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 €110m (£91.8m). Adjusted EBITDA more than doubled, from €4.3m to €8.8m.
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”.
A three-year, self-funding restructuring plan aimed at saving €50m by the end of 2027 was presented to workers at its Belgian film plant earlier this week. Up to 530 jobs could go.
In Q3 Radiology Solutions posted sales down 10.6% at €92m, while adjusted EBITDA slumped by nearly 50%, to €3.7m.
Sales at Agfa’s Healthcare IT division slipped by 3.9% to €58m, and adjusted EBITDA fell by 25% to €6.3m.
Overall group sales in Q3, including €17m in sales to what is now ECO3, slipped by 1.2% to €277m. Group adjusted EBITDA was down 10.2% to €15m.
Agfa’s share price fell on the news, and descended to a 52-week low of €0.68 earlier today, before recovering to €0.70 (52-week high: €1.77, low: €0.68).
