Agfa-Gevaert: market hails 'solid' results

(CercleFinance.com) - Agfa-Gevaert's share price rose on the Brussels stock exchange on Wednesday, buoyed by the publication of its Q2 results, which the specialist in equipment for printers and medical devices described as "solid".


At around 12:15 pm, the share gained over 1%, while the BEL 20 index advanced by around 0.2% at the same time.

This morning, Agfa-Gevaert reported stable quarterly sales of E286m for April-June, flat against E287m a year earlier.

Organic growth, adjusted for exchange rates, was negative at 0.1%.

Adjusted EBITDA came to E22m, up 67% from E13m recorded at the same time last year.

The Belgian group, which manufactures printing systems for industry, says it benefited in particular from a rebound in its HealthCare IT business, which booked record orders in the quarter.

For 2024, Agfa-Gevaert expects a continuation of the trends seen since last year, with further growth and improved profitability in its growth drivers, led by healthcare.

The company warns, however, that the weakness of its X-ray systems business is likely to continue, due to rising silver prices.


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