Agfa HealthCare - Fourth Quarter 2015

Agfa HealthCareThe fourth quarter top line decline is mainly due to Agfa HealthCare's inventory decisions in the hardcopy film business. These decisions aim to better align the inventory policy at the distributors' level to the current economic situation in certain emerging markets, including China and Latin America. In the mature markets, the business group posted top line growth.

In the Imaging segment’s digital radiography business, the DR product range's revenue continued to grow strongly.

In the IT segment, the HealthCare Information Solutions range posted revenue growth. In the field of Imaging IT Solutions, the order book and the installed base for the new Enterprise Imaging platform are growing steadily.

Mainly due to the inventory measures for hardcopy film, Agfa HealthCare's gross profit margin decreased from 38.0 percent of revenue in the very strong fourth quarter of 2014 to 36.0 percent. Recurring EBITDA decreased from 43.2 million Euro (14.3 percent of revenue) to 34.2 million Euro (12.4 percent of revenue). Recurring EBIT amounted to 27.6 million Euro (10.0 percent of revenue), versus 34.6 million Euro (11.4 percent of revenue).

In the field of Imaging, Agfa HealthCare signed several eye-catching contracts for its advanced digital radiography solutions. In the US, the Rush University Medical Center (Chicago) ordered three DX-D 600 DR systems and one DX-D 300 DR system. The Rotherham NHS Foundation Trust and the Yeovil District Hospital were the first care organizations in the UK to order the recently launched DR 600 X-ray room. An extensive DR contract - including DR 600 X-ray rooms, as well as mobile DR solutions - was also signed with the Klinikum Ludwigsburg (Germany).

In the field of Imaging IT Solutions, Agfa HealthCare has been identified as the Number 1 Enterprise Imaging IT vendor in the 2015 Trends in Medical Imaging Technology Report, published by peer60. The report is based on an industry survey of over 500 healthcare providers. In the fourth quarter, Agfa HealthCare announced that it had acquired over 250 new agreements for its Enterprise Imaging Solution since its launch. One of the most eye-catching contracts of the fourth quarter was signed with Västra Götalandsregionen in Sweden. The agreement lays out standard terms under which the 18 hospitals in the region can implement Agfa HealthCare's Enterprise Imaging for Radiology suite at their own pace. The first implementation will take place in Sahlgrenska University Hospital (Gothenburg), the largest hospital in Northern Europe. In the Middle East, comprehensive Enterprise Imaging Solutions were ordered for the American University of Beirut Medical Center and the Royal Commission Medical Center (Yanbu, Saudi Arabia). The Admiraal de Ruyter Ziekenhuis in Goes became the first hospital in the Netherlands to implement Agfa HealthCare's Enterprise Imaging for Radiology Solution.

In the field of HealthCare Information Solutions, Agfa HealthCare confirmed its leading position in the German speaking region of Europe. In the fourth quarter, new contracts were signed with - among other care providers - the Psychiatrieverbunde St. Gallen, the Klinikum Delmenhorst and the St. Josef Stift Delmenhorst.

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About Agfa
The Agfa-Gevaert Group is one of the world’s leading companies in imaging and information technology. Agfa develops manufactures and markets analogue and digital systems for the printing industry (Agfa Graphics), for the healthcare sector (Agfa HealthCare), and for specific industrial applications (Agfa Materials). Agfa is headquartered in Mortsel, Belgium. The company is present in 40 countries and has agents in another 100 countries around the globe. The Agfa-Gevaert Group achieved a turnover of 2,865 million euro in 2013.

About Agfa HealthCare
Agfa HealthCare, a member of the Agfa-Gevaert Group, is a leading global provider of diagnostic imaging and healthcare IT solutions. The company has nearly a century of healthcare experience and has been a pioneer on the healthcare IT market since the early 1990's. Today Agfa HealthCare designs, develops and delivers state-of-the-art systems for capturing, managing and processing diagnostic images and clinical/administrative information for hospitals and healthcare facilities, as well as contrast media solutions to enable effective medical imaging results. The company has sales offices and agents in over 100 markets worldwide. Sales for Agfa HealthCare in 2013 were 1,160 million euro.

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