Agfa-Gevaert

full year 2015 results - Regulated information - March 10, 2016 - 7:45 a.m. CET - Seite 2

The Agfa-Gevaert Group's revenue grew by 1.0 percent to 2,646 million Euro. The top line growth was supported by the good performance of most of the growth engines (including the Agfa Graphics business group's inkjet business and the Agfa HealthCare business group's Direct Radiography and IT solutions), as well as by the improved exchange rate situation. Adverse elements were the continuous decline of the traditional film businesses, the economic weakness in several emerging markets and the unstable geopolitical situation.

Targeted efficiency programs more than counterbalanced the adverse raw material effects (which mainly impacted the Agfa Graphics business group). As a result, the Group improved its gross profit margin from 30.8 percent of revenue in 2014 to 31.9 percent.  

As a percentage of revenue, Selling and General Administration expenses remained almost stable at 19.7 percent.

R&D expenses amounted to 144 million Euro, or 5.4 percent of revenue.

Recurring EBITDA (the sum of Graphics, HealthCare, Specialty Products and the unallocated portion) reached 9.1 percent of revenue, versus 8.5 percent in 2014. Recurring EBIT improved by one percentage point to 6.8 percent of revenue.

The expense related to the restructuring and non-recurring items amounted to 19 million Euro, versus 16 million Euro in 2014.

The net finance costs amounted to 74 million Euro, versus 59 million Euro in 2014. A substantial part of this amount - about 20 million Euro - is due to a reclassification in the fourth quarter from translation reserve to profit or loss with regard to the closure of two production plants. This reclassification has no cash impact.

Income taxes resulted in an expense of 16 million Euro, versus an expense of 18 million Euro in the previous year.

As a result of the elements mentioned above, the Agfa-Gevaert Group posted a strong net profit of 71 million Euro.

Full 2015 press release

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Source: Agfa-Gevaert via Globenewswire

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