Agfa has published its results for second quarter of this financial year, which essentially show that the company is becoming more efficient in generating profit margin even though revenue fell by 11.1 percent with a corresponding 1.9 percent drop in gross profit over the second quarter of last year.
Agfa has attributed this fall variously to weakness in the emerging markets, adverse currency effects and the challenging conditions in the US healthcare market.
However, its worth noting that Agfa has reduced its net debt to €176 million, while increasing gross profit margin by three percent. The net profit also grew from €23m to €28m.
Christian Reinaudo, President and CEO of the Agfa-Gevaert Group says that the company is continuing to work towards its target of delivering a double-digit recurring EBITDA percentage, and will continue with its restructuring and cost cutting programs.