The Dutch health technology firm reports EUR 132 million in savings from cost initiatives amid a 1% decline in comparable order intake.
Philips posted Q2 revenue of EUR 4.4 billion, up 0.9% year-over-year, driven by 4% comparable sales growth. The increase reflects disciplined cost management and productivity measures that delivered EUR 132 million in savings.
Comparable order intake fell 1% due to timing of large orders. The company reaffirmed its full-year 2021 outlook, citing stable demand trends despite the slight dip in orders.
Shares showed limited movement in pre-market trading as investors digested the mixed performance metrics.