Dutch electronics giant Philips reports large Q1 loss amid litigation
Dutch consumer electronics giant Philips Electronics NV reported on Monday significant first-quarter losses after facing litigation concerning its Respironics subsidiary and higher tax expenses. For the full year 2024, Philips continues to expect 3%-5% comparable sales growth and an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin of 11%-11.5%. The company reiterated its confidence in delivering its 2025 plan, acknowledging that uncertainties remain. Philips said it had reached an agreement with plaintiffs following mediation with Judge Diane Welsh to set...