Philips reports strong order growth in Q2 and increased net income

THE HAGUE, July 29 (Xinhua) — Dutch electronics giant Philips on Monday said its second-quarter results saw orders rise by 9 percent compared with the same period last year.

In a press release, Philips CEO Roy Jakobs expressed optimism about the company’s results. “I am encouraged by our return to order growth this quarter, driven primarily by North America.”

The Dutch technology company also reported an increase in net income, which stood at €452 million ($488 million) in the second quarter, compared to €74 million in the same quarter last year.

Sales amounted to EUR 4.5 billion, an increase of 2%.

Philips said it remains confident that it can deliver on its 2025 plan, although it acknowledges the uncertainties that remain.

The company maintains its full-year 2024 like-for-like sales growth forecast of 3 to 5 percent.

“However, this outlook does not take into account the potential impact of ongoing legal proceedings related to Philips Respironics, including the investigation by the U.S. Department of Justice,” it said. (1 euro = 1.08 U.S. dollars)