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 PRESS RELEASE

Philips launches Transcend Plus for EPIQ CVx and Affiniti CVx, deliver...

Philips launches Transcend Plus for EPIQ CVx and Affiniti CVx, delivering breakthrough image quality and FDA-cleared AI enhancements in cardiovascular ultrasound August 27, 2025  Next-generation 2D and 3D imaging and intelligent automation empower clinicians to make faster, more confident decisions in cardiac care Amsterdam, the Netherlands – (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the release of Transcend Plus, the next generation its EPIQ CVx and Affiniti CVx cardiovascular ultrasound systems. Transcend Plus delivers major advancements in image qua...

Marc Hesselink ... (+3)
  • Marc Hesselink
  • CFA
  • Thymen Rundberg

Philips/Volatile results/HOLD

Philips reported a better-than-expected 2Q25 update. We increase our target price to €23 per share (from €21) but keep our Hold rating. The results are surprisingly volatile in our view with large quarterly fluctuations. We believe valuation is fair relative to peers given its lower growth and margin profile.

Luis Arredondo
  • Luis Arredondo

GRIFOLS: RDOS. 2T’25 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'25 vs 2T'24: Ventas: 1.891 M euros (+4,0% vs +3,9% BS(e) y +4,8% consenso); EBITDA: 476,0 M euros (+15,1% vs +12,5% BS(e) y +11,7% consenso); EBIT: 348,85 M euros (+16,5% vs +10,2% BS(e) y +9,9% consenso); BDI: 116,79 M euros (+678,6% vs +600,6% BS(e) y +453,3% consenso); Rdos. 1S'25 vs 1S'24: Ventas: 3.677 M euros (+6,8% vs +6,7% BS(e) y +7,2% consenso); EBITDA: 876,0 M euros (+21,1% vs +19,6% BS(e) y +19,1% consenso); EBIT: 617,71 M euros (+22,8% vs +19,0% BS(e) y +18,8% consenso); BD...

Research Department
  • Research Department

INFORME DIARIO 30 JULIO + RDOS. ESPAÑA Y EUROPA 2T’25. IDEAS DESTACADA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, FERROVIAL, GRIFOLS, REDEIA, SACYR, SANTANDER, TALGO, TELEFÓNICA. EUROPA: ADIDAS, DANONE, KERING, L’ORÉAL, MERCEDES BENZ GROUP. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 2T’25 que se publicarán en España y Europa en los próximos días. Los resultados toman el relevo Recuperación marcada por el...

Research Department
  • Research Department

IBERIAN DAILY 30 JULY + 2Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS...

NEWS SUMMARY: CAIXABANK, FERROVIAL, GRIFOLS, REDEIA, SACYR, SANTANDER, TALGO, TELEFÓNICA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 2Q’25 results to be released over the coming days in Spain. Results take centre stage Recovery in Europe in a session marked by the results calendar and news on the trade negotiations of the US with China and the EU. In the STOXX 600, the ral...

Oliver Metzger ... (+3)
  • Oliver Metzger
  • Usama Tariq
  • Wim Gille
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Allfunds Group PLC: Ready to Spring forward. Basic-Fit: 1H25 ahead of INGF, membership ingrowth, outlook reiterated, FCF a bit light. Lotus Bakeries: Preview 1H25. NN Group & ASR: Dutch Pension Reform not an issue at 29 October Dutch elections. Philips: 2Q25 results, much lower tariff impact. Proximus: New BICS CEO and Global CRO laid off. Vastned: Good results, EPRA EPS guidance up by 2.5%. Zabka: 2Q25 Preview

Oscar Rodriguez
  • Oscar Rodriguez

PHILIPS: RDOS. 2T’25 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'25 vs 2T'24: Ventas: 4.338 M euros (-2,8% vs -3,2% BS(e) y -3,5% consenso); EBITA Ajustado: 540 M euros (+9,1% vs -17,2% BS(e) y -13,5% consenso); BDI: 240 M euros (-46,9% vs -80,5% BS(e) y -77,7% consenso).

Research Department
  • Research Department

INFORME DIARIO 29 JULIO + RDOS. ESPAÑA Y EUROPA 2T’25. IDEAS DESTACADA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAF, ENDESA, IBERDROLA, UNICAJA. EUROPA: AIR LIQUIDE, ESSILORLUXOTTICA, PHILIPS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 2T’25 que se publicarán en España y Europa en los próximos días. Tras el acuerdo… Europa termina en pérdidas La digestión del acuerdo comercial fue apagan...

 PRESS RELEASE

Indonesia’s Ministry of Health and Philips to deliver nationwide cover...

Indonesia’s Ministry of Health and Philips to deliver nationwide coverage of advanced image-guided therapy systems in Indonesia, expanding access to cardiac, stroke and cancer care in all 38 provinces July 29, 2025 Long-term multiyear agreements will see Philips installing its advanced Azurion image-guided therapy systems nationwide across all provinces, including rural and remote areasInitiative brings minimally invasive care to millions of cardiac, stroke and cancer patients in IndonesiaCombines cutting-edge treatment technology, services and training to strengthen Indonesia’s health inf...

