Brief: Agfa-Gevaert Q1 Adjusted EBITDA Down At 15 Million Euros

Agfa Gevaert NV

11/05/2021 06:56

May 11 (Reuters) - AGFA GEVAERT NV  AGFB.BR :
    * IN Q1 2021: ONGOING VOLUME RECOVERY, GOOD PERFORMANCE BY
HEALTHCARE IT AND DIGITAL PRINT & CHEMICALS - REGULATED
INFORMATION
    * Q1 REVENUE EUR 396 MILLION VERSUS EUR 435 MILLION YEAR AGO
    * Q1 ADJUSTED EBITDA EUR 15 MILLION VERSUS EUR 24 MILLION
YEAR AGO
    * GROUP EXPECTS BUSINESS VOLUME RECOVERY TO CONTINUE IN
COURSE OF
YEAR
    * Q1 : AGFA-GEVAERT GROUP POSTED A NET LOSS OF 6 MILLION
EURO
    * PERFORMANCE IMPROVEMENT OF HEALTHCARE IT AND DIGITAL PRINT
&
CHEMICALS DIVISIONS IS EXPECTED TO BE CONFIRMED
    * WE EXPECT THE BUSINESS MOMENTUM TO CONTINUE IN THE SECOND
QUARTER - CEO
    * GROUP EXPECTS THAT CONTINUATION OF ITS PRICE INCREASE
PROGRAMS
WILL BE NEEDED TO MITIGATE EFFECTS OF ONGOING COST INFLATION
    * IN THE FIRST QUARTER OF 2021, AGFA-GEVAERT NV HAS CLOSED A
NEW
THREE YEAR MULTICURRENCY REVOLVING CREDIT FACILITY OF 230
MILLION EURO
    * NET FINANCIAL DEBT EVOLVED FROM A NET CASH POSITION OF 502
MILLION EURO AT END OF 2020 TO A NET CASH POSITION OF 500
MILLION EURO
    * IN THE COMING QUARTERS, VOLUMES AND MARGINS IN THE
RADIOLOGY
SOLUTIONS DIVISION WILL RECOVER SUBSTANTIALLY COMPARED TO THE
EXCEPTIONALLY WEAK FIRST QUARTER
    * IN Q1 GROUP GENERATED A POSITIVE FREE CASH FLOW BEFORE
EXTRA
FUNDING OF PENSIONS OF 16 MILLION EURO

Source text for Eikon:  ID:nGNE9GxygJ 
Further company coverage:  AGFB.BR 

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