Digital printing is bright spot in Agfa's Q3
Agfa has reported a further improvement in the performance of its digital printing and inks business in Q3, but a major restructure of its radiology film wing is likely to result in significant job losses.
22 Nov 2024 | By PrintWeek Team
Digital Print & Chemicals became the Belgium-headquartered manufacturer’s largest division in its most recent financial year.
In the three months to 30 September Agfa said that within that division, its Digital Printing Solutions operation grew sales by 19% compared with the prior year, with new products and the partnership with EFI contributing to the increase.
Ink sales were up 10% on the back of the ongoing push to convert Inca customers to Agfa’s own inks.
The world’s first SpeedSet Orca 1060 B1 sheetfed inkjet press is now up and running at Delta Group, while an unnamed printer has installed the first Jeti Bronco H3300 wide-format inkjet device.
Sales at Digital Print & Chemicals, which includes green hydrogen solutions, were up 11% year-on-year at Euro 110-m. Adjusted EBITDA more than doubled, from Euro 4.3-m.
Agfa said it expected to build “further positive momentum” in digital print in the coming quarters.
The outstanding payment of around €30m in connection with the sale of the Offset Solutions division (now ECO3) to Aurelius Group back in April 2023 “is still partly under discussion”.
“The issue has been submitted to an independent expert, who will have to establish the final purchase price,” Agfa stated.
The accelerated decline in demand in the global market for medical film has resulted in plans to “adjust the cost base of its traditional film activities to the reality in the market”.
Source: Printweek.com
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