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Philips Healthcare Showed 3% Sales Growth In 2011

Published on 30 Jan 2012

Philips Healthcare sales grew three percent to EUR 2.72 billion, driven by growth in most businesses, notably Customer Services and Home Healthcare Solutions. From a regional perspective, comparable sales in North America grew six percent. Sales in growth geographies grew five percent. Earnings (EBITA) came in at EUR 409 million, or 15 percent of sales. Market weakness in Europe led to postponement of deliveries and affected margin improvement plans for Imaging Systems. Comparable equipment order intake grew three percent year-on-year. Equipment orders in growth geographies grew by 17 percent.

Philips also announced its full-year 2011 results: Philips Healthcare sales grew five percent on a comparable basis to EUR 8.85 billion from EUR 8.60 billion in 2010. EBITA came in at EUR 1.15 billion, or 12.9 percent of sales.
“We are cautious about 2012 given the uncertainty in the global economy, and Europe in particular…while we are concerned about the economic environment, all of us at Philips are fully committed to improve our operational performance to achieve our mid-term (2013) financial targets,” said Frans van Houten, CEO of Royal Philips Electronics.

Philips Healthcare also noted several business highlights:

•         Philips signed a partnership agreement with Farrar Park Hospital of Singapore to provide its new hospital with workflow consulting, hospital equipment planning, project management and procurement services, as well as exclusively supplying multi-modality Philips equipment. This is the largest multi-modality solution project for the company’s ASEAN region.
•         Resulting from Philips’ continued investments in innovation, the company has received 510(k) clearance from the Food and Drug Administration (FDA) to market its whole-body PET/MR imaging system, the Ingenuity TF PET/MR, and its HeartNavigator interventional tool in the US. In addition, the company has introduced the next-generation mammography solution, Philips MicroDose, in the US.
•         Delivering on its commitment to provide tailor-made solutions, Philips signed a multi-year strategic partnership agreement with Baptist Health South Florida whereby Philips will provide a comprehensive Radiology and Cardiovascular Image Management System and a Cardiovascular Information System solution across their six hospitals and 19 outpatient centers.
•         Facilitating aging populations to live independently, Philips has expanded its Lifeline personal emergency response service to Japan. The intended approach is to sign up customers through referrals from health care providers and via sales at large stores, like retail giant Aeon Co.
•         Demonstrating the clinical benefits and significant cost-saving of remote patient monitoring, the UK Department of Health released the initial results of the largest randomized, controlled trial of telecare and telehealth in the world to date. Philips had provided its telehealth technology and expertise to the study.

Additional information about Philips Q4 earnings, including Healthcare business highlights and financial performance can be found at: http://www.newscenter.philips.com/main/corpcomms/news/press/2012/20120130_q4.wpd

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Product type:	Healthcare | Individual Health and Disability

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