Scienza e Tecnologia
The Agfa-Gevaert Group in Q2 2025: strong HealthCare IT performance, stable Digital Print & Chemicals performance – further decline in medical film
Regulated information
August 27, 2025 - 7:45 a.m. CET
The Agfa-Gevaert Group in Q2 2025: strong HealthCare IT performance, stable Digital Print & Chemicals performance – further decline in medical film
Mortsel (Belgium), August 27, 2025 – 7:45 a.m. CET – Agfa-Gevaert today commented on its results in the second quarter of 2025.
"Our HealthCare IT division delivered a strong performance in the second quarter, driven by the successful execution of our cloud-based strategy. This approach is clearly yielding results, reflected in solid top-line growth and significant improvements in profitability. In contrast, the growth engines of our Digital Print & Chemicals division encountered headwinds due to ongoing economic uncertainty, which led to slower market conditions. Additionally, the continued sharp decline in medical film markets had a notable impact on both our top and bottom line.
Furthermore, I’m pleased to report the resolution of a long-standing AgfaPhoto legal chapter. After more than two decades of disputes, a final arbitration award in our favor has had a substantial positive effect on our net result in the second quarter.
We also strengthened our financial foundation by securing a new revolving credit facility with a consortium of four financial institutions – an endorsement of the confidence our financial partners place in our company." Pascal Juéry, President and CEO of the Agfa-Gevaert Group.
(*) Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’ (EBIT)/EBITDA
Definitions of non-IFRS financial measures (APMs): see page 8 .
The consolidated statements are included at the end of this press release. They are an integral part of this document.
Agfa-Gevaert Group
(*) before adjustments and restructuring expenses
(**) Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA
Second quarter
Financial position and cash flow
Outlook
This outlook is based on the current economic environment.
2025 outlook per division:
For the full year 2025, a positive net cash flow is expected, primarily driven by expected inflows from discontinued operations and legal settlements. A key contributor is the remaining outstanding receivable of 25 million euro from the sale of the Offset Solutions business to Aurelius. The amount of 25 million euro consists of 6 million euro which is undisputed and 19 million euro which is disputed and pending on the conclusion of the independent expert’s review since September 2024. The timing and the amount of the payment receipt remain uncertain. Additionally, the Group has received 45 million euro in July 2025, following a favorable award in the AgfaPhoto case. For more information see note 2.4 on ‘cash flow and liquidity outlook’ in the half year report.
HealthCare IT
(*) Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA
Second quarter
Digital Print & Chemicals
(*) Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA
Second quarter
Division performance
Digital Printing Solutions
Green Hydrogen Solutions
Radiology Solutions
(*) Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA
Second quarter
Contractor Operations and Services – former Offset
(*) Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA
Conference call for analysts and investors
Pascal Juéry, CEO of the Agfa-Gevaert Group, and Fiona Lam, CFO, will present the Q2 2025 results to analysts and investors at 11:00 a.m. CET on Wednesday, August 27. This presentation can be accessed live upon registration via the agfa.com website and will be available on the website after the event.
End of message
Definitions of non-IFRS financial measures (APMs)
Contact:
Viviane Dictus
Director Corporate Communication
Septestraat 27
2640 Mortsel - Belgium
T +32 (0) 3 444 71 24
E viviane.dictus@agfa.com
The full press release and financial information is also available on the company's website: www.agfa.com.
Consolidated Statement of Profit or Loss (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Comprehensive Income for the quarter ending June 2024 / June 2025 (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Comprehensive Income for the period ending June 2024 / June 2025 (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Financial Position (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Net Debt (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Consolidated Statement of Cash Flows (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
The Group has elected to present a statement of cash flows that includes all cash flows, including both continuing and discontinuing operations.
Consolidated Statement of changes in Equity (in million euro)
Unaudited, consolidated figures following IFRS accounting policies.
Reconciliation of non-IFRS information (in million euro)
(Adjusted) Free Cash Flow
Reconciliation of non-IFRS information (in million euro)
Adjusted EBIT
Working capital
Reconciliation of non-IFRS information (in million euro)
Net Financial Debt including IFRS 16
Net Financial Debt excluding IFRS 16
Evolution net financial debt excluding lease liabilities – linked with cashflow (in million euro)
Attachments
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti