· Group revenue impacted by strong currency effects, the product portfolio rationalization, the weak economic conditions and the decline of the analog businesses
· Gross profit margin continued to improve year-on-year
· Recurring EBIT at 26 million Euro
· Net result at minus 6 million Euro
· Working capital improvement contributed to strong operational cash flow and to net debt reduction
Mortsel (Belgium), November 13, 2013 - Agfa-Gevaert today announced its third quarter 2013 results.
"Our third quarter top line is distorted by the very strong adverse currency impact. In addition, analog film revenue was much lower than in the third quarter of last year, when the analog businesses performed exceptionally strong, recovering from a weak period in 2011 and in the first months of 2012. Our future oriented digital and IT products, on the other hand, evolved positively. Agfa Graphics' industrial inkjet business confirmed the crossing of the break-even line, resulting in a slightly positive year-to-date recurring EBIT. Our gross profit margin improved compared to last year's third quarter. Furthermore, the improvement of our operational cash flow and the reduced net debt show the success of our working capital efforts," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
Agfa-Gevaert Group - third quarter 2013
| in million Euro | Q3 2012 | Q3 2013 | % change |
| Revenue | 766 | 689 | -10.1% |
| Gross profit (*) | 209 | 192 | -8.1% |
| % of revenue | 27.3% | 27.9% | |
| Recurring EBITDA (*) | 50 | 46 | -8.0% |
| % of revenue | 6.5% | 6.7% | |
| Recurring EBIT (*) | 29 | 26 | -10.3% |
| % of revenue | 3.8% | 3.8% | |
| Result from operating activities | 27 | 17 | -37.0% |
| Result for the period | 2 | (6) | |
| Net cash from (used in) operating activities | 31 | 42 |
(*) before restructuring and non-recurring items
