China Market ChallengesPhilips experienced some further demand deterioration in China towards the end of Q3, and the biggest change was in Personal Health given the seasonality of sales and high exposure to China.
Financial Performance4Q 2024 came below expectations for Philips with 4Q sales -1% vs consensus, with an organic growth of +1.0% vs +1.7% expected.
Market PerformanceD&T performance was significantly lower than peer Siemens Healthineers, suggesting market share loss in value (-1% vs +8%).