Philips publishes transcript of Q1 2026 results conference call

• Koninklijke Philips NV hosted Q1 2026 results conference call on May 6 with CEO Roy Jakobs, CFO Charlotte Hanneman, head of investor relations Durga Doraisamy; Q&A included analysts from Barclays, Goldman Sachs, J.P. Morgan, Citi, Jefferies, BNP Paribas, Morgan Stanley, UBS.
• Order intake rose 6% with comparable sales up 3.7%; adjusted EBITA margin improved 40 bps to 9% despite tariffs, supported by mix, productivity, higher-margin innovations; free cash flow was EUR 28 million.
• Full-year outlook reiterated: comparable sales growth 3%-4.5%, adjusted EBITA margin 12.5%-13%, free cash flow EUR 1.3-1.5 billion; management flagged Middle East-related logistics volatility and input cost inflation, with margin pressure expected in Q2 and mitigation benefits back-end loaded.
• China remained subdued as centralized procurement hit CT and ultrasound pricing; management expects China sales to be stable for year, with Personal Health growth offsetting a slight Health Systems decline, while MR and image-guided therapy were described as more protected from procurement pressure.
• North America described as key growth engine with sustained strength in procedures and large-system demand; management highlighted traction in enterprise monitoring-as-a-service and long-term partnerships, including a strategic deal signed in April with WellSpan Health.

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