Philips’ quarterly results again focus on the recall of the company’s apnea devices. Investors will be interested in updates on when that action is completed. In Italy and the United States, among others, impatience about the duration of this action became clear. In addition, shareholders want to know whether Philips sets aside money for possible claims for damages.
The defective sleep apnea devices, where the insulating foam could crumble, have kept Philips in the grip for years and the company has already set aside hundreds of millions of euros for the replacement of the devices. In addition, normal activities with the sale of apnea devices cannot resume until the recall is completed.
The rest of Philips has probably experienced less problems in the supply chain in the first three months of this year. They started to decrease somewhat towards the end of last year. But at the same time there will be fewer sales in Russia of such products as razors. Philips is allowed to continue to sell medical equipment in the country because no sanctions apply.