# EDGAR Filing Document

**Accession Number:** 0000313216
**File Stem:** 0001628280-25-048592
**Filing Date:** 2025-11
**Character Count:** 60065
**Document Hash:** b901ec89989d68090affd5ccb08c25f2
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## Filing Content

## Filing Summary
**0001628280-25-048592.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0001628280-25-048592

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KONINKLIJKE PHILIPS NV
- **CENTRAL INDEX KEY:** 0000313216
- **STANDARD INDUSTRIAL CLASSIFICATION:** X-RAY APPARATUS & TUBES & RELATED IRRADIATION APPARATUS [3844]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-05146-01
- **FILM NUMBER:** 251447130

**BUSINESS ADDRESS:**
- **STREET 1:** BREITNER CENTER
- **STREET 2:** AMSTELPLEIN 2
- **CITY:** AMSTERDAM
- **STATE:** P7
- **ZIP:** 1096 BC
- **BUSINESS PHONE:** 31 20 59 77777

**MAIL ADDRESS:**
- **STREET 1:** BREITNER CENTER
- **STREET 2:** AMSTELPLEIN 2
- **CITY:** AMSTERDAM
- **STATE:** P7
- **ZIP:** 1096 BC

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KONINKLIJKE PHILIPS ELECTRONICS NV
- **DATE OF NAME CHANGE:** 19981217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHILIPS ELECTRONICS N V
- **DATE OF NAME CHANGE:** 19930727

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHILIPS NV
- **DATE OF NAME CHANGE:** 19910903

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

____________________________________________________________________________

**FORM 6-K**

____________________________________________________________________________

**REPORT OF FOREIGN ISSUER**

**Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934**

**November 4, 2025**

____________________________________________________________________________

KONINKLIJKE PHILIPS N.V.

(Exact name of registrant as specified in its charter)

____________________________________________________________________________

**Royal Philips**

(Translation of registrant's name into English)

**The Netherlands**

(Jurisdiction of incorporation or organization)

**Prinses Irenestraat 59, 1077 WV Amsterdam, The Netherlands**

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No ☒

Name and address of person authorized to receive notices and communications from the Securities and Exchange Commission:

M.J. van Ginneken<br>Koninklijke Philips N.V.<br>Prinses Irenestraat 59<br>1077 WV Amsterdam – The Netherlands

------

This report comprises a copy of the following report:

"Philips' Third Quarter Results 2025", dated November 4, 2025.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf, by the undersigned, thereunto duly authorized at Amsterdam, on the 4th day of November, 2025.

KONINKLIJKE PHILIPS N.V.

*/s/* M.J. van Ginneken<br>(Chief Legal Officer)

------

---

| | |
|:---|:---|
| ![gmc_wordmarkx2008xrgb.jpg](gmc_wordmarkx2008xrgb.jpg) | **Quarterly report** |
| ![gmc_wordmarkx2008xrgb.jpg](gmc_wordmarkx2008xrgb.jpg) | Q3 2025 |

---

**Philips continues momentum; delivers strong order intake, step-up in sales growth and margin expansion**

Amsterdam, November 04, 2025

**Q3 2025 Group Highlights**

• Comparable order intake growth 8%

• Group sales amounted to EUR 4.3 billion, reflecting 3% increase in comparable sales

• Income from operations was EUR 330 million

• Adjusted EBITA margin increased by 50 basis points to 12.3% of sales

• Operating cash flow of EUR 327 million, with a free cash flow of EUR 172 million

• Philips reiterates full-year 2025 outlook, with margin now expected at the upper end of the range

**Roy Jakobs, CEO of Royal Philips:**

"In this quarter we maintained our momentum, with AI-powered innovations and long-term partnerships making a real difference for patients and consumers. We drove strong order intake and accelerated sales growth, with sustained strength in North America. We expanded margin through innovation, focused execution and cost discipline, remaining firmly on-track as we navigate an uncertain macro environment including tariffs.

We are taking disciplined action to achieve the highest standards in patient safety and quality, which remains our number one priority.

Following our landmark agreement with Indonesia's Ministry of Health, the first Azurion system is being installed this week in East Java. This milestone marks the start of expanded access to advanced, minimally invasive care across Indonesia and demonstrates progress on our fundamentals, including supply chain agility and simplification.

Our passionate team remains fully focused on driving performance and sustaining momentum through the end of the year."

**Group and segment performance**

Comparable order intake grew 8% in the third quarter, supported by continued strong performance in North America. Comparable sales grew 3.3% with growth in all segments. Margin expansion was driven by increased sales, favorable mix effects and productivity that more than offset the impact of increased tariffs. Free cash flow increased to EUR 172 million.

Diagnosis & Treatment comparable sales grew 1.3%. Adjusted EBITA margin was 11.8%, down 80 bps, mainly due to tariffs and partly offset by gross margin from recently launched innovations and productivity.

Connected Care comparable sales grew 5.1%. Adjusted EBITA margin improved 410 bps to 11.4%, driven by increased sales and productivity, partly offset by tariffs. Adjusted EBITA includes a non-recurring gain related to a minority investment.

Personal Health comparable sales grew 10.9%. Adjusted EBITA margin increased 60 bps to 17.1%, driven by increased sales and productivity, partly offset by tariffs.

Quarterly Report 2025 - Q3 3

------

**Innovation highlights** 

• Philips launched Lumea IPL in the US, bringing the world's No. 1 Intense Pulsed Light hair removal brand to the market. The launch has seen an encouraging start with strong consumer interest.

• Philips unveiled radiation therapy (RT) breakthroughs, including the advanced Rembra RT and Areta RT CT scanners, delivering clearer and more consistent images, supported by the launch of helium-free BlueSeal RT MR in North America.

• Philips launched Transcend Plus, the next generation EPIQ CVx and Affiniti CVx cardiovascular ultrasound systems, including 26 FDA-cleared cardiovascular ultrasound AI applications, the most in the industry.

• Philips signed long-term Enterprise Monitoring as a Service (EMaaS) partnerships with leading US health systems in California, including Hoag in Orange County and Rady Children's Hospital in San Diego. Philips' EMaaS solutions help hospitals enhance clinical efficiency and patient safety through advanced monitoring, strengthened cybersecurity, and scalable digital capabilities.

• Three-year results of iMODERN, a randomized, controlled clinical study involving 1,146 patients, provide evidence to widen minimally invasive treatment options for patients with acute myocardial infarctions. Philips sponsored the trial and enabled both the invasive and non-invasive approaches evaluated within it.

• Philips' net-zero science-based target by 2045 has been officially validated by the Science Based Targets initiative (SBTi). This underlines the company's commitment to healthcare decarbonization, sustainable healthcare leadership and long-term value creation.

**Productivity** 

Disciplined cost management and robust productivity initiatives delivered savings of EUR 222 million in the quarter. Philips will deliver its three-year, EUR 2.5 billion productivity program, including EUR 800 million of productivity savings in 2025.

**Outlook**

Philips reiterates its confidence in delivering the full-year 2025 outlook:

• Comparable sales growth: 1%-3%

• Adjusted EBITA margin: 11.3%-11.8%, now expected toward the upper end of the range

• Free cash flow: EUR 0.2-0.4 billion (including the payout in the first quarter of 2025 of EUR 1,025 million Philips Respironics recall-related medical monitoring and personal injury settlements in the US.)

This outlook excludes ongoing Philips Respironics-related proceedings, including the investigation by the US Department of Justice.

