The group's latest results show that revenue fell 1.8% from €327m (£233.5m) in Q1 2014 to €321m in Q1 2015 but Agfa-Gevaert Group president and chief executive Christian Reinaudo said this would have been down by 10% if it was not for favourable currency markets.

Agfa reported a 4.9% increase in recurring EBITDA, from €20.4m to €21.4m, and a 9.5% increase in recurring EBIT, from €12.6m to €13.8m, since Q1 of 2014. 

Agfa Graphics’ gross profit margin was 29.3% of revenue, an improvement on Q1 of 2014, when it was 27.5%.

The analogue side of its business continues to “decline strongly” and the digital CTP business suffered from competitive pressure, Agfa said yesterday (12 May).

However it added “the inkjet segment reported strong top line growth".

During a conference call presentation Reinaudo said: “Graphics is rather sensitive to the GDP of the market in which we are operating and therefore unless we see the evidence of the recovery of the growth of which we hope, the numbers in terms of top line will be under pressure.”

However the company is continuing to invest in R&D and released two new inkjet machines in the first three months of this year.

The Jeti Tauro and Jeti Miro printers target the mid and higher-end segment of the sign and display market and will have their European debut at Fespa in Cologne, Germany next week (18 - 22 May).

Agfa has also launched the Acorta automatic cutting and finished plotter, Asanti 2.0 wide-format workflow software, new Duratex inkjet media and a range of UV-curable inks.

“The good news is coming from inkjet,” Reinaudo added.

“These two machines are the last babies of the initiative we took three years ago to rationalise our platform of products. These two machines have seen good acceptance by the market.”

Overall sales at Agfa-Gaveart globally remained flat at €622m in Q1 2015, compared to Q1 last year. Gross profit rose by 8.2% from €182m to €197m. Recurring EBITDA rose from €34m to €43m, a rise of 26.5% and recurring EBIT from €16m to €28m, a rise of 75%.

“This achievement proves that our efforts to keep our restructuring and operational cost under control are leading to a sustainable improvement of our profitability,” Reinaudo said.

Agfa Graphics is hosting a 'Lunch and Learn' event at Fespa on 18 May and marketing director, industrial printing, Tom Cloots will be one of a panel of experts at the Education Hub on 20 May discussing new market opportunities in industrial inkjet printing. The event is hosted by industry expert Sophie Matthews-Paul.