·         Top line drop stopped - Good performance of the growth engines

·         Significant improvement in gross profit margin and recurring EBIT

·         Strong cash flow generation resulted in historically low net financial debt

Mortsel (Belgium), May 12, 2015 - Agfa-Gevaert today announced its first quarter 2015 results.  

"Our first quarter results show that we are on track to achieve the targets we recently expressed. Together with the weaker Euro, the good performance of our growth engines allowed us to stop the downward top line trend. This strengthens our belief that - supported by cautiously targeted acquisitions - we will succeed in growing our revenue to 3 billion Euro in the medium term. Our gross profit margin and our recurring EBITDA improved significantly compared to last year's first quarter. We are confident that we will be able to deliver a recurring EBITDA percentage close to 10 percent of revenue in 2015. I am also pleased to be able to report a positive net result for the sixth quarter in a row. This achievement proves that our efforts to keep our restructuring and operational costs under control are leading to a sustainable improvement of our profitability. The strong cash flow generation resulted in a further decrease of our net debt," said Christian Reinaudo, President and CEO of the Agfa-Gevaert Group.

Agfa-Gevaert Group - first quarter 2015

(*) before restructuring and non-recurring items