Third Quarter 2021 Results

Q3 2021 Results

Agfa-Gevaert Group

November 9, 2021

Decent top line recovery but increasing inflationary pressure and supply chain issues

Key highlights Q3

• Decent top line recovery but contrasted performance between the divisions
• Strict cost management maintained - good margin performance versus Q3 2020 despite increasing inflationary pressure and supply chain issues
• Strong price actions in place, impact delayed for some businesses
• Adjusted EBITDA 35% higher than in Q3 2020
• Working capital stable as % of sales despite raw material cost inflation and supply chain issues

2

Agfa-Gevaert Group

Sales by division	9 months 2021 = € 1276 m

18%

Offset Solutions 

Radiology Solutions 

HealthCare IT 

13%

43%

Digital Print and Chemicals 

26%

3

Agfa-Gevaert Group

Key figures	in million Euro	Q3 '21	Q3 '20	∆%	9m'21	9m'20	∆%
		(excl.curr.)			(excl.curr.)
Profit & Loss
Sales	439	410	7.2%	1276	1242	2.8%
Incl. IFRS 16				(6.1%)			(4.2%)
Gross Profit*	118	112	5.4%	370	367	0.8%
	as a % of sales	26.8%	27.2%		29.0%	29.5%
	SG&A*	-88	-85	3.5%	-268	-264	1.4%
	as a % of sales	20.1%	20.8%		21.0%	21.3%
	R&D*	-22	-25	-9.9%	-71	-71	1.1%
	Other operating	-1	-2		0	-9
	items*
	Adj. EBITDA*	21	16	34.9%	77	71	8.1%
	as a % of sales	4.9%	3.9%		6.0%	5.7%

• Before restructuring and non-recurring items

Adj. EBIT*	6	0	31	23	33.9%
as a % of sales	1.4%	0.0%	2.4%	1.8%

4

Key figures

Profit & Loss

Incl. IFRS 16

• Before restructuring and non-recurring items

5

Agfa-Gevaert Group

	Q3'21	Q3 '20	9m'21	9m'20
in million Euro
Adjusted EBIT*	6	0	31	23
Restructuring/non-recurring	-7	-9	-5	-58
Operating result	-1	-9	26	-35
Non-operating result	-4	-9	-7	-25
Profit before taxes	-4	-17	18	-61
Taxes	-1	-8	-15	-15
Profit from continuing	-5	-25	4	-76
operations
Profit from discontinued	0	0	0	720
operations, net of tax
Profit	-5	-25	4	644