AGFA Gevaert NV (AFGVF) Q3 2023 Earnings Call Transcript

AGFA Gevaert NV (OTCPK:AFGVF) Q3 2023 Earnings Conference Call November 15, 2023 5:00 AM ET

Company Participants

Pascal Juery – President, CEO, President, Radiology Solutions & Director

Dirk De Man – CFO

Vincent Wille – President, Digital Print & Chemicals

Conference Call Participants

Laura Roba – Degroof Petercam

Maxime Stranart – ING Groep


Hello, and welcome to the Agfa Q3 2023 Results. My name is George, and I’ll be coordinator for today’s event. Please note this conference is being recorded. [Operator Instructions]

I’d like to hand the call over to your host today, Mr. Pascal Juery, CEO, to begin today’s conference. Please go ahead, sir.

Pascal Juery

Thank you very much, and good morning, everyone. Thanks for being with us for the announcement of the Q3 2023 results of Agfa. I’m sitting here in Mortsel with my colleagues of the Executive Committee; our CFO, Dirk De Man, who will take part of the presentation; and also Viviane Dictus, in charge of Investor Relations.

So Q3 results in a nutshell, first, it’s absolutely in line with our plan and guidance. Second, this is a positive cash flow quarter after the cash outflow of the first half, which, by the way, was more than half due to the Offset divestment. Third, we have EBITDA growth from our growth engine, which is higher than the challenges we are seeing in the film and legacy businesses of the company.

And four, currency has a huge impact on our activities since we are a group mainly producing in Europe and exporting in Asia and having also a significant part of our business in North America. So it’s weighing of the group top line and more importantly, on the bottom line.

So all in all, results in line, positive cash flow, EBITDA growth in the right areas and

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