2023 Second Quarter Results Announced by Philips – My MBA Career

Last Updated on July 24, 2023 by Robert C. Hoopes

Title: Philips Provides Important Information on Financial Condition and Business Plans

[City], [Date] – Philips, a leading health technology company, has issued a statement affirming its commitment to transparency and disclosure. The company has highlighted several key points regarding its financial condition, results of operations, and business plans, aimed at providing investors with a comprehensive understanding of their operations and future prospects.

In line with this commitment, Philips has emphasized the need for stakeholders to exercise caution while considering their forward-looking statements. The company acknowledges the inherent risk and uncertainty associated with these projections, and the possibility of actual results differing from those expressed or implied. Factors such as changes in the health technology industry, acquisitions, intellectual property rights, product quality and security, cybersecurity, regulatory compliance, financial risks, and global inflation all contribute to such uncertainties.

It is important to note that Philips employs third-party market share data and management estimates to determine its competitive position and market share. This approach ensures unbiased evaluation and enhances their accuracy. Furthermore, Philips is committed to complying with the EU Market Abuse Regulation, which promotes fair and equal access to information for all investors.

Regarding financial reporting, Philips discloses the use of non-IFRS financial measures. While these measures provide valuable insights into the company’s financial position, they should be considered in conjunction with IFRS measures for a holistic understanding. Additionally, Philips acknowledges the use of fair value information in measuring certain items. Given the inherent uncertainties and assumptions involved in this process, it is crucial for stakeholders to exercise due diligence.

Philips ensures complete transparency in its presentation details. This includes clearly defined currency, rounding, unaudited data, accounting policies, reporting segment realignment, restated figures, and per share calculations. For further information on non-IFRS measures and restated figures, the company provides a link on the Philips Investor Relations website, empowering investors to delve deeper into the disclosed information.

With this comprehensive disclosure, Philips boldly demonstrates its commitment to responsible reporting and transparency to stakeholders. By providing vital insights about its financial condition, results of operations, and business plans, the company aims to foster trust and build long-term relationships with its investors.

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