Shares of Royal Philips NV (PHG) plummeted 13.18% on Wednesday, following the Dutch healthcare technology company's underwhelming fourth-quarter results and weaker-than-expected outlook for 2025, marred by persistent weakness in China.
For the fourth quarter of 2024, Philips reported an adjusted earnings per share of €0.51, missing analysts' expectations of €0.57. Revenue came in at €5.044 billion, slightly below the consensus estimate of €5.1 billion. The company swung to a net loss of €334 million, mainly due to a €449 million tax charge.
The disappointing performance was primarily driven by a double-digit decline in sales in China, where subdued consumer sentiment and anti-graft measures in the healthcare sector continue to weigh on demand. For 2025, Philips forecasts a mid- to high-single-digit decline in China sales, which accounts for around 10% of the company's total revenue.
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