Form 20-F KONINKLIJKE PHILIPS NV For: Dec 31
Exhibit 12 (a)
Certification
I, F.A. van Houten, certify that:
1. I have reviewed this Annual Report on Form 20-F of Koninklijke Philips N.V., a company incorporated under the laws of The Netherlands;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)), and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by the Annual Report that has materially affected or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5 The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: February 23, 2021
/s/F.A. van Houten | |
Name: F.A. van Houten | |
Title: Chief Executive Officer, | |
Chairman of the Board of Management and the Executive Committee | |
Exhibit 12 (b)
Certification
I, A. Bhattacharya, certify that:
1. I have reviewed this Annual Report on Form 20-F of Koninklijke Philips N.V., a company incorporated under the laws of The Netherlands;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)), and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by the Annual Report that has materially affected or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: February 23, 2021
/s/A. Bhattacharya | |
Name: A. Bhattacharya | |
Title: Chief Financial Officer, | |
Member of the Board of Management and the Executive Committee | |
Exhibit 13 (a)
Certification
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)
Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Koninklijke Philips N.V., a company incorporated under the laws of The Netherlands (the “Company”), hereby certifies, to such officer’s knowledge, that:
The Annual Report on Form 20-F for the year ended December 31, 2020 (the “Report”) of the Company fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: February 23, 2021
/s/F.A. van Houten | |
Name: F.A. van Houten | |
Title: Chief Executive Officer, | |
Chairman of the Board of Management and the Executive Committee | |
The foregoing certification is being furnished solely pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code) and is not being filed as part of the Report or as a separate disclosure document.
Exhibit 13 (b)
Certification
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)
Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Koninklijke Philips N.V., a company incorporated under the laws of The Netherlands (the “Company”), hereby certifies, to such officer’s knowledge, that:
The Annual Report on Form 20-F for the year ended December 31, 2020 (the “Report”) of the Company fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: February 23, 2021
/s/A. Bhattacharya | |
Name: A. Bhattacharya | |
Title: Chief Financial Officer, | |
Member of the Board of Management and the Executive Committee | |
The foregoing certification is being furnished solely pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code) and is not being filed as part of the Report or as a separate disclosure document.
Exhibit 15 (a)
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statements (Form S-8 Nos. 333-140784, 333-151797, 333-157477, 333-165017, 333-172329, 333-179692, 333-186849) of Koninklijke Philips N.V. of our reports dated February 23, 2021, with respect to the consolidated financial statements of Koninklijke Philips N.V. and the effectiveness of internal control over financial reporting of Koninklijke Philips N.V. included in this Annual Report (Form 20-F) of Koninklijke Philips N.V. for the year ended December 31, 2020.
/s/ Ernst & Young Accountants LLP
Amsterdam, the Netherlands
February 23, 2021
Exhibit 4 (d)
Global Philips Performance Share Plan - For the Board of Management
In this Global Philips Performance Share Plan the following definitions shall apply: | |||
1. | Award | : | the conditional right granted to eligible individuals to receive Shares, subject to (i) the achievement of the Performance Conditions, and (ii) the terms and conditions of this Plan. |
2. | Business Day | : | any day on which Euronext Amsterdam N.V. (or its successor) is open for business. |
3. | Date of Grant | : | the date at which an Award is granted pursuant to this Plan. The Dates of Grant of any Awards shall be the fourth Business Day after the day of publication of the Philips’ annual and/or quarterly results or such other date as determined by Philips. |
4. | Earnings | : | earnings from continued operations attributable to shareholders adjusted for changes in accounting principles/policies during the Performance Period as well as any further adjustments made in accordance with Article 2. |
5. | Employing Company | : | any company within the Philips group of companies and such other company as Philips may from time to time designate or approve. |
6. | EPS Growth | : | the growth of Earnings per Share over the Performance Period calculated applying the simple point-to-point method at year-end, based on the number of Shares outstanding (after deduction of Shares held in treasury) on the day prior to the start of the Performance Period, subject to certain adjustments. |
7. | Nominee Account | : | an account maintained in the name of a Participant established by an administrator designated by Philips. |
8. | Participant | : | an individual who has accepted any Awards under this Plan. |
9. | Performance Conditions | : | Relative TSR for 50%, EPS Growth for 40% and Sustainability Objectives for 10%; the targets for EPS Growth and Sustainability Objectives for each Award as determined by the Supervisory Board. |
10. | Performance Period | : | the three (3) years starting on the first day of Philips’ financial year in which the relevant Award was granted. |
11. | Philips | : | Koninklijke Philips N.V. |
12. | TSR Performance Peer Group | : | the peer group of companies as determined in the 2020 Long Term Incentive Plan approved by the Shareholders Meeting and adjusted in accordance with Article 2 from time to time. |
13. | Plan | : | this Global Philips Performance Share Plan. |
14. | Relative TSR | : | relative total shareholder return of Philips compared to the TSR Performance Peer Group measured over the Performance Period. |
15. | Share | : | a common share of Philips. |
16. | Shareholders Meeting | : | the general meeting of shareholders of Philips. |