**Conference call and video webcast**

Roy Jakobs, CEO, and Charlotte Hanneman, CFO, will host a conference call for investors and analysts at 10:00 am CET today to discuss the third quarter results. A live webcast of the conference call will be available on the Philips Investor Relations website and can be accessed here.

Quarterly Report 2025 - Q3 4

------

**Philips performance**

**Key data** in millions of EUR unless otherwise stated<sup>\*</sup>

---

| | | |
|:---|:---|:---|
| | Q3 2024 | **Q3 2025** |
| Sales | 4377 | 4302 |
| Nominal sales growth | (2%) | (2%) |
| Comparable sales growth ¹ | 0% | 3% |
| Comparable order intake ² | (2%) | 8% |
| Income from operations | 337 | 330 |
| *as a % of sales* | *8 %* | *8 %* |
| Financial income (expenses), net | (69) | (57) |
| Investments in associates, net of income taxes | (21) | 2 |
| Income tax (expense) benefit | (65) | (87) |
| Income from continuing operations | 182 | 188 |
| Discontinued operations, net of income taxes | - | (1) |
| Net income | 181 | 187 |
| **Earnings per common share (EPS)** |  |  |
| Income from continuing operations attributable to shareholders ³ (in EUR) - diluted | 0.19 | 0.19 |
| Adjusted income from continuing operations attributable to shareholders ³ (in EUR) - diluted ¹ | 0.32 | 0.36 |
| Net income attributable to shareholders ³ (in EUR) - diluted | 0.19 | 0.19 |
| **EBITA ¹** | **404** | **409** |
| *as a % of sales* | *9.2 %* | *9.5 %* |
| **Adjusted EBITA ¹** | **516** | **531** |
| *as a % of sales* | *11.8 %* | *12.3 %* |
| **Adjusted EBITDA ¹** | **735** | **738** |
| *as a % of sales* | *16.8 %* | *17.2 %* |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

<sup>2</sup>Comparable order intake is presented when discussing the Philips Group's performance. For the definition of this measure, refer to chapter 9.10, Other Key Performance Indicators, of the Annual Report 2024.

<sup>3</sup>Shareholders refers to shareholders of Koninklijke Philips N.V. Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares in 2025 with respect to the share dividend for 2024.

• Comparable sales increased by 3%, driven by growth across all segments. The Diagnosis & Treatment segment recorded 1% growth, Connected Care recorded 5% growth, and Personal Health showed 11% growth.

• Income from operations decreased by EUR 7 million, mainly due to higher amortization, mostly offset by operational improvements.

• Adjusted EBITA increased to EUR 531 million and the margin improved to 12.3%, mainly driven by sales growth, favorable mix effects and productivity measures, partly offset by higher tariffs.

• Restructuring, acquisition-related and other items amounted to a loss of EUR 122 million, compared with a loss of EUR 113 million in Q3 2024. Q3 2025 mainly includes EUR 57 million restructuring and acquisition-related charges, EUR 20 million in Respironics field-action running costs, EUR 20 million of Respironics consent decree charges, and EUR 23 million for quality actions.

• Income tax expense increased by EUR 22 million, mainly driven by higher prior year true-ups and higher income before tax.

• Net income increased to EUR 187 million, mainly driven by higher earnings. Lower financial expenses and higher income on investment on associates were partly offset by higher tax charges.

**Sales per geographic area** in millions of EUR unless otherwise stated

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | % change | % change |
| | Q3 2024 | **Q3 2025** | nominal | comparable ¹ |
| Western Europe | 965 | 933 | (3%) | (2%) |
| North America | 1873 | 1833 | (2%) | 5% |
| Other mature geographies | 324 | 320 | (2%) | 3% |
| **Mature geographies** | **3163** | **3086** | **(2** **%)** | **3%** |
| Growth geographies | 1214 | 1217 | 0% | 5% |
| **Philips Group** | **4377** | **4302** | **(2** **%)** | **3%** |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

• Comparable sales in Mature geographies showed 3% growth, mainly driven by North America and with contributions from all segments.

• Comparable sales growth was positive in Western Europe, offset by royalty income phasing.

• Growth geographies showed 5% growth, mainly driven by Personal Health.

**Cash and cash equivalents balance** in millions of EUR

---

| | | |
|:---|:---|:---|
| | Q3 2024 | **Q3 2025** |
| **Beginning cash balance** | **1807** | **1822** |
| Free cash flow ¹ | 22 | 172 |
| &nbsp;&nbsp;*Net cash flows from operating activities* | *192* | *327* |
| &nbsp;&nbsp;*Net capital expenditures* | *(170)* | *(155)* |
| Other cash flows from investing activities | 35 | (4) |
| Treasury shares transactions | (60) | 7 |
| Changes in debt | (246) | (42) |
| Dividend paid to shareholders | - | (33) |
| Other cash flow items | (45) | (11) |
| **Ending cash balance** | **1512** | **1912** |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

• Net cash flows from operating activities increased, mainly driven by higher earnings and lower Respironics provision-related payments, partly offset by higher working capital outflows.

• Dividend paid to shareholders in 2025 reflects the payment of the dividend-related withholding tax.

• Other cash flow items mainly reflects the foreign currency impact on the cash balance.

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 5

------

**Performance per segment**

**Diagnosis & Treatment**

**Key data** in millions of EUR unless otherwise stated<sup>\*</sup>

---

| | | |
|:---|:---|:---|
| | Q3 2024 | **Q3 2025** |
| Sales | 2150 | 2080 |
| &nbsp;&nbsp;&nbsp;Nominal sales growth | (2%) | (3%) |
| &nbsp;&nbsp;&nbsp;Comparable sales growth ¹ | (1%) | 1% |
| Income from operations | 232 | 200 |
| &nbsp;&nbsp;*as a % of sales* | *10.8 %* | *9.6 %* |
| EBITA ¹ | 255 | 217 |
| &nbsp;&nbsp;*as a % of sales* | *11.9 %* | *10.5 %* |
| Adjusted EBITA ¹ | 271 | 246 |
| &nbsp;&nbsp;*as a % of sales* | *12.6 %* | *11.8 %* |
| Adjusted EBITDA ¹ | 321 | 291 |
| &nbsp;&nbsp;*as a % of sales* | *14.9 %* | *14.0 %* |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

• Comparable sales increased by 1%. Image Guided Therapy showed low-single-digit growth, while Precision Diagnosis was flat.

• Mature geographies recorded low-single-digit growth. Growth geographies were flat.

• Adjusted EBITA decreased to EUR 246 million and the margin was 11.8%, mainly due to higher tariffs and partly offset by gross margin from innovation and productivity measures.

• Restructuring, acquisition-related and other items amounted to EUR 29 million, compared with EUR 16 million in Q3 2024.

**Connected Care**

**Key data** in millions of EUR unless otherwise stated

---

| | | |
|:---|:---|:---|
| | Q3 2024 | **Q3 2025** |
| Sales | 1211 | 1200 |
| &nbsp;&nbsp;&nbsp;Nominal sales growth | (2%) | (1%) |
| &nbsp;&nbsp;&nbsp;Comparable sales growth ¹ | 0% | 5% |
| Income from operations | (17) | 12 |
| &nbsp;&nbsp;*as a % of sales* | *(1.4 %)* | *1.0 %* |
| EBITA ¹ | 20 | 67 |
| &nbsp;&nbsp;*as a % of sales* | *1.7 %* | *5.6 %* |
| Adjusted EBITA ¹ | 89 | 137 |
| &nbsp;&nbsp;*as a % of sales* | *7.3 %* | *11.4 %* |
| Adjusted EBITDA ¹ | 148 | 201 |
| &nbsp;&nbsp;*as a % of sales* | *12.2 %* | *16.7 %* |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

• Comparable sales increased by 5%, mainly driven by double-digit growth in Monitoring.

