Philips reported net sales of approximately €18.2 billion for fiscal year 2024, slightly below the prior year as the company absorbed costs from the ongoing sleep apnea device recall remediation. Revenue has declined steadily from its peak following the divestiture of its consumer electronics and lighting businesses, which Philips sold off to focus entirely on health technology.
Philips Revenue
Revenue in USD equivalent from 1930 through 2024. EUR/USD at approximate annual averages. Revenue peaks in 2000 reflect the full consumer electronics era; the post-2016 decline follows the divestiture of lighting (Signify) and consumer electronics divisions.
Philips Annual Revenue
| Year | Revenue (EUR) | YoY Change |
|---|---|---|
| 2015 | €25.6B | — |
| 2016 | €24.5B | −4.3% |
| 2017 | €17.8B | −27.3% |
| 2018 | €18.1B | +1.7% |
| 2019 | €19.5B | +7.7% |
| 2020 | €19.5B | Flat |
| 2021 | €17.2B | −11.8% |
| 2022 | €17.8B | +3.5% |
| 2023 | €18.2B | +2.2% |
| 2024 | €18.2B | Flat |
Note: The 2017 decline reflects the spinoff of Philips Lighting (now Signify) as a separate public company on Euronext Amsterdam. Revenue since 2017 represents Philips's health technology division only. Earlier years include consumer electronics and lighting segments now excluded.