Philips Healthcare parent company Royal Philips posted a sales increase for the first quarter of 2022 but sustained a decrease in net income.
For the first quarter (end-31 March), Philips posted revenues of 4.2 billion euros, up 6% from $3.9 billion euros for the same period last year. The company attributed the uptick to its diagnosis and treatment businesses, which saw a sales increase of 15%, from 1.9 million euros in 2022 to 2.2 million euros in 2023.
The company sustained a net loss of 665 million euros, compared with 151 million euros in the first quarter of 2022.
On a geographical basis, sales in markets such as China, the Middle East and Turkey, Latin America, and Central Europe grew 10%. Revenues from mature geographic regions such as North America and Western Europe rose 9%, the company said.
