depreciation,amortization and impairment of fixed assets and othe

174、r intangible assets998240262102394Adding back impairment of fixed assets included in Restructuring and acquisition-related charges and Other items(93)(39)(8)(7)(39)Adjusted EBITDA 2,982 1,219 747 679 337 Quarterly Report 2024-Q420Philips GroupDiagnosis&TreatmentConnected CarePersonal HealthOtherQ4 2

175、023Net income38Discontinued operations,net of income taxes-Income tax expense(benefit)(132)Investments in associates,net of income taxes26Financial expenses109Financial income(17)Income from operations24134(332)20813Amortization and impairment of acquired intangible assets74244542Impairment of goodw

176、ill88-EBITA106166(287)21115Restructuring and acquisition-related charges4915372(4)Other items:49881453(36)Respironics consent decree charges363363Respironics field-action running costs5252Quality actions1008119Provision for a legal matter3131Gain on divestment of business(35)(35)Remaining items(12)-

177、(11)(1)Adjusted EBITA653262203213(25)Depreciation,amortization and impairment of fixed assets and other intangible assets25350823092Adding back impairment of fixed assets included in Restructuring and acquisition-related charges and Other items(11)-(10)(1)Adjusted EBITDA89631127524367January to Dece

178、mber 2023Net income(463)Discontinued operations,net of income taxes10Income tax expense(benefit)(73)Investments in associates,net of income taxes98Financial expenses376Financial income(63)Income from operations(115)721(1,199)552(190)Amortization and impairment of acquired intangible assets2908917814

179、9Impairment of goodwill88-EBITA183818(1,020)567(181)Restructuring and acquisition-related charges3811181159140Other items:1,358921,27522(32)Respironics litigation provision575575Respironics consent decree charges363363Respironics field-action running costs224224Quality actions1758194Provision for a

180、legal matter3131Investment re-measurement loss2323Gain on divestment of business(35)(35)Remaining items211(12)(1)3Adjusted EBITA1,9211,028369597(73)Depreciation,amortization and impairment of fixed assets and other intangible assets971217267101385Adding back impairment of fixed assets included in Re

181、structuring and acquisition-related charges and Other items(47)(4)(14)-(30)Adjusted EBITDA2,8451,241623698283Composition of free cash flow in millions of EURQ4January to December2023202420232024Net cash flows from operating activities1,3101,4592,1361,569Net capital expenditures(182)(174)(554)(663)Pu

182、rchase of intangible assets(20)(25)(96)(118)Expenditures on development assets(50)(64)(203)(241)Capital expenditures on property,plant and equipment(105)(83)(345)(317)Proceeds from sales of property,plant and equipment(7)(2)9013Free cash flow1,1281,2851,582906Quarterly Report 2024-Q421Philips statis

183、ticsQuarterly statistics in millions of EUR unless otherwise stated20232024Q1Q2Q3Q4Q1Q2Q3Q4Sales4,1674,4704,4715,0624,1384,4624,3775,044Nominal sales growth 6%7%4%(7%)(1%)0%(2%)0%Comparable sales growth 6%9%11%(1%)2%2%0%1%Comparable order intake (5%)(8%)(7%)(4%)(4%)9%(2%)2%Gross margin1,7551,9611,93

184、31,7981,8151,9892,0061,963as a%of sales 42%44%43%36%44%45%46%39%Selling expenses(1,079)(1,112)(1,114)(1,220)(1,096)(1,127)(1,075)(1,188)as a%of sales(26%)(25%)(25%)(24%)(26%)(25%)(25%)(24%)G&A expenses(158)(157)(150)(143)(136)(158)(151)(137)as a%of sales(4%)(4%)(3%)(3%)(3%)(4%)(3%)(3%)R&D expenses(5

185、28)(468)(445)(449)(419)(424)(433)(472)as a%of sales(13%)(10%)(10%)(9%)(10%)(9%)(10%)(9%)Income from operations(583)22122424(824)816337199as a%of sales(14%)5%5%0%(20%)18%8%4%Net income(665)749038(998)452181(333)Income from continuing operations attributable to shareholders per common share(in EUR)-di