17. | Supervisory Board | : | the supervisory board of Philips. |
18. | Sustainability Objectives | : | criteria based on three Sustainable Development Goals (SDGs) as defined by the United Nations that are included in Philips’ strategy on sustainability (no. 3, 12 and 13) translated in a total of five underlying objectives. |
19. | Vesting Date | : | the third anniversary of the Date of Grant of an Award or such other date as determined by Philips. |
1. |
An Award may be granted to an eligible individual, subject to (the acceptance by such individual of) the terms and conditions of such Award and any other Philips’ policies or guidelines that may apply from time to time to such individual. An Award offered to any such individual and the terms and conditions governing such Award shall be deemed accepted by such individual with effect from the Date of Grant in case Philips has not received, in accordance with a procedure established by Philips, a notice of rejection of such Award within fourteen (14) days of the notice of grant or such later date as may be determined by Philips. |
2. | At the beginning of each Performance Period, the Supervisory Board in its sole discretion will determine the EPS Growth targets and the target ranges for the Sustainability Objectives. |
3. | At the end of each Performance Period, the Supervisory Board will determine in its sole discretion the extent to which each of the Performance Conditions has been achieved and will calculate the number of Shares (if any) that will vest for the relevant Performance Period. In doing so the Supervisory Board shall have a discretionary authority, and shall be entitled to take into account such facts and circumstances as it deems appropriate in the context of such determination, an appropriate remuneration of the Participant, and/or in the interest of Philips. Furthermore, the so-called ultimum remedium clause of article 2: 135 sub 2 of the Dutch Civil Code shall apply. Any such determination shall be conclusive and binding. |
4. |
Subject to the provisions of Article 2.3 and 2.5 an Award will vest based on three Performance Conditions: a. 50% of an Award will vest 0% - 200% depending on Relative TSR. The vesting levels for Relative TSR are outlined in the table below, which results in zero vesting for performance below the 40th percentile and 200% vesting for performance levels above the 75th percentile: |
Vesting % | 0 | 60 | 80 | 90 | 100 | 120 | 140 | 160 | 180 | 200 |
b. 40% of an Award will vest 0% - 200% depending on EPS Growth. The vesting levels for EPS Growth are outlined in the table below: |
Vesting % | 0% | 40% | 100% | 200% |
c. 10% of an Award will vest 0% - 200% depending on the realisation of Sustainability Objectives. The vesting levels for the Sustainability Objectives are outlined in the table below: |
Vesting % | 0 | 0 | 50% - 100% | 100% - 150% | 150% - 200% |
5. |
The Supervisory Board shall have the discretionary authority to determine: a. The composition – including any amendment thereof – of the TSR Performance Peer Group and the vesting levels for Relative TSR from time to time, taking into account the parameters set by the Shareholders Meeting; b. The adjustments to be made for changes in accounting principles/policies and/or whether any further adjustments to account for events that were not planned when targets were set or were outside management’s control (e.g. impairments, restructuring activities, pension items, M&A transactions and costs, currency fluctuations) should be made and the number of Shares outstanding used for the calculation of EPS Growth; c. The overall performance on all Sustainability Objectives targets and decide on the final vesting levels, taking into account events that were not planned when targets were set or were outside management’s control (e.g. M&A, portfolio changes). When it is not possible to determine the level of certain adjustments, the Supervisory Board may decide to adjust the targets instead of the performance; d. Whether any unforeseen circumstances justify an adjustment of the vesting levels of the Performance Conditions considering circumstances that were not foreseen at the Date of Grant, and e. To what extent and how any determination(s) made under a, b, c and d shall impact (the achievement of) the Performance Conditions of the relevant Award. |
1. | Except as otherwise provided in this Article 3, in case a Participant is no longer assigned by any Employing Company as a result of the termination of such Participant’s assignment with an Employing Company for any reason whatsoever prior to the applicable Vesting Date, such Participant’s Awards shall be forfeited effective as of the date of termination of such Participant's assignment with the Employing Company without the Participant being entitled to any compensation or any obligation on the part of Philips or any Employing Company unless the Supervisory Board determines, in its sole discretion, otherwise in writing to the Participant in question. Any such determination shall be final, conclusive and binding and may be subject to such conditions as the Supervisory Board may determine appropriate. |
2. |
In case a Participant is no longer assigned by any Employing Company as a result of the termination of such Participant’s assignment with an Employing Company for reasons of: (i) Death, or (ii) Legal incapacity, the estate of the Participant or his or her legal representative(s), as the case may be, shall remain entitled to any Awards granted to such Participant nine (9) months or more prior to the date of such termination subject to the terms and conditions of this Plan. |
3. |
Subject to Article 3.4, in case a Participant is no longer assigned by any Employing Company as a result of the termination of such Participant’s assignment with an Employing Company for reasons of: (i) Disablement, or (ii) Retirement, or (iii) The expiration of agreement of assignment (“overeenkomst van opdracht”), or (iv) Any other reason the Supervisory Board determines in its sole discretion, such Participant shall remain entitled to any Awards granted to such Participant nine (9) months or more prior to the date of such termination subject to the terms and conditions of this Plan.
