Now sees FY free cash flow 0.9-1.1 bln eur (Il Sole 24 Ore Radiocor) - Amsterdam, 29 Apr - Philips said that first quarter sales slipped to 4.138 billion euros from 4.167 billion a year earlier but comparable sales growth reached 2.4%.

Comparable order intake was down 3.8%, mainly due to China.

The loss widened to 998 million euros from 665 million.

Adjusted EBITA margin was 9.4%, up from 8.6%.

The free cash outflow reached 336 million euros in the first quarter.

Philips reiterated its confidence in delivering its 2025 plan, acknowledging that uncertainties remain. For 2024, Philips continues to expect 3-5% comparable sales growth and an adjusted EBITA margin of 11.0-11.5%.

The expected free cash flow is now increased to 0.9-1.1 billion euros in 2024, including the receipt from insurers for the Respironics product liability claims and the remaining payment related to the economic loss settlement.

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(RADIOCOR) 29-04-24 08:35:04 (0111) 5 NNNN