Philips reclassified to the Health Care industry by FTSE Group’s ICB

 

Reclassification of Philips’ shares following company’s focus on health technology

December 19, 2016

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that FTSE Group’s Industry Classification Benchmark (ICB) has reclassified Philips to the Health Care industry*, following the company’s strategic decision to focus on health technology. Previously, Philips’ shares were classified in the Industrials industry. The reclassification was implemented at the close of markets on December 16, 2016 and is effective today, December 19, 2016. 

 

“ICB’s reclassification is a great acknowledgement of the significant steps we have taken to reposition our company in the health technology market,’’ said Frans van Houten, CEO of Royal Philips. “Philips has transformed into a global leader in health technology, and we leverage our deep clinical and consumer insights to deliver innovative healthcare solutions. This reclassification facilitates the comparison with sector peers and supports the investment community to value Philips following its transformation.”

 

ICB is a definitive system categorizing over 290,000 securities worldwide, that enables the comparison of companies across four levels of classification and national boundaries. The system is adopted globally by stock exchanges representing over 85% of the world’s market capitalization, including LSE, NYSE, Euronext and NASDAQ OMX. 

 

* ICB supersector, sector and subsector classifications were changed to Health Care, Health Care Equipment & Services and Medical Equipment respectively, from Industrial Goods & Services, General Industrials and Diversified Industrials previously.

For further information, please contact:

Ben Zwirs

Philips Group Communications

Tel: +31 61521 3446

E-mail: ben.zwirs@philips.com 

 

Vanessa Bruinsma-Kleijkers

Philips Investor Relations

Tel.: +31 20 5977447

E-mail: investor.relations@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2015 sales of EUR 16.8 billion and employs approximately 70,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.