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4. |
In case – in the reasonable opinion of Philips – a Participant a. Breaches the non-competition obligations, or b. Within one year from the date of termination, directly or indirectly on his own behalf or in the service or on behalf of others, solicits or attempts to solicit, divert or hire away any person employed by Philips or any Employing Company or any customer of Philips or any Employing Company, or c. Disparages the Employing Company or the Employing Company's officers, directors or employees, in any manner likely to be harmful to any of them or their business, business reputation or personal reputation; provided that the Participant may respond fully and accurately to any questions, inquiry or request for information when required by legal process, the Supervisory Board has the discretion to decide that the Awards still outstanding will – in whole or in part – be forfeited with immediate effect, without the Participant being entitled to any compensation or any obligation on the part of Philips or any Employing Company. |
The Awards are strictly personal and may not be assigned, transferred (except that, in case of death of the Participant any Awards granted to such Participant at the date of his death shall pass to his heirs or legatees), pledged, hypothecated, or otherwise encumbered or disposed of in any manner. The Participant may not engage in any transactions on any exchange or otherwise on the basis of any Awards, such as hedging his Awards exposure on the basis of any Awards. Any violation of the terms of this Article 4 will cause the Awards to become immediately null and void without further notice and without the Participant being entitled to any compensation. |
1. | Philips may require a Participant to maintain a personal brokerage account in connection with this Plan. Nothing contained in this Plan shall obligate Philips to establish or maintain or cause to establish or maintain a Nominee Account for any Participant. |
2. | Subject to the terms and conditions of this Plan, and further to the Participants tax election, Philips will deliver Shares pursuant to an Award to a Participant on or as soon as reasonably practicable after the relevant Vesting Date. In no event shall Philips have any obligation to deliver any Shares to a Participant prior to the relevant Vesting Date. |
3. | Any Shares to be delivered pursuant to Article 5.2 will be credited to the Nominee Account or a personal brokerage account. |
4. |
Except as may be otherwise approved in writing by Philips in its sole discretion, in case a Participant is no longer employed/assigned by any Employing Company as a result of the termination of such Participant’s assignment with an Employing Company, the Participant (or his or her estate or legal representatives, as the case may be) shall withdraw all Shares credited to the Participant’s Nominee Account within: (a) One hundred and eighty (180) days of the date of such termination, or (b) Three (3) years and one hundred and eighty (180) days from the date of such termination in case of the termination of such Participant’s assignment with an Employing Company for reasons of: i. Death, or ii. Legal incapacity, or iii. Disablement, or iv. Retirement, or v. The expiration of any agreement of assignment. |
5. | Each Participant shall comply with any applicable “insider trading” laws and regulations and the Philips’ Rules of Conduct with respect to Inside Information. |
The Supervisory Board may make – but is not under any obligation to do so – equitable adjustment or substitution of the number or kind of Shares subject to the Awards, as it, in its sole discretion, deems equitable to reflect any significant corporate event of or by Philips, for example a change in the outstanding Shares by reason of any stock dividend or split, recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other corporate change, or any distribution to holders of Shares other than regular cash dividends. |
The Participant will have no rights to dividends in respect of Shares comprised in an Award prior to the delivery of any such Shares. However, Awards can be adjusted for any payment of dividend by Philips between the Date of Grant and the Vesting Date. Philips is entitled, in its sole discretion, to determine whether and the manner in which the number of Shares comprised in the Award will be increased. These additional Shares will only be delivered to the extent the Award vests. |
1. | All costs of delivering any Shares under this Plan to a Participant’s Nominee Account and any other costs connected with the Shares shall be borne by the Participant. |
2. | Any and all taxes, duties, levies, charges or social security contributions (“Taxes”) which arise under any applicable national, state, local or supra-national laws, rules or regulations, whether already effective on the Date of Grant of any Award or becoming effective thereafter, and any changes or modifications therein and termination thereof which may result for the Participant in connection with this Plan (including, but not limited to, the grant of the Award, the ownership of the Award and/or the delivery of any Shares under this Plan, the ownership and/or the sale of any Shares acquired under this Plan) shall be for the sole risk and account of the Participant. |
