Koninklijke Philips NV 6-K, filed Apr 26, 2021

Koninklijke Philips NV (PHG)

6-K 2021-04-26 For: 2021-04-26

View Original

Added on April 11, 2026

About this 6-K

Koninklijke Philips NV filed this 6-K on April 26, 2021.

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

	Q1 2020¹⁾	Q1 2021
Sales	3,693	3,827
Nominal sales growth	2%	4%
Comparable sales growth²⁾	(1)%	9%
Comparable order intake²⁾	24%	(5)%
Income from operations	9	(52)
as a % of sales	0.2%	(1.4)%
Financial expenses, net	(19)	(6)
Investments in associates, net of income taxes	(4)	8
Income tax	30	16
Income from continuing operations	17	(34)
Discontinued operations, net of income taxes	22	73
Net income	39	40
Earnings per common share (EPS)
Income from continuing operations attributable to shareholders³⁾ (in EUR) - diluted	0.02	(0.04)
Adjusted income from continuing operations attributable to shareholders³⁾ (in EUR) - diluted²⁾	0.14	0.28
Net income attributable to shareholders³⁾ (in EUR) - diluted	0.04	0.04
EBITA²⁾	92	61
as a % of sales	2.5%	1.6%
Adjusted EBITA²⁾	208	362
as a % of sales	5.6%	9.5%
Adjusted EBITDA²⁾	445	579
as a % of sales	12.0%	15.1%

			% change
	Q1 2020	Q1 2021	nominal	comparable¹⁾
Western Europe	733	791	8%	9%
North America	1,585	1,534	(3)%	2%
Other mature geographies	424	454	7%	12%
Total mature geographies	2,741	2,779	1%	5%
Growth geographies	951	1,048	10%	21%
Philips Group	3,693	3,827	4%	9%

	Q1 2020	Q1 2021
Beginning cash balance	1,425	3,226
Free cash flow¹⁾	(15)	169
Net cash flows from operating activities	181	321
Net capital expenditures	(196)	(152)
Other cash flows from investing activities	(20)	(2,891)
Treasury shares transactions	(143)	3
Changes in debt	956	457
Other cash flow items	(13)	47
Net cash flows from discontinued operations	(47)	69
Ending cash balance	2,143	1,080
of which discontinued operations		40
of which continuing operations		1,040

	December 31, 2020	March 31, 2021
Long-term debt	5,705	5,877
Short-term debt	1,229	1,742
Total debt	6,934	7,619
Cash and cash equivalents	3,226	1,040
Net debt	3,708	6,579
Shareholders' equity	11,870	12,493
Non-controlling interests	31	33
Group equity	11,901	12,526
Net debt : group equity ratio¹⁾	24:76	34:66

	Q1 2020	Q1 2021
Sales	1,827	1,856
Sales growth
Nominal sales growth	6%	2%
Comparable sales growth¹⁾	2%	9%
Income from operations	9	93
as a % of sales	0.5%	5.0%
EBITA¹⁾	41	178
as a % of sales	2.2%	9.6%
Adjusted EBITA¹⁾	117	162
as a % of sales	6.4%	8.7%
Adjusted EBITDA¹⁾	189	228
as a % of sales	10.3%	12.3%

Koninklijke Philips NV 6-K, filed Apr 26, 2021

About this 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

KONINKLIJKE PHILIPS N.V.

Royal Philips

The Netherlands

Breitner Center, Amstelplein 2, 1096 BC Amsterdam, The Netherlands

Q1 2021

Philips delivers Q1 sales of EUR 3.8 billion, with 9% comparable sales growth; net income amounts to EUR 40 million and Adjusted EBITA margin improves 390 basis points to 9.5%

First-quarter highlights

Frans van Houten, CEO

Business segment performance

Cost savings

Regulatory update

Domestic Appliances

Conference call and audio webcast

Philips performance

Performance per segment

Diagnosis & Treatment businesses

Connected Care businesses

Personal Health businesses

Other

Forward-looking statements and other important information

Forward-looking statements

Third-party market share data

Market Abuse Regulation

Use of non-IFRS information

Fair value information

Presentation

Condensed consolidated statements of income

Reconciliation of non-IFRS information

Philips statistics

© 2021 Koninklijke Philips N.V.

