Agfa Healthcare reports second-quarter results

Agfa-Gevaert and Agfa Healthcare have published their financial results for the second quarter of the 2008 fiscal year.

During the second quarter, Agfa Healthcare reported net sales of 313 million euros (248 million pounds), a 14.3 per cent decease on the comparable quarter last year.

Recurring EBITDA for the period before restructuring and non-recurring items fell by 31.4 per cent to 34.5 million euros, equal to 11 per cent of sales.

Sales at Agfa-Gevaert fell by 8.1 per cent to 777 million euros, a drop the company ascribed to the strength of the Euro and the economic slowdown in the UK and US.

“The competitive position of Agfa HealthCare will continue to suffer from the strong euro,” the company said.

It added more robust IT revenues are expected in the second half of the year, though noted the sales growth of the digital technology at AgfaHealthcare would not offset the decline in its traditional print and film business.

The company said it would have to improve its operational efficiency via a focus on cost reduction.

Last month, Agfa Healthcare announced the appointment of Dr Volker Wetekam as executive-vice president for IT at the firm, with Dr Wetekam reporting directly to president Christian Reinaudo.