3. | Philips and any other Employing Company shall have the right to deduct or withhold (or cause to be deducted or withheld) from any salary payment or other sums due by Philips or any other Employing Company to Participant, or requiring the Participant or beneficiary of the Participant, to pay to Philips an amount necessary to settle any Taxes and any costs determined by Philips necessary to be withheld in connection with this Plan (including, but not limited to, the grant of the Award or the delivery of any Shares under this Plan). |
4. | Philips shall not be required to deliver any Shares and Philips may delay (or cause to be delayed) the transfer of any Shares to a Nominee Account or a personal brokerage account until Philips has received an amount, or the Participant has made such arrangements required by Philips necessary to satisfy any withholding of any Taxes and any costs to be borne by the Participant in connection with this Plan as determined by Philips. |
5. | Philips is herewith irrevocably authorized by the Participant to sell (part of) Participant’s Shares credited to a Nominee Account and to maintain such part of the proceeds of this sale as payment to Philips necessary to satisfy any withholding of any Taxes and any costs to be borne by the Participant in connection with this Plan as determined by Philips or decide to pay a cash amount equal to the estimated Taxes due and credit the net Shares to the Nominee Account. |
Philips is entitled, in its sole discretion, to determine the manner in which dividend on any Shares delivered to a Participant pursuant to this Plan and deposited on the Nominee Account at the applicable record date, is paid to such Participant including, but not limited to, the payment of dividend by means of a dividend reinvestment plan pursuant to which the dividend will be reinvested in the purchase of Shares. |
In the event of a change of control situation, the Supervisory Board shall have the discretion to accelerate the vesting of Awards, subject to the achievement of the Performance Conditions to the date of completion of the change of control in accordance with the vesting levels, taking into account the principles of reasonableness and fairness and, unless the Supervisory Board determines otherwise, the part of the Award which vest will be reduced on a time pro-rated basis. |
1. | Philips shall have the authority to: i) interpret this Plan, ii) establish, amend, and rescind any terms and conditions of this Plan – also including the provisions of Article 2 – including any rules and regulations relating to this Plan and/or establish supplements to comply with or suit country specific requirements, iii) determine the terms and conditions of any agreements entered into hereunder, and iv) make all other determinations necessary or advisable. The terms and conditions of this Plan including any rules and regulations relating to this Plan, including any supplements thereto, in force from time to time are published on the website of Philips or its global plan administrator and apply to all previous and future Awards granted under this Plan. Philips may delegate the authority to practice administrative and operational functions with respect to the Plan to officers or employees of subsidiaries of Philips and to service providers. |
2. |
The Supervisory Board may in its sole discretion but acting in good faith, resolve to recoup some or all of such incentive compensation -including any benefits derived therefrom- in all appropriate cases (taking into account all relevant factors, including whether the assertion of a recoupment claim may in its opinion prejudice the interests of Philips and its group companies in any related proceeding or investigation), granted to an individual under these terms and conditions, if: a. Equity-based incentive compensation under these terms and conditions has been granted and/or has vested on the basis of incorrect financial or other data; or b. In assessing the extent to which the Performance Conditions and/or any other condition imposed on the award was satisfied, such assessment was based on an error, inaccurate or misleading information or assumptions and that such error, information or assumptions would have resulted or did in fact result either directly or indirectly in that Award vesting (or being capable of vesting) to a greater degree than would have been the case had that error not been made; or c. There are circumstances which would warrant Philips or the Employing Company summarily dismissing (or requesting in court the termination of the employment of) that individual – for instance on the basis of article 7:408, 7:677 or 7:686 Dutch Civil Code – (whether or not Philips or the Employing Company has chosen to do so) where such circumstances arose in the period from the Date of Grant to the Vesting Date; or d. That individual was involved in, or directly or indirectly responsible for a serious violation of the Philips General Business Principles or applicable law; or e. The Employing Company or the business unit in which the relevant individual works/worked, or for which he was responsible, suffered a material failure of risk management, or f. Something which occurred in the period from the Date of Grant to the Vesting Date has a sufficiently significant impact on the reputation of Philips or the group members to justify the operation of a recoupment claim.
