Strong sales gains in its diagnostic imaging, ultrasound, and image-guided therapy segments powered Philips' Diagnosis & Treatment division to a 9% increase in comparable sales in its first quarter.
For the period (end-March 31), Philips' Diagnosis and Treatment business garnered sales of 1.86 billion euros ($2.24 billion U.S.), up 1.5% from the 1.83 billion euros ($2.21 billion) reported in the same period a year ago. After adjustment for currency effects, sales grew 9%, according to the company.
The company's diagnostic imaging segment led the way with double-digit sales growth after adjusting for currency changes, followed by high-single-digit growth in ultrasound as well as enterprise diagnostic informatics, according to the vendor. Its image-guided therapy segment also produced mid-single-digit growth. In addition, comparable order intake increased by 11%.
On a regional basis, Philips' Diagnosis & Treatment business achieved double-digit growth in China and mid-single-digit growth in mature geographies. However, the company said that high-single-digit growth in Western Europe and double-digit growth in other mature geographies were partly offset by flat growth in North America.
The business had first-quarter adjusted earnings before interest, taxes, and amortization (EBITA) of 162 million euros ($195.8 million), compared with 117 million euros ($141.4 million) in the 2020 first quarter. The higher quarterly profit was mainly due to sales growth and productivity measures, according to Philips.
