The year started well for Philips. The healthcare company Philips reports €3.9 billion sales for the first quarter of 2018, with 5% comparable sales growth; net income from continuing operations amounts €94 million, and Adjusted EBITA margin increased 130 basis points to 8.7%. The operating cash inflow totaled EUR 92 million.

“While there is more work to be done, 2018 started well, with 10% comparable order intake growth, 5% comparable sales growth”, says CEO Frits van Houten. “Good traction of new products and solutions introduced last year contributed to 9% comparable sales growth in the Diagnosis & Treatment businesses. Across our markets, we continue to see strong customer interest in our innovations, as demonstrated by the mid-teens order intake growth in the Diagnosis & Treatment businesses. In the quarter, we continued to make good progress with our productivity programs and took action to further reduce our interest expenses.”

“Looking ahead, we reiterate our targets for the 2017–2020 period of 4-6% comparable sales growth and an average annual 100 basis points improvement in Adjusted EBITA margin.”