• Comparable sales in Mature geographies showed mid-single-digit growth. Growth geographies recorded low-single-digit growth.

• Adjusted EBITA increased to EUR 137 million and the margin increased to 11.4%, mainly driven by sales growth, favorable mix effects and productivity measures, and partly offset by higher tariffs. Adjusted EBITA also includes a remeasurement gain on a minority investment.

• Restructuring, acquisition-related and other items amounted to EUR 70 million, compared with EUR 69 million in Q3 2024. Q3 2025 mainly includes EUR 33 million restructuring and acquisition-related charges, EUR 20 million in Respironics field-action running costs, and EUR 20 million of Respironics consent decree charges.

**Personal Health**

**Key data** in millions of EUR unless otherwise stated

---

| | | |
|:---|:---|:---|
| | Q3 2024 | **Q3 2025** |
| Sales | 835 | 883 |
| &nbsp;&nbsp;&nbsp;Nominal sales growth | (7%) | 6% |
| &nbsp;&nbsp;&nbsp;Comparable sales growth ¹ | (5%) | 11% |
| Income from operations | 132 | 143 |
| &nbsp;&nbsp;*as a % of sales* | *15.8 %* | *16.2 %* |
| EBITA ¹ | 136 | 147 |
| &nbsp;&nbsp;*as a % of sales* | *16.3 %* | *16.6 %* |
| Adjusted EBITA ¹ | 138 | 151 |
| &nbsp;&nbsp;*as a % of sales* | *16.5 %* | *17.1 %* |
| Adjusted EBITDA ¹ | 160 | 172 |
| &nbsp;&nbsp;*as a % of sales* | *19.2 %* | *19.4 %* |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

• Comparable sales increased by 11%, driven by double-digit growth in Growth geographies and mid-single-digit growth in Mature geographies.

• Adjusted EBITA increased to EUR 151 million and the margin improved to 17.1%, mainly driven by sales growth and productivity measures, partly offset by higher tariffs.

• Restructuring, acquisition-related and other items amounted to EUR 4 million in Q3 2025, compared with EUR 2 million in Q3 2024.

**Other**

**Key data** in millions of EUR unless otherwise stated

---

| | | |
|:---|:---|:---|
| | Q3 2024 | **Q3 2025** |
| Sales | 181 | 140 |
| Income from operations | (10) | (25) |
| EBITA ¹ | (8) | (22) |
| Adjusted EBITA ¹ of: | 18 | (3) |
| &nbsp;&nbsp;*IP Royalties* | *105* | *73* |
| &nbsp;&nbsp;*Innovation* | *(25)* | *(11)* |
| &nbsp;&nbsp;*Central costs* | *(61)* | *(54)* |
| &nbsp;&nbsp;*Other* | *(1)* | *(12)* |
| Adjusted EBITDA ¹ | 106 | 74 |

---

<sup>1</sup>Non-IFRS financial measure. Refer to [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

• Sales were lower compared with the previous year, mainly due to lower royalty income.

• Adjusted EBITA decreased by 21 million, mainly due to lower royalty income.

• Restructuring, acquisition-related and other items totaled EUR 19 million, compared with EUR 26 million in Q3 2024.

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 6

------

**Forward-looking statements <br>and other information**

**Forward-looking statements**

This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future Adjusted EBITA\*, future restructuring and acquisition-related charges and other costs, future developments in Philips' organic business and the completion of acquisitions and divestments. Forward-looking statements can be identified generally as those containing words such as "anticipates", "assumes", "believes", "estimates", "expects", "should", "will", "will likely result", "forecast", "outlook", "projects", "may" or similar expressions. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

These factors include, but are not limited to, macro-economic and geopolitical changes – including the war in Ukraine and ongoing tensions in the Middle East – as well as measures such as announced and proposed tariffs and trade actions introduced in response to rising global tensions; Philips' ability to keep pace with the changing health technology environment; Philips' ability to gain leadership in health informatics and artificial intelligence in response to developments in the health technology industry; integration of acquisitions and their delivery on business plans and value creation expectations; ability to meet expectations with respect to ESG-related matters; securing and maintaining Philips' intellectual property rights, and unauthorized use of third-party intellectual property rights; failure of products and services to meet quality or security standards, adversely affecting patient safety and customer operations; the resilience of our supply chain; challenges in simplifying our organization and our ways of working; attracting and retaining personnel; breach of cybersecurity; challenges in driving operational excellence and speed in bringing innovations to market; treasury and financing risks; tax risks; reliability of internal controls; compliance with regulations and standards involving quality, product safety, (cyber) security and artificial intelligence; and compliance with business conduct rules and regulations including privacy, existing and upcoming ESG disclosure and due diligence requirements. As a result, Philips' actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Further information chapter included in the Annual Report 2024.

**Third-party market share data**

Statements regarding market share contained in this document, including those regarding Philips' competitive position, are based on outside sources such as specialized research institutes, as well as industry and dealer panels, in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management's estimates of rankings are based on order intake or sales, depending on the business.

**Market Abuse Regulation**

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

**Use of non-IFRS information**

In presenting and discussing the Philips Group's financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2024.

**Presentation**

All amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2024. Certain prior-year balances have been reclassified to conform to the current period presentation.

As of September 30, 2025 uncertain tax liabilities were reclassified from non-current tax liabilities to current income tax liabilities.

Per share calculations for all periods presented have been retrospectively adjusted to reflect the issuance of shares in 2025 with respect to the share dividend for 2024.

\*<sup>&nbsp;&nbsp;&nbsp;&nbsp;</sup>Non-IFRS financial measure. Refer to the [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

Quarterly Report 2025 - Q3 7

------

**Condensed consolidated statements of income**

In millions of EUR unless otherwise stated<sup>\*</sup>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Q3 | Q3 | January to September | January to September |
| | 2024 | **2025** | 2024 | **2025** |
| **Sales** | **4377** | **4302** | **12977** | **12736** |
| &nbsp;&nbsp;&nbsp;Cost of sales | (2371) | (2392) | (7167) | (6966) |
| **Gross margin** | **2006** | **1911** | **5810** | **5770** |
| &nbsp;&nbsp;&nbsp;Selling expenses | (1075) | (1024) | (3298) | (3195) |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | (151) | (154) | (445) | (470) |
| &nbsp;&nbsp;&nbsp;Research and development expenses | (433) | (414) | (1275) | (1273) |
| &nbsp;&nbsp;&nbsp;Other business income | 6 | 21 | 554 | 75 |
| &nbsp;&nbsp;&nbsp;Other business expenses | (15) | (10) | (1016) | (23) |
| **Income from operations** | **337** | **330** | **329** | **884** |
| &nbsp;&nbsp;&nbsp;Financial income | 34 | 21 | 74 | 75 |
| &nbsp;&nbsp;&nbsp;Financial expenses | (104) | (78) | (280) | (238) |
| &nbsp;&nbsp;&nbsp;Investments in associates, net of income taxes | (21) | 2 | (115) | (6) |
| **Income before taxes** | **247** | **275** | **8** | **716** |
| &nbsp;&nbsp;&nbsp;Income tax (expense) benefit | (65) | (87) | (514) | (208) |
| **Income from continuing operations** | **182** | **188** | **(507)** | **508** |
| &nbsp;&nbsp;&nbsp;Discontinued operations, net of income taxes | - | (1) | 142 | (8) |
| **Net income** | **181** | **187** | **(365)** | **499** |
| **Attribution of net income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income attributable to shareholders ¹ | 181 | 184 | (367) | 500 |
| &nbsp;&nbsp;&nbsp;Net income attributable to non-controlling interests | - | 3 | 2 | (1) |

---

<sup>1</sup>Shareholders refers to shareholders of Koninklijke Philips N.V.

