Philips managed to double its net profit attributable to shareholders this quarter to €181 million, compared to €88 million recorded last year.
The Dutch multinational Philips announced this Monday that it had losses of 367 million euros until September, which represents a reduction compared to the losses of 505 million euros recorded in the same period of the previous year.
The business group also stated in a statement that it revised downwards its sales growth forecast for the end of the year, which It is due to the “deterioration of demand in China”.
However, in the third quarter, the Philips managed to double the net profit attributed to shareholders to €181 millionwhich compares with the 88 million euros registered in the same quarter of 2023.
The company also explains that its Restructuring, acquisitions and other expenses amounted to €870 million through Septembervalue 27% lower than that registered in the same period of the previous year.
In the third quarter, this item fell 30.2% year-on-year, to 113 million euros.
In the first nine months of the year, Philips sales reached 12,977 million euros, 1% less, and between July and September they fell 2.1%, reaching 4,377 million euros, the statement highlights.
Source: Observadora
