Philips sees more supply chain woes

Stefan Mileschin · 25th January 2022, 08:13

Second half of the year until recovery

Dutch health technology company Philips expects sales to recover strongly in the second half of the year, while a steep decline due to the global shortage of parts is likely to persist in the coming months.

Philips earlier this month warned that supply chain woes would hit profit and a ventilator recall needed to be expanded, sending its shares down over 15 per cent on their worst day on the financial markets in decades. read more

Chief Executive Officer Frans van Houten said that the outfit expected a rubbish start to the year with a comparable sales decline, followed by a recovery and strong second half of the year.

This should lead to between 3 - 5 per cent growth in comparable sales in 2022, he added.

Overall growth will be held back by the sleep & respiratory care unit, which is still working on the massive recall of breathing-aid machines launched last year, amid concerns that a type of foam used in the devices could degrade and become toxic. read more

https://fudzilla.com/news/54249-phil...ply-chain-woes

25th January 2022, 08:13	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,541	Philips sees more supply chain woes Second half of the year until recovery Dutch health technology company Philips expects sales to recover strongly in the second half of the year, while a steep decline due to the global shortage of parts is likely to persist in the coming months. Philips earlier this month warned that supply chain woes would hit profit and a ventilator recall needed to be expanded, sending its shares down over 15 per cent on their worst day on the financial markets in decades. read more Chief Executive Officer Frans van Houten said that the outfit expected a rubbish start to the year with a comparable sales decline, followed by a recovery and strong second half of the year. This should lead to between 3 - 5 per cent growth in comparable sales in 2022, he added. Overall growth will be held back by the sleep & respiratory care unit, which is still working on the massive recall of breathing-aid machines launched last year, amid concerns that a type of foam used in the devices could degrade and become toxic. read more https://fudzilla.com/news/54249-phil...ply-chain-woes

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