Agfa-Gevaert: stock down as inflation continues to weigh

(CercleFinance.com) - On Wednesday Belgian imaging technology specialist Agfa-Gevaert said that it expects its results to continue to suffer from inflationary pressures, a statement that caused its share price to fall on the Brussels stock exchange.


Agfa shares are currently down about 7%, underperforming a pretty flat BEL 20 index (+0.3% at the same time).

The Mortsel-based industrial group, which produces equipment for the graphic industry and the healthcare sector, reported Q2 adjusted EBITDA that is down 20% to 32 million euros.

However, Q3 sales rose 6% to 469 million euros, including a 2% increase at constant exchange rates.

Agfa, formerly known for its photo films and VHS tapes, said it expects inflationary pressures, logistical problems and economic and geopolitical uncertainty to continue to affect its results in the coming quarters.

However, the group expects the trend to improve in H2, thanks to price increases.


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