Amsterdam, February 11, 2026, 15:34 CET — Regular session
- Philips shares were down about 3% in afternoon trade, trimming Tuesday’s sharp post-results rally
- The company forecast improving 2026 profitability, while flagging tariff and China headwinds
- Next milestones include first-quarter results on May 6 and the May 8 AGM
Shares in Dutch health technology group Koninklijke Philips (PHIA.AS) fell 3.1% to 26.71 euros by 15:13 CET on Wednesday, paring some of a post-results surge that pushed the stock to a one-year high a day earlier. (StockAnalysis)
The stock ended Tuesday up 11.8% at 27.57 euros after touching 27.70, according to price data. Even with Wednesday’s pullback, Philips was still up about 8% from Monday’s close. (Investing)
The buying spree followed Philips’ guidance for an adjusted EBITA margin of 12.5% to 13% in 2026, a profitability measure that strips out some items such as amortisation. It also guided comparable sales growth of 3% to 4.5% — which strips out currency swings and deal effects — and said tariffs and weakness in China were still biting. “Confirmation that Philips moves into right direction,” Kepler Cheuvreux analysts said, while chief executive Roy Jakobs pointed to Philips’ hospital footprint and the data it generates as an edge. (Reuters)
Philips reported fourth-quarter sales of 5.1 billion euros and said the adjusted EBITA margin in the quarter rose to 15.1% from 13.5% a year earlier. It proposed a 2025 dividend of 0.85 euro per share and forecast 2026 free cash flow of 1.3 billion to 1.5 billion euros. Philips also published 2026–2028 targets, including mid-single-digit comparable sales growth and a mid-teens adjusted EBITA margin in 2028, and said its outlook includes currently known tariffs but excludes Philips Respironics-related proceedings, including a U.S. Department of Justice investigation. (Philips)
The dip in Philips shares came as European stocks edged lower on Wednesday, with tech and financials leading declines on renewed worries that new AI tools could pressure established business models. (Reuters)
But for Philips, the near-term argument is more concrete: how much of the margin lift survives another year of tariff costs and a slow China market, while revenue growth is guided lower than earlier ambitions.
Philips sells imaging, monitoring and other hospital equipment alongside consumer health products. In the core hospital markets, it competes with groups such as Siemens Healthineers and GE HealthCare, where service contracts and upgrades can cushion swings in big-ticket system sales.
Philips also said on Tuesday it would ask shareholders to re-appoint Jakobs as CEO. Supervisory board chairman Feike Sijbesma said Jakobs had shown “clear leadership, strong execution and a relentless focus” amid an uncertain macro backdrop. (Philips)
Investors will now look for follow-through on the new targets, starting with Philips’ first-quarter 2026 results on May 6 and the Annual General Meeting on May 8, according to the company’s events calendar. (Philips)
