Agfa reporting growth for the first time since 2015

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In Q2-2019, Agfa-Gevaert posted earnings of 576 million euros, a 3 percent rise compared to the same period last year. Offset Solutions, the company’s largest division, saw a decline in revenue (-2.6 percent) but this was more than compensated for by Digital Print & Chemicals (+9.2 percent), Radiology Solutions (+3.8 percent) and Healthcare IT (+7.2 percent). The group’s net profit amounted to 15 million euros, up from 6 million euros in Q2-2018. For the first half of this year, this has resulted in a revenue of 1.115 billion euros, a 2.6 percent drop compared to H1-2018.

Christian Reinaudo, president and CEO of the imaging specialist from Mortsel, is pleased with the quarterly results. “Based on our recent strategic steps and the success of all major growth engines, we were able to return to top line growth for the first time since 2015. Our hardcopy range clearly benefited from the reorganization of the Chinese distribution channels. The challenging conditions in the offset industry continued to weigh on the Offset Solutions division’s business, but we’re confident that the smooth implementation of the offset alliance with Lucky Huaguang Graphics will allow us to progressively improve our competitive position.”

The preparation for the sale of part of the activities of Agfa Healthcare is progressing according to plan. Reinaudo expects the sale process to be launched in the course of autumn.