Philips: targets raised but little reaction
(CercleFinance.com) - Philips shares were treading water on Monday morning, with investors unimpressed by the Dutch healthcare equipment specialist's better-than-expected quarterly results, while snubbing the group's its raising of its annual targets.
This morning, it reported Q3 sales of E4.5bn, up 11% on a comparable basis.
Adjusted Ebita rose to E457m, representing an operating margin of 10.2%, compared with E209m a year ago, i.e. a margin of 4.8%.
Philips said that it had benefited from the firmness of its prices and the productivity improvement measures implemented in recent months.
It has raised its annual targets for the second time this year, now expecting LFL sales growth of 6% to 7%, and an adjusted operating margin of 10% to 11%.
The healthcare equipment specialist had previously forecast like-for-like sales growth of around 5%, for an adjusted EBITA margin at the upper end of a range of 5% to 10%.
However, following this publication, the share was actually down slightly (-0.3%) in early trading on the Amsterdam Stock Exchange on Monday, although is still up nearly 30% YTD.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
This morning, it reported Q3 sales of E4.5bn, up 11% on a comparable basis.
Adjusted Ebita rose to E457m, representing an operating margin of 10.2%, compared with E209m a year ago, i.e. a margin of 4.8%.
Philips said that it had benefited from the firmness of its prices and the productivity improvement measures implemented in recent months.
It has raised its annual targets for the second time this year, now expecting LFL sales growth of 6% to 7%, and an adjusted operating margin of 10% to 11%.
The healthcare equipment specialist had previously forecast like-for-like sales growth of around 5%, for an adjusted EBITA margin at the upper end of a range of 5% to 10%.
However, following this publication, the share was actually down slightly (-0.3%) in early trading on the Amsterdam Stock Exchange on Monday, although is still up nearly 30% YTD.
Copyright (c) 2023 CercleFinance.com. All rights reserved.