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3. | No Participant shall have any rights or privileges of shareholders (including the right to receive dividends and to vote) with respect to Shares to be delivered pursuant to Awards until such Shares are actually delivered to such Participant in accordance with Article 5 of this Plan. |
4. | The (value of) Awards granted to, or Shares acquired by, a Participant pursuant to such Awards under this Plan shall not be considered as compensation in determining a Participant’s benefits under any benefit plan of an Employing Company, including but not limited to, group life insurance, long-term disability, family survivors, or any retirement, company pension or savings plan. |
5. | Nothing contained in this Plan or in any Award made or agreement entered into pursuant hereto shall confer upon any Participant any right to be retained in assignment with any Employing Company, or to be entitled to any remuneration or benefits not set forth in this Plan or interfere with or limit in any way with the right of any Employing Company to terminate such Participant’s assignment or to discharge or retire a Participant at any time. |
6. | If a provision of this Plan is deemed illegal or invalid, the illegality or invalidity shall not affect the remaining parts of this Plan, this Plan shall be construed as if the illegal or invalid provisions had not been included in this Plan. |
7. | Where the context requires, words in either gender shall include also the other gender. |
8. | The English version of this Plan is leading. If there is a discrepancy between the contents of a translation and the English version of this Plan, the English version of this Plan prevails. |
9. | After approval of this Plan by the Shareholders Meeting, the Plan will take effect as per January 1, 2020. |
10. | This Plan shall be governed by and construed in accordance with the laws of The Netherlands, without regard to its principles of conflict of laws. |
Exhibit 8
List of subsidiaries
The following is a list of the Company’s subsidiaries (except for certain subsidiaries that, in the aggregate, would not be a “significant subsidiary” as defined in rule 1-02 (w) of Regulations S-X as of 31 December 2020). Unless otherwise stated, the Company holds directly or indirectly 100% of the subsidiaries listed below, as of December 31, 2020.
Philips Argentina Sociedad Anónima | Argentina | |
Philips Domestic Appliances Argentina S.A. | Argentina | |
Australian Pharmacy Sleep Services Pty. Ltd | Australia | |
Discus Dental Australia Pty. Limited | Australia | |
Philips Domestic Appliances Australia Pty Ltd | Australia | |
Philips Electronics Australia Limited | Australia | |
Philips Saeco Australia Pty. Limited | Australia | |
RDT Pty Ltd. | Australia | |
Saeco South Australia Pty. Ltd. (60%) | Australia | |
SPNC Australia PTY LTD | Australia | |
Philips Austria GmbH | Austria | |
Philips Domestic Appliances Austria GmbH | Austria | |
Spectranetics Austria GmbH | Austria | |
Philips Electronics Bangladesh Private Limited | Bangladesh | |
Foreign consulting-trade unitary enterprise “Philips-Belorussia” of company Philips’ Radio B.V. | Belarus | |
Philips Belgium Commercial NV | Belgium | |
Philips Domestic Appliances Belgium NV | Belgium | |
Volcano Europe | Belgium | |
Philips Clinical Informatics - Sistemas de Informação Ltda. | Brazil | |
Philips do Brasil Ltda. | Brazil | |
Philips Domestic Appliances do Brasil – Indústria e Comércio de Eletrodomésticos Ltda. | Brazil | |
Philips Medical Systems Ltda. | Brazil | |
Philips Bulgaria EOOD | Bulgaria | |
Philips Domestic Appliances Bulgaria EOOD | Bulgaria | |
Blue Willow Systems Canada Inc. | Canada | |
Forcare Canada Inc. | Canada | |
Latin-American Holdings Corporation | Canada | |
Philips Domestic Appliances Canada, Inc. | Canada | |
Philips Electronics Ltd | Canada | |
Philips Innovative Imaging Technologies ULC | Canada | |
Philips Overseas Holdings Corporation | Canada | |
Philips Trans-America Holdings Corporation | Canada | |
Inmobiliaria Philips Chilena Limitada | Chile | |
Philips Chilena S.A. | Chile | |
Philips Domestic Appliances Chile S.A. | Chile | |
Philips (China) Investment Company, Ltd. | China | |
Philips (Jiaxing) Health and Technology Co., Ltd. | China | |
