janv. 24, 2022
Résultats du quatrième trimestre et de l'année 2021 de Philips
Philips réalise un chiffre d'affaires de 4,9 milliards d'euros au quatrième trimestre et un résultat opérationnel de 139 millions d'euros ; la marge d'EBITA ajusté atteint 13,1 % et le cash-flow opérationnel 720 millions d'euros ; une bonne demande entraîne une croissance à un chiffre des commandes
Chiffres clés du quatrième trimestre Chiffres clés de l'année Frans van Houten, CEO de Royal Philips : « Au quatrième trimestre, nous avons enregistré un chiffre d'affaires de 4,9 milliards d'euros, reflétant une baisse des ventes de 10 % à périmètre comparable, avec une marge d'EBITA ajusté de 13,1 %. Comme nous l'avions annoncé le 12 janvier 2022, les ventes ont été impactées par plusieurs obstacles, en l'occurrence les défis liés à la chaîne d'approvisionnement, le report d'installations d'équipements dans les hôpitaux liés au COVID-19 et les conséquences des actions de terrain Respironics.
Notre stratégie et notre portefeuille continuent de trouver un écho favorable auprès des clients et des consommateurs, générant une bonne demande de nos produits et solutions. Pour l'ensemble de l'année, je suis satisfait de la croissance des ventes de 8 % à périmètre comparable dans le secteur « Diagnosis & Treatment » et de 9 % dans le secteur « Personal Health ». Les ventes du secteur « Connected Care » ont diminué, entraînant une baisse des ventes de 1 % à périmètre comparable pour le groupe. Les obstacles mentionnés précédemment ont eu un impact combiné de 5 points de pourcentage sur les ventes du groupe à périmètre comparable sur toute l'année.
L'augmentation des commandes du groupe à périmètre comparable est également restée soutenue tout au long de l'année, avec une hausse de 4 % sur l'ensemble de l'année, tirée par une progression à deux chiffres du secteur « Diagnosis & Treatment ». La croissance à un chiffre élevé des commandes du groupe à périmètre comparable en 2020 se traduit par un carnet de commandes record. En 2021, nous avons signé 80 partenariats stratégiques à long terme et lancé des innovations, telles que le Spectral CT 7500 pour faciliter le diagnostic de précision. Nous avons aussi étendu notre plateforme de thérapie guidée par l'image Azurion avec des applications révolutionnaires afin d'innover dans les traitements peu invasifs. Nous avons également continué à aider les consommateurs à mieux prendre soin de leur santé grâce à nos offres de soins de santé personnels.
Le bien-être des patients est au cœur de toutes les initiatives de Philips. Nous sommes déterminés à réparer et à remplacer les appareils liés à la procédure de rappel Philips Respironics. Nous menons un programme complet de tests et de recherches et avons fourni en décembre dernier des informations sur les résultats positifs des tests de composés organiques volatils (COV) liés aux appareils DreamStation de première génération.
Compte tenu de la bonne demande des clients et de l'augmentation de notre carnet de commandes, nous devrions reprendre le cap de la croissance et de la hausse des marges en 2022. À court terme, nous sommes toujours confrontés à une importante volatilité et à des vents contraires liés au COVID-19 et aux défis de la chaîne d'approvisionnement, en dépit de nos efforts continus d'atténuation. Compte tenu de cette situation, des actions de terrain Respironics et de la croissance des ventes de 9 % à périmètre comparable au premier trimestre 2021, nous prévoyons de commencer l'année avec une baisse des ventes à périmètre comparable, suivie d'une reprise et d'un solide second semestre. Pour l'ensemble de l'année, nous visons une croissance des ventes de 5 à 6 % à périmètre comparable, à l'exclusion du secteur « Sleep & Respiratory Care ». Pour le groupe, nous visons une croissance des ventes entre 3 à 5 % à périmètre comparable et une amélioration de 40 à 90 points de base de la marge d'EBITA ajusté. »
