Royal Philips deepened ties with its biggest shareholder, Italy’s Agnelli family, in a deal allowing the Fiat-founding clan to raise its stake in the Dutch medical technology company to as high as 22%. This agreement marks a significant strengthening of the relationship between Philips and the Agnelli family.

Royal Philips NV raised its profitability expectations for 2026 after a US tariff refund bolstered earnings in the second quarter.

Royal Philips NV’s operating profitability came in better than expected in the second quarter, as demand for its medical scanners outweighed the impact of tariffs.