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Regulated information – May 10, 2022 – 7:45 a.m. CET
The Agfa-Gevaert Group’s EBITDA increases by 22% year–on–year in an extraordinary inflationary context
- Continued top line growth driven by strong performances of Offset Solutions and Digital Print & Chemicals
- Resilient gross profit margin due to successful price actions and strict cost management
- Adjusted EBITDA increase of 22% – despite extended inflationary pressure and supply chain issues
- Continued progress in transformation programs
- Free cash flow impacted by seasonally increased working capital, amplified by supply chain disruptions and cost inflation
Mortsel (Belgium), May 10, 2022 – Agfa-Gevaert today commented on its results in the first quarter of 2022.
“We are living in a time of extraordinary inflation, geopolitical uncertainties and in particular the Russia-Ukraine conflict, unseen volatility in our supply chains and continuing COVID effects, particularly in China. All input costs from raw materials, energy, packaging, transportation and salaries continue to increase materially and supply chain disruptions are strongly impacting our activities. In this complex inflationary context, we are able to maintain margins through pricing and cost management actions. Driven by the strong performance of the Offset Solutions division, we significantly improved our recurring EBITDA, which shows that our pricing strategy and strict cost management are paying off. Furthermore, we again took major steps in our transformation program in recent months. The measures we have taken recently with regard to our internal IT services and our internal financial services are examples of how we are simplifying our operating model. Only a few weeks ago, we announced our plans to acquire Inca Digital Printers. This investment will strengthen our position in the high-speed wide format market as a whole and specifically in the promising packaging segment. Digital printing is a profitable growth…
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