Scienza e Tecnologia
The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year outlook maintained - regulated information
Regulated information – May 14, 2024 - 7:45 a.m. CET
The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year outlook maintained
Mortsel (Belgium), May 14, 2024 – Agfa-Gevaert today commented on its results in the first quarter of 2024.
“As indicated before, the first quarter was very soft. In the field of Digital Printing Solutions, we went through a transition as we renewed our mid-range offering at the end of March. The impact of the product launches and the agreement we signed with EFI is expected to kick in later on in the year. Following a very strong fourth quarter of 2023, HealthCare IT experienced a seasonal slow start to the year, while order intake shows positive momentum. The Radiology Solutions division's quarter was abnormally weak, as we started to reorganize our go-to-market processes in China in line with the new reality in that market. One-off quality issues for medical film in our Mortsel plant also had an impact on our costs. We are taking action to reorganize our medical film production process. Our activities in the field of Green Hydrogen Solutions are developing according to plan, as we again booked significant sales growth in the first quarter. I am also happy to announce that, on top of the EU funding, we recently obtained lease financing to help fund the construction of the new plant for our ZIRFON membranes. Overall, we were able to keep our working capital well under control and restructuring costs were at a low level,” said Pascal Juéry, President and CEO of the Agfa-Gevaert Group.
(*) before restructuring and non-recurring items
Agfa-Gevaert Group
(*) before restructuring and non-recurring items
First quarter
Financial position and cash flow
Outlook
In 2024, the Agfa-Gevaert Group expects a continuation of the trends seen in the previous year, with continued growth for the growth engines and further profitability improvements. The slow start to the year is expected to be followed by a much stronger second half, supported by the impact of the delivery of projects.
2024 outlook per division:
HealthCare IT
(*) before restructuring and non-recurring items
First quarter
Digital Print & Chemicals
(*) before restructuring and non-recurring items
First quarter
Digital Printing Solutions
Green Hydrogen Solutions
Division performance
Radiology Solutions
(*) before restructuring and non-recurring items
First quarter
Contractor Operations and Services – former Offset
(*) before restructuring and non-recurring items
End of message
Management Certification of Financial Statements and Quarterly Report
This statement is made in order to comply with new European transparency regulation enforced by the Belgian Royal Decree of November 14, 2007 and in effect as of 2008.
"The Board of Directors and the Executive Committee of Agfa-Gevaert NV, represented by Mr. Frank Aranzana, Chairman of the Board of Directors, Mr. Pascal Juéry, President and CEO, and Mr. Dirk De Man, CFO, jointly certify that, to the best of their knowledge, the consolidated financial statements included in the report and based on the relevant accounting standards, fairly present in all material respects the financial condition and results of Agfa-Gevaert NV, including its consolidated subsidiaries. Based on our knowledge, the report includes all information that is required to be included in such document and does not omit to state all necessary material facts.”
Statement of risk
This statement is made in order to comply with new European transparency regulation enforced by the Belgian Royal Decree of November 14, 2007 and in effect as of 2008.
"As with any company, Agfa is continually confronted with – but not exclusively – a number of market and competition risks or more specific risks related to the cost of raw materials, product liability, environmental matters, proprietary technology or litigation."
Key risk management data is provided in the annual report available on www.agfa.com.
Contact:
Viviane Dictus
Director Corporate Communication
Septestraat 27
2640 Mortsel - Belgium
T +32 (0) 3 444 71 24
E viviane.dictus@agfa.com
The full press release and financial information is also available on the company's website: www.agfa.com.
Consolidated Statement of Profit or Loss (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Comprehensive Income for the quarter ending March 2023 / March 2024 (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Financial Position (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Cash Flows (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
The Group has elected to present a statement of cash flows that includes all cash flows, including both continuing and discontinuing operations.
Consolidated Statement of changes in Equity (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
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