Philips Group<br>**Earnings per common share attributable to shareholders of Koninklijke Philips N.V.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Q3 | Q3 | January to September | January to September |
| | 2024 | **2025** | 2024 | **2025** |
| Weighted average number of common shares outstanding (after deduction of treasury shares) during the period (in thousands) ¹: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 952891 | 950790 | 954336 | 947264 |
| &nbsp;&nbsp;&nbsp;Diluted | 963904 | 963844 | 954336 | 960389 |
| Basic earnings per common share attributable to shareholders of Koninklijke Philips N.V (in EUR) ¹ |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Income from continuing operations | 0.19 | 0.19 | (0.53) | 0.54 |
| &nbsp;&nbsp;&nbsp;Income from discontinued operations | - | - | 0.15 | (0.01) |
| &nbsp;&nbsp;&nbsp;Net income | 0.19 | 0.19 | (0.38) | 0.53 |
| Diluted earnings per common share attributable to shareholders of Koninklijke Philips N.V. (in EUR) ¹ |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Income from continuing operations | 0.19 | 0.19 | (0.53) | 0.53 |
| &nbsp;&nbsp;&nbsp;Income from discontinued operations | - | - | 0.15 | (0.01) |
| &nbsp;&nbsp;&nbsp;Net income | 0.19 | 0.19 | (0.38) | 0.52 |

---

<sup>1</sup>Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares in 2025 with respect to the share dividend for 2024.

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 8

------

**Condensed consolidated statements of comprehensive income**

in millions of EUR<sup>\*</sup>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Q3 | Q3 | January to September | January to September |
| | 2024 | **2025** | 2024 | **2025** |
| **Net income for the period** | **181** | **187** | **(365)** | **499** |
| Pensions and other post-employment plans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Remeasurement, before tax | (2) | - | (2) | 1 |
| &nbsp;&nbsp;&nbsp;Income tax effect on remeasurements | - | (1) | 4 | 2 |
| Financial assets fair value through OCI: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net current-period change, before tax | (9) | (3) | (12) | (28) |
| &nbsp;&nbsp;&nbsp;Income tax effect on net current-period change | 2 | - | 6 | 4 |
| **Total of items that will not be reclassified to Income statement** | **(9)** | **(3)** | **(3)** | **(21)** |
| Currency translation differences: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net current-period change, before tax | (508) | (41) | (119) | (1627) |
| &nbsp;&nbsp;&nbsp;Income tax effect on net current-period change | - | 2 | (5) | 3 |
| &nbsp;&nbsp;&nbsp;Reclassification adjustment for (gain) loss realized | - | (13) | (1) | (13) |
| Cash flow hedges: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net current-period change, before tax | (20) | 8 | 6 | 45 |
| &nbsp;&nbsp;&nbsp;Income tax effect on net current-period change | 7 | (1) | 5 | (11) |
| &nbsp;&nbsp;&nbsp;Reclassification adjustment for (gain) loss realized | (9) | (3) | (27) | (5) |
| **Total of items that are or may be reclassified to Income statement** | **(530)** | **(48)** | **(141)** | **(1607)** |
| **Other comprehensive income for the period** | **(539)** | **(51)** | **(144)** | **(1629)** |
| **Total comprehensive income for the period** | **(358)** | **136** | **(509)** | **(1130)** |
| Total comprehensive income attributable to: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shareholders of Koninklijke Philips N.V. | (356) | 133 | (511) | (1125) |
| &nbsp;&nbsp;&nbsp;Non-controlling interests | (1) | 2 | 2 | (4) |

---

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 9

------

**Condensed consolidated balance sheets**

in millions of EUR<sup>\*</sup>

---

| | | |
|:---|:---|:---|
| | December 31, 2024 | **September 30, 2025** |
| **Non-current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment | 2452 | 2219 |
| &nbsp;&nbsp;&nbsp;Goodwill | 10383 | 9341 |
| &nbsp;&nbsp;&nbsp;Intangible assets excluding goodwill | 2982 | 2579 |
| &nbsp;&nbsp;&nbsp;Non-current receivables | 208 | 213 |
| &nbsp;&nbsp;&nbsp;Investments in associates | 257 | 146 |
| &nbsp;&nbsp;&nbsp;Other non-current financial assets | 631 | 619 |
| &nbsp;&nbsp;&nbsp;Deferred tax assets | 1916 | 1798 |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 127 | 147 |
| **Total non-current assets** | **18955** | **17061** |
| **Current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Inventories | 3198 | 3260 |
| &nbsp;&nbsp;&nbsp;Other current assets | 588 | 594 |
| &nbsp;&nbsp;&nbsp;Current derivative financial assets | 69 | 80 |
| &nbsp;&nbsp;&nbsp;Income tax receivable | 94 | 50 |
| &nbsp;&nbsp;&nbsp;Current receivables | 3672 | 3271 |
| &nbsp;&nbsp;&nbsp;Assets classified as held for sale | - | 112 |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | 2401 | 1912 |
| **Total current assets** | **10022** | **9278** |
| **Total assets** | **28976** | **26339** |
| **Equity:** |  |  |
| &nbsp;&nbsp;&nbsp;Shareholders' equity | 12006 | 10552 |
| &nbsp;&nbsp;&nbsp;Non-controlling interests | 37 | 31 |
| **Group equity** | **12043** | **10583** |
| **Non-current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Long-term debt | 7113 | 7237 |
| &nbsp;&nbsp;&nbsp;Long-term provisions | 996 | 956 |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities | 81 | 77 |
| &nbsp;&nbsp;&nbsp;Non-current contract liabilities | 431 | 415 |
| &nbsp;&nbsp;&nbsp;Other non-current liabilities | 167 | 41 |
| **Total non-current liabilities** | **8787** | **8726** |
| **Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Short-term debt | 526 | 1148 |
| &nbsp;&nbsp;&nbsp;Current derivative financial liabilities | 59 | 37 |
| &nbsp;&nbsp;&nbsp;Income tax liabilities | 71 | 182 |
| &nbsp;&nbsp;&nbsp;Accounts payable | 1830 | 1713 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 1630 | 1440 |
| &nbsp;&nbsp;&nbsp;Current contract liabilities | 1699 | 1522 |
| &nbsp;&nbsp;&nbsp;Short-term provisions | 1977 | 691 |
| &nbsp;&nbsp;&nbsp;Liabilities directly associated with assets held for sale | - | 8 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 354 | 289 |
| **Total current liabilities** | **8146** | **7030** |
| **Total liabilities** | **16933** | **15757** |
| **Total liabilities and group equity** | **28976** | **26339** |

