Philips Secures €186M US Tariff Refund, Boosts Profits

Philips, the Dutch healthcare technology giant, announced an improved earnings outlook after securing 186 million euros ($211 million) in US tariff refunds. This refund was made possible by a February ruling from the US Supreme Court, which declared that former President Donald Trump's tariffs exceeded his regulatory powers.

Director General Roy Jakobs stated that Philips was proactive in submitting the necessary requirements for the refund, allowing them to recover almost the full amount. The company, which generates nearly half of its sales in North America, reported a net profit of 386 million euros in the second quarter of 2025, a significant increase from 240 million euros in the same period the previous year.

Quarterly sales rose to 4.4 billion euros from 4.3 billion euros year-on-year. Despite this positive development, Philips continues to face challenges, including ongoing customs duties and legal proceedings related to the recall of its DreamStation sleep apnoea devices, which began in 2021.