Royal Philips NV raised its full-year outlook after supply-chain constraints eased to give some breathing room to the Dutch company grappling with a costly device recall.
Revenue this year should rise by 6% to 7%, compared with previous guidance for mid single-digit growth, the medical equipment maker said Monday. Operational performance has improved this year amid a restructuring process under the new Chief Executive Officer Roy Jakobs.
“The order book remains strong, and we are taking the necessary actions to improve order intake by shortening lead times,” Jakobs, who took the company’s reins in October 2022 and started his tenure by cutting 10,000 jobs, said in a statement.
Amsterdam-based Philips reported third-quarter adjusted earnings before interest, taxes and amortization of €457 million ($483 million), beating the average estimate of €413 million in a Bloomberg survey of analysts.
