· Group revenue impacted by the weak economic conditions and the decline of the classic film businesses
· Gross profit margin remained stable, while product portfolio rationalization contributed to the decrease of R&D costs
· Recurring EBIT improved to 36 million Euro
· Positive net result due to targeted actions
· Efforts to improve working capital contributed to strong operating cash flow
Mortsel (Belgium), August 28, 2013 - Agfa-Gevaert today announced its second quarter 2013 results.
"During the second quarter, we focused on the further improvement of our working capital. These efforts helped us to improve our operating cash flow and to reduce our net debt. Furthermore, we are on track to reach the gross profit targets we have set ourselves. Finally, I am also confident that Agfa Graphics' industrial inkjet business will reach the break-even point in the course of 2013," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
Agfa-Gevaert Group - second quarter 2013
| in million Euro | Q2 2012 | Q2 2013 | % change |
| Revenue | 779 | 732 | -6.0% |
| Gross profit (*) | 226 | 211 | -6.6% |
| % of revenue | 29.0% | 28.8% | |
| Recurring EBITDA (*) | 53 | 56 | 5.7% |
| % of revenue | 6.8% | 7.7% | |
| Recurring EBIT (*) | 32 | 36 | 12.5% |
| % of revenue | 4.1% | 4.9% | |
| Result from operating activities | 21 | 67 | 219.0% |
| Result for the period | 2 | 23 | |
| Net cash from (used in) operating activities | (13) | 51 |
(*) before restructuring and non-recurring items
