Group Performance - Agfa-Gevaert delivered a strong fourth quarter in 2025, with notable profitability in HealthCare IT and Digital Print & Chemicals divisions, supported by effective cost-saving measures [2][5] - The Group's revenue for Q4 2025 was €306 million, a decrease of 5.9% compared to Q4 2024, while the full-year revenue was €1,086 million, down 4.5% from 2024 [4][8] - Adjusted EBITDA for Q4 2025 increased by 27.9% to €39 million, while the full-year adjusted EBITDA decreased to €59 million from €70 million in 2024 [5][8] HealthCare IT - HealthCare IT revenue for Q4 2025 was €64 million, down 15.0% from Q4 2024, with full-year revenue at €232 million, a decline of 4.1% [4][12] - The division successfully transitioned to a cloud-based subscription model, with FY 2025 order intake increasing by 14% to €187 million and cloud order intake rising by 38% [5][17] - Gross profit margin improved from 48.8% in 2024 to 49.5% in 2025, with adjusted EBITDA margin increasing from 13.6% to 14.5% [17] Digital Print & Chemicals - Digital Print & Chemicals revenue grew by 6.5% in FY 2025 to €467 million, driven by Specialty Films & Chemicals and strong performance in Green Hydrogen Solutions [5][18] - Q4 2025 revenue for this division was €136 million, an increase of 8.5% compared to Q4 2024, with adjusted EBITDA rising by 125.6% to €21 million [4][15] - The division's gross profit margin improved to 30.9% in Q4 2025, up from 27.2% in Q4 2024, reflecting effective cost control and improved manufacturing efficiency [18] Radiology Solutions - Radiology Solutions faced a significant revenue decline of 17.1% in FY 2025, with Q4 revenue at €89 million, down 15.3% from Q4 2024 [4][21] - Adjusted EBITDA for this division was €4.5 million in Q4 2025, a decrease of 24.4%, and the full-year adjusted EBITDA was negative at €9.1 million [21] - The decline was attributed to ongoing challenges in the medical film market, particularly in China, prompting accelerated cost optimization efforts [27] Financial Position and Cash Flow - The Group achieved a positive free cash flow of €35 million in FY 2025, benefiting from a €36 million improvement in working capital and a €38 million cash inflow from the AgfaPhoto arbitration ruling [5][10] - Net financial debt decreased from €37 million in Q4 2024 to €21 million in Q4 2025, while net pension debt also reduced from €405 million to €343 million [10][12] - The Group's liquidity headroom covenant was €157.9 million at the end of 2025, indicating a strong financial position despite ongoing restructuring costs [10][12] Outlook - For FY 2026, Agfa expects a negative free cash flow due to substantial cash outflows related to transformation and restructuring plans [11] - The new organizational structure, effective January 1, 2026, will focus on three business segments: HealthCare IT, Industrial Solutions, and Imaging and Chemicals [6][11] - Continued growth in HealthCare IT is anticipated, while profitability in Industrial Solutions may be impacted by market delays [11][12]

Group Performance - The Agfa-Gevaert Group reported a revenue of €281 million in Q2 2025, a decrease of 1.6% compared to €286 million in Q2 2024. For H1 2025, revenue was €523 million, down 2.4% from €536 million in H1 2024 [7][30] - The Group's gross profit decreased to €85 million in Q2 2025, down 10.9% from €96 million in Q2 2024, resulting in a gross profit margin of 30.4% [7][30] - Adjusted EBITDA fell to €13 million in Q2 2025, a decline of 41.2% from €22 million in Q2 2024, with a margin of 4.7% [7][30] HealthCare IT Division - The HealthCare IT division achieved a revenue of €61 million in Q2 2025, reflecting a growth of 4.8% from €58 million in Q2 2024. For H1 2025, revenue increased by 8.2% to €118 million [11][14] - Adjusted EBITDA for HealthCare IT rose significantly by 57.3% to €8.9 million in Q2 2025, compared to €5.6 million in Q2 2024, with a margin of 14.6% [11][20] - The division's strong performance was attributed to the successful transition to cloud-based solutions, particularly in North America, with a stable order intake of €151 million over the past 12 months [14][20] Digital Print & Chemicals Division - The Digital Print & Chemicals division reported a revenue increase of 6.1% to €118 million in Q2 2025, driven mainly by Specialty Films & Chemicals [15][21] - Adjusted EBITDA decreased to €10 million, down 14.0% from €11.6 million in Q2 2024, with a margin of 8.4% [15][21] - The division faced challenges due to unfavorable market conditions affecting profitability, despite maintaining a stable order book [21] Radiology Solutions Division - The Radiology Solutions division experienced a significant revenue decline of 18.4% to €80 million in Q2 2025, heavily impacted by the ongoing decline in the medical film market, particularly in China [18][26] - Adjusted EBITDA for this division was negative at -€4.9 million, compared to a positive €7.1 million in Q2 2024, indicating severe profitability challenges [18][26] - The company is implementing a cost optimization plan for traditional film activities, with expected savings to begin in the second half of 2025 [26] Financial Position and Outlook - The company secured a new revolving credit facility of €180 million, enhancing its financial stability [4][8] - The net profit for Q2 2025 was reported at €30 million, significantly influenced by a favorable arbitration award related to AgfaPhoto [8][30] - The outlook for 2025 anticipates a positive net cash flow, primarily driven by inflows from discontinued operations and legal settlements [10][30]