Inflation-bitten Agfa Gaevert inches up as price increases shield Q3 margins

Agfa Gevaert NV

09/11/2021 09:32

** Shares in Belgian imaging and IT Agfa Gevaert  AGFB.BR 
pare earlier gains, now up 1.8%, as price increases helped it
shield its margins from raw material cost inflation
    ** Agfa's Q3 revenue and adjusted EBITDA rose y/y, while
gross margin remained almost stable at 26.8%  urn:newsml:reuters.com:*:nASN001UZF
    ** "Agfa managed to offset the increased inflationary
pressures relatively well as group gross margin remained
relatively flat" - KBC Securities
    ** KBC securities adds the company "navigated well" through
a "difficult" Q3, with its price increase strategy driving an
uptick in sales
    ** Less optimistic, ING questions the "limited quality" of
the results due to the underperformance of Healthcare unit and
"grim" outlook"
    ** Agfa expects inflationary pressure and supply chain
issues to still have an impact in first quarters of next year,
while its Q4 EBITDA is seen declining y/y



 (Reporting by Olivier Sorgho in Gdansk)
 ((olivier.sorgho@tr.com))