---

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 10

------

**Condensed consolidated statements of cash flows**

in millions of EUR<sup>\*</sup>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Q3 | Q3 | January to September | January to September |
| | 2024 | **2025** | 2024 | **2025** |
| **Cash flows from operating activities:** |  |  |  |  |
| Net income (loss) | 181 | 187 | (365) | 499 |
| Results of discontinued operations - net of income tax | - | 1 | (142) | 8 |
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation, amortization and impairment of assets | 291 | 303 | 928 | 846 |
| &nbsp;&nbsp;&nbsp;Share-based compensation | 29 | 32 | 67 | 111 |
| &nbsp;&nbsp;&nbsp;Net loss (gain) on sale of assets | 10 | (1) | 8 | (2) |
| &nbsp;&nbsp;&nbsp;Interest income | (21) | (17) | (57) | (61) |
| &nbsp;&nbsp;&nbsp;Interest expense on debt, borrowings and other liabilities | 73 | 68 | 203 | 200 |
| &nbsp;&nbsp;&nbsp;Investments in associates, net of income taxes | 21 | (1) | 116 | 7 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 66 | 87 | 515 | 208 |
| Decrease (increase) in working capital: | (167) | (206) | (1150) | (542) |
| &nbsp;&nbsp;*Decrease (increase) in receivables and other current assets* | *23* | *(24)* | *(218)* | *190* |
| &nbsp;&nbsp;*Decrease (increase) in inventories* | *(23)* | *(102)* | *(163)* | *(470)* |
| &nbsp;&nbsp;*Increase (decrease) in accounts payable, accrued and other current liabilities* | *(167)* | *(80)* | *(768)* | *(263)* |
| Decrease (increase) in non-current receivables and other assets | (28) | 20 | 14 | (68) |
| Increase (decrease) in other liabilities | (8) | 12 | (42) | 4 |
| Increase (decrease) in provisions | (106) | (66) | 246 | (1206) |
| Other items | (25) | (5) | 32 | 80 |
| Interest received | 22 | 17 | 57 | 60 |
| Interest paid | (79) | (63) | (217) | (213) |
| Dividends received from investments in associates | - | 2 | 7 | 13 |
| Income taxes received/ (paid) | (67) | (43) | (111) | (164) |
| **Net cash provided by (used for) operating activities** | **192** | **327** | **110** | **(219)** |
| **Cash flows from investing activities:** |  |  |  |  |
| Net capital expenditures | (170) | (155) | (489) | (469) |
| &nbsp;&nbsp;*Purchase of intangible assets* | *(29)* | *(23)* | *(93)* | *(92)* |
| &nbsp;&nbsp;*Expenditures on development assets* | *(69)* | *(67)* | *(177)* | *(198)* |
| &nbsp;&nbsp;*Capital expenditures on property, plant and equipment* | *(75)* | *(68)* | *(234)* | *(186)* |
| &nbsp;&nbsp;*Proceeds from sales of property, plant and equipment* | *4* | *3* | *15* | *7* |
| Net proceeds from (cash used for) derivatives and current financial assets | (11) | - | 5 | (71) |
| Purchase of other non-current financial assets | (24) | (9) | (85) | (35) |
| Proceeds from other non-current financial assets | 11 | 3 | 34 | 42 |
| Purchase of businesses, net of cash acquired | (4) | 3 | (5) | 2 |
| Net proceeds from sale of interests in businesses, net of cash disposed of | 63 | - | 66 | (9) |
| **Net cash provided by (used for) investing activities** | **(136)** | **(158)** | **(474)** | **(541)** |
| **Cash flows from financing activities:** |  |  |  |  |
| Proceeds from issuance of (payments on) short-term debt | 3 | (9) | (31) | 6 |
| Principal payments on short-term portion of long-term debt | (255) | (55) | (360) | (296) |
| Proceeds from issuance of long-term debt | 6 | 22 | 705 | 1041 |
| Re-issuance of treasury shares | - | 7 | - | 8 |
| Purchase of treasury shares | (60) | - | (268) | - |
| Dividends paid to shareholders of Koninklijke Philips N.V. | - | (33) | (1) | (328) |
| Dividends paid to shareholders of non-controlling interests | - | - | (2) | (2) |
| **Net cash provided by (used for) financing activities** | **(307)** | **(68)** | **43** | **429** |
| **Net cash provided by (used for) continuing operations** | **(251)** | **100** | **(320)** | **(330)** |
| Net cash provided by (used for) discontinued operations | - | - | (17) | (10) |
| **Net cash provided by (used for) continuing and discontinued operations** | **(251)** | **100** | **(337)** | **(340)** |
| Effect of change in exchange rates on cash and cash equivalents | (44) | (11) | (20) | (149) |
| Cash and cash equivalents at the beginning of the period | 1807 | 1822 | 1869 | 2401 |
| **Cash and cash equivalents at the end of the period** | **1512** | **1912** | **1512** | **1912** |

---

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 11

------

**Condensed consolidated statements of <br>changes in equity**

in millions of EUR<sup>\*</sup>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Common shares | Capital in excess of par value | Fair value through OCI | Cash flow hedges | Currency translation differences | Retained earnings | Treasury shares at cost | Total shareholders' equity | Non-controlling interests | Group equity |
| | | | reserves | reserves | reserves | other | other | | | |
| **Balance as of December 31, 2023** | **183** | **5827** | **(390)** | **6** | **1263** | **5402** | **(262)** | **12028** | **33** | **12061** |
| Total comprehensive income (loss) | - | - | (5) | (16) | (124) | (365) | - | (511) | 2 | (509) |
| Dividend distributed | 6 | 762 | - | - | - | (799) | - | (31) | (2) | (32) |
| Transfer of reserve for equity investments at FVTOCI to retained earnings | - | - | 311 | - | - | (311) | - | (1) | - | (1) |
| Re-issuance of treasury shares | - | (35) | - | - | - | (17) | 52 | - | - | - |
| Forward contracts | - | - | - | - | - | 102 | (167) | (65) | - | (65) |
| Cancellation of treasury shares | (1) | - | - | - | - | (166) | 167 | - | - | - |
| Purchase of treasury shares | - | - | - | - | - | - | (60) | (60) | - | (60) |
| Share-based compensation plans | - | 67 | - | - | - | - | - | 67 | - | 67 |
| Income tax share-based compensation plans | - | 9 | - | - | - | - | - | 9 | - | 9 |
| **Balance as of September 30, 2024** | **188** | **6631** | **(84)** | **(10)** | **1138** | **3846** | **(270)** | **11437** | **33** | **11470** |
| **Balance as of December 31, 2024** | **188** | **6654** | **(90)** | **1** | **2014** | **3650** | **(411)** | **12006** | **37** | **12043** |
| Total comprehensive income (loss) | - | - | (25) | 29 | (1632) | 503 | - | (1125) | (4) | (1130) |
| Dividend distributed | 5 | 457 | - | - | - | (789) | - | (328) | (2) | (330) |
| Transfer of reserve for equity investments at FVTOCI to retained earnings | - | - | (2) | - | - | 2 | - | 1 | - | 1 |
| Re-issuance of treasury shares | - | (58) | - | - | - | (33) | 99 | 9 | - | 9 |
| Forward contracts | - | - | - | - | - | (125) | - | (125) | - | (125) |
| Share-based compensation plans | - | 110 | - | - | - | - | - | 110 | - | 110 |
| Income tax share-based compensation plans | - | 5 | - | - | - | - | - | 5 | - | 5 |
| **Balance as of September 30, 2025** | **193** | **7168** | **(116)** | **30** | **382** | **3208** | **(312)** | **10552** | **31** | **10583** |

---

Amounts may not add up due to rounding.<sup>\*</sup>

Quarterly Report 2025 - Q3 12

------

**Reconciliation of non-IFRS information**

Certain non-IFRS financial measures are presented when discussing the Philips Group's performance:

• Comparable sales growth

• Adjusted income from continuing operations attributable to shareholders

• Adjusted income from continuing operations attributable to shareholders per common share (in EUR) - diluted (Adjusted EPS)

• EBITA

• Adjusted EBITA

• Adjusted EBITDA

• Free cash flow

• Net debt : group equity ratio

For the definitions of the non-IFRS financial measures listed above, refer to chapter 9.9, Reconciliation of non-IFRS information, of the Annual Report 2024 and to the [Forward-looking statements and other information](#ic0661c4818174dfa9c159328e72c73a8_28).

