Agfa-Gevaert: net loss after divesting printing division

(CercleFinance.com) - On Tuesday Agfa-Gevaert reported a Q1 net loss of E66m after integrating the impact of the divestment of its professional printing division ("offset").


The Belgian industrial group, which completed the transaction last month, otherwise said it was "satisfied" with its performance in Q1, especially with its main growth drivers in digital printing and chemicals.

Agfa, formerly known for its photography and VHS activities, again highlighted the potential of its Zirfon membrane technology for the production of green hydrogen, a business that has already exceeded its 2022 revenues in Q1.

In all, quarterly sales rose by 7.2% to E270m, with adjusted Ebitda almost doubling to E13m.

The group reiterated its aim to ensure a turnaround in profitability in 2023 relatie to 2022, although this forecast was snubbed by the Brussels stock exchange, with the share down over 3% at noon.


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