Outlook 

Philips reiterates its full-year 2026 outlook, updated to reflect the US tariff refund benefit: 

• Comparable sales growth: 3%-4.5% 

• Adjusted EBITA margin: 13.5%-14.0%, including a US tariff refund benefit of approximately 1%, compared to 12.5%-13.0% previously 

• Free cash flow: EUR 1.5-1.7 billion, updated to reflect the US tariff refund, compared to EUR 1.3-1.5 billion previously 

Within the context of an uncertain macro-environment, Philips' 2026 outlook includes currently known tariffs. It excludes ongoing Philips Respironics-related proceedings, including the investigation by the US Department of Justice and the State Attorneys General.