Comparable order intake is not a financial measure, but is presented when discussing the Philips Group's performance. Refer to [Forward-looking statements and other information](#ic0661c4818174dfa9c159328e72c73a8_28).

**Sales growth composition** in %

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Q3 2025** | **Q3 2025** | **Q3 2025** | **Q3 2025** | **January to September** | **January to September** | **January to September** | **January to September** |
| | nominal growth | consolidation changes | currency effects | comparable growth | nominal growth | consolidation changes | currency effects | comparable growth |
| **2025 versus 2024** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Diagnosis & Treatment | (3.3%) | 0.3% | 4.3% | 1.3% | (3.5%) | 0.4% | 1.8% | (1.3%) |
| &nbsp;&nbsp;&nbsp;Connected Care | (0.9%) | 1.0% | 5.0% | 5.1% | (1.5%) | 0.9% | 1.9% | 1.3% |
| &nbsp;&nbsp;&nbsp;Personal Health | 5.8% | 0.0% | 5.2% | 10.9% | 3.9% | 0.0% | 2.3% | 6.2% |
| &nbsp;&nbsp;**Philips Group** | **(1.7** **%)** | **0.5%** | **4.5%** | **3.3%** | **(1.9** **%)** | **0.6%** | **1.9%** | **0.6%** |

---

**Adjusted income from continuing operations attributable to shareholders** <sup>1</sup> in millions of EUR unless otherwise stated

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Q3 | Q3 | January to September | January to September |
| | 2024 | **2025** | 2024 | **2025** |
| Net income | 181 | 187 | (365) | 499 |
| Discontinued operations, net of income taxes | - | 1 | (142) | 8 |
| **Income from continuing operations** | **182** | **188** | **(507)** | **508** |
| Income from continuing operations attributable to non-controlling interests | - | (3) | (2) | 1 |
| **Income from continuing operations attributable to shareholders ¹** | **181** | **185** | **(509)** | **508** |
| Adjustments for: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Amortization and impairment of acquired intangible assets | 66 | 79 | 199 | 189 |
| &nbsp;&nbsp;&nbsp;Restructuring and acquisition-related charges | 56 | 57 | 208 | 169 |
| &nbsp;&nbsp;&nbsp;Other items: | 57 | 65 | 662 | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics litigation provision* | *3* | *-* | *985* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics insurance income* | *-* | *-* | *(538)* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics field-action running costs* | *35* | *20* | *107* | *91* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics consent decree charges* | *17* | *20* | *64* | *68* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Quality actions* | *-* | *23* | *31* | *42* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Contract settlement gain* | *-* | *-* | *-* | *(23)* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Remaining items* | *1* | *2* | *13* | *4* |
| &nbsp;&nbsp;&nbsp;Net finance expenses | (4) | (1) | 16 | 3 |
| &nbsp;&nbsp;&nbsp;Tax impact on adjusting items ² | (549) | (42) | (247) | (126) |
| &nbsp;&nbsp;&nbsp;Tax effect of derecognition of US deferred tax asset | 496 | - | 496 | - |
| **Adjusted income from continuing operations attributable to shareholders ¹** | **304** | **343** | **826** | **926** |
| **Earnings per common share ³:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Income from continuing operations attributable to shareholders ¹ per common share (in EUR) - diluted | 0.19 | 0.19 | (0.53) | 0.53 |
| &nbsp;&nbsp;&nbsp;Adjusted income from continuing operations attributable to shareholders ¹ per common share (in EUR) - diluted | 0.32 | 0.36 | 0.87 | 0.96 |

---

<sup>1</sup>Shareholders refers to shareholders of Koninklijke Philips N.V.

<sup>2</sup>Includes deferred tax assets derecognized in the line below

³ Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares in 2025 with respect to the share dividend for 2024

Quarterly Report 2025 - Q3 13

------

**Reconciliation of Net income to Adjusted EBITA and Adjusted EBITDA** in millions of EUR

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Philips Group | Diagnosis & Treatment | Connected Care | Personal Health | Other |
| **Q3 2025** |  |  |  |  |  |
| Net income | 187 |  |  |  |  |
| Discontinued operations, net of income taxes | 1 |  |  |  |  |
| Income tax expense (benefit) | 87 |  |  |  |  |
| Investments in associates, net of income taxes | (2) |  |  |  |  |
| Financial expenses | 78 |  |  |  |  |
| Financial income | (21) |  |  |  |  |
| **Income from operations** | **330** | **200** | **12** | **143** | **(25)** |
| Amortization and impairment of acquired intangible assets | 79 | 18 | 55 | 3 | 3 |
| **EBITA** | **409** | **217** | **67** | **147** | **(22)** |
| Restructuring and acquisition-related charges | 57 | 6 | 33 | 4 | 13 |
| Other items: | 65 | 22 | 36 | - | 7 |
| &nbsp;&nbsp;*Quality actions* | *23* | *22* | *1* | *-* | *-* |
| &nbsp;&nbsp;*Respironics field-action running costs* | *20* | *-* | *20* | *-* | *-* |
| &nbsp;&nbsp;*Respironics consent decree charges* | *20* | *-* | *20* | *-* | *-* |
| &nbsp;&nbsp;*Remaining items* | *2* | *-* | *(5)* | *-* | *7* |
| **Adjusted EBITA** | **531** | **246** | **137** | **151** | **(3)** |
| Depreciation, amortization and impairment of fixed assets and other intangible assets | 224 | 45 | 80 | 22 | 77 |
| Adding back impairment of fixed assets included in Restructuring and acquisition-related charges and Other items | (17) | - | (15) | (1) | - |
| **Adjusted EBITDA** | **738** | **291** | **201** | **172** | **74** |
| **January to September 2025** |  |  |  |  |  |
| Net income | 499 |  |  |  |  |
| Discontinued operations, net of income taxes | 8 |  |  |  |  |
| Income tax expense (benefit) | 208 |  |  |  |  |
| Investments in associates, net of income taxes | 6 |  |  |  |  |
| Financial expenses | 238 |  |  |  |  |
| Financial income | (75) |  |  |  |  |
| **Income from operations** | **884** | **579** | **(3)** | **381** | **(73)** |
| Amortization and impairment of acquired intangible assets | 189 | 56 | 114 | 11 | 9 |
| **EBITA** | **1074** | **635** | **111** | **392** | **(65)** |
| Restructuring and acquisition-related charges | 169 | 36 | 66 | 13 | 55 |
| Other items: | 182 | 43 | 132 | - | 7 |
| &nbsp;&nbsp;*Respironics field-action running costs* | *91* | *-* | *91* | *-* | *-* |
| &nbsp;&nbsp;*Respironics consent decree charges* | *68* | *-* | *68* | *-* | *-* |
| &nbsp;&nbsp;*Quality actions* | *42* | *43* | *(2)* | *-* | *-* |
| &nbsp;&nbsp;*Contract settlement gain* | *(23)* | *-* | *(23)* | *-* | *-* |
| &nbsp;&nbsp;*Remaining items* | *4* | *-* | *(2)* | *-* | *7* |
| **Adjusted EBITA** | **1425** | **714** | **309** | **405** | **(3)** |
| Depreciation, amortization and impairment of fixed assets and other intangible assets | 656 | 138 | 204 | 76 | 239 |
| Adding back impairment of fixed assets included in Restructuring and acquisition-related charges and Other items | (26) | (1) | (16) | (9) | - |
| **Adjusted EBITDA** | **2056** | **852** | **497** | **472** | **235** |

