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The Agfa-Gevaert Group in Q2 2024: solid quarter, powered by growth engines - regulated information - inside information
Regulated information – Inside information
August 28, 2024 - 7:45 a.m. CET
The Agfa-Gevaert Group in Q2 2024: solid quarter, powered by growth engines
Mortsel (Belgium), August 28, 2024 – 7:45 a.m. CET – Agfa-Gevaert today commented on its results in the second quarter of 2024.
“The growth engines of the Digital Print & Chemicals division recorded healthy top line growth. In HealthCare IT, we recorded the highest ever order intake volume, based on our cloud offering and net new customer gains. Furthermore, we saw significant quarter-on-quarter profitability improvement across all business areas. As part of our strategy to optimally manage mature markets for cash, we recently launched a transformation program to improve the competitiveness of our film-related operations. The program aims to structurally reduce the cost base of the film business by 50 million euro by the end of 2027,” said Pascal Juéry, President and CEO of the Agfa-Gevaert Group.
(*) before restructuring expenses and non-recurring results
Definitions of non-IFRS financial measures (APMs): see page 7-8.
Agfa-Gevaert Group
(*) before restructuring expenses and non-recurring results
Second 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 and further profitability improvements for the growth engines. The weakness in Radiology Solutions is expected to continue in the second half of the year, further impacted by higher silver prices.
2024 outlook per division:
The working capital situation is expected to return back to normal by the end of 2024.
The outstanding receivable in connection with the sale of the Offset Solutions division to Aurelius Group is still partly under discussion. The issue has been submitted to an independent expert, who will have to establish the final purchase price. The conclusion is expected at the earliest in September 2024, the final cash payment is expected in the fourth quarter of 2024.
HealthCare IT
(*) before restructuring expenses and non-recurring results
Second quarter
Digital Print & Chemicals
(*) before restructuring expenses and non-recurring results
Second quarter
Digital Printing Solutions
Green Hydrogen Solutions
Division performance
Radiology Solutions
(*) before restructuring expenses and non-recurring results
Second quarter
Contractor Operations and Services – former Offset
(*) before restructuring expenses and non-recurring results
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 and Mr. Pascal Juéry, President and CEO, 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 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.
Definitions of non-IFRS financial measures (APMs)
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 June 2023 / June 2024 (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Comprehensive Income for the period ending June 2023 / June 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.
Reconciliation of non-IFRS information (in million euro)
(Adjusted) Free Cash Flow
Reconciliation of non-IFRS information (in million euro)
Adjusted EBIT
Attachments
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