RYLPF - Philips Non-GAAP EPS of Euro0.33 revenue of Euro4.47B; raises FY23 outlook

2023-10-23 01:04:59 ET

• Philips ( NYSE: PHG ) has raised its FY23 outlook and reported Q3 results .
• Q3 Non-GAAP EPS of €0.33.
• Revenue of €4.47B (+4.0% Y/Y).
• Comparable sales increased by 11%, driven by growth in all business segments.
• Adjusted EBITA increased to €457 million and the margin improved to 10.2%, compared to 4.8% in Q3 2022.
• Comparable order intake was -9% compared to Q3 2022; order book remains strong
• Operating cash flow improved to €489 million, compared to an outflow of €180 million in Q3 2022
• Restructuring and productivity plans on track with total savings of EUR 258 million in the quarter.
• Outlook for full-year 2023 raised to 6-7% comparable sales growth and an Adjusted EBITA margin of 10-11%

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