Dutch healthcare technology company Philips has today lowered its estimated impact from import tariffs after the US and the European Union agreed to the US imposing a 15% rate on most EU goods.
The group, which sells products ranging from toothbrushes to medical imaging systems, said it expects an impact of €150-200m from the tariffs, lower than the €250-300m it estimated previously.
The tariff impact "has evolved and continues to be dynamic", Philips said in a statement.
The company also increased its core profit (EBITA) margin forecast to a range between 11.3% and 11.8% from its previous forecast of 10.8%-11.3%.
Its second-quarter adjusted EBITA margin grew to 12.4%, beating analysts' average forecast of 9.9% in a company-provided consensus, while sales were in line with expectations at €4.3 billion.
Philips operates through its Personal Health, Diagnosis & Treatment, and Connected Care segments. Its top selling products include image-guided and diagnostic systems, consumer electronics and appliances.
The company said its comparable order intake grew by 6% in the quarter, citing the impact of innovations including AI-enabled diagnostic systems.
The group also said it had signed a long-term deal with the Indonesian Ministry of Health for its Azurion image-guided therapy system for cardiac, stroke and cancer care.
