Agfa-gevaert: Inflation offset by price increases


(CercleFinance.com) – Agfa-Gevaert announced on Tuesday that the full effect of inflationary pressures would be felt in its second quarter results, before an improvement expected during the second half thanks to its price increases.

The manufacturer of imaging systems for the printing and healthcare sectors this morning published adjusted operating profit (EBITDA) up 22% to 19 million euros for the first quarter.

Its turnover increased by 7.2% to 424 million euros, including growth of 3.5% excluding currency effects, thanks to the growth of its digital and offset printing activities.

Its recurring profit margin remained stable at 29%, the increase in the price of raw materials having been offset by price increases charged to customers.

The group, once known for its photography business, says it intends to continue streamlining operations and pursuing cost reductions starting next year.

On Euronext Brussels, the Agfa title nibbled 0.2% on Tuesday around 2:15 p.m., while the BEL 20 index gained around 0.5%.

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