Business segment performance The Connected Care businesses’ comparable order intake declined 10% on the back of high COVID-19-generated demand in Q4 2020. Hospital Patient Monitoring orders showed continued growth in Q4 2021, driven by the ongoing structural increase in adoption of patient care management solutions in both high- and low-acuity care settings in the hospital. Comparable sales decreased 32% in the fourth quarter following the aforementioned high COVID-19-generated demand in Q4 2020, and a double-digit decline in Sleep & Respiratory Care in Q4 2021, because of the Respironics field action. The Adjusted EBITA margin amounted to 11.7% in the quarter, mainly impacted by the decline in sales. For the full year, the Connected Care businesses recorded a 23% comparable sales decrease and an Adjusted EBITA margin of 10.6%. The Personal Health businesses’ comparable sales decreased 3%, mainly impacted by supply chain shortages. The Adjusted EBITA margin increased to 21.6%, mainly driven by productivity measures. For the full year, the Personal Health businesses delivered 9% comparable sales growth and an increased Adjusted EBITA margin of 17.6%. Philips’ ongoing focus on innovation and partnerships resulted in the following key developments in the quarter and the year:
Driven by Philips’ attractive portfolio, comparable order intake for the Diagnosis & Treatment businesses increased 10%, with double-digit growth in Image-Guided Therapy and mid-single digit growth in Ultrasound in the fourth quarter. Comparable sales were in line with Q4 2020, with double-digit growth in Image-Guided Therapy, offset by declines in Ultrasound and Diagnostic Imaging. The Adjusted EBITA margin was 13.0% in the quarter, mainly impacted by lower sales due to supply chain headwinds. For the full year, the Diagnosis & Treatment businesses recorded 8% comparable sales growth and an Adjusted EBITA margin of 12.4%.
Capital allocation In the fourth quarter, Philips completed the EUR 1.5 billion share repurchase program for capital reduction purposes that was initiated in the first quarter of 2019. Under the share buyback program that was announced on July 26, 2021, Philips acquired a total of approximately 21.8 million shares in the fourth quarter and in January 2022 through open market purchases. In previous quarters, Philips had already entered into a number of forward transactions with settlement dates in 2022, 2023 and 2024. Philips completed the cancellation of 33.5 million of its shares that were acquired under both repurchase programs. Further details on Philips’ current repurchase program and previous programs can be found here.
Philips Respironics field action As announced on January 12, 2022, Philips Respironics is increasing the field action provision by EUR 220 million, mainly due to the higher volume of registered devices eligible for remediation, following the comprehensive customer and patient outreach program in the fourth quarter, and increased supply costs. Philips Respironics has submitted a comprehensive response and action plan in connection with the November 2021 Form-483 to the FDA, which are being evaluated. Philips Respironics continues to engage with the FDA and other relevant competent authorities. In December 2021, Philips provided an update on the VOC test results to date for the first-generation DreamStation devices. The results indicate that the VOC concentrations are within safe exposure limits specified in the applicable safety standard (ISO 18562). Comprehensive particulate testing and analyses are expected to be completed in the second quarter of 2022. To date, Philips Respironics has produced a total of approximately 1.5 million repair kits and replacement devices – of which approximately 750,000 have reached customers – and aims to complete the repair and replacement program in the fourth quarter of 2022. As previously disclosed, in relation to the affected devices, Philips Respironics is a defendant in several class-action lawsuits and individual personal injury claims. Given the uncertain nature and timing of the relevant events and potential associated obligations, if any, the company is unable to reliably estimate the financial effect of these matters.
Cost savings Gross cost savings amounted to EUR 91 million in the fourth quarter, and EUR 398 million for the full year 2021. After deducting cost increases related to increases in supply costs, net savings amounted to EUR 19 million in the fourth quarter, and EUR 279 million for the full year.
