Good sales performance of all growth engines, margins impacted by cost inflation, adverse currency effects, manufacturing inefficiencies, lower service margins in HealthCare IT, mix effects and the weakness in industrial film markets
Key highlights Q2
2
HealthCare IT:
Increase in order intake of 11%, revenue increase of 8%
Quarter-on-quarterprofitability improvement but service margins under pressure due to cost inflation
Digital Print & Chemicals:
Good performance of the ZIRFON and Digital Print growth engines
Profitability improvements for ZIRFON and Digital Print offset by:
weakness in the electronics industry, especially in China
manufacturing inefficiencies for industrial film
Radiology Solutions:
Medical film: continuing margin pressure in China and geopolitical impact
Direct Radiography: continuing positive trend in profitability
Profitability impacted by adverse currency effects Adjusted EBITDA at 13 million Euro
Net result at minus 14 million Euro
Agfa-Gevaert Group
Sales by division
Radiology Solutions
HealthCare IT
Digital Print & Chemicals
Contractor Operations & Services*
* related to the former Offset Solutions business
6 M 2023 = 557 MILLION EURO
6%
36%
37%
21%
3
Key figures
Profit & Loss
Incl. IFRS 16
Before restructuring and non-recurring items
4
Agfa-Gevaert Group
in million Euro
Q2 '23
Q2 '22
∆%
6m'23
6m'22
∆%
re-presented
(excl.curr.)
re-presented
(excl.curr.)
Sales
287
287
-0.1%
557
539
3.3%
(2.3%)
(4.7%)
Gross Profit*
87
89
-2.8%
173
167
3.9%
as a % of sales
30.2%
31.1%
31.1%
30.9%
SG&A*
-73
-76
-3.4%
-147
-152
-3.5%
as a % of sales
25.5%
26.4%
26.3%
28.2%
R&D*
-19
-20
-5.0%
-39
-39
0.2%
Other operating
7
11
17
24
items*
Adj. EBITDA*
13
17
-21.5%
27
24
8.3%
as a % of sales
4.7%
6.0%
4.8%
4.5%
Adj. EBIT*
2
5
-58.0%
4
0
as a % of sales
0.7%
1.6%
0.7%
0.0%
Key figures
Profit & Loss
Incl. IFRS 16
Before restructuring and non-recurring items
5
Agfa-Gevaert Group
in million Euro
Q2'23
Q2'22
6m'23
6m'22
re-presented
re-presented
Adjusted EBIT*
2
5
4
0
Restructuring/non-recurring
-10
-12
-20
-20
Operating result
-8
-7
-16
-20
Non-operating result
-6
-11
-12
-9
Profit before taxes
-14
-18
-28
-28
Taxes
-4
-2
-9
-4
Result from continuing operations
-17
-20
-37
-32
Result from discontinued operations
3
7
-43
12
Result for the period
-14
-13
-81
-20
attributable to owners of the company
-14
-17
-82
-21
attributable to non-controlling interests
0
4
1
1
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Agfa Gevaert NV published this content on 23 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2023 08:53:06 UTC.
Agfa-Gevaert NV is one of the world leaders in the design, manufacturing, and marketing of imaging systems and products. Net sales break down by sector of activity as follows:
- Radiology solutions (36.9%). Agfa-Gevaert NV supplies radiology departments of hospitals all over the world with traditional X-ray film, hardcopy film and printers, digital radiography equipment and image processing software. Agfa's roots are in traditional medical imaging, but in today's healthcare market, digital radiography has become the dominant technology. All Agfa's digital radiography systems are offered with the company's leading MUSICA image processing software and its MUSICA workstation for image identification, acquisition and quality control;
- Digital Print & Chemicals (35.6%). Agfa-Gevaert NV supplies sign & display printing companies with a range of highly productive and versatile wide-format inkjet printers and dedicated inks, in addition to workflow software, cutting machines and inkjet media. Agfa produces classic film-based products, such as film for non-destructive testing and aerial photography, as well as microfilm and film for the production of printed circuit boards;
- HealthCare IT (21.6%). Agfa-Gevaert NV offers Imaging IT Solutions (The Enterprise Imaging platform creates a true imaging record for every patient, containing all possible images of the patient, regardless of the department and the facility that created them), Hospital IT Solutions (the leading Hospital Information System /Clinical Information System ORBIS, connects medical departments and administrative departments of hospitals into one virtual network), and Integrated Care Solutions (these solutions support collaboration across the borders of care organizations and medical disciplines and enable hospitals to actively engage with all stakeholders in the expanded care process, including physicians, informal care-givers and patients) ;
- Offset solutions (5.9%). Agfa-Gevaert NV is a leading supplier to the printing industry, offering innovative and reliable solutions. Commercial, newspaper and packaging printers around the globe rely on Agfa for the most extensive range of integrated solutions, from computer-to-plate systems with digital offset plates over color management and workflow optimization software to pressroom chemicals.
AGFA-GEVAERT NV 
