Agfa shares slide as cost inflation hits profitability

Agfa Gevaert NV

24/08/2022 08:44

** Shares in Agfa Gevaert  AGFB.BR  fall around 7% after the
Belgian graphics group reports quarterly loss, as cost inflation
and supply chain issues weigh on profitability  urn:newsml:reuters.com:*:nASM000OHQ
    ** ING cites "lack of quality" in the Q2 results despite
coming in line with expectations, pointing to a "collapse in
profitability for the group's supposedly more stable Healthcare
activities"
    ** Agfa's Q2 net result turns to loss of 13 million euros
($12.9 million), while results from operating activities shrink
to 2 million from 28 million euros last year 
    ** "We experienced the full impact of cost inflation and
supply chain issues on our profitability and working capital in
the second quarter," CEO Pascal Juéry says
    ** The group sees a continuing impact of cost inflation,
supply chain issues and the uncertain geopolitical and economic
situation in the coming quarters
    ** Shares are on track for their worst day since May 2021

($1 = 1.0051 euros)

 (Reporting by Augustin Turpin)
 ((augustin.turpin@thomsonreuters.com))