186、luted(0.70)0.070.100.04(1.07)0.330.19(0.36)Adjusted income from continuing operations attributable to shareholders per common share(in EUR)-diluted0.200.270.320.400.250.300.320.51EBITA(510)292 294 106 (751)876 404 393 as a%of sales(12.2%)6.5%6.6%2.1%(18.1%)19.6%9.2%7.8%Adjusted EBITA3594534566533884

187、95516679as a%of sales 8.6%10.1%10.2%12.9%9.4%11.1%11.8%13.5%Adjusted EBITDA575681692896609733735905as a%of sales 13.8%15.2%15.5%17.7%14.7%16.4%16.8%17.9%At the end of period:Number of common shares outstanding(after deduction of treasury shares)in thousands881,539920,085915,987906,403904,257934,1179

188、31,986925,009Shareholders equity per common share in EUR13.9913.1813.8413.2712.5612.7212.2712.98Net debt:group equity ratio36:6437:6336:6433:6736:6435:6536:6430:70Total employees73,71271,51970,74169,65669,06268,70169,28267,8231Non-IFRS financial measure.Refer to theReconciliation of non-IFRS informa

189、tion 2Effective Q1 2024,Philips has revised the order intake policy for the software businesses.Refer to Forward-looking statements and other important information.3Comparable order intake is presented when discussing the Philips Groups performance.For the definition of this measure,refer to chapter

190、 13.6,Other Key Performance indicators,of the Annual Report 2023.4Shareholders refers to shareholders of Koninklijke Philips N.V.Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares for the share dividend with respect to 2023.Quarterly

191、 Report 2024-Q422Year-to-date statistics in millions of EUR unless otherwise stated20232024January-MarchJanuary-JuneJanuary-SeptemberJanuary-DecemberJanuary-MarchJanuary-JuneJanuary-SeptemberJanuary-DecemberSales4,1678,63613,10718,1694,1388,60012,97718,021Nominal sales growth 6%7%6%2%(1%)0%(1%)(1%)C

192、omparable sales growth 6%8%9%6%2%2%1%1%Comparable order intake (5%)(7%)(7%)(6%)(4%)3%1%1%Gross margin1,7553,7175,6507,4481,8153,8045,8107,773as a%of sales 42%43%43%41%44%44%45%43%Selling expenses(1,079)(2,191)(3,304)(4,524)(1,096)(2,223)(3,298)(4,486)as a%of sales(26%)(25%)(25%)(25%)(26%)(26%)(25%)(

193、25%)G&A expenses(158)(315)(465)(608)(136)(294)(445)(582)as a%of sales(4%)(4%)(4%)(3%)(3%)(3%)(3%)(3%)R&D expenses(528)(996)(1,441)(1,890)(419)(843)(1,275)(1,747)as a%of sales(13%)(12%)(11%)(10%)(10%)(10%)(10%)(10%)Income from operations(583)(362)(139)(115)(824)(8)329529as a%of sales(14%)(4%)(1%)(1%)

194、(20%)0%3%3%Net income(665)(591)(501)(463)(998)(546)(365)(698)Income from continuing operations attributable to shareholders per common share(in EUR)-diluted(0.70)(0.62)(0.52)(0.48)(1.07)(0.74)(0.54)(0.90)Adjusted income from continuing operations attributable to shareholders per common share(in EUR)

195、-diluted0.200.480.811.210.250.560.881.39EBITA(510)(217)77183(751)125528921as a%of sales(12.2%)(2.5%)0.6%1.0%(18.1%)1.5%4.1%5.1%Adjusted EBITA3598121,2681,9213888821,3992,077as a%of sales 8.6%9.4%9.7%10.6%9.4%10.3%10.8%11.5%Adjusted EBITDA5751,2561,9492,8456091,3422,0772,982as a%of sales 13.8%14.5%14

196、.9%15.7%14.7%15.6%16.0%16.5%1Non-IFRS financial measure.Refer to theReconciliation of non-IFRS information 2Effective Q1 2024,Philips has revised the order intake policy for the software businesses.Refer to Forward-looking statements and other important information.3Comparable order intake is presen

197、ted when discussing the Philips Groups performance.For the definition of this measure,refer to chapter 13.6,Other Key Performance indicators,of the Annual Report 2023.4Shareholders refers to shareholders of Koninklijke Philips N.V.Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares for the share dividend with respect to 2023.Quarterly Report 2024-Q423 2025 Koninklijke Philips N.V.All rights reserved.https:/