Medical technology – Worries at Philips – Economy

Doubts about a successful year 2022 are increasing at the medical technology group Philips. The costly recall of ventilators has to be expanded again, and now there are the new corona lockdowns in China, the war in Ukraine, the ongoing procurement problems and inflation. “Now is not the time to give up the forecast,” said CEO Frans van Houten. “But the situation is very vulnerable – especially in China, where the Covid lockdowns are a major risk for international trade and for us.” In principle, however, he continues to hope that sales and earnings will recover in the second half of the year. Philips is fighting the inflationary pressure with cost-cutting measures of 150 to 200 million euros and price increases.

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