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Agfa Grows Q2 Profit, Lowers Debt

Wednesday, August 27, 2014

Press release from the issuing company

Mortsel (Belgium) - Agfa-Gevaert today announced its second quarter 2014 results.  

  • Group revenue impacted by the weakness in the emerging markets, adverse currency effects and the challenging conditions in the US healthcare market
  • Gross profit margin improved by 3 percentage points
  • Net profit grew to 28 million Euro
  • Net debt decreased to 176 million Euro  

"Our top line reflects the adverse currency effects and the continuously depressed economic conditions in certain parts of the world, including most emerging markets. In these tough circumstances, we continued to progress on our main goals. Continuing to work towards our target of delivering a double digit recurring EBITDA percentage, we further improved the gross profit margin. Furthermore, efficiency programs, targeted actions to limit the restructuring costs and positive raw material effects allowed us to post a strong net profit. Cash flow generation also continued to be strong, leading to a further decrease in net financial debt. These elements will remain our main focus points in the second half of the year. Meanwhile, we will also focus on controlling the top line evolution," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.

Full Release (PDF)

 

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