Agfa-Gevaert today commented on its results in the third quarter of 2020.
“Considering these uncertain times, our Imaging IT growth engine continued to perform well, with significant improvement in profitability. The Digital Print & Chemicals division was able to keep its EBITDA in line with last year, in spite of the strong COVID-19 impact on its top line. The Group’s profitability was affected by the ongoing issues in the offset printing industry, which accelerated due to the COVID-19 pandemic. We are taking the necessary steps to secure our position in this industry and to restore profitability. In the third quarter, we reached an agreement with our social partners regarding the closure of our printing plate factories in Pont-à-Marcq and Leeds, effective before the end of the year. Furthermore, we also see a COVID-19 related impact on the volume of our highly profitable medical film business. However, in the course of the quarter, most of our activities started to improve gradually, and – although we remain cautious – we believe that the fourth quarter will show further improvement,” said Pascal Juéry, President and CEO of the Agfa-Gevaert Group.