Philips Domestic Appliances (China) Investment Co., Ltd. | China | |
Philips Domestic Appliances and Personal Care Company of Zhuhai SEZ, Ltd. | China | |
Philips Electronics (Shenzhen) Co., Ltd. | China | |
Philips Electronics Trading & Services (Shanghai) Co. Ltd | China | |
Philips Enterprise Service (Suzhou) Co., Ltd. | China | |
Philips Goldway (Shenzhen) Industrial Inc. | China | |
Philips Healthcare (Suzhou) Co., Ltd. | China | |
Philips Ultrasound (Shanghai) Co., Ltd. | China | |
Respironics Medical Products (Shenzhen) Ltd. | China | |
Philips Colombiana S.A.S. | Colombia | |
Philips de Costa Rica S.R.L. | Costa Rica | |
Philips d.o.o. | Croatia | |
Philips Domestic Appliances Croatia d.o.o. | Croatia | |
Philips Ceská republika s.r.o. | Czech Republic | |
Philips Domestic Appliances Česká republika s.r.o. | Czech Republic | |
Agito Medical A/S | Denmark | |
Philips Danmark A/S | Denmark | |
Spectranetics Denmark ApS | Denmark | |
Philips Dominicana S.R.L. | Dominican Republic | |
Philips Egypt (Limited Liability Company) | Egypt | |
Philips Egypt Investment Company | Egypt | |
Philips Oy | Finland | |
Acerde SAS | France | |
Agito Medical SARL | France | |
Emergences Medicales et Technologies (70%) | France | |
Philips Domestic Appliances France | France | |
Philips France Commercial SAS | France | |
Philips Santé@Domicile | France | |
Spectranetics France SARL | France | |
Forcare GmbH | Germany | |
Philips Domestic Appliances Germany GmbH | Germany | |
Philips GmbH | Germany | |
Philips Medical Systems DMC GmbH | Germany | |
Philips Medizin Systeme Böblingen GmbH | Germany | |
Philips Medizin Systeme Hofheim-Wallau GmbH | Germany | |
Philips SC Unterstützungskasse GmbH | Germany | |
PIP Deutschland GmbH & Co. KG | Germany | |
PIP Verwaltungsgesellschaft mbH | Germany | |
Respironics Deutschland GmbH & Co. KG | Germany | |
Respironics Deutschland Verwaltungsgesellschaft mbH | Germany | |
Spectranetics Deutschland GmbH | Germany | |
TOMTEC Imaging Systems GmbH | Germany | |
Philips Ghana Limited | Ghana | |
Philips Hellas Domestic Appliances Single Member S.A. | Greece | |
Philips Hellas Single Member Commercial and Industrial Societe Anonyme of Electrotechnical Products and Medical Systems | Greece | |
Philips Domestic Appliances Hong Kong Ltd. | Hong Kong | |
Philips Electronics Hong Kong Limited | Hong Kong | |
Philips Optical Video Hong Kong Limited | Hong Kong | |
Respironics (HK) Ltd. | Hong Kong | |
Philips Domestic Appliances Hungary Kft. | Hungary | |
Philips Magyarország Kereskedelmi Kft. | Hungary | |
Philips Domestic Appliances India Limited (96.13%) | India | |
Philips Global Business Services LLP | India | |
Philips Home Care Services India Private Limited (96.13%) | India | |
Philips India Limited (96.13%) | India | |
Philips VitalHealth Software India Private Limited | India | |
Preethi Kitchen Appliances Private Limited (96.13%) | India | |
P.T. Philips Industries Batam | Indonesia | |
PT Philips Domestic Appliances Indonesia Commercial (67%) | Indonesia | |
PT Philips Indonesia Commercial | Indonesia | |
Larestine Ireland Ltd. | Ireland | |
Philips Accounting Services Limited | Ireland | |
Philips Electronics Ireland Limited | Ireland | |
Philips Radio Communication Systems Ireland Limited | Ireland | |
Respironics (Ireland) Limited | Ireland | |
Saeco IPR Limited | Ireland | |
Saeco Strategic Services Limited | Ireland | |
Silicon B203 Limited | Ireland | |
Tineney Ireland Ltd. | Ireland | |
Western Biomedical Technologies Limited | Ireland | |
Algotec Systems Ltd. | Israel | |
EPD Research Ltd | Israel | |
Philips Electronics (Israel) Ltd | Israel | |
Philips Medical Systems Technologies Ltd. | Israel | |
Sync-Rx Ltd. | Israel | |
Volcano Israel Holdings Ltd. | Israel | |
Gaggia S.p.A. | Italy | |
Philips Domestic Appliances Italy S.r.l. | Italy | |
Philips Espresso Industries S.r.l. | Italy | |
Philips Innovations S.p.A. | Italy | |
Philips Societa per Azioni | Italy | |
Philips Japan, Ltd. | Japan | |
Philips Kazakhstan LLP | Kazakhstan | |
Philips East Africa Limited | Kenya | |
Philips Domestic Appliances Korea Ltd. | Korea, Republic of | |
Philips Korea Ltd. | Korea, Republic of | |
Philips Baltic SIA | Latvia | |
SIA Philips Domestic Appliances Baltics | Latvia | |