	Q1
	2020	2021
Sales	3,693	3,827
Cost of sales	(2,042)	(2,340)
Gross margin	1,651	1,487
Selling expenses	(1,019)	(986)
General and administrative expenses	(149)	(173)
Research and development expenses	(466)	(424)
Other business income	3	50
Other business expenses	(10)	(6)
Income from operations	9	(52)
Financial income	33	36
Financial expenses	(52)	(42)
Investment in associates, net of income taxes	(4)	8
Income before taxes	(14)	(50)
Income tax expense	30	16
Income from continuing operations	17	(34)
Discontinued operations, net of income taxes	22	73
Net income	39	40
Attribution of net income
Income from continuing operations attributable to shareholders¹⁾	16	(34)
Net income attributable to shareholders¹⁾	38	39
Net income attributable to non-controlling interests	1	1
Earnings per common share
Weighted average number of common shares outstanding (after deduction of treasury shares) during the period (in thousands):¹⁾
- basic	907,382	905,240
- diluted	915,760	913,837
Income from continuing operations attributable to shareholders¹⁾
- basic	0.02	(0.04)
- diluted	0.02	(0.04)
Net income attributable to shareholders¹⁾
- basic	0.04	0.04
- diluted	0.04	0.04

	Q1 2021
	nominal growth	consolidation changes	currency effects	comparable growth
2021 versus 2020
Diagnosis & Treatment	1.6%	0.0%	7.4%	9.0%
Connected Care	4.9%	(5.9)%	7.6%	6.5%
Personal Health	9.9%	0.0%	7.5%	17.3%
Philips Group	3.6%	(1.8)%	7.3%	9.1%

	Philips Group	Diagnosis & Treatment	Connected Care	Personal Health	Other
Q1 2021
Net income	40
Discontinued operations, net of income taxes	(73)
Income tax expense	(16)
Investments in associates, net of income taxes	(8)
Financial expenses	42
Financial income	(36)
Income from operations	(52)	93	(158)	100	(87)
Amortization and impairment of acquired intangible assets	113	84	24	4	1
EBITA	61	178	(134)	104	(86)
Restructuring and acquisition-related charges	9	(17)	22	1	3
Other items	292	2	260	-	30
Adjusted EBITA	362	162	149	105	(53)

Q1 2020
Net income	39
Discontinued operations, net of income taxes	(22)
Income tax expense	(30)
Investments in associates, net of income taxes	4
Financial expenses	52
Financial income	(33)
Income from operations	9	9	44	38	(82)
Amortization and impairment of acquired intangible assets	84	32	34	4	14
EBITA	92	41	78	42	(68)
Restructuring and acquisition-related charges	61	43	11	7	1
Other items	55	33	20	-	1
Adjusted EBITA	208	117	109	49	(66)

	January to March
	2020	2021
Net cash provided by operating activities	181	321
Net capital expenditures	(196)	(152)
Purchase of intangible assets	(25)	(15)
Expenditures on development assets	(74)	(60)
Capital expenditures on property, plant and equipment	(103)	(78)
Proceeds from disposals of property, plant and equipment	6	1
Free cash flow	(15)	169

	2020				2021
	January-March	January-June	January-September	January-December	January-March	January-June	January-September	January-December
Sales	3,693	7,667	12,078	17,313	3,827
Comparable sales growth¹⁾	(1)%	(3)%	2%	3%	9%
Comparable order intake¹⁾	24%	26%	10%	9%	(5)%
Gross margin	1,651	3,310	5,295	7,820	1,487
as a % of sales	44.7%	43.2%	43.8%	45.2%	38.9%
Selling expenses	(1,019)	(1,984)	(2,955)	(4,064)	(986)
as a % of sales	(27.6)%	(25.9)%	(24.5)%	(23.5)%	(25.8)%
G&A expenses	(149)	(304)	(460)	(620)	(173)
as a % of sales	(4.0)%	(4.0)%	(3.8)%	(3.6)%	(4.5)%
R&D expenses	(466)	(901)	(1,357)	(1,822)	(424)
as a % of sales	(12.6)%	(11.8)%	(11.2)%	(10.5)%	(11.1)%
Income from operations	9	214	610	1,264	(52)
as a % of sales	0.2%	2.8%	5.1%	7.3%	(1.4)%
Net income	39	249	588	1,195	40
Income from continuing operations attributable to shareholders²⁾ per common share (in EUR) - diluted	0.02	0.23	0.53	1.08	(0.04)
Adjusted income from continuing operations attributable to shareholders²⁾ per common share (in EUR) - diluted¹⁾³⁾	0.14	0.41	0.91	1.74	0.28
EBITA¹⁾	92	456	912	1,784	61
as a % of sales	2.5%	5.9%	7.6%	10.3%	1.6%
Adjusted EBITA¹⁾	208	598	1,282	2,277	362
as a % of sales	5.6%	7.8%	10.6%	13.2%	9.5%
Adjusted EBITDA¹⁾	445	1,075	1,999	3,262	579
as a % of sales	12.0%	14.0%	16.6%	18.8%	15.1%
Number of common shares outstanding (after deduction of treasury shares) at the end of period (in thousands)	887,579	891,301	909,472	905,128	905,289
Shareholders' equity per common share (in EUR)	13.66	12.29	12.89	13.11	13.80
Net debt : group equity ratio¹⁾	28:72	31:69	29:71	24:76	34:66
Total employees of continuing operations	73,568	73,675	73,982	75,001	77,343