In the year to 31 December 2011 group sales encompassing Agfa's healthcare, graphics and specialty products divisions rose by 2.5% to €3bn (£2.5bn), but gross profit fell by 15.2% to €846m.

The group booked a €73m bottom line loss (2010: profit €105m) as it restructured its film business in the face of accelerating decline in demand.

Agfa's film offering includes X-ray and motion picture film, as well as graphic arts film.

"We have implemented timely measures to support profitability. These actions are aimed at reinforcing the focus on the growing segments of our business," said president and chief executive Christian Reinaudo.

Sales at the €1.6bn graphics business were up by 2%, driven by growth in its industrial inkjet products, but EBITDA halved to €87.6m.

Agfa blamed high raw material prices and price competition in digital plates for the drop.

In inkjet, it pointed to successes with its high-end M-Press Tiger and said it had now installed more than 1,000 entry-level Anapurna wide-format machines worldwide.