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Koninklijke Philips NV (PHG)

PHG on New York Consolidated

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18 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Philips Lighting Q3 adjusted EBITDA up at 176 million euros
1:07am EDT 

Oct 19 (Reuters) - PHILIPS LIGHTING NV ::Q3 ADJUSTED EBITA EUR ‍​176 MILLION VERSUS EUR 176 MILLION IN REUTERS POLL.REUTERS POLLS:Q3 NET IMCOME EUR 87.4 MILLION; Q3 SALES EUR 1.73 BILLION.‍Q3 SALES OF EUR 1,684 MILLION, WITH AN INCREASE IN COMPARABLE SALES OF 1.3%​.Q3 NET INCOME EUR 110‍​ MILLION VERSUS EUR 51 MILLION YEAR AGO.‍ON TRACK TO IMPROVE OUR ADJUSTED EBITA MARGIN BY 50-100 BASIS POINTS FOR FULL YEAR​.‍ ADJUSTED EBITA MARGIN GUIDANCE EXCLUDING A EUR 15 MILLION REAL ESTATE GAIN IN Q2​.‍EXPECT A STRONG FREE CASH FLOW IN Q4 BASED ON A SUBSTANTIAL REDUCTION IN INVENTORIES​.  Full Article

Philips receives FDA 510(k) clearance for 'small parts' ultrasound imaging solution
Friday, 13 Oct 2017 10:00am EDT 

Oct 13 (Reuters) - KONINKLIJKE PHILIPS NV ::PHILIPS RECEIVES U.S. FDA 510(K) CLEARANCE TO MARKET ITS SOLUTION FOR 'SMALL PARTS' ULTRASOUND IMAGING.  Full Article

Philips' subsidiary Philips North America LLC reaches agreement with U.S. DoJ, representing FDA
Wednesday, 11 Oct 2017 01:24am EDT 

Oct 11 (Reuters) - KONINKLIJKE PHILIPS NV ::PHILIPS REACHES AGREEMENT WITH THE U.S. GOVERNMENT ON A CONSENT DECREE FOCUSING ON THE COMPANY’S DEFIBRILLATOR MANUFACTURING IN THE U.S..ITS SUBSIDIARY PHILIPS NORTH AMERICA LLC REACHED AGREEMENT ON CONSENT DECREE WITH U.S. DOJ, REPRESENTING FDA‍​.‍ANTICIPATES AN EBITA IMPACT OF APPROXIMATELY EUR 20 MILLION IN Q4 OF 2017 AND APPROXIMATELY EUR 60 MILLION IN 2018​.AGREEMENT ON CONSENT DECREE RELATED TO COMPLIANCE WITH CURRENT GOOD MANUFACTURING PRACTICE REQUIREMENTS ARISING FROM PAST INSPECTIONS IN AND BEFORE 2015.DECREE WILL BECOME EFFECTIVE ONCE IT IS APPROVED BY THE U.S. DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS..INSPECTIONS IN AND BEFORE 2015 PRIMARILY ON PHILIPS’ ECR BUSINESS OPERATIONS IN ANDOVER (MASSACHUSETTS) AND BOTHELL (WASHINGTON).UNDER DECREE, PHILIPS WILL SUSPEND MANUFACTURE AND DISTRIBUTION OF EXTERNAL DEFIBRILLATORS MANUFACTURED AT THESE FACILITIES.SUSPENSION, SUBJECT TO CERTAIN EXCEPTIONS, UNTIL FDA CERTIFIES FACILITIES’ COMPLIANCE WITH QUALITY SYSTEM REGULATION.IMPACTS ON EDBITDA RELATE TO SUSPENSION OF PRODUCTION, PROFIT DISGORGEMENT PAYMENTS AND INCREMENTAL COSTS TO PREPARE FOR AND HANDLE THE REGULATORY INSPECTIONS.AMOUNTS WILL NOT IMPACT ADJUSTED EBITA IN 2017 AND 2018, RESPECTIVELY.COMBINED SALES OF EXTERNAL DEFIBRILLATOR PRODUCT LINES AFFECTED BY TERMS OF DECREE WAS ABOUT EUR 35 MILLION PER QUARTER IN 2016.  Full Article

Philips and Indonesian Siloam Hospitals sign multi-year partnership agreement
Thursday, 5 Oct 2017 03:07am EDT 

