Agfa-Gevaert Group’s revenue was stable in the second quarter of 2023, with the top line of the company’s sign & display business continuing to grow – “based on the good performance of the ink product ranges for sign & display applications, as well as the Inca Digital Printers acquisition.” The group posted a Q2 net loss of 14 million euro.
The Oralite Traffic Sign system with Agfa's Anapurna LED-UV printer
'Tough conditions': Pascal Juéry, CEO Agfa-Gevaert “Whereas the macroeconomic and geopolitical conditions remained tough for several of our traditional activities, we booked significant revenue growth for our growth engines in HealthCare IT and Digital Print,” said Pascal Juéry, president and CEO of the Agfa-Gevaert Group.
“In terms of new business creation, we are on track with the development of the SpeedSet 1060 single-pass packaging printer. When introduced to the market in 2024, it will be the fastest printer in its category. Furthermore, as more and more large green hydrogen projects are being implemented, sales for our industry-leading ZIRFON membranes are growing exponentially.
“Meanwhile, we are making good progress with our project to build a new industrial unit for ZIRFON membranes at our Mortsel site in Belgium. I am very pleased that this project has been selected for a EU Innovation Fund Grant. The new plant will allow us to meet future customer demand and to be a key player in the clean energy transition.”
Agfa’s adjusted EBITDA decreased from 17 million Euro to 13 million Euro (4.7% of revenue). The Agfa-Gevaert Group posted a net loss of 14 million Euro, with “profitability impacted by adverse currency effects," Agfa said.
"Price increase actions are implemented in most segments to mitigate cost inflation impacts. However, manufacturing inefficiencies, adverse currency effects and the weakness in the electronics industry negatively impacted the gross profit margin, which decreased from 26.2% of revenue in Q2 2022 to 24.1%.
Digital Print & Chemicals business
Second quarter
“In the field of digital print, the top line of the sign & display business continued to grow, based on the good performance of the ink product ranges for sign & display applications, as well as the Inca Digital Printers acquisition.
“Agfa already sold several Onset printers using Agfa inks and the development of the SpeedSet 1060 single-pass packaging printer is proceeding as planned. The market introduction of this digital press with water based inks – which will be the fastest printer in its category at 11,000 B1 sized carton boards per hour – will happen as planned in 2024, with a customer unveiling later this year.
“In Q2, Agfa also announced the launch of new ink sets for its Onset inkjet printers. These inks boast an excellent sustainability footprint, high quality and performance while minimizing ink usage.
“In the field of industrial inkjet, Agfa sold a second InterioJet water-based inkjet printing press to décor paper printing company Chiyoda, in spite of the weak investment climate in that sector."
