Belgium · Delayed Price · Currency is EUR Agfa-Gevaert NV Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw robust top-line growth in film and digital printing, strong EBITDA gains from cost savings, and a successful SaaS transition in HealthCare IT. ZIRFON faces a tough 2026, but a rebound is expected in 2027, while overall group outlook remains unchanged.
Fiscal Year 2025
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Q4 delivered record EBITDA and strong cash flow, offsetting a challenging year marked by Radiology decline and currency headwinds. HealthCare IT cloud transition accelerated, DPS faced setbacks, and restructuring costs will pressure 2026 cash flow, but profitability is expected to improve.
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Q3 saw a sharp decline in medical film and a rapid shift to cloud in HealthCare IT, impacting short-term results but driving strong order intake. Cost-cutting and restructuring are being accelerated, with positive cash flow and improved net results year-over-year.
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H1 2025 saw strong HealthCare IT growth and improved cash flow, but rapid decline in the medical film market and subdued digital printing and green hydrogen segments weighed on EBITDA. A EUR38 million Agfa Photo gain boosted net results, and further restructuring is underway.
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Q1 2025 saw stable results with strong growth in healthcare IT offsetting declines in film and radiology, especially in China. The outlook for healthcare IT is upgraded, while DPC and ZIRFON face subdued growth due to market delays. Cost-saving measures and innovation support future performance.
Fiscal Year 2024
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Record growth in HealthCare IT, Digital Printing, and ZIRFON offset declines in radiology and film, with transformation initiatives underway. Strong order intake and recurring revenue drive optimism for 2025, though revenue recognition shifts to subscription models will delay some growth. Net debt remains low and CapEx will decrease in 2025.
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DPC delivered strong double-digit growth, while Healthcare IT saw record cloud-related order intake but faces short-term revenue delays due to rapid cloud transition. Radiology remains under pressure from accelerated film market decline, prompting a major transformation program.
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Q2 saw strong order intake and margin improvement in Healthcare IT, robust DPC and ZIRFON growth, and a €50 million productivity program to address radiology film weakness. Cash outflow was higher due to working capital and CapEx, but normalization is expected by year-end.