Agfa profits dip

Agfa has published its Q3 figures for 2013, which show a drop in revenues of 10.1 percent, with a corresponding drop in profits of 8.1 percent, though there was a slight improvement in gross profit margin.
Agfa has blamed this on exchange rates and the generally weak economic conditions as well as further rationalisation of its product portfolio. Christian Reinaudo, President and CEO of the Agfa-Gevaert Group, explained: “In addition, analog film revenue was much lower than in the third quarter of last year, when the analog businesses performed exceptionally strong, recovering from a weak period in 2011 and in the first months of 2012.”
However, there was good news from Agfa’s industrial inkjet division, which crossed the break-even point. But the computer to film business has declines, though computer to plate volumes have remained stable. The graphics division saw a drop in revenue of 12.5 percent this quarter, against the same period of last year.
Overall, the Group posted a net loss of €6 million, versus a restated (according to IAS 19R) net result of €2 million in the third quarter of 2012.

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