Report
Presentation
Conference call and audio webcast A conference call with Frans van Houten, CEO, and Abhijit Bhattacharya, CFO, to discuss the results will start at 10:00AM CET, January 24, 2022. A live audio webcast of the conference call will be available through the link below. Q4 2021 – Fourth quarter 2021 results conference call audio webcast More information about Frans van Houten and Abhijit Bhattacharya Click here for Mr. van Houten's CV and images Click here for Mr. Bhattacharya's CV and images
Visit our interactive results hub for more on our financial and sustainability performance over the past quarter, including the latest version of our dynamic Lives Improved world map.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Forward-looking statements and other important information
Forward-looking statements These factors include but are not limited to: changes in industry or market circumstances; economic, political and societal changes; Philips’ increasing focus on health technology and solutions; the successful completion of divestments; the realization of Philips' objectives in growth geographies; business plans and integration of acquisitions; securing and maintaining Philips’ intellectual property rights, and unauthorized use of third-party intellectual property rights; COVID-19 and other pandemics; breaches of cybersecurity; IT system changes or failures; the effectiveness of our supply chain; challenges to drive operational excellence, productivity and speed in bringing innovations to market; attracting and retaining personnel; future trade arrangements following Brexit; compliance with regulations and standards, including quality, product safety and data privacy; compliance with business conduct rules and regulations; treasury risks and other financial risks; tax risks; costs of defined-benefit pension plans and other post-retirement plans; reliability of internal controls, financial reporting and management process. As a result, Philips’ actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Risk management chapter included in the Annual Report 2020. Philips has recognized a provision related to the voluntary recall notification in the US/field safety notice outside the US for certain sleep and respiratory care products, based on Philips’ best estimate for the expected field actions. The future developments are subject to significant uncertainties, which require management to make estimates and assumptions about items such as quantities, costs to repair or replace, and duration. Actual outcomes in future periods may differ from these estimates and affect the company's results of operations, financial position and cash flows. Third-party market share data Statements regarding market share, contained in this document, including those regarding Philips’ competitive position, are based on outside sources such as specialized research institutes, industry and dealer panels in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management's estimates of rankings are based on order intake or sales, depending on the business. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. This press release was distributed at 07:00 am CET on January 24, 2022. Use of non-IFRS information In presenting and discussing the Philips Group’s financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2020. Use of fair value information In presenting the Philips Group’s financial position, fair values are used for the measurement of various items in accordance with the applicable accounting standards. These fair values are based on market prices, where available, and are obtained from sources that are deemed to be reliable. Readers are cautioned that these values are subject to changes over time and are only valid at the balance sheet date. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. Such fair value estimates require management to make significant assumptions with respect to future developments, which are inherently uncertain and may therefore deviate from actual developments. Critical assumptions used are disclosed in the Annual Report 2020. In certain cases independent valuations are obtained to support management’s determination of fair values. Presentation AAll amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2020 except for the adoption of new standards and amendments to standards which are also expected to be reflected in the company's consolidated IFRS financial statements as at and for the year ending December 31, 2021. On September 1, 2021, Philips completed the sale of the Domestic Appliances business. The results of this transaction, which Philips announced on March 25, 2021, are presented under Discontinued Operations in this report. Comparative results have been restated to reflect the treatment of the Domestic Appliances business as a discontinued operation since Q1 2021. Further details of the restatement have been published on the Philips Investor Relations website and can be accessed here. Prior-period amounts have been reclassified to conform to the current-period presentation; this includes immaterial organizational changes.
This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include: statements made about our strategy; estimates of sales growth; future Adjusted EBITA; future restructuring and acquisition-related charges and other costs; future developments in Philips’ organic business; and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.
Sujets
Contact
Business Highlights Q4 2021
Increased social and environmental impact
In 2021, Philips’ products and solutions improved the lives of 1.7 billion people, including 167 million people in underserved communities.
Long-term strategic partnerships
Philips signed 35 new long-term strategic partnerships in North America, Europe and Asia, including a 10-year agreement with a large integrated healthcare system in the US for advanced patient monitoring and enterprise imaging solutions.
Acquisition supporting cardiac care
Building on the ambulatory cardiac diagnostics and monitoring solutions resulting from the BioTelemetry acquisition, Philips acquired Cardiologs, adding a vendor-neutral heart disorder screener and ECG analysis applications based on machine learning algorithms.
Continued traction for oral healthcare innovations
Philips completed the successful roll-out of the Sonicare 9900 Prestige in North America, China, Europe, Middle East and Asia Pacific.
Partager sur les réseaux sociaux
Gerelateerd nieuws
-
![Philips publie résultats du troisième trimestre 2023]()
octobre 23, 2023
-
![Philips publie résultats du deuxième trimestre 2023]()
juillet 24, 2023
-
![Philips publie résultats du premier trimestre 2023]()
avril 24, 2023
-
![Philips publie résultats du troisième trimestre 2022]()
octobre 24, 2022
-
![Philips publie résultats du deuxième trimestre 2022]()
juillet 25, 2022
-
![Philips publie résultats du premier trimestre 2022]()
avril 25, 2022
