COVID-19 lowered sales by 5ppt in Q1 as increased demand for professional healthcare products was more than offset by the decline in demand for personal health products, particularly in China. Lower sales and an unfavourable product mix suppressed profitability. Considering that the virus has spread to the western world, Q2 is expected to be worse. Nonetheless, management anticipates a recovery in H2 and thus guided for modest sales growth and margin improvement for FY20. Robust order intake
21 Apr 2020
Weak start; Q2 to be worse but recovery guided for H2
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Weak start; Q2 to be worse but recovery guided for H2
Koninklijke Philips N.V. (PHIA:WBO) | 0 0 1.5% | Mkt Cap: 29,653m
- Published:
21 Apr 2020 -
Author:
Sumit Sayal -
Pages:
4
COVID-19 lowered sales by 5ppt in Q1 as increased demand for professional healthcare products was more than offset by the decline in demand for personal health products, particularly in China. Lower sales and an unfavourable product mix suppressed profitability. Considering that the virus has spread to the western world, Q2 is expected to be worse. Nonetheless, management anticipates a recovery in H2 and thus guided for modest sales growth and margin improvement for FY20. Robust order intake