by Alessandro Parodi
(Reuters) – The Dutch specialist in health technologies Philips flies to the stock exchange on Tuesday after lowering his estimate of the impact of customs duties on his activity following the trade agreement concluded between the United States and the European Union.
On the Amsterdam Stock Exchange, the Philips action climbed almost 10% around 8:00 am GMT, signing the highest increase in the STOXX 600 pan -European index.
Philips has said that this year expect an impact of 150 million euros this year to the customs duties established by the administration of the American president Donald Trump, less than the 250 million to 300 million which he had previously estimated.
The impact of customs duties “has evolved and continues to be dynamic,” Philips said in a statement.
The agreement between the United States and the European Union brings clarity, welcomed the CEO of the group, Roy Jakobs, to journalists. He added that the group would continue to request an exemption from customs duties and other trade barriers for the health care sector, including in the United States and China.
Philips also noted its adjusted Ebita margin forecast, which should be between 11.3% and 11.8% for the year, against 10.8% to 11.3% previously planned.
In the second quarter, the adjusted Ebita margin reached 12.4%, exceeding the average forecast of analysts (9.9%).
The quarterly results are “clearly better than expected”, underline Jefferies analysts in a note, stressing the surprise improvement of the margin.
“Better quarter for a long time,” greet JP Morgan analysts.
(Written by Alessandro Parodi in Gdansk; Blandine Hénault)
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