— The orders keep coming in, we just have to get deliveries and semiconductors in order to deliver on our strong order book, says Philips CEO Frans van Houten.
Philips now expects sales growth of 3 percent this year. Previously, the forecast was 5 percent.
The adjusted operating profit for the second quarter of the year stood at 216 million euros, which can be compared with an average forecast among analysts of 348 million euros, according to a compilation of forecasts made by Bloomberg.
Sales in comparable units during the second quarter decreased by 7 percent.
In addition to disruptions from shutdowns, supply problems and component shortages, Philips has found itself in a storm due to a sound-deadening material in equipment used by patients with sleep apnea, which, according to around 300 lawsuits against the company, poses a cancer risk.