Agfa-Gevaert NV (AGFAt.BR, AFGVF), a Belgium-based analog and digital systems manufacturer, on Wednesday reported higher second-quarter earnings, despite weaker revenue.
The improved profit was backed by the final award of 45 million euros received in July from the AgfaPhoto arbitration.
The company reported a higher net profit attributable to shareholders of 30 million euros, compared to 5 million euros a year ago.
Earnings per share amounted to 0.19 euro, higher than 0.03 euro a year ago.
Meanwhile, adjusted EBIT declined 58.7% to 5 million euros from 12 million euros a year ago.
Adjusted EBITDA decreased 41.2% to 13 million euros from 22 million euros in the year-ago quarter.
The Group revenue slipped 1.6% to 281 million euros from 286 million euros in the year ago period.
Looking forward to the full year, Agfa-Gevaert expects order intake percentage in the HealthCare IT division to increase and be in the mid to high teens range.
In the Digital Print & Chemical division, the company expects moderate top-line growth and slight profitability growth.
Further, in the Radiology Solutions, continued declining trend in sales and profitability is expected.
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