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    Julien Dormois • Jefferies

    Julien Dormois's questions to Koninklijke Philips NV (PHG) leadership

    Julien Dormois's questions to Koninklijke Philips NV (PHG) leadership • Q1 2025

    Question

    Julien Dormois sought clarification on the Q2 outlook, asking if organic sales would still be negative. He also asked for a breakdown of the Diagnosis & Treatment segment's performance, inferring a steep decline in Imaging given the growth in Image-Guided Therapy (IGT).

    Answer

    CFO Charlotte Hanneman confirmed that the expectation for a modest sequential improvement in Q2 versus Q1 was appropriate and in line with the company's back-end loaded full-year outlook. She explained the decline in Precision Diagnosis was expected, driven by challenges in China and a very high comparison base in MR from the prior year when supply chains unlocked, rather than a new market issue.

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    Julien Dormois's questions to Koninklijke Philips NV (PHG) leadership • Q4 2024

    Question

    Julien Dormois questioned how the guided sales decline in China might differ between the consumer and equipment businesses, and asked about the validity of the long-term mid- to high-teens margin target and plans for a Capital Markets Day.

    Answer

    CEO Roy Jakobs clarified that the consumer-facing Personal Health business is experiencing the largest impact in China, representing the bigger part of the drag on performance. CFO Charlotte Hanneman confirmed that the company will provide an update on its long-term plan at a Capital Markets Day later in the year, expressing confidence in margin improvement potential beyond 2025, driven by portfolio mix and productivity.

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