Mortsel / Belgium, February 6, 2013 - 7.45 a.m. CET
Later today (February 6, 2013 - 10.00 a.m. CET) Kris Hoornaert, CFO of the Agfa-Gevaert Group, will host a conference call to update the markets on the effects of the changes in financial reporting on Employee Benefits - IAS19R. The company will clarify the amendments on this subject that were provided in the 2011 Annual Report.
The slides of the presentation will be published on the company's website (www.agfa.com) prior to the call. The transcript of the call will be published after the call.
As a result of the changes in the IAS19 standard, the Agfa-Gevaert Group will adapt its accounting presentation as from January 2013. On the profit and loss statement, pension costs will decrease, mainly due to the removal of the amortization of actuarial gains and losses related to post-employment benefits. On the balance sheet statement, deferred actuarial gains and losses related to post-employment benefits will be immediately recognized in equity.
The changes will have no impact on the Group's pension cash outflows, business flows and current bank covenants.
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About Agfa
The Agfa-Gevaert Group develops, manufactures and distributes an extensive range of analogue and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications.
Agfa's headquarters and parent company are located in Mortsel, Belgium. The Group's operational activities are divided in three independent business groups, Agfa Graphics, Agfa HealthCare and Agfa Specialty Products.
All business groups have strong market positions, well-defined strategies and full responsibilities, authority and accountability.
Agfa-Gevaert has production facilities around the world, with the largest production and research centers in Belgium, the United States, Canada, Germany, France, Italy and China.
Agfa is commercially active worldwide through wholly owned sales organizations in more than 40 countries. In countries where Agfa does not have its own sales organization, the market is served by a network of agents and representatives.
The Agfa-Gevaert Group achieved a turnover of 3,023 million Euro in 2011.
Agfa-Gevaert Press contacts:
Viviane Dictus
Director Corporate Communication
T +32 3 444 7124
E viviane.dictus@agfa.com
Johan Jacobs
Corporate Press Relations Manager
T +32 3 444 8015
E johan.jacobs@agfa.com
