The Agfa-Gevaert Group in Q1 2025: adjusted EBITDA stable versus Q1 2024 – improved mix and good cost control compensated for film market decline

                                       Regulated informationMay 14, 2025 - 7:45 a.m. CET        The Agfa-Gevaert Group in Q1 2025: adjusted EBITDA stable versus Q1 2024 – improved mix and good cost control compensated for film market decline Group performance: continued success of the strategic transformationImproved sales mix between growth engines and mature businesses and good cost control compensated for the negative impact of the market decline for traditional film...

Mortsel, 14/05/2025 (informazione.news - comunicati stampa - scienza e tecnologia)

                                       
Regulated information
May 14, 2025 - 7:45 a.m. CET
        
The Agfa-Gevaert Group in Q1 2025: adjusted EBITDA stable versus Q1 2024 – improved mix and good cost control compensated for film market decline

Mortsel (Belgium), May 14, 2025 – 7:45 a.m. CET – Agfa-Gevaert today commented on its results in the first quarter of 2025.

"The first quarter of 2025 was marked by the continued strong performance of our HealthCare IT division, driven by customer adoption of our leading cloud technology. While our Digital Printing Solutions equipment business faced challenges due to economic uncertainty, and the market for our ZIRFON membranes for green hydrogen production slowed down in Europe and North America, the long-term outlook for these businesses remains promising. We are actively addressing the decline in traditional film markets through our cost optimization program, with initial savings expected in the second half of 2025."
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

First quarter

Financial position and cash flow

Outlook
The Agfa-Gevaert Group expects that the growth engines will continue to perform strongly in 2025. As usual, due to seasonality reasons, a slower start of the year is expected, followed by a stronger second half. This outlook is based on the current economic environment.

2025 outlook per division:

A part of the outstanding receivable in connection with the sale of the Offset Solutions division to Aurelius Group is still under discussion. The issue has been submitted to an independent expert, who will have to establish the final purchase price.

HealthCare IT

(*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to 'Results from operating activities'(EBIT)/EBITDA

First quarter

Digital Print & Chemicals

(*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to 'Results from operating activities'(EBIT)/EBITDA

First 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

First 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 analyst and investors
Pascal Juéry, CEO of the Agfa-Gevaert Group, and Fiona Lam, CFO, will present the Q1 2025 results to analysts and investors at 11:00 a.m. CET on Wednesday, May 14. 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 March 2024 / March 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

Attachment