$PHIA (+0,84 %) | Philips Q3 FY24 Earnings Highlights

🔹 Adjusted EPS: €0.32 (Est. €0.35) 🔴

🔹 Adj EBITA: €516M (Est. €535.1M) 🔴; Margin 11.8%

🔹 Sales: €4.38B (Est. €4.58B) 🔴; Flat Comp Sales Growth

CUTS FY24 Guidance:

🔹 Comparable Sales Growth: 0.5%-1.5% (Prev. 3%-5%) 🔴

🔹 Free Cash Flow: ~€900M (Prev. €900M-€1.1B) 😕

🔹 Adjusted EBITA Margin: ~11.5%

Business Performance & Outlook:

🔹 Order Intake: DOWN -2%, impacted by weak China demand

🔹 China: Significant deterioration in demand led to revised sales outlook

🔹 Non-China Markets: Steady growth of 3%-5%