---

Quarterly Report 2025 - Q3 14

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Philips Group | Diagnosis & Treatment | Connected Care | Personal Health | Other |
| **Q3 2024** |  |  |  |  |  |
| Net income | 181 |  |  |  |  |
| Discontinued operations, net of income taxes | - |  |  |  |  |
| Income tax expense (benefit) | 65 |  |  |  |  |
| Investments in associates, net of income taxes | 21 |  |  |  |  |
| Financial expenses | 104 |  |  |  |  |
| Financial income | (34) |  |  |  |  |
| **Income from operations** | **337** | **232** | **(17)** | **132** | **(10)** |
| Amortization and impairment of acquired intangible assets | 66 | 23 | 37 | 4 | 2 |
| **EBITA** | **404** | **255** | **20** | **136** | **(8)** |
| Restructuring and acquisition-related charges | 56 | 16 | 19 | 2 | 19 |
| Other items: | 57 | - | 50 | - | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics field-action running costs* | *35* | *-* | *35* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics consent decree charges* | *17* | *-* | *17* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics litigation provision* | *3* | *-* | *3* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Remaining items* | *1* | *-* | *(6)* | *-* | *7* |
| **Adjusted EBITA** | **516** | **271** | **89** | **138** | **18** |
| Depreciation, amortization and impairment of fixed assets and other intangible assets | 225 | 50 | 59 | 24 | 92 |
| Adding back impairment of fixed assets included in Restructuring and acquisition-related charges and Other items | (6) | - | - | (2) | (4) |
| **Adjusted EBITDA** | **735** | **321** | **148** | **160** | **106** |
| **January to September 2024** |  |  |  |  |  |
| Net income | (365) |  |  |  |  |
| Discontinued operations, net of income taxes | (142) |  |  |  |  |
| Income tax expense (benefit) | 514 |  |  |  |  |
| Investments in associates, net of income taxes | 115 |  |  |  |  |
| Financial expenses | 280 |  |  |  |  |
| Financial income | (74) |  |  |  |  |
| **Income from operations** | **329** | **589** | **(524)** | **368** | **(104)** |
| Amortization and impairment of acquired intangible assets | 199 | 68 | 111 | 11 | 8 |
| **EBITA** | **528** | **657** | **(413)** | **379** | **(95)** |
| Restructuring and acquisition-related charges | 208 | 60 | 54 | 20 | 74 |
| Other items: | 662 | 6 | 638 | - | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics litigation provision* | *985* | *-* | *985* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics insurance income* | *(538)* | *-* | *(538)* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics field-action running costs* | *107* | *-* | *107* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Respironics consent decree charges* | *64* | *-* | *64* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Quality actions* | *31* | *6* | *25* | *-* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Remaining items* | *13* | *-* | *(5)* | *-* | *18* |
| **Adjusted EBITA** | **1399** | **723** | **280** | **399** | **(3)** |
| Depreciation, amortization and impairment of fixed assets and other intangible assets | 729 | 150 | 192 | 74 | 313 |
| Adding back impairment of fixed assets included in Restructuring and acquisition-related charges and Other items | (51) | (3) | - | (5) | (42) |
| **Adjusted EBITDA** | **2077** | **870** | **471** | **468** | **268** |

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Quarterly Report 2025 - Q3 15

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**Composition of free cash flow** in millions of EUR

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| | | | | |
|:---|:---|:---|:---|:---|
| | Q3 | Q3 | January to September | January to September |
| | 2024 | **2025** | 2024 | **2025** |
| Net cash flows from operating activities | 192 | 327 | 110 | (219) |
| Net capital expenditures | (170) | (155) | (489) | (469) |
| &nbsp;&nbsp;*Purchase of intangible assets* | *(29)* | *(23)* | *(93)* | *(92)* |
| &nbsp;&nbsp;*Expenditures on development assets* | *(69)* | *(67)* | *(177)* | *(198)* |
| &nbsp;&nbsp;*Capital expenditures on property, plant and equipment* | *(75)* | *(68)* | *(234)* | *(186)* |
| &nbsp;&nbsp;*Proceeds from sales of property, plant and equipment* | *4* | *3* | *15* | *7* |
| **Free cash flow** | **22** | **172** | **(378)** | **(688)** |

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**Composition of net debt to group equity** in millions of EUR unless otherwise stated

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| | | |
|:---|:---|:---|
| | June 30, 2025 | **September 30, 2025** |
| Long-term debt | 7182 | 7237 |
| Short-term debt | 1244 | 1148 |
| **Total debt** | **8425** | **8385** |
| Cash and cash equivalents | 1822 | 1912 |
| **Net debt** | **6603** | **6473** |
| Shareholders' equity | 10379 | 10552 |
| Non-controlling interests | 29 | 31 |
| **Group equity** | **10408** | **10583** |
| **Net debt : group equity ratio** | **39:61** | **38:62** |

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Quarterly Report 2025 - Q3 16

