"Although 2015 was characterized by the further economic slowdown in several growth markets, we succeeded in stopping the top line erosion. The revenue growth was supported by the weaker Euro, as well as by the good performance of our growth engines, including Agfa Graphics' inkjet business and Agfa HealthCare's Direct Radiography and IT solutions. Furthermore, we also delivered on the other main targets we set ourselves. Mainly due to the improvement of our gross profit margin, we managed to bring our recurring EBITDA percentage closer to 10 percent of revenue. We will build on this achievement to reach the 10 percent target we have set ourselves for 2016. Our operational improvements and the success of our efficiency programs contributed to the improvement of our profitability. As a result of all this, we delivered a positive net result for the third year in a row. Together with the strict management of working capital, the net profit led to a positive cash flow generation and a strong decrease in our net financial debt. This set of results strengthens my belief that we are now set to achieve profitable growth in the years to come," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
J.P. Morgan Asset Management Holdings Inc.
"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. Pursuing this trend, we should be able to grow our full year revenue to 3 billion Euro in the medium term. Continuing the evolution of the previous quarters, our gross profit margin and recurring EBITDA margin improved versus last year. We reiterate our target of delivering a recurring EBITDA percentage close to 10 percent of revenue in 2015. Furthermore, I am very pleased with our solid net profit, which reflects our operational improvements, as well as the success of our restructuring efforts," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
"I am very pleased to see that the positive signs we saw in the first three months of the year were confirmed in the second quarter. This strengthens our belief that we are on the right track to reach the targets we expressed when we published our full year 2014 results. Based on the strong performances of our main growth engines and helped by the weaker Euro, we were able to post significant revenue growth. I trust that in the medium term a revenue of 3 billion Euro is achievable. Largely due to our successful efficiency programs, we were able to bring our gross profit margin above 33 percent of revenue for the first time in five years. It is also clear that we are well on our way to achieving a recurring EBITDA percentage close to 10 percent of revenue in 2015," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
"Our first quarter results show that we are on track to achieve the targets we recently expressed. Together with the weaker Euro, the good performance of our growth engines allowed us to stop the downward top line trend. This strengthens our belief that - supported by cautiously targeted acquisitions - we will succeed in growing our revenue to 3 billion Euro in the medium term. Our gross profit margin and our recurring EBITDA improved significantly compared to last year's first quarter. We are confident that we will be able to deliver a recurring EBITDA percentage close to 10 percent of revenue in 2015. I am also pleased to be able to report a positive net result for the sixth quarter in a row. This achievement proves that our efforts to keep our restructuring and operational costs under control are leading to a sustainable improvement of our profitability. The strong cash flow generation resulted in a further decrease of our net debt," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
"In 2014, our activities continued to be challenged by the global economic situation and the unstable political situation in certain regions. I am proud to say that we have been able to improve the efficiency of our operations in spite of these tough conditions. I see four major achievements. First of all, we have generated a strong net operating cash flow. This allowed us to reduce the net financial debt to a very decent level. Furthermore, our dedicated efficiency programs and positive raw material effects resulted in a significant improvement of our gross margin. Thirdly, we have been able to keep the restructuring costs and the operational costs under control. All that allowed us to book a positive net result for the second year in a row. And last but not least, I would like to mention the success of our efforts to refinance the company.
In 2015, one of our key targets is to stop the erosion of the top line. We will therefore further strengthen our focus on our organic growth initiatives. I am confident that our efforts in this field will start to bear fruit. Our financial debt situation also allows us to look into external growth opportunities, should they occur. Our second main target for 2015 is to deliver a recurring EBITDA percentage close to 10 percent of revenue," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.