Philips Files 6-K Report

TL;DR

Philips filed a 6-K, standard foreign issuer update.

AI Summary

Koninklijke Philips NV filed a Form 6-K on July 29, 2024, reporting information as of the same date. The filing is for a foreign issuer incorporated in The Netherlands, with its principal executive offices located in Amsterdam. Philips is subject to the 1934 Act and files annual reports under Form 20-F.

Why It Matters

This filing provides routine updates for investors and regulatory bodies regarding Koninklijke Philips NV's status as a foreign issuer.

Risk Assessment

Risk Level: low — This is a routine filing for a foreign issuer and does not contain specific financial or operational disclosures that would indicate immediate risk.

Key Players & Entities

• KONINKLIJKE PHILIPS NV (company) — Registrant
• Royal Philips (company) — Registrant's name in English
• The Netherlands (company) — Jurisdiction of incorporation
• Amsterdam (company) — Location of principal executive offices
• July 29, 2024 (date) — Filing date

FAQ

Filing Documents

• phg-20240630.htm (6-K) — 975KB
• visual0001.jpg (GRAPHIC) — 34KB
• visual0002.jpg (GRAPHIC) — 184KB
• visual0003.jpg (GRAPHIC) — 77KB
• 0000313216-24-000013.txt ( ) — 1361KB

From the Filing

Philips - 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 July 29, 2024 KONINKLIJKE PHILIPS N.V. (Exact name of registrant as specified in its charter) Royal Philips (Translation of registrant’s name into English) The Netherlands (Jurisdiction of incorporation or organization) Breitner Center, Amstelplein 2, 1096 BC Amsterdam, The Netherlands (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): ☐ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒ Name and address of person authorized to receive notices and communications from the Securities and Exchange Commission: M.J. van Ginneken Koninklijke Philips N.V. Amstelplein 2 1096 BC Amsterdam – The Netherlands This report comprises a copy of the following report: “Philips’ Second Quarter Results 2024”, dated July 29, 2024. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf, by the undersigned, thereunto duly authorized at Amsterdam, on the 29th day of July 2024. KONINKLIJKE PHILIPS N.V. /s/ M.J. van Ginneken (Chief Legal Officer) Subsequent events [] Quarterly report Q2 2024 Philips delivers strong order intake growth in the second quarter, margin improvement and sales growth; reiterates full-year outlook Amsterdam, July 29, 2024 Second-quarter highlights  Group sales amounted to EUR 4.5 billion, with comparable sales growth of 2% Comparable order intake increased by 9% Income from operations EUR 816 million, including EUR 538 million insurance income * ) Adjusted EBITA margin increased to 11.1% of sales Operating cash inflow of EUR 89 million, with a free cash outflow of EUR 64 million Roy Jakobs , CEO of Royal Philips: “I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong margin improvement, supported by our productivity program, solid operational cashflow due to improved working capital management and comparable sales growth in line with our plan. Performance improvement was driven by progress on our execution priorities and industry-leading innovations. These included FDA-cleared AI tools within our next-generation cardiovascular ultrasound platform to increase automation and productivity. We continue to focus on enhancing execution, improving end-to-end supply chain resilience and increasing agility and productivity through simplifying our operating model. Patient safety and quality remains our number one priority." Group and segment performance Group comparable sales increased 2%, on the back of strong growth in Q2 2023. Growth in mature and growth geographies was partly offset by the decline in China. Comparable order intake grew 9% in the quarter and 3% in the first half of 2024, reflecting quarterly unevenness in the order-intake pattern. China remains a fundamentally attractive growth market with strong underlying demand while the government’s anti-corruption measures continued to impact short-term hospital order lead times. Adjusted EBITA margin for the group increased to 11.1% compared with 10.1% in Q2 2023, with improvement across all businesses. Free cash outflow was EUR 64 million and included payments of EUR 415 million in connection with the Respironics economic loss settlement in the US, partly offset by initial receipt from insurers of EUR 150 million. In the quarter S&P Global Ratings and Moody’s Ratings upgraded their credit ratings outlook for Philips to stable. Philips now has stable outlooks for its strong credit ratings across all main global credit rating agencies. The relevant reports and additional credit ratings information can be found here. Diagnosis & Treatment comparable sales increased 4%, on the back of double-digit growth in Q2 2023, with growth across Image Guided Therapy and Precision Diagnosis. Adjusted EBITA margin improved to 12.2%, mainly driven by improved sales, pricing and productivity measures. Connected Care comparable sales increased 2%, driven by strong growth in Enterprise Informatics, while Monitoring comparable sales growth was flat on the back of strong double-digit growth in Q2 2023. Ad

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View this 6-K filing on SEC EDGAR