Brief: Agfa Gevaert Q2 Net Result Turns To Loss At Eur 13 Mln

Agfa Gevaert NV

24/08/2022 06:59

Aug 24 (Reuters) - AGFA Gevaert NV  AGFB.BR :
    * Q2 REVENUE EUR 469 MILLION VERSUS EUR 441 MILLION YEAR AGO
    * Q2 LOSS FOR THE PERIOD EUR 13 MILLION VERSUS PROFIT EUR 15
MILLION YEAR AGO
    * Q2 RESULTS FROM OPERATING ACTIVITIES EUR 2 MILLION VERSUS
EUR 28
MILLION YEAR AGO
    * Q2 ADJUSTED EBITDA AMOUNTED TO 32 MILLION EURO
    * Q2 GROSS PROFIT DECREASED DUE TO INFLATIONARY PRESSURE AND
VOLUME LOSSES IN MEDICAL FILM RELATED TO COVID LOCKDOWNS IN
CHINA
    * END-H1 FREE CASH FLOW OF MINUS 59 MILLION EURO
    * OUTLOOK: EXPECTS A CONTINUING IMPACT OF COST INFLATION,
SUPPLY
CHAIN ISSUES AND THE UNCERTAIN GEOPOLITICAL AND ECONOMIC
SITUATION IN THE COMING QUARTERS
    * WAS STRONGLY IMPACTED BY COST INFLATION AND SUPPLY CHAIN
ISSUES
IN Q2 2022
    * OUTLOOK: POTENTIAL COVID-RELATED LOCKDOWNS IN CHINA AND
OTHER
COVID-RELATED EFFECTS MIGHT ALSO HAVE AN IMPACT
    * ACQUISITION OF INCA DIGITAL PRINTERS YIELDS FIRST
INTEGRATION
RESULTS: AGFA'S INKS BEING CERTIFIED TO BE USED ON ONSET PRINT
ENGINES
    * OUTLOOK: ADDITIONAL PRICE ACTIONS ARE BEING TAKEN TO
TACKLE COST
INFLATION
    * OUTLOOK: ASSUMING THAT THE UNCERTAINTY IN MOST MARKETS
WILL NOT
DETERIORATE, THE SECOND HALF OF THE YEAR IS EXPECTED TO BE
BETTER THANKS TO ADDITIONAL PRICING ACTIONS COMING INTO EFFECT
    * OUTLOOK: THE ONGOING TRANSFORMATION ACTIONS ARE WELL ON
TRACK
AND ARE EXPECTED TO ALLOW THE GROUP TO FURTHER REDUCE ITS COSTS
FROM 2023 ONWARDS

Source text for Eikon:  ID:nDJR1hMMTw 
Further company coverage:  AGFB.BR 

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