Oct 5 (Reuters) - KONINKLIJKE PHILIPS NV ::‍PHILIPS AND INDONESIAN SILOAM HOSPITALS SIGN MULTIYEAR PARTNERSHIP AGREEMENT​.‍PHILIPS TO PROVIDE 21 SILOAM HOSPITALS ACROSS INDONESIA WITH MAINTENANCE AND SERVICES FOR ALL PHILIPS HEALTH TECHNOLOGY​.  Full Article

Philips demonstrates efficacy of Stellarex .035" low-dose drug-coated balloon in clinical trial at two years
Thursday, 14 Sep 2017 03:34pm EDT 

Sept 14 (Reuters) - Koninklijke Philips Nv ::Efficacy of Philips' Stellarex .035" low-dose drug-coated balloon demonstrated in clinical trial at two years.Koninklijke Philips NV says ‍data shows Stellarex demonstrates higher efficacy and patency results, longer treatment durability compared to uncoated balloon​.Koninklijke Philips NV -‍ 2 year data from ILLUMENATE EURCT validates durable clinical performance of Stellarex low-dose drug-coated balloon​.  Full Article

Koninklijke Philips reclassified to health care sector by MSCI‍​
Monday, 4 Sep 2017 06:10am EDT 

Sept 4 (Reuters) - KONINKLIJKE PHILIPS NV ::PHILIPS RECLASSIFIED TO HEALTH CARE SECTOR BY MSCI‍​.RECLASSIFICATION EFFECTIVE AS OF OPENING OF EUROPEAN MARKETS ON SEPTEMBER 1, 2017.  Full Article

Koninklijke Philips prices offering of notes for 1.0 billion euros
Thursday, 31 Aug 2017 12:38pm EDT 

Aug 31 (Reuters) - KONINKLIJKE PHILIPS NV ::SUCCESSFULLY PRICES OFFERING OF NOTES FOR EUR 1.0 BILLION.ISSUE PRICE FOR FLOATING RATE NOTES IS 100.300% WITH A COUPON OF 3M EURIBOR + 20 BASIS POINTS.ISSUE PRICE FOR FIXED RATE NOTES IS 99.465% WITH A COUPON OF 0.500%, RESULTING IN A YIELD OF 0.591%.SETTLEMENT AND ISSUE OF NOTES IS SCHEDULED FOR SEPTEMBER 6, 2017.NET PROCEEDS OF OFFERING WILL BE USED FOR REPAYMENT OF EUR 1.0 BILLION BRIDGE LOAN.  Full Article

Philips and HeartFlow announce global collaboration agreement
Monday, 28 Aug 2017 04:00am EDT 

Aug 28 (Reuters) - KONINKLIJKE PHILIPS NV ::PHILIPS AND HEARTFLOW ANNOUNCE GLOBAL COLLABORATION AGREEMENT.  Full Article

Gigastorage files third trial appeal against Royal Philips of the Netherlands
Monday, 31 Jul 2017 04:33am EDT 

July 31 (Reuters) - Gigastorage Corp <2406.TW> ::* Says the company files a third trial appeal against Royal Philips of the Netherlands with Intellectual Property Court, on July 31, regarding DVD optical disk patent infringement case.* In the second trial, the company was ordered to pay T$1.05 billion to Royal Philips of the Netherlands.  Full Article

Philips Lighting Q2 net income rises to 73 million euros
Friday, 21 Jul 2017 01:14am EDT 

July 21 (Reuters) - PHILIPS LIGHTING NV ::H1 SALES AMOUNTED TO EUR 3,389 MILLION.REG-PHILIPS LIGHTING REPORTS SECOND QUARTER SALES OF EUR 1.7 BILLION AND OPERATIONAL PROFITABILITY OF 10.2%.Q2 ADJUSTED EBITA OF EUR 174 MILLION (Q2 2016: EUR 161 MILLION).Q2 NET INCOME OF EUR 73 MILLION (Q2 2016: EUR 57 MILLION).ON TRACK TO FURTHER IMPROVE ADJUSTED EBITA MARGIN BY 50-100 BASIS POINTS FOR FULL YEAR.ON TRACK TO DELIVER SOLID FREE CASH FLOW FOR FY.WHILE WE ARE CAUTIOUS GIVEN GLOBAL ECONOMIC UNCERTAINTY, WE ARE CONFIDENT THAT WE WILL RETURN TO POSITIVE COMPARABLE SALES GROWTH IN COURSE OF THIS YEAR.  Full Article

Philips sees profit hit from U.S. defibrillator blow

AMSTERDAM Health technology company Philips is suspending the manufacture of some defibrillators in the United States and will make others under heightened scrutiny following criticisms from U.S. regulators, in a move it said would dent profits.