Royal Philips NV expects growth to remain resilient in 2021, supported by acquisitions and a quarterly record filled with contracts for developing hospital equipment.
In a company statement, its sales increased by 3% in 2020, forecasting another year of low single-digit growth. According to Bloomberg, total profits for the last quarter reached $1.4 billion, in line with estimates. Frans van Houten, the company's CEO, stated in an interview with Bloomberg Television: "We ended the year strongly." Additionally, sources familiar with the company confirmed that it is moving forward with the divestiture of its home appliances division, which could bring in at least $3.6 billion.
