Brief: Agfa Gevaert Q1 Revenue Up At EUR 424 Million

Agfa Gevaert NV

10/05/2022 06:56

May 10 (Reuters) - AGFA Gevaert NV  AGFB.BR :
    * THE AGFA-GEVAERT GROUP’S EBITDA INCREASES BY 22%
YEAR-ON-YEAR IN
AN EXTRAORDINARY INFLATIONARY CONTEXT
    * FREE CASH FLOW IMPACTED BY SEASONALLY INCREASED WORKING
CAPITAL,
AMPLIFIED BY SUPPLY CHAIN DISRUPTIONS AND COST INFLATION
    * EXPECTS FULL IMPACT OF COST INFLATION IN Q2, WHICH WILL
ALSO BE
AFFECTED BY UNCERTAIN GEOPOLITICAL SITUATION AND COVID-RELATED
LOCKDOWNS IN CHINA
    * Q1 RESILIENT GROSS PROFIT MARGIN DUE TO SUCCESSFUL PRICE
ACTIONS
AND STRICT COST MANAGEMENT
    * ADDITIONAL PRICE ACTIONS ARE BEING TAKEN TO TACKLE COST
INFLATION
    * ASSUMING THAT UNCERTAINTY IN MOST MARKETS WILL NOT
DETERIORATE,
SECOND HALF OF YEAR IS EXPECTED TO BE BETTER THANKS TO
ADDITIONAL PRICING ACTIONS COMING INTO EFFECT
    * CONTINUES TO FOCUS ON WORKING CAPITAL IMPROVEMENTS AND
COST
MANAGEMENT
    * ONGOING TRANSFORMATION ACTIONS ARE EXPECTED TO BRING MORE
AGILITY AND TO FURTHER SIMPLIFY OPERATIONS OF GROUP
    * Q1 NET LOSS OF 7 MILLION EURO
    * THEY WILL ALSO ALLOW GROUP TO FURTHER REDUCE ITS COSTS
FROM 2023
ONWARDS
    * Q1 REVENUE EUR 424 MILLION VERSUS EUR 396 MILLION YEAR AGO
    * NET FINANCIAL DEBT (INCLUDING IFRS 16) EVOLVED FROM A NET
CASH
POSITION OF 325 MILLION EURO AT END OF 2021 TO A NET CASH
POSITION OF 262 MILLION EURO
    * Q1 ADJUSTED EBITDA EUR  19 MILLION VERSUS EUR 15 MILLION
YEAR
AGO
    * GROSS PROFIT EUR 123 MILLION VERSUS EUR 117 MILLION YEAR
AGO

Source text for Eikon:  ID:nGNE3Sywls 
Further company coverage:  AGFB.BR 

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