Brief: Agfa-Gevaert Q2 Adj. EBITDA up at Eur 40 Mln, Sees Business Volume Recovery In H2

Agfa Gevaert NV

25/08/2021 06:52

Aug 25 (Reuters) - AGFA Gevaert NV  AGFB.BR :
    * AGFA-GEVAERT IN Q2 2021: IMPROVED QUARTER ON QUARTER
PERFORMANCE
FOR ALL DIVISIONS DESPITE INCREASING INFLATIONARY PRESSURE
    * Q2 NET PROFIT 15 MILLION EUR
    * Q2 REVENUE EUR 441 MILLION VERSUS EUR 397 MILLION YEAR AGO
    * Q2 ADJUSTED EBITDA EUR 40 MILLION VERSUS EUR 31 MILLION
YEAR AGO
    * EXPECTS BUSINESS VOLUME GROWTH/RECOVERY IN SECOND HALF OF
2021
    * IN H2, GROUP'S ADJUSTED EBITDA IS EXPECTED TO BE MORE
HEAVILY
IMPACTED BY INFLATIONARY PRESSURE AND BY STRUCTURAL DECLINE IN
OFFSET SOLUTIONS DIVISION
    * OVERALL, RAW MATERIAL COSTS ARE EXPECTED TO HAVE A
STRONGER
IMPACT IN COMING QUARTERS
    * IN THE COMING MONTHS, PRICE MANAGEMENT WILL BE CONTINUED
AND
EVEN INTENSIFIED, AS WE EXPECT AN EVEN STRONGER IMPACT OF THE
HIKE IN RAW MATERIAL COSTS IN THE SECOND HALF OF THE YEAR -CEO
    * WE WILL ALSO CONTINUE OUR DISCIPLINED WORKING CAPITAL
MANAGEMENT
AND OUR BROAD COST REDUCTION PROGRAM-CEO
    * IN Q2, GROUP GENERATED A FREE CASH FLOW BEFORE EXTRA
FUNDING OF
PENSIONS OF MINUS 19 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 349
MILLION EURO AT END H1

Source text for Eikon:  ID:nGNE8zdMQ8 
Further company coverage:  AGFB.BR 

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