(News Bulletin 247) – Philips presented raised forecasts for the 2023 financial year on Monday, but in line with market objectives, causing profit taking on the stock market on its stock which had appreciated a lot in recent weeks.
The Dutch health equipment specialist said he was confident in the successful execution of his strategic plan, while acknowledging that some “concerns persisted”.
For 2023, the group now says it is aiming for growth in its turnover on a like-for-like basis of around 5%, for an operating margin (Ebita) adjusted at the top of an interval ranging from 5% to 10% not included.
‘The consensus already anticipated this increase in objectives’, specifies an analyst covering the value.
In the second quarter, its performance exceeded expectations, with sales of 4.5 billion euros, up 9% on a like-for-like basis.
At 4.3 billion euros, the consensus was a little less ambitious.
As for the operating result (Ebita) adjusted for the second quarter, it stood at 453 million euros, representing a margin of 10.1%, against 216 million euros (5.2%) last year and 395 million euros expected by analysts.
But the net result shows a loss of 20 million euros, well below the profit of 61 million euros which was expected by the market.
Following this publication, the title yielded more than 6% early Monday morning, signing by far the largest drop in the AEX index which yielded 0.2% under the weight of its decline.
The stock still posted a gain of more than 55% since the start of the year, largely outperforming the AEX, up 12% over the period.
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