Koninklijke Philips N.V. (NYSE:PHG) Q3 2021 Earnings Conference Call October 18, 2021 4:00 AM ET
Company Participants
Leandro Mazzoni - IR
Frans van Houten - CEO
Abhijit Bhattacharya - CFO
Conference Call Participants
Veronika Dubajova - Goldman Sachs
Hassan Al-Wakeel - Barclays
Lisa Clive - Bernstein
Scott Bardo - Berenberg
Julien Dormois - Exane BNP Paribas
Patrick Wood - Bank of America
Falko Friedrichs - Deutsche Bank
James Vane-Tempest - Jefferies
Wim Gille - ABN AMRO-ODDO
Kate Kalashnikova - Citigroup
Leandro Mazzoni
Good morning, and welcome to Philips' Third Quarter 2021 Results Conference Call. I'm here with our CEO, Frans van Houten; and our CFO, Abhijit Bhattacharya. Frans and Abhijit will take you through our strategic and financial highlights for the quarter, and after that, we will take your questions.
Our press release, the related information slide deck as well as FAQs on the recall notification of certain sleep and respiratory care products were published at 7 a.m. CET this morning on our Investor Relations website. The full transcript of this call will also be made available today on the website.
As mentioned in the press release, adjusted EBITA is defined as income from operations, excluding amortization of acquired intangible assets, impairment of goodwill and other intangible assets, restructuring charges, acquisition-related costs and significant one-off items. Comparable growth for sales and orders are adjusted for currency and portfolio changes.
Over to you, Frans.
Frans van Houten
Yes. Hello, everyone. Thank you for joining us today. As the COVID-19 pandemic continued in the third quarter, our teams remained focused on delivering what we call the triple duty of care: meeting customer needs; safeguarding the health and safety of our employees; and ensuring business continuity.
We remain extremely focused on implementing the necessary corrective actions for patients affected by the component quality
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