KONINKLIJKE PHILIPS NV
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Feb 19, 2026
Contents
Performance summary
The year 2025
Sales amounted to EUR 17.8 billion, a decrease of 1% on a nominal basis. Nominal sales were negatively
impacted by the depreciation of several currencies against the euro, including the US dollar with the
biggest impact. On a comparable basis*, sales increased 2%. Comparable sales* growth was flat in the
Diagnosis & Treatment segment,3% in the Connected Care segment, and 8% in the Personal Health
segment. Comparable sales growth was positive in Mature Geographies as well as Growth Geographies.
Income from operations improved to EUR 1,424 million, mainly driven by higher gross margin and
operational improvements, lower depreciation and amortization, Respironics-related expenses and
restructuring, acquisition-related charges and other items.
Net income amounted to EUR 897 million, mainly driven by higher income from operations and lower
income tax charges, compared with a loss of EUR 698 million in 2024.
Adjusted EBITA* amounted to EUR 2,195 million, or 12.3% of sales, compared with 11.5% of sales in 2024.
Adjusted EBITA* margin increased, mainly driven by growth in comparable sales, operational improvements,
productivity actions, and favorable mix effects, partly offset by cost inflation and higher tariffs.
Net cash flows from operating activities amounted to EUR 1,172 million; free cash flow* amounted to EUR
512 million.
For a discussion of our financial performance for the year ended December 31, 2024, compared to the year
ended December 31, 2023, please see section ‘Financial Performance’ in our Annual Report on Form 20-F for
the year ended December 31, 2024, which we filed with the SEC on February 21, 2025.
Key data in millions of EUR unless otherwise stated
| 2025 | 2024 | |
|---|---|---|
| Sales | 17,834 | 18,021 |
| Nominal sales growth | (1%) | (1%) |
| Comparable sales growth ¹ | 2% | 1% |
| Income from operations | 1,424 | 529 |
| as a % of sales | 8% | 3% |
| Financial expenses, net | (233) | (282) |
| Results of associates | (9) | (124) |
| Income tax (expense) benefit | (282) | (963) |
| Income from continuing operations | 901 | (840) |
| Discontinued operations, net of income taxes | (4) | 142 |
| Net income | 897 | (698) |
| Adjusted EBITA ¹ | 2,195 | 2,077 |
| as a % of sales | 12.3% | 11.5% |
| Income from continuing operations attributable to shareholders ² per common share (in EUR) - diluted | 0.93 | (0.88) |
| Adjusted income from continuing operations attributable to shareholders ² per common share (in EUR) - diluted ¹ | 1.56 | 1.36 |
1 Non-IFRS financial measure. For the definition and reconciliation of the most directly comparable IFRS measure, refer to
Reconciliation of non-IFRS information.
2 Shareholders in this table refers to shareholders of Koninklijke Philips N.V. Includes the effect of the share dividend with
respect to 2024 for 2024.
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