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Belgium's Agfa-Gevaert Q3 revenue flat, adjusted EBITDA drops on volume declines

By Reuters News


Overview

  • Belgium imaging and IT firm's Q3 revenue was flat yr/yr at 210 mln eur

  • Adjusted EBITDA for Q3 dropped sharply to 1 mln eur from 4 mln eur last year

  • Company plans to combine Digital Printing Solutions business with EFI in a new joint venture


Outlook

  • Company expects HealthCare IT order intake to grow by high single-digit percentage in 2026

  • Imaging and Advanced Materials segment expects revenue and profitability to decline in 2026

  • Company expects 2026 free cash flow to be more negative than 2025


Result Drivers

  • VOLUME DECLINES - Co said volume decreases for film products, Direct Radiography and Green Hydrogen Solutions weighed on results

  • COST SAVINGS - Co said savings programs helped align cost base with market conditions

  • HEALTHCARE IT GROWTH - Co said accelerated transition to cloud-based solutions drove double-digit revenue growth in HealthCare IT


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

EUR 210 mln

EUR 261 mln (1 Analyst)

Q3 Net Result

-EUR 24 mln

Q3 Adjusted EBITDA

EUR 1 mln

Q3 Adjusted EBIT

-EUR 4 mln

Q3 Gross Profit

EUR 49 mln


Analyst Coverage

  • The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

  • Wall Street's median 12-month price target for AGFA Gevaert NV is €0.60, about 51.1% above its November 9 closing price of €0.40

  • The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago


Reuters Recommended Reads

  • Nov 9 - Quanterix Q3 revenue rises 6.3% sequentially

  • Nov 9 - Germany's GEA Group Q3 revenue rises, maintains 2026 forecast

  • Nov 9 - CervoMed Q3 net loss narrows as R&D costs drop after completion of RewinD-LB trial


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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