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Dutch healthcare technology giant Philips (EPA:TTEF) forecasted a 1% to 3% increase in comparable sales for 2025 despite ongoing challenges in China. The company missed market expectations for Q4 2024, reporting €5.04 billion ($5.27 billion) in revenue, slightly below analysts’ projections of €5.07 billion.
Philips attributed the weaker performance to a double-digit decline in China sales, which is expected to continue in 2025. The forecast includes a mid- to high-single-digit drop in Chinese revenue and the impact of new U.S.-China tariffs. CEO Roy Jakobs previously stated that China’s contribution to total revenue has fallen to around 10%, down from over 13% earlier in the decade. The company employs over 7,000 people in the country.
Despite the decline, Philips maintained its commitment to growth, with adjusted EBITA reaching €679 million for Q4, slightly below the €683 million analysts expected. The company proposed an annual dividend of €0.85 per share, consistent with the previous year.
Philips, known for its diverse portfolio from medical imaging systems to consumer electronics, had already lowered its 2024 sales forecast in October due to weak demand in China. The company’s ability to navigate global economic shifts, supply chain disruptions, and geopolitical challenges will be critical for its 2025 performance.
With a focus on stabilizing sales and overcoming market headwinds, Philips continues to adapt its strategy amid evolving economic conditions.
