Agfa-Gevaert NV (AFGVF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the AGFA full year 2025 results conference call. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answer session, participants are able to ask questions by dialing pound key five on their telephone keypad. I will now hand the conference over to Pascal Jouery, CEO. Please go ahead. Hello, everyone. I'm sitting in Mortsel right now with Fiona Lam, our CFO, Vivian Dictus, our investment relationship manager, and the rest of the executive committee. I'm going to walk you through the Q4 and full year results for the group. My first message is indeed we had a quite strong Q4. I would like to remind everyone that we do have a strong seasonality in our business and that every year Q4 is by far the strongest quarter. But I realize that in 25, actually, we almost beat all records, because Q4 EBITDA is 2 thirds of the EBITDA of the year. So it's even more pronounced, I would say, than the years before. Also, second very positive point, positive cash flow performance in the quarter and in the year. uh so i'm gonna move the slide a bit indeed a positive performance of cash flow due to three elements i would say one is of course the management of the operations because the reduction of working capital was a strong computer the second was also i would say our management of liquidity because we are actually winding down our vendor loans in AXA, so loans that we have extended to customers. And number three, we have resolved the AXA photo case and received actually the reward for strong cash flow. These results are also coming, and I need to be very clear about it, but they're coming from a very stringent cash and cost management that we have amplified and accelerated actually in Q4. And ...