Selling and General Administration expenses remained stable as a % of sales, but were 6.6% above the level of the second quarter of 2021, mainly due to increased business activity impacting the selling expenses, as well as broader cost inflation and currency effects. Although price actions allowed the Group to partly mitigate this impact, its gross profit margin decreased to 29.2% of revenue. The Agfa-Gevaert Group was strongly impacted by cost inflation and supply chain issues in Q2 2022.
Continuing the evolution of the first months of the year, the growth was mainly driven by volume increases and pricing actions in the Digital Print & Chemicals division and pricing actions in the Offset Solutions division.
The Group’s top line increased by 6.4% versus the second quarter of 2021. (*) before restructuring and non-recurring items Since the beginning of the share buyback program until the completion on June 9th, 2022, the Agfa-Gevaert Group cancelled 12,930,662 own shares (7.71% of total shares).Īgfa-Gevaert Group – Q2 2022 in million Euro March 10, 2021, the Agfa-Gevaert Group announced a share buyback program with a volume of up to 50 million Euro. We experienced the full impact of cost inflation and supply chain issues on our profitability and working capital in the second quarter,” said Pascal Juéry, President and CEO of the Agfa-Gevaert Group. The Group’s top line growth was driven by volume growth in the Digital Print & Chemicals division and pricing actions in the Offset Solutions division. Operationally, the second quarter reflects the current inflationary environment as well as the impact of China lockdowns. These major steps in our transformation journey will enable us to increase our focus on our growth businesses, which is crucial to our future success in our markets.
Furthermore, the partnership with Atos for our internal IT activities and the actions to re-organize our internal financial services are expected to bring agility and simplification to Agfa’s operating model. Increased investments in R&D and commercial resources should enable the HealthCare IT division to generate profitable growth. Our inks are being certified to be used on the Onset printer range. We acquired and integrated Inca Digital Printers, a leading developer and manufacturer of advanced high speed printing and production technologies. We have launched engineering studies to prepare an investment in a new production facility for our Zirfon membranes for hydrogen production at our Mortsel site, which will allow us to meet the strong increase in demand. “In these turbulent economic and geopolitical times, we continue to focus on the future. Mortsel (Belgium), Aug– Agfa-Gevaert today commented on its results in the second quarter of 2022. Acquisition of Inca Digital Printers yields first integration results: Agfa’s inks being certified to be used on Onset print engines.Positive effect of 142 million Euro on net pension liability for the material countries versus year-end 2021.Seasonal increase in working capital, amplified by supply chain issues, cost inflation and inclusion of Inca Digital Printers acquisition.Adjusted EBITDA amounted to 32 million Euro.Gross profit decreased due to inflationary pressure and volume losses in medical film related to COVID lockdowns in China.Order book HealthCare IT at very healthy level – strong growth in order intake.Top line growth driven by Digital Print & Chemicals and Offset Solutions.Global Information Security & Privacy Policy.
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