Philips Lighting Maseru Pty. Ltd. | Lesotho | |
Philips Luxembourg S.A. | Luxembourg | |
Philips Domestic Appliances Malaysia Sdn. Bhd. | Malaysia | |
Philips Malaysia Sdn. Berhad | Malaysia | |
Philips México Commercial, S.A. de C.V. | Mexico | |
Philips North Africa SARL | Morocco | |
Philips Myanmar Company Limited | Myanmar | |
DAP B.V. | Netherlands | |
Discus Dental Europe B.V. | Netherlands | |
EPD Medco B.V. | Netherlands | |
Forcare Holding B.V. | Netherlands | |
Forcare International B.V. | Netherlands | |
Matevu Import Export B.V. | Netherlands | |
Metaaldraadlampenfabriek "Volt" B.V. | Netherlands | |
NightBalance B.V. | Netherlands | |
NightBalance Holding B.V. | Netherlands | |
Philips Canada Holding B.V. | Netherlands | |
Philips Capital N.V. | Netherlands | |
Philips Components B.V. | Netherlands | |
Philips Consumer Lifestyle B.V. | Netherlands | |
Philips Consumer Lifestyle International B.V. | Netherlands | |
Philips DAP Zhuhai Holding B.V. | Netherlands | |
Philips Domestic Appliances Export B.V. | Netherlands | |
Philips Domestic Appliances Holding B.V. | Netherlands | |
Philips Domestic Appliances Nederland B.V. | Netherlands | |
Philips Electronics China B.V. | Netherlands | |
Philips Electronics Middle East & Africa B.V. | Netherlands | |
Philips Electronics Nederland B.V. | Netherlands | |
Philips Electronics Technology Shanghai Holding B.V. | Netherlands | |
Philips Export B.V. | Netherlands | |
Philips Imaging Systems China Holding B.V. | Netherlands | |
Philips International B.V. | Netherlands | |
Philips IP Ventures B.V. | Netherlands | |
Philips Medical Systems International B.V. | Netherlands | |
Philips Medical Systems Nederland B.V. | Netherlands | |
Philips Nederland B.V. | Netherlands | |
Philips Participations B.V. | Netherlands | |
Philips Patient Monitoring Systems China Holding B.V. | Netherlands | |
Philips' Radio B.V. | Netherlands | |
Philips Real Estate Investment Management B.V. | Netherlands | |
Philips USA Export Holding B.V. | Netherlands | |
Philips Venture Capital Fund B.V. | Netherlands | |
Philips Warehouse & Services B.V. | Netherlands | |
SCIL-Nanoimprint B.V. | Netherlands | |
Spectranetics II B.V. | Netherlands | |
Spectranetics International B.V. | Netherlands | |
Van der Heem B.V. | Netherlands | |
VitalHealth Software B.V. | Netherlands | |
VitalHealth Software Holding B.V. | Netherlands | |
Philips New Zealand Commercial Limited | New Zealand | |
Philips Domestic Appliances Norway AS | Norway | |
Philips Norge AS | Norway | |
Philips Caribbean Panamá, Inc. | Panama | |
Philips SEM S.A. | Panama | |
Philips del Paraguay S.A. | Paraguay | |
Philips Peruana S.A. | Peru | |
Philips Domestic Appliances Support Philippines, Inc. | Philippines | |
Philips Philippines, Inc. | Philippines | |
RCM Manufacturing | Philippines | |
Philips Domestic Appliances Polska Sp. z o.o. | Poland | |
Philips Polska Sp.z.o.o. | Poland | |
Respiromix sp. z o.o. | Poland | |
Philips Portuguesa, S.A. | Portugal | |
Philips Medical Systems Puerto Rico, Inc. | Puerto Rico | |
Philips Domestic Appliances Romania S.R.L. | Romania | |
Philips Orastie S.r.l. | Romania | |
Philips Romania S.R.L. | Romania | |
Limited Liability Company "PHILIPS" | Russia | |
LLC Philips Innovation Labs RUS | Russia | |
Philips Domestic Appliances LLC | Russia | |
Philips Healthcare Saudi Arabia Limited (50%) | Saudi Arabia | |
Philips Solutions Saudi Arabia Trading LLC | Saudi Arabia | |
Philips doo Beograd | Serbia | |
Philips Domestic Appliances Singapore Pte. Ltd. | Singapore | |
Philips Electronics Singapore Pte Ltd | Singapore | |
Philips Slovenija trgovina, d.o.o. | Slovenia | |
Philips Africa (Proprietary) Limited | South Africa | |
Philips Domestic Appliances South Africa Commercial (Pty) Limited | South Africa | |
Philips South Africa Commercial (Proprietary) Ltd. (89%) | South Africa | |
Volcano Therapeutics South Africa Pty Ltd | South Africa | |
Agito Medical Spain SL. | Spain | |
Philips Domestic Appliances Spain S.L. | Spain | |
Philips Ibérica, S.A.U. | Spain | |
Philips Lanka Solutions (Private) Limited | Sri Lanka | |
Philips Aktiebolag | Sweden | |
Philips Digital Mammography Sweden AB | Sweden | |
Philips Domestic Appliances Sweden AB | Sweden | |
Imel AG | Switzerland | |
