Agfa publishes Q3 figures

Agfa has released its figures for the third quarter of this year, which are broadly positive. Revenue is up, albeit only 3.9 percent from €636m for the same period last year to €661m for this quarter. More importantly, net profit is up some 266 percent from €9m to €33m.

Christian Reinaudo, President and CEO of the Agfa-Gevaert Group believes that the group is on course for full year revenues of €3bn, noting: “Our third quarter results are in line with our expectations. As stopping top line erosion was one of our major focus points for this year, I am satisfied to report a continuous revenue increase.”

However, much of this growth was down to currency effects. The most successful areas continue to be the inkjet business in the Graphics division and the Direct Radiography and IT solutions from the Healthcare division. The Graphics division saw a modest rise in revenue from €328m to €338m, despite the softness in the emerging markets and the political instability in certain regions. This was mainly down to growth in the inkjet side, with increasing volumes in the CtP business, but with the analog computer to film business still declining, as one would expect. However, Agfa Graphics’ gross profit margin decreased from 28.4 percent of revenue in the third quarter of 2014 to 27.5 percent, as the business group’s efficiency projects were not able to fully offset the substantial adverse raw material and competitive pressure effects.

The Healthcare division appears to be doing better, with revenues rising from €259m for this period last year to €276m this year, largely due to currency effects.

In addition, Agfa has also disclosed that J.P. Morgan Asset Management Holdings Inc holds a stake of 5,162,070 shares or 3.00% of the company, via its fully owned subsidiary J.P. Morgan Asset Management (UK) Limited.


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