Koninklijke Philips N.V. NY Registry Shares (PHG) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Royal Philips fourth quarter and full year 2024 results conference call on Wednesday, February 19th, 2025. During the call, hosted by Mr. Roy Jacobs, CEO, and Ms. Charlotte Hanneman, CFO, all participants will be in a listen-only mode. After the introduction, there will be an opportunity to ask questions. Please note that this call will be recorded and replay will be available on the Investor Relations website of Royal Philips. I'll now hand the conference over to Mr. Leandro Mazzoni, Head of Investor Relations. Please go ahead, sir. Hi, everyone. Welcome to Philips' fourth quarter and full year 2024 results webcast. I'm here with our CEO, Roy Jacobs, and our CFO, Charlotte Hahnemann. The press release and the investor deck were published on our investor relations website this morning. The replay and full transcript of this webcast will be made available on the website after the call as well. Before we start, I want to draw your attention to our safe harbor statement on screen. You will also find the statement in the presentation published on our investor relations website. I will now hand it over to Roy. Good morning, everyone, and welcome to the call. I want to start with the key highlights of this morning's release. We delivered strong profitability improvement and cash flow in Q4 and for the full year 2024. Comparable order and sales grew low single digit in the quarter and the year, despite double digit declines in consumer and health systems demand in China, partly offsetting solid growth in the rest of the world. We continue to make solid progress on our plan. enhanced execution, and reached significant milestones to resolve the Respironics recall. With our strong balance sheet, we are pleased to offer shareholders the option to receive a divide...