 PRESS RELEASE

Philips builds strong order intake momentum and drives margin expansio...

Philips builds strong order intake momentum and drives margin expansion in Q2 July 29, 2025 Q2 2025 Group Highlights Comparable order intake growth 6%Group sales EUR 4.3 billion, reflecting 1% increase in comparable salesIncome from operations EUR 400 millionAdjusted EBITA margin increased 130 bps to 12.4% of salesFree cash flow increased to EUR 230 millionPhilips increases full year 2025 outlook for Adjusted EBITA margin and free cash flow; reiterates comparable sales growth outlook Roy Jakobs, CEO of Royal Philips:“We are focused on driving profitable growth and delivering better care ...

 PRESS RELEASE

Philips announces collaboration with Epic to enhance ambulatory cardia...

Philips announces collaboration with Epic to enhance ambulatory cardiac monitoring July 24, 2025 Philips will now offer the largest cardiac care portfolio through Epic’s Aura platform CAMBRIDGE, Mass. – (NYSE: PHG, AEX: PHIA) a global leader in health technology, today announced a collaboration with to integrate Philips’ suite of cardiac ambulatory monitoring and diagnostics services with Aura, the specialty diagnostics suite of the leading electronic health record (EHR) company. This collaboration will offer the broadest cardiac care portfolio of any single service provider integrating...

 PRESS RELEASE

Philips advances minimally invasive therapy procedures in prostate can...

Philips advances minimally invasive therapy procedures in prostate cancer care with FDA 510(k) clearance for image-guided navigation technology July 23, 2025 Supporting prostate cancer diagnosis with more precise guidance for clinicians, offering better patient care Amsterdam, the Netherlands – (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced a major advancement in image-guided navigation for prostate cancer care with the FDA 510(k) clearance of the latest . The system includes a new advanced annotation [1] workflow that supports clinicians during focal thera...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

ASM International: 2Q25 Results; Positive tone, weak orders. CM.com: 1H25 results; disappointing performance, guidance downgrade. Gimv: Gimv fuels Hemink's sustainable expansion. KPN: Solid 2Q25, guidance raised largely on €25m IPR claim benefit. Philips: 2Q25 Preview; improvement needed. Randstad: 2Q25 in line; outlook touch below; FX spoils the party but operational leverage story is unfolding. Sofina: Newsletter #16. Universal Music Group: EU opens in-depth investigation into Downtown ...

 PRESS RELEASE

Philips Launches ECG AI Marketplace to Enhance Early Cardiac Diagnosis

Philips Launches ECG AI Marketplace to Enhance Early Cardiac Diagnosis July 17, 2025 Anumana's FDA-cleared LEF algorithm becomes first certified third-party solution available through Philips’ ECG ecosystem CAMBRIDGE, Mass. — (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the launch of the Philips ECG AI Marketplace, a platform that gives cardiac care teams access to multiple vendor offerings all in one central location to help clinicians manage and implement AI-powered diagnostic tools more easily. , an AI-driven health technology company committed to tran...

Research Department
  • Research Department

IBERIAN DAILY 24 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: GRIFOLS. Stock markets welcome the possible truce between Iran and Israel, as opposed to crude oil The strikes on Iran nuclear sites had a limited impact on European stock markets, which ended with drops below -0.5%. US indices saw greater gains and crude oil fell sharply after Iran’s failed missile attack to the US base in Qatar, followed by a 12-hour truce between Iran and Israel announced by D. Trump. In the STOXX 600, Utilities and Technology were the best performers whereas B...

Research Department
  • Research Department

INFORME DIARIO 24 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS. Las bolsas festejan la posible tregua Irán-Israel, el crudo no El bombardeo estadounidense a las plantas de desarrollo nuclear iraníes tuvo un impacto limitado entre las bolsas europeas, que cerraron con caídas inferiores al medio punto porcentual. Los índices estadounidenses acentuaron las ganancias y el petróleo registró fuertes caídas tras el ataque fallido de Irán con misiles a bases americanas en Qatar, seguida de una tregua de 12 hor...

Research Department
  • Research Department

INFORME DIARIO 12 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, GRIFOLS. EUROPA: UNICREDIT. El Ibex pierde los 14.200 puntos Pese a los avances comerciales entre EE.UU. y China y a un dato de inflación en EE.UU mejor de lo esperado las bolsas europeas cerraron con pérdidas, lideradas por el Ibex tras los flojos resultados de Inditex. En el STOXX 600 los mejores sectores fueron Utilities y Energía (por segundo día consecutivo), frente a Retail e Inmobliario que fueron los que más cayeron. Por el lado m...

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