US EditionPhilips turns in a profit but China, tariffs weigh
- In the first quarter of 2025, Philips, the Dutch company specializing in medical technology, achieved a net profit of 72 million euros despite a 2% drop in global revenue to 4.1 billion euros, marking its first profitable quarter after three consecutive losses.
- The profit recovery followed a $1.1 billion US lawsuit settlement over recalled DreamStation sleep apnea machines and continued challenges from tariffs and a slowing Chinese market.
- Philips faced a double-digit sales decline in China, where government anti-corruption actions and weak consumer demand persist, dragging global orders down despite 2% worldwide growth excluding China.
- CFO Charlotte Hanneman and CEO Roy Jakobs said tariffs could cost up to 300 million euros in 2025, prompting accelerated local production expansion in the US and Europe to mitigate impacts quickly.
- Philips expects a stronger second half of 2025 aided by easier year-over-year comparisons but remains cautious due to macroeconomic uncertainties and trade tensions affecting key business units.
36 Articles
36 Articles
AEX sinks under pressure from Philips; food and Shell dominate
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Philips expects significant impact of import duties
Health technology company Philips expects to suffer greatly this year from the trade war started by the United States. This is what Philips said when presenting the figures for the first quarter of 2025. President Trump's import duties will cause between 250 and 300 million euros in damage, the Eindhoven company estimates. The company refers to uncertain economic conditions. Although Trump has suspended some of his announced import tariffs, Phil…
ABC FOX Montana
Philips turns in a profit but China, tariffs weigh
Dutch medical device maker Philips reported a net profit for the first time in three quarters Tuesday despite weak sales in China but warned of "intensified" uncertainties due to tariffs.
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