Mortsel (Belgium), August 27, 2014 - Agfa-Gevaert today announced its second quarter 2014 results.
"Our top line reflects the adverse currency effects and the continuously depressed economic conditions in certain parts of the world, including most emerging markets. In these tough circumstances, we continued to progress on our main goals. Continuing to work towards our target of delivering a double digit recurring EBITDA percentage, we further improved the gross profit margin. Furthermore, efficiency programs, targeted actions to limit the restructuring costs and positive raw material effects allowed us to post a strong net profit. Cash flow generation also continued to be strong, leading to a further decrease in net financial debt. These elements will remain our main focus points in the second half of the year. Meanwhile, we will also focus on controlling the top line evolution," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
Agfa-Gevaert Group - second quarter 2014
in million Euro | Q2 2013 | Q2 2014 | % change |
Revenue | 732 | 651 | -11.1% |
Gross profit (*) | 211 | 207 | -1.9% |
% of revenue | 28.8% | 31.8% | |
Recurring EBITDA (*) | 56 | 63 | 12.5% |
% of revenue | 7.7% | 9.7% | |
Recurring EBIT (*) | 36 | 46 | 27.8% |
% of revenue | 4.9% | 7.1% | |
Result from operating activities | 67 | 44 | |
Result for the period | 23 | 28 | |
Net cash from (used in) operating activities | 51 | 32 |
(*) before restructuring and non-recurring items
http://hugin.info/133908/R/1850857/646584.pdf
Click here for the financial statements:
http://hugin.info/133908/R/1850857/646586.pdf
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http://hugin.info/133908/R/1850857/646582.pdf
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Source: Agfa-Gevaert via Globenewswire