Imaging sales growth drives Philips sales gain in Q1

By staff writers

April 26, 2021 -- Strong sales gains in its diagnostic imaging, ultrasound, and image-guided therapy segments powered Philips' Diagnosis & Treatment division to a 9% increase in comparable sales in its first quarter.

For the period (end-31 March), Philips' Diagnosis and Treatment business garnered sales of 1.86 billion euros, up 1.5% from the 1.83 billion euros reported in the same period a year ago. After adjustment for currency effects, sales grew 9%, according to the company.

The company's diagnostic imaging segment led the way with double-digit sales growth after adjusting for currency changes, followed by high-single-digit growth in ultrasound as well as enterprise diagnostic informatics, according to the vendor. Its image-guided therapy segment also produced mid-single-digit growth. In addition, comparable order intake increased by 11%.

On a regional basis, Philips' Diagnosis & Treatment business achieved double-digit growth in China and mid-single-digit growth in mature geographies. However, the company said that high-single-digit growth in Western Europe and double-digit growth in other mature geographies were partly offset by flat growth in North America.

The business had first-quarter adjusted earnings before interest, taxes, and amortization (EBITA) of 162 million euros, compared with 117 million euros in the 2020 first quarter. The higher quarterly profit was mainly due to sales growth and productivity measures, according to Philips.

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