Philips sees 4Q sales short of expectations, partly due to supply-chain issues
By Ian Walker Koninklijke Philips NV said Wednesday that sales for the last quarter of the year were below its expectations, blaming global supply-chain shortages and the postponement of customer equipment installations.
Group adjusted earnings before interest taxes and amortization--one of the company's preferred metrics, which strips out exceptional and other one-off items--is expected to be EUR650 million, making EUR2.1 billion for the year.
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