·         Group revenue impacted by the weakness in the emerging markets, adverse currency effects and the challenging conditions in the US healthcare market ·         Gross profit margin improved by 3 percentage points ·         Net profit grew to 28 million Euro ·         Net debt decreased to 176 million Euro

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

Click here for the half year report:
http://hugin.info/133908/R/1850857/646584.pdf
Click here for the financial statements:
http://hugin.info/133908/R/1850857/646586.pdf
Click here to read the complete press release in pdf-format :
http://hugin.info/133908/R/1850857/646582.pdf



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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Agfa-Gevaert via Globenewswire

HUG#1850857