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**Philips statistics**

**Quarterly statistics** in millions of EUR unless otherwise stated

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | 2024 | 2024 | 2024 | 2024 | **2025** | **2025** | **2025** | **2025** |
| | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 |
| Sales | 4138 | 4462 | 4377 | 5044 | 4097 | 4338 | 4302 |  |
| &nbsp;&nbsp;&nbsp;Nominal sales growth | (1%) | 0% | (2%) | 0% | (1%) | (3%) | (2%) |  |
| &nbsp;&nbsp;&nbsp;Comparable sales growth ¹ | 2% | 2% | 0% | 1% | (2%) | 1% | 3% |  |
| Comparable order intake ² | (4%) | 9% | (2%) | 2% | 2% | 6% | 8% |  |
| Gross margin | 1815 | 1989 | 2006 | 1963 | 1849 | 2011 | 1911 |  |
| &nbsp;&nbsp;*as a % of sales* | *44 %* | *45 %* | *46 %* | *39 %* | *45 %* | *46 %* | *44 %* |  |
| Selling expenses | (1096) | (1127) | (1075) | (1188) | (1087) | (1084) | (1024) |  |
| &nbsp;&nbsp;*as a % of sales* | *(26 %)* | *(25 %)* | *(25 %)* | *(24 %)* | *(27 %)* | *(25 %)* | *(24 %)* |  |
| G&A expenses | (136) | (158) | (151) | (137) | (161) | (155) | (154) |  |
| &nbsp;&nbsp;*as a % of sales* | *(3 %)* | *(4 %)* | *(3 %)* | *(3 %)* | *(4 %)* | *(4 %)* | *(4 %)* |  |
| R&D expenses | (419) | (424) | (433) | (472) | (457) | (402) | (414) |  |
| &nbsp;&nbsp;*as a % of sales* | *(10 %)* | *(9 %)* | *(10 %)* | *(9 %)* | *(11 %)* | *(9 %)* | *(10 %)* |  |
| Income from operations | (824) | 816 | 337 | 199 | 154 | 400 | 330 |  |
| &nbsp;&nbsp;*as a % of sales* | *(20 %)* | *18 %* | *8 %* | *4 %* | *4 %* | *9 %* | *8 %* |  |
| Net income | (998) | 452 | 181 | (333) | 72 | 240 | 187 |  |
| Income from continuing operations attributable to shareholders ³ per common share (in EUR) - diluted | (1.05) | 0.32 | 0.19 | (0.35) | 0.09 | 0.25 | 0.19 |  |
| Adjusted income from continuing operations attributable to shareholders ³ per common share (in EUR) - diluted ¹ | 0.25 | 0.30 | 0.32 | 0.50 | 0.25 | 0.36 | 0.36 |  |
| EBITA ¹ | (751) | 876 | 404 | 393 | 211 | 453 | 409 |  |
| &nbsp;&nbsp;*as a % of sales* | *(18.1 %)* | *19.6 %* | *9.2 %* | *7.8 %* | *5.2 %* | *10.5 %* | *9.5 %* |  |
| Adjusted EBITA ¹ | 388 | 495 | 516 | 679 | 354 | 540 | 531 |  |
| &nbsp;&nbsp;*as a % of sales* | *9.4 %* | *11.1 %* | *11.8 %* | *13.5 %* | *8.6 %* | *12.4 %* | *12.3 %* |  |
| Adjusted EBITDA ¹ | 609 | 733 | 735 | 905 | 571 | 747 | 738 |  |
| &nbsp;&nbsp;*as a % of sales* | *14.7 %* | *16.4 %* | *16.8 %* | *17.9 %* | *13.9 %* | *17.2 %* | *17.2 %* |  |
| At the end of period: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Number of common shares outstanding (after deduction of treasury shares) in thousands | 904257 | 934117 | 931986 | 925009 | 925084 | 950574 | 950979 |  |
| &nbsp;&nbsp;&nbsp;Shareholders' equity per common share in EUR | 12.56 | 12.72 | 12.27 | 12.98 | 12.64 | 10.92 | 11.10 |  |
| &nbsp;&nbsp;&nbsp;Net debt : group equity ratio ¹ | 36:64 | 35:65 | 36:64 | 30:70 | 35:65 | 39:61 | 38:62 |  |
| &nbsp;&nbsp;&nbsp;Total employees | 69062 | 68701 | 69282 | 67823 | 67247 | 67263 | 67035 |  |

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<sup>1</sup>Non-IFRS financial measure. Refer to the [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

<sup>2</sup>Comparable order intake is presented when discussing the Philips Group's performance. For the definition of this measure, refer to chapter 9.10, Other Key Performance Indicators, of the Annual Report 2024.

<sup>3</sup>Shareholders refers to shareholders of Koninklijke Philips N.V. Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares in 2025 with respect to the share dividend for 2024.

Quarterly Report 2025 - Q3 17

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**Year-to-date statistics** in millions of EUR unless otherwise stated

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | 2024 | 2024 | 2024 | 2024 | **2025** | **2025** | **2025** | **2025** |
| | January-March | January-June | January-September | January-December | January-March | January-June | January-September | January-December |
| Sales | 4138 | 8600 | 12977 | 18021 | 4097 | 8434 | 12736 |  |
| &nbsp;&nbsp;&nbsp;Nominal sales growth | (1%) | 0% | (1%) | (1%) | (1%) | (2%) | (2%) |  |
| &nbsp;&nbsp;&nbsp;Comparable sales growth ¹ | 2% | 2% | 1% | 1% | (2%) | (1%) | 1% |  |
| Comparable order intake ² | (4%) | 3% | 1% | 1% | 2% | 4% | 6% |  |
| Gross margin | 1815 | 3804 | 5810 | 7773 | 1849 | 3859 | 5770 |  |
| &nbsp;&nbsp;*as a % of sales* | *44 %* | *44 %* | *45 %* | *43 %* | *45 %* | *46 %* | *45 %* |  |
| Selling expenses | (1096) | (2223) | (3298) | (4486) | (1087) | (2171) | (3195) |  |
| &nbsp;&nbsp;*as a % of sales* | *(26 %)* | *(26 %)* | *(25 %)* | *(25 %)* | *(27 %)* | *(26 %)* | *(25 %)* |  |
| G&A expenses | (136) | (294) | (445) | (582) | (161) | (316) | (470) |  |
| &nbsp;&nbsp;*as a % of sales* | *(3 %)* | *(3 %)* | *(3 %)* | *(3 %)* | *(4 %)* | *(4 %)* | *(4 %)* |  |
| R&D expenses | (419) | (843) | (1275) | (1747) | (457) | (859) | (1273) |  |
| &nbsp;&nbsp;*as a % of sales* | *(10 %)* | *(10 %)* | *(10 %)* | *(10 %)* | *(11 %)* | *(10 %)* | *(10 %)* |  |
| Income from operations | (824) | (8) | 329 | 529 | 154 | 554 | 884 |  |
| &nbsp;&nbsp;*as a % of sales* | *(20 %)* | *0 %* | *3 %* | *3 %* | *4 %* | *7 %* | *7 %* |  |
| Net income | (998) | (546) | (365) | (698) | 72 | 312 | 499 |  |
| Income from continuing operations attributable to shareholders ³ per common share (in EUR) - diluted | (1.05) | (0.72) | (0.53) | (0.88) | 0.09 | 0.34 | 0.53 |  |
| Adjusted income from continuing operations attributable to shareholders ³ per common share (in EUR) - diluted ¹ | 0.25 | 0.55 | 0.87 | 1.36 | 0.25 | 0.61 | 0.96 |  |
| EBITA ¹ | (751) | 125 | 528 | 921 | 211 | 665 | 1074 |  |
| &nbsp;&nbsp;*as a % of sales* | *(18.1 %)* | *1.5 %* | *4.1 %* | *5.1 %* | *5.2 %* | *7.9 %* | *8.4 %* |  |
| Adjusted EBITA ¹ | 388 | 882 | 1399 | 2077 | 354 | 894 | 1425 |  |
| &nbsp;&nbsp;*as a % of sales* | *9.4 %* | *10.3 %* | *10.8 %* | *11.5 %* | *8.6 %* | *10.6 %* | *11.2 %* |  |
| Adjusted EBITDA ¹ | 609 | 1342 | 2077 | 2982 | 571 | 1317 | 2056 |  |
| &nbsp;&nbsp;*as a % of sales* | *14.7 %* | *15.6 %* | *16.0 %* | *16.5 %* | *13.9 %* | *15.6 %* | *16.1 %* |  |

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<sup>1</sup>Non-IFRS financial measure. Refer to the [Reconciliation of non-IFRS information](#ic0661c4818174dfa9c159328e72c73a8_49)

<sup>2</sup>Comparable order intake is presented when discussing the Philips Group's performance. For the definition of this measure, refer to chapter 9.10, Other Key Performance Indicators, of the Annual Report 2024.

<sup>3</sup>Shareholders refers to shareholders of Koninklijke Philips N.V. Per share calculations have been adjusted retrospectively for all periods presented to reflect the issuance of shares in 2025 with respect to the share dividend for 2024.

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|© 2025 Koninklijke Philips N.V.<br>All rights reserved.<br>https://www.philips.com/investorrelations | ![philips-logoxblue.jpg](philips-logoxblue.jpg) |

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