Agfa-Gevaert
full year 2015 results - Regulated information - March 10, 2016 - 7:45 a.m. CET
Agfa-Gevaert publishes its full year 2015 results
· Top line growth largely due to the success of the growth engines and the weaker Euro
· Gross profit margin improved to 31.9 percent of revenue
· Positive net result for third consecutive year
· Low level of net financial debt due to positive cash flow generation
Mortsel (Belgium), March 10, 2016 - Agfa-Gevaert today announced its full year 2015 results.
"Although 2015 was characterized by the further economic slowdown in several growth markets, we succeeded in stopping the top line erosion. The revenue growth was supported by the weaker Euro, as well as by the good performance of our growth engines, including Agfa Graphics' inkjet business and Agfa HealthCare's Direct Radiography and IT solutions. Furthermore, we also delivered on the other main targets we set ourselves. Mainly due to the improvement of our gross profit margin, we managed to bring our recurring EBITDA percentage closer to 10 percent of revenue. We will build on this achievement to reach the 10 percent target we have set ourselves for 2016. Our operational improvements and the success of our efficiency programs contributed to the improvement of our profitability. As a result of all this, we delivered a positive net result for the third year in a row. Together with the strict management of working capital, the net profit led to a positive cash flow generation and a strong decrease in our net financial debt. This set of results strengthens my belief that we are now set to achieve profitable growth in the years to come," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.
Agfa-Gevaert Group - full year 2015
in million Euro | 2014 | 2015 | % change |
Revenue | 2,620 | 2,646 | 1.0% |
Gross profit (*) | 807 | 843 | 4.5% |
% of revenue | 30.8% | 31.9% | |
Recurring EBITDA (*) | 222 | 240 | 8.1% |
% of revenue | 8.5% | 9.1% | |
Recurring EBIT (*) | 152 | 180 | 18.4% |
% of revenue | 5.8% | 6.8% | |
Result from operating activities | 136 | 161 | 18.4% |
Result for the period | 59 | 71 | 20.3% |
Net cash from (used in) operating activities | 151 | 149 | -1.3% |
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(*) before restructuring and non-recurring items