Philips Seeks to See Through Covid With 5-Year Growth Plan
- Company targeting 5% to 6% sales growth from 2021 to 2025
- Shares surge on earnings beat, and outlook for coming years
Source: Royal Philips NV
This article is for subscribers only.
Royal Philips NV said the lingering impact from the coronavirus and changes in the way health-care is delivered will help boost sales of its medical gear for years to come.
The Dutch maker of body scanners and monitors set out a target for average annual sales growth of 5% to 6% from 2021 to 2025, it said on Monday. Growth will be “modest” this year, and in the low single digits in 2021 based on the current solid order book, Philips added.