Philips AG | Switzerland | |
Philips Domestic Appliances Switzerland AG | Switzerland | |
Spectranetics Switzerland GmbH | Switzerland | |
Philips Domestic Appliances Taiwan Ltd. | Taiwan | |
Philips Taiwan Ltd. | Taiwan | |
Philips (Thailand) Ltd. | Thailand | |
Philips Domestic Appliances (Thailand) Ltd. | Thailand | |
Philips Ev Aletleri Ticaret A.S. | Turkey | |
Türk Philips Ticaret Anonim Sirketi | Turkey | |
Limited Liability Company "Philips Ukraine" | Ukraine | |
Philips Domestic Appliances Ukraine LLC | Ukraine | |
Avent Limited | United Kingdom | |
Forcare Ltd. | United Kingdom | |
Health & Parenting Ltd. | United Kingdom | |
Invivo UK Ltd. | United Kingdom | |
Philips Components Limited | United Kingdom | |
Philips Consumer Communications UK Limited | United Kingdom | |
Philips DCP (Belfast) Limited | United Kingdom | |
Philips Domestic Appliances UK Limited | United Kingdom | |
Philips Electronics UK Limited | United Kingdom | |
Philips Healthcare Informatics Limited | United Kingdom | |
Philips Titan Limited | United Kingdom | |
Philips Trustee Company Limited | United Kingdom | |
Philips U.K. Limited | United Kingdom | |
Pye (Electronic Products) Ltd. | United Kingdom | |
Pyecam Company Limited | United Kingdom | |
Remote Diagnostic Technologies Limited | United Kingdom | |
Respironics (UK) Limited | United Kingdom | |
Respironics Ltd. | United Kingdom | |
Respironics Respiratory Drug Delivery (UK) Ltd. | United Kingdom | |
Respironics UK Holding Company Limited | United Kingdom | |
370 West Trimble Road LLC | United States | |
AllParts Medical, LLC | United States | |
American Color & Chemical, L.L.C. | United States | |
AngioScore LLC | United States | |
ATL International LLC | United States | |
ATL Ultrasound, Inc. | United States | |
Blue Willow Sytems LLC | United States | |
CardioProlific, Inc. | United States | |
Cerebral Data Systems, Inc. (93%) | United States | |
Crux Biomedical LLC | United States | |
Discus Dental Canada, LLC | United States | |
Discus Dental, LLC | United States | |
Discus Holdings, LLC | United States | |
Discus International, LLC | United States | |
Electrical Geodesics, LLC | United States | |
GeoMedica, Inc. | United States | |
Intact Vascular, Inc. | United States | |
Invivo Corporation | United States | |
Lifeline Systems Company | United States | |
Lifeline Systems, Inc. | United States | |
Medumo, Inc. | United States | |
OBMedical Company | United States | |
Philips Domestic Appliances North America Corporation | United States | |
Philips Electronics Realty, LLC | United States | |
Philips Healthcare Informatics, Inc. | United States | |
Philips Holding USA Inc. | United States | |
Philips Image Guided Therapy Corporation | United States | |
Philips Medical Systems (Cleveland), Inc. | United States | |
Philips Medical Systems Export, Inc. | United States | |
Philips Medical Systems MR, Inc. | United States | |
Philips MPEG Inc. | United States | |
Philips North America LLC | United States | |
Philips Oral Healthcare, LLC | United States | |
Philips Project Management, LLC | United States | |
Philips RS North America Holding Corporation | United States | |
Philips RS North America LLC | United States | |
Philips Semiconductors Inc. | United States | |
Philips Ultrasound, Inc. | United States | |
Philips USA Export Corporation | United States | |
Remote Diagnostic Technologies LLC | United States | |
Respiratory Technologies, Inc. | United States | |
Respironics California, LLC | United States | |
Respironics Colorado, Inc. | United States | |
Respironics Logistics Services, LLC | United States | |
Respironics Novametrix, LLC | United States | |
Spectranetics LLC | United States | |
TOMTEC CORPORATION | United States | |
TR Management Company, LLC | United States | |
U.S. Philips Corporation | United States | |
VISICU, Inc. | United States | |
VitalHealth Software Corp. | United States | |
VitalHealth Software Group Inc. | United States | |
Volcano Atheromed, Inc. | United States | |
WellCentive, Inc. | United States | |
Philips Uruguay S.A. | Uruguay | |
Industrias Venezolanas Philips, S.A. | Venezuela | |
Philips Domestic Appliances Vietnam Company Limited | Vietnam | |
Philips Vietnam Limited | Vietnam |
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