Slide 1: Q3 2024 Results Agfa-Gevaert Group
Q3 2024 Results Agfa-Gevaert Group November 14, 2024
Slide 2: Q3 2024: stable sales, adjusted EBITDA at 15 million euro
Q3 2024: stable sales, adjusted EBITDA at 15 million euro Double-digit revenue growth and a strong profitability step up in Digital Printing and Chemicals, significant increase in order intake in HealthCare IT, with a high share of cloud-based and net new customer contracts, accelerated market decli
Slide 3: Q3 2024 sales and adjusted EBITDA
Q3 2024: stable sales, adjusted EBITDA at 15 million euro Q3 2024 sales = € 277 m Q3 2024 adj. EBITDA* = € 15 m Δ -1.2% Δ -10.8% Δ*-0.4% € 277 m € 280 m € 15 m € 17 m 58 60 6 8 110 99 9 4 HE IT 92 103 DPC HE IT 7 4 17 18 DPC Radiology Conops = 0 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Radiology Conops Conop
Slide 4: Agfa-Gevaert Group: Profit & Loss
Agfa-Gevaert Group: Profit & Loss in million Euro Q3 ’24 Q3 ’23 ∆% 9m’24 9m’23 ∆% Key figures (excl.curr.) (excl.curr.) Sales 277 280 -1.2% 813 837 -2.9% Profit & Loss (-0.4%) (-2.3%) Incl. IFRS 16 Gross Profit* 82 85 -4.5% 252 259 -2.5% as a % of sales 29.5% 30.5% 31.0% 30.9% Operational -77 -80 -2
Slide 5: Agfa-Gevaert Group: Profit & Loss
Agfa-Gevaert Group: Profit & Loss in million Euro Q3’24 Q3’23 9m’24 9m’23 Key figures Adjusted EBIT* 4 6 7 10 Profit & Loss Adjustments and restructuring -3 -5 -10 -25 Incl. IFRS 16 expenses Result from operating activities 1 1 -2 -15 Non-operating result -7 -7 -20 -19 Result before taxes -5 -6 -22
Slide 6: Group Working Capital: stable despite € 15 m impact of silver price and freight
Group Working Capital: stable despite € 15 m impact of silver price and freight 373 381 371 369 374 317 333 32 33 32 27 29 33 33 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 m€ 373 381 371 317 333 369 374 % of sales 32 33 32 27 29 33 33 Working Capital : the sum of Inventories plus trade
Slide 7: Free cashflow Q3 2024
Free cashflow Q3 2024 Free Cash Flow: The sum of ‘Net cash from / (used in) operating activities’ and ‘Net cash from / (used in) investing activities excluding the impact of ‘Acquisitions of subsidiaries, net of cash acquired’, ‘Interests received’ and the ‘Net cash from / (used in) operating and in
Slide 8: Net debt position
Net debt position Net debt position incl IFRS 16, in million Euro 118 98 99 72 47 33 33 24 6 Q3 '2 2 Q4 '2 2 Q1 '2 3 Q2 '2 3 Q3 '2 3 Q4 '2 3 Q1 '2 4 Q2 '2 4 Q3 '2 4 8
Slide 9: HealthCare IT
HealthCare IT 9
Slide 10: HealthCare IT: sales and adjusted EBITDA
HealthCare IT: sales and adjusted EBITDA Q3 2024 sales = € 58 m Q3 2024 adj. EBITDA* = € 6 m Δ -3.9% Δ -25.1% Δ*-3.4% 58 60 8 6 Q3 2024 Q3 2023 Q3 2024 Q3 2023 • Sales decline due to the market transition to cloud • Mainly due to product/mix effects, HealthCare IT’s technology gross profit margin en
Slide 11: HealthCare IT: Profit & Loss
HealthCare IT: Profit & Loss in million Euro Q3 ’24 Q3 ’23 ∆% 9m’24 9m’23 ∆% Key figures (excl.curr.) (excl.curr.) Sales 58 60 -3.9% 167 180 -7.1% Profit & Loss (-3.4%) (-6.9%) Incl. IFRS 16 Gross Profit* 27 29 -6.2% 77 80 -4.3% as a % of sales 47.0% 48.2% 45.9% 44.5% Operational -23 -22 1.8% -69 -7
Slide 12: HealthCare IT – Highlights
HealthCare IT – Highlights • Good traction in transitioning to cloud-enabled Enterprise Imaging • Order intake** 12 months rolling: • Q3: + 23% to € 154 m versus € 123 m the year before, mainly based on cloud-related contracts • FY: increase expected slightly above 20% • Order intake** Q3 2024: • Cl
Slide 13: Digital Print and Chemicals
Digital Print and Chemicals 13
Slide 14: Digital Print & Chemicals: sales and adjusted EBITDA
Digital Print & Chemicals: sales and adjusted EBITDA Q3 2024 sales = € 110 m Q3 2024 adj. EBITDA* = € 9 m Δ 11.0% Δ +106.2% 110 Δ*12.2%99 7 6 55 53 9 48 41 4 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Digital Print Specialty Film and Chemicals Green Hydrogen Solutions • Green Hydrogen Solutions: sales growth o
Slide 15: Digital Print & Chemicals: Profit & Loss
