Dutch healthcare technology firm, Philips, has revised its projected impact from U.S. import tariffs downward by \u20ac100 million, following a recent trade agreement between the United States and the European Union. The company now anticipates the tariffs will cost between \u20ac150 million and \u20ac200 million in 2025\u2014significantly lower than its earlier forecast of \u20ac250 million to \u20ac300 million.<\/p>\n
The updated estimate comes as the U.S. implements a 15% tariff rate on a broad range of EU goods under the new deal. Despite the adjustment, Philips noted in a statement that the tariff environment \u201cremains dynamic,\u201d and the company will continue lobbying for exemptions in the healthcare sector, both in the U.S. and China.<\/p>\n
CEO Roy Jakobs highlighted the importance of trade clarity provided by the agreement but reaffirmed Philips’ intention to seek relief from tariffs and other trade restrictions, particularly in strategic markets.<\/p>\n
In a separate development, China has imposed restrictions on public procurement of EU-manufactured medical devices exceeding 45 million yuan (approximately $6.3 million), a move widely seen as retaliatory to Brussels’ trade curbs. Jakobs, however, downplayed the impact on Philips, noting that 90% of the company’s products sold in China are locally manufactured. He added that market activity in China is showing signs of recovery.<\/p>\n
In a positive financial update, Philips raised its full-year EBITA margin forecast to between 11.3% and 11.8%, up from the previous range of 10.8% to 11.3%. The company outperformed expectations in Q2, posting an adjusted EBITA margin of 12.4%\u2014well above the analyst consensus of 9.9%. Sales stood at \u20ac4.3 billion, in line with projections.<\/p>\n
Philips operates across three core segments: Personal Health, Diagnosis & Treatment, and Connected Care. The company\u2019s key product offerings include image-guided and diagnostic systems, consumer health products, and smart health appliances.<\/p>\n
The group also reported a 6% year-on-year increase in comparable order intake, driven largely by innovations in AI-powered diagnostic tools. Notably, Philips has secured a long-term agreement with Indonesia\u2019s Ministry of Health for its Azurion image-guided therapy platform, which will be used in cardiac, stroke, and oncology care.<\/p>\n","protected":false},"excerpt":{"rendered":"
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