"Our third quarter top line is distorted by the very strong adverse currency impact. 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. Our future oriented digital and IT products, on the other hand, evolved positively. Agfa Graphics' industrial inkjet business confirmed the crossing of the break-even line, resulting in a slightly positive year-to-date recurring EBIT. Our gross profit margin improved compared to last year's third quarter. Furthermore, the improvement of our operational cash flow and the reduced net debt show the success of our working capital efforts," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
"Agfa HealthCare's growth engines performed well, whereas Agfa Graphics' top line was affected by the uncertain and weak economic situation. The gross profit margin continued to improve year-on-year, driven by the effects of our efficiency programs. We expect to be able to further restore our net result by focusing on the continuous improvement of our gross profit margin," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
"In spite of the difficult economic environment, our 2012 performance is well in line with expectations.
Supported by positive currency effects, the Agfa-Gevaert Group's revenue increased by 6.5 percent compared to the third quarter of 2011. The Group's main growth engines - industrial inkjet in Agfa Graphics and IT in Agfa HealthCare - continued to contribute to the growth.
Strong performance of industrial inkjet and healthcare IT - Gross profit margin improvement despite the still negative raw material impact - Recurring EBIT at 32 million Euro - Net result at minus 5 million Euro
The Agfa-Gevaert Group's revenue remained almost stable compared to the first quarter of 2011.
The Agfa-Gevaert Group's revenue grew 2.5 percent compared to the previous year. Excluding currency effects, the increase amounted to 3.7 percent.
The enclosed information constitutes regulated information as defined in the Royal Decree of November 14, 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.
Excluding currency effects, the Agfa-Gevaert Group's revenue grew 1.1 percent compared to last year's third quarter. This growth was driven by Agfa Graphics' industrial inkjet; Agfa HealthCare's Computed Radiography and Direct Radiography; and Specialty Products' film for new applications. It was, however, partially counterbalanced by the decline in the traditional film businesses and by the effects of the weak economic climate.
Agfa-Gevaert today announced its second quarter 2011 results. In spite of the adverse exchange rate conditions and the uncertain economic climate in a number of its key markets, the Agfa-Gevaert Group posted a revenue growth of 3.7 percent. Excluding currency effects, the increase amounted to 6.2 percent. The increase was driven by the recent strategic steps, as well as by the growth in industrial inkjet, digital radiology and the new industrial materials.
In conformity with the Law of May 2, 2007 regarding the disclosure of important shareholdings in listed companies, Agfa-Gevaert (Euronext: AGFB) discloses the following declaration of the situation as per August 9, 2011: BlackRock Inc has disclosed that the total of its direct and indirect participation in Agfa-Gevaert has dropped below the lowest threshold of 3% and was 2.98% on August 9, 2011.
Agfa-Gevaert NV has closed a new five year multi-currency revolving credit facility of 445 million Euro. The new facility will run untilMay 31, 2016.
Agfa-Gevaert today announced its first quarter 2011 results. Partly driven by the recent strategic steps, the Agfa-Gevaert Group's revenue increased by 10.8 percent compared to the first quarter of 2010. All business groups contributed to the growth. The exchange rate conditions still had a beneficial impact of 2.0 percent on the Group's top line. The effects of the price increases for the film products are expected to gradually become more visible in the second half of the year.
Agfa-Gevaert today announced its full year results. The Agfa-Gevaert Group's revenue grew 7.0 percent compared to the previous year. About half of the increase was related to Agfa Graphics' joint venture in China and the Pitman acquisition. The exchange rate conditions had a beneficial impact of 3.8 percent on the Group's top line business performance.
Agfa-Gevaert today announced its third quarter 2010 results. Continuing the positive trend of the previous quarter, the Group's revenue grew 9.0 percent versus the third quarter of 2009. Both Agfa Graphics and Agfa HealthCare contributed to the growth. The current exchange rate conditions had a beneficial impact of 6.2 percent on the Group's top line business performance.
Agfa HealthCare announces significant worldwide price increases on all imaging film products. They are a logical consequence of the important price increases of raw materials over the past weeks.
Agfa-Gevaert today announced its second quarter results. Clearly outperforming the trend of the first months of the year, the Group's revenue grew 8.7 percent versus the second quarter of 2009 to 736 million Euro. The increase is largely attributable to Agfa Graphics, whereas Agfa HealthCare posted a slightly higher revenue. The current exchange rate conditions had a beneficial impact on the Group's top line business performance.