Digital Print & Chemicals: Profit & Loss in million Euro Q3 ’24 Q3 ’23 ∆% 9m’24 9m’23 ∆% Key figures (excl.curr.) (excl.curr.) Sales 110 99 11.0% 313 300 4.5% Profit & Loss (12.2%) (5.4%) Incl. IFRS 16 Gross Profit* 31 27 11.4% 93 83 12.6% as a % of sales 27.8% 27.7% 29.7% 27.6% Operational -26 -27
Slide 16: Digital Printing Solutions – Highlights
Digital Printing Solutions – Highlights • Sales increase of 19% versus Q3 2023 • Equipment: impact of new product launches and EFI partnership • Inks grow with 10% also driven by the ongoing ink swap program for Inca installed base • First water-based SpeedSet Orca 1060 packaging printer at customer
Slide 17: Green Hydrogen Solutions – Highlights
Green Hydrogen Solutions – Highlights “ ZIRFON is the only membrane making the ” production of green hydrogen affordable. • Sales increase of 15% versus Q3 2023 • Establishment of a new industrial-scale ZIRFON production plant in Mortsel, Belgium on track - in September, a new ZIRFON lab was taken i
Slide 18: Radiology Solutions
Radiology Solutions AGFA &
Slide 19: Radiology Solutions: sales and adjusted EBITDA
Radiology Solutions: sales and adjusted EBITDA Q3 2024 sales = € 92 m Q3 2024 adj. EBITDA* = € 4 m Δ -10.6% Δ*-10.2% 103 92 Δ -48.3% 39 39 7 4 53 64 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Medical Film CR/DR • Medical film: volumes followed the declining market trends - • Profitability negatively impacted b
Slide 20: Radiology Solutions: Profit & Loss
Radiology Solutions: Profit & Loss in million Euro Q3 ’24 Q3 ’23 ∆% 9m’24 9m’23 ∆% Key figures (excl.curr.) (excl.curr.) Sales 92 103 -10.6% 277 309 -10.1% Profit & Loss (-10.2%) (-9.5%) Incl. IFRS 16 Gross Profit* 25 30 -18.6% 79 97 -18.4% as a % of sales 26.8% 29.4% 28.5% 31.3% Operational -25 -28
Slide 21: Radiology Solutions – Highlights
Radiology Solutions – Highlights • Global acceleration of market decline for medical film - volumes followed accelerated decline of the market, 9% top line increase for DR, partly driven by the pick-up of the business in North America • Profitability negatively impacted by the volume decrease in med
Slide 22: Contractor Operations & Services - former Offset (CONOPS)
Contractor Operations & Services - former Offset (CONOPS) 22
Slide 23: CONOPS: sales and adjusted EBITDA
CONOPS: sales and adjusted EBITDA Q3 2024 sales = € 17 m Q3 2024 adj. EBITDA* = € 0 m Δ -4.6% Q3 2023 adj. EBITDA* = € 0 m Δ*-4.6% 18 17 Q3 2024 Q3 2023 * excluding currency effects * Adjusted EBITDA with the deduction of adjustments and restructuring expenses reconciles to EBITDA ▪ CONOPS represent
Slide 24: Outlook 2024: continuation of the trends seen in the previous year
Outlook 2024: continuation of the trends seen in the previous year In 2024, the Agfa-Gevaert Group expects a continuation of the trends seen in the previous year Outlook 2024 outlook per division: HealthCare IT: The division’s performance is expected to be roughly in line with that of last year. For
Slide 25: Sustainability at Agfa
Sustainability at Agfa 25
Slide 26: The Road to 2030 & Beyond: Sustainable and Profitable Growth
The Road to 2030 & Beyond Sustainable and Profitable Growth Focus on our Planet ▪ The reinvestment plan for energy assets in Belgium is being implemented → driver for reduction of combined scope 1 + 2 GHG absolute emissions set at 62% by 2030 from a 2006 base year for Belgian manufacturing sites con
Slide 27: Questions and answers
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Slide 28: Definitions of non-IFRS financial measures (APMs)
Definitions of non-IFRS financial measures (APMs) ▪ Adjusted EBIT: The result from continuing operating activities before restructuring expenses and adjustments. ▪ Adjusted EBITDA: The result from continuing operating activities before depreciation, amortization, restructuring expenses and adjustmen
Slide 29: Definitions of non-IFRS financial measures (APMs)
Definitions of non-IFRS financial measures (APMs) ▪ Order intake: The financial value of all new orders accepted by Agfa HealthCare IT during the period, including Licenses, Implementation services, Hardware and/or Cloud computing, but excluding Support/Software Maintenance Agreements. ▪ Support/Sof