Back to black: Philips posts first annual profit since 2021 / Photo: LEX VAN LIESHOUT - ANP/AFP
-
Kenya's economy faces climate change risks: World Bank
-
France's largest wildfire in decades 'under control', says minister
-
South Korea baseball league cancels two games over heatwave
-
Warsaw and Kyiv exhume Volyn victims at centre of diplomatic quarrel
-
India PM Modi says he forgives protesters who abused him
-
California lifeguards wiped out from extreme weather
-
US plans steep water cuts for southwest amid Colorado River crisis
-
Amazon surges as US stocks shrug off bond yield worries
-
Oil giants report blowout profits on war, warn high gas prices could persist
-
Hungary to shut nuclear plant as heatwave hits central Europe
-
Google launches new satellite image AI tool, alarming researchers
-
Tech-fuelled rally fizzles as oil prices rise
-
US Fed dissenters call for rate hikes over sustained inflation
-
Alarm over climate-linked low level of German waterways
-
New York sues online prediction markets giant Kalshi
-
Commerzbank agrees to talks with UniCredit after two-year standoff
-
Profits surge at US oil giant amid Iran war supply shock
-
Fornaro Legal Releases Guidance to Help Businesses Maintain Clear Ownership Records During Growth
-
Stock markets rally on tech rebound
-
Japan probe made closest-ever asteroid flyby: space agency
-
France, Spain assess scorched terrain as new wildfires threaten other regions
-
British oil giant BP aims to sell North Sea business
-
Chipmaker Kioxia reports AI-driven 45-fold surge in quarterly net profit
-
China factory activity slides as leaders seek spending boost
-
Far right and far left battle for power in polarised Berlin
-
Tech rebound fuels record-breaking rally in South Korean stocks
-
The last trio: S.Africa's zoo elephants await their fate
-
Cables and cooling bring AI windfall to Indian suppliers
-
Oil industry sees war windfall but girds for political blowback
-
Anthropic's models gained unauthorized 'real-world' access during testing
-
Amazon beats expectations with cloud and AI growth
-
Apple tops estimates in CEO Cook's final quarter, but shares fall
-
Blowout Microsoft results lift US stocks as oil retreats
-
Milei demands expulsion of foreigners expressing 'hate' against Argentina
-
'Beginning of the end': Relief but no party as French wildfire winds down
-
Italy's Po River valley on drought alert
-
Southern Europe 'becoming more flammable' in hotter climate, experts say
-
Prada profits pinched as growth hard to chase
-
Mammoth bones found on parched bed of Danube in Bulgaria
-
Stocks climb on earnings and rates, oil retreats
-
MEXC Lists Grvt (GRVT) with $60,000 Worth of GRVT and 10,000 USDT in Airdrop+ Rewards
-
US economic growth slows in second quarter, missing expectations
-
George and Amal Clooney flee French home due to wildfire
-
Russia adds Telegram founder Durov to 'terrorist' blacklist
-
MEXC Ventures Supports Alpha Arena's APAC Debut at Coinfest Bali
-
Stocks diverge on earnings, as oil steadies
-
AI data centre supplier Zhongji InnoLight slips on Hong Kong debut
-
Eurozone economy grows despite Middle East war
-
May, June heatwaves caused 2,877 extra deaths in England: govt
-
Singapore group will develop 'most promising' Ebola vaccine
Back to black: Philips posts first annual profit since 2021
Dutch electronics and medical device manufacturer Philips said Tuesday it had bounced back into the black in 2025, as it seeks to turn the page on a scandal over faulty sleep apnoea machines.
Philips posted a profit of 897 million euros last year, after three straight years of losses.
"We strengthened our company while navigating a dynamic macro environment. We ended the year with strong, robust margin expansion despite tariffs," chief executive Roy Jakobs said in a statement.
The profit came in above the consensus forecast of analysts polled by the company of 775 million euros.
Once famous for making lightbulbs and televisions among other products, Amsterdam-based Philips in recent years has sold off subsidiaries to focus on medical care technology.
It posted overall sales of 17.8 billion euros in 2025, compared to the 18.0 billion euros it banked in 2024.
Analysts' consensus forecast was for sales of 17.7 billion euros.
Looking ahead, the firm said it expected sales growth of between 3.0 and 4.5 percent for 2026.
This outlook includes the impact of "currently known tariffs" but excludes potential costs from the ongoing saga of its sleep apnoea machines, Philips said.
Since 2021, the company has been battling a series of crises over its DreamStation machines for sleep apnoea, a disorder in which breathing stops and starts during sleep.
Millions of devices were recalled over concerns that users were at risk of inhaling pieces of noise-cancelling foams and fears it could potentially cause cancer.
In April, it announced it had reached a $1.1 billion deal to settle US lawsuits from the faulty machines.
Turning to the fourth quarter, Philips posted a profit of 397 million euros, above the forecast of 276 million euros.
In the third quarter of last year, the firm banked profits of 187 million euros on sales of 4.3 billion euros.
The firm has continued to shed jobs. It employed 64,817 people at the end of 2025, compared to 67,823 at the end of 2024.
Philips also announced a proposal to reappoint Jakobs as CEO.
"(This) reflects the Supervisory Board's recognition of the progress made since 2022 and its confidence in his leadership as Philips enters the next phase of driving profitable growth," the firm said.
Y.Ibrahim--CPN