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Search resuls for: "Roy Jakobs"


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☆ Philips revenues beat expectations despite supply chain volatility, CEO says
  + stars: | 2023-01-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPhilips revenues beat expectations despite supply chain volatility, CEO saysRoy Jakobs, CEO of Philips, discusses Q4 earnings for the company and the strategy to improve supply chain shortages and the overall company's profitability.
☆ Philips scraps 6,000 jobs in drive to improve profitability
  + stars: | 2023-01-30 | by ( ) www.cnbc.com   time to read: +1 min
Dutch health technology company Philips said on Monday it would scrap 6,000 jobs to restore its profitability following a recall of respiratory devices that knocked off 70% of its market value. Half of the job cuts will be made this year, the company said, adding that the other half will be realized by 2025. "We have been working very hard to refocus on health technology, and we have now built a very strong portfolio there where we have 70% of number one or two positions," he also told CNBC. "But we have not been extracting the value out of those segments because we did not execute well. So the strategy I present today is very much focused on organic growth, focusing on the portfolio that we have and getting the most out of them."
☆ Philips says tests on recalled products show limited health risks
  + stars: | 2022-12-21 | by ( Bart H. Meijer | ) www.reuters.com   time to read: +3 min
[1/2] Logo of Dutch technology company Philips is seen at its company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File PhotoSummarySummary Companies Philips: Tests show DreamStation devices unlikely to cause harmFoam degradation more likely if unauthorised cleaners usedShares up 3.5%, after recall wiped 70% off market valueAMSTERDAM, Dec 21 (Reuters) - Dutch health technology company Philips (PHG.AS) said on Wednesday independent tests on its respiratory devices involved in a major global recall had shown limited health risks. Philips had already said earlier this year that tests indicated foam degradation was very rare and was linked to the use of unauthorised ozone-based cleaning products. It said further tests now showed machines cleaned with those products were 14 times more likely to have significant visible foam degradation than those treated with authorised products. The U.S. Food and Drug Administration (FDA) is still considering the results and "may reach different conclusions", Philips said.
☆ Philips to cut 5% of its workforce after medical equipment recall
  + stars: | 2022-10-24 | by ( ) www.reuters.com   time to read: +2 min
AMSTERDAM, Oct 24 (Reuters) - Dutch medical equipment maker Philips (PHG.AS) said on Monday it expected to scrap around 4,000 jobs as it tried to streamline its organisation after a massive recall slashed around 70% off its market value in the past year. "My immediate priority is to improve execution so that we can start rebuilding the trust of patients, consumers and customers," Jakobs said in a statement. The cuts represent just over 5% of the company's workforce based on last year's total of 78,000. The company said it expected the reorganisation to cost around 300 million euros ($295.41 million) in the coming quarters. As flagged in a profit warning earlier this month, Philips said its adjusted earnings before interest, taxes and amortisation (EBITA) had tumbled 60% in the third quarter, to 209 million euros.
☆ Philips to cut 5% of workforce as new CEO acts to counter falling sales
  + stars: | 2022-10-24 | by ( Tosterling Bart H. Meijer | Bart H. Meijer | ) www.reuters.com   time to read: +3 min
AMSTERDAM, Oct 24 (Reuters) - Philips' (PHG.AS) new CEO announced plans on Monday to cut around 4,000 jobs following falling sales and after a massive recall slashed around 70% off the Dutch medical equipment maker's market value in the past year. The company said it expected the reorganisation to cost around 300 million euros ($295.41 million) in the coming quarters. Philips is in talks with the U.S. Department of Justice on a settlement following the recall. Comparable sales dropped 6% to 4.3 billion euros in July-September as Philips said supply chain problems were worse than anticipated and would continue to weigh on sales in the last months of 2022. Jakobs said his top priorities were repairing the company's reputation by ensuring the recall is completed as soon as possible, and resolving the supply chain problems.
☆ Philips shares slump on profit warning and sleep apnea device writedown
  + stars: | 2022-10-12 | by ( Bart H. Meijer | ) www.reuters.com   time to read: +3 min
Shares were down 9% at 0750 GMT at 14.13 euros, hitting their lowest level since June 2012. In its second profit warning of the year, Philips said third-quarter core profit would drop around 60%, as ongoing supply chain problems had pushed down comparable sales by around 5%. This was expected to have limited adjusted earnings before interest, taxes and amortisation (EBITA) to 210 million euros in the third quarter, down from 512 million euros a year before. RECALL HITS SLEEP BUSINESSPhilips last year shocked investors by recalling 5.5 million ventilators used to treat sleep apnoea, over worries that foam used in the machines could become toxic. "Details of the consent decree have not been fully negotiated at this time," Van Houten said in a call with analysts.
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