Royal Philips, the parent company of Philips Healthcare, reported an increase in sales for its second quarter, driven primarily by growth in its Diagnosis and Treatment division.
For the period (end-June 30), Philips recorded $5.3 billion (4.7 billion euros) in total sales. The firm noted 6% growth in sales and 8% growth in orders compared with the same quarter last year after adjustment for currency changes. The growth came despite unfavorable changes to currency and tariff conditions.
Philips' margin for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved to 11.8% of sales in the quarter, compared with 11.2% in the second quarter of 2018.
Philips' Diagnosis and Treatment division led the increase in comparable sales, with double-digit growth in its Image-Guided Therapy section, as well as double-digit growth for order intake in China and Western Europe. The firm also reported a 6% increase in sales in its Connected Care division and a 5% increase in sales in its Personal Health division.
