Q2 2026 Koninklijke Philips NV Earnings Call Transcript
Key Points
- Koninklijke Philips NV (PHG) reported a 4% growth in comparable sales, driven by growth across all segments.
- The adjusted EBITDA margin increased to 16.4%, including a tariff refund benefit.
- Order intake grew by 5% on a rolling 12-month basis, indicating strong commercial momentum.
- The company completed the US tariff refund process, demonstrating agility in a changing environment.
- Strong performance in North America and Europe, with significant order growth and large customer agreements secured.
- Order intake declined by 1% in Q2 due to certain larger monitoring orders moving to Q3.
- Continued weakness in the Chinese market, impacting the Diagnosis and Treatment segment.
- Cost inflation and higher tariffs exerted pressure on margins, with underlying adjusted EBITDA margin at 12.2% excluding the tariff refund.
- Enterprise Informatics sales declined mid-single-digit, reflecting the timing of order conversion.
- The company faces ongoing challenges related to Philips Respironics-related proceedings, including investigations by the U.S. Department of Justice.
Good morning, everyone. I'm here with our CEO, Roy Jakobs, and our CFO, Shalata Hahnemann. Before we begin, I would like to acknowledge that due to an administrative error, Philip's second quarter 2026 results were inadvertently published last evening ahead of our scheduled release. As a result, we brought this webcast forward by two hours.
We apologize for any inconvenience this may have caused, and thank you for joining us on short notice. Our results press release and presentation are available on our investor relations website. The replay and full transcript of this webcast will be available on our website after this call concludes. I want to draw your attention to our safe harbor statement on the screen and in the presentation.
I will now hand over to Roy.
Good morning, everyone. Thank you for joining us. I will start with an overview of our Q2 results and outlook for the balance of the year. We delivered in line
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