Brief: Agfa-Gevaert Q3 Adjusted EBITDA Down To 16 Million Euros

Agfa Gevaert NV

13/11/2020 06:50

Nov 13 (Reuters) - AGFA GEVAERT NV  AGFB.BR :
    * AGFA-GEVAERT Q3 2020 RESULTS: FULL COVID-19 IMPACT ON
OFFSET
PRINTING BUSINESS – CONFIRMED STRONG PROFITABILITY IN IMAGING IT
    * EXECUTION OF PENSION DE-RISKING MEASURES ON TRACK
    * Q3 REVENUE EUR 410 MILLION VERSUS EUR 488 MILLION YEAR AGO
    * ADJUSTED EBITDA DECREASED FROM 33 MILLION EURO (6.8% OF
REVENUE)
IN Q3 OF 2019 TO 16 MILLION EURO (3.9% OF REVENUE)
    * GRADUAL RECOVERY OF ACTIVITIES DURING Q3
    * Q3 NET LOSS EUR 25 MILLION VERSUS LOSS OF EUR 4 MILLION
YEAR AGO
    * IN MEDIUM TERM, MOST ACTIVITIES OF GROUP WILL FULLY
RECOVER FROM
DISRUPTION CAUSED BY COVID-19 AND EVEN BENEFIT FROM POST-COVID
OPPORTUNITIES AND MARKET DEVELOPMENTS
    * OFFSET PRINTING DEMAND IS NOT EXPECTED TO FULLY RECOVER
GOING
FORWARD
    * NET FINANCIAL DEBT EVOLVED FROM 219 MILLION EURO AT END OF
2019
TO A NET CASH POSITION OF 532 MILLION EURO AT END-Q3

Source text for Eikon:  ID:nGNE1CFbgB 
